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- German Social Democratic Party (based on Bloomberg)
Pair's Outlook
Pair eroded the weekly R1 with ease and at the moment is approaching 5 month high at 1.342. Short term technicals on aggregate suggest that pair should not have any difficulties breaching it. However, the Stochastic in the short and medium term send Sell signal suggesting that this level could cause pairs failure. In such case pair should trail to the 1.319 area. In case the pair's bullish stance prevails it is very likely to reach 1.35 in the nearest future.
Traders' Sentiment
Situation in the market remains exactly the same as yesterday. Bears account for 65% of market participants and 54% of pending orders are set in their favor as well.
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