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- Credit Agricole (based on MarketWatch)
Pair's Outlook
Yesterday the currency pair made an attempt to decouple from the rising trend-line, but turned around ahead of the resistance at 1.3613—the weekly R1. Still, we expect the support at 1.3549/40 to withstand the downward pressure and eventually send EUR/USD up to 1.3177. There, however, the rally is likely to transform into a sell-off with the long-term targets below 1.30.
Traders' Sentiment
While the U.S. Dollar continues to be one of the most popular currencies in the SWFX marketplace, there was a slight decrease in the gap between the amounts of open long and short positions in EUR/USD, being that the share of the former grew to 36% and the share of the latter dropped by one percentage point to 64%.
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