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– London Capital Group (based on investing.com)
Pair's Outlook
The Euro is back at the upper trend line of the medium term ascending channel against the US Dollar on Thursday. The jump was caused by Donald Trump's speech, in which he did not concentrate much on fiscal policy, but rather other topics. That caused the US Dollar to fall. Although, as that happened in the borders of the pattern, a depreciation of the Euro against the Greenback is still expected. The rate is most likely set to retreat back to the monthly PP at 1.0580 by the end of the day's trading session.
Traders' Sentiment
SWFX traders returned to being bullish on the pair, as 53% of open positions were long on Thursday. Meanwhile, 63% of trader set up orders were to sell the Euro.
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