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"This wouldn't be a one-time, immediate foreign-currency conversion of the outstanding debt but the gradual yet complete conversion into forint and elimination of the exchange-rate risk."
- Hungary's vice president talking about Swiss-franc loans (based on Bloomberg)
Pair's Outlook
Pair was giving away some bullishness yesterday, but it seems that the pressure coming from the 20-day SMA will keep the pair at bay. This, combined with the readings from the short and medium term technicals give rather clear indication that the pair will remain bearish in the nearest future.
Traders' Sentiment
Share of bulls in the market increased by 2% since yesterday and at the moment they account for 75% or market participants. All of this increase seems to be coming from triggering of pending bullish orders which decreased by 8% since yesterday and is at 60% level today.
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