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"I believe that the crisis, far from weakening the eurozone, will strengthen it. Now, we have all the instruments of stability and solidarity."
- French President (based on BBC)
Pair's Outlook
Pair started the week slightly below 1.32 and has been trying to advance above it since the beginning. However, for the time being monthly R1 at 1.322 is getting in the way. Although pair has been trading in 40 pip range the traders' sentiment dynamics suggest that bulls are preparing for a charge. Looking in to the short term technicals it seems that pair might dip, most likely till the weekly PP, before that.
Traders' Sentiment
Weekend had no impact on the moods of market participants—61% of open positions remain short on the pair. Bulls, however, posted additional pending orders (54% in total) suggesting that they might be preparing for a charge.
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