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- Newedge Group (based on Bloomberg)
Pair's Outlook
Pair started the week in a rather calm manned very close to where it ended the last week. Short term technicals suggest that similar neutrality should last for some time now. Medium to long term technicals, however, point at appreciation of the pair. In order to negate most of thus bullishness the pair should dip below the 20-day SMA/weekly and monthly PP, which seems rather unlikely at the moment.
Traders' Sentiment
At the moment, open positions are almost equally distributed between the long and short traders. Clear majority (70%) of pending orders, however, are set in favour of the bulls.
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