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- Miller Tabak & Co LLC (based on CNBC)
Pair's Outlook
After a rather volatile trading session pair closed only 30 pips above its opening price few days ago. Yesterday it dipped almost 100 pips and at the moment is being supported by the weekly S1 just slightly above 1.32. Although short term technicals on aggregate point at appreciation of the pair it is worth pointing out that quite a few individual indicators give neutral outlook. It is very likely this will be the dominant factor in the nearest future keeping the pair around 1.32.
Traders' Sentiment
Bears are the dominant power in the market at the moment. At the moment they account for 57% of market participants and 61% of pending orders are in their favor as well.
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