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- Dutch Finance Minister (based on Business Standard)
Pair's Outlook
Pair continues to recover after bouncing from 2013 may low at 1.279. At the moment it is aiming at weekly PP at 1.289. Pair is likely to continue this corrective move, but, as technical indicators suggest, it shouldn't advance far. Short term rallies should be capped by the 1.299. After this correction we could once again focus on the 2013 low at 1.279.
Traders' Sentiment
It seems that bears are putting pressure on other market participants. Currently 51% (-2% since yesterday) of all open positions belong to the bulls. Share of pending orders posted by the bears increased by 8% and at the moment is at 60% gauge.
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