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- DailyFX (based on Reuters)
Pair's Outlook
Despite a massive sell-off that occurred two days ago, depreciation of the Euro in the near-term is unlikely to remain as straightforward. The support, represented by the monthly S1 and the 100-day SMA, does not seem to be willing to let the price decline any further. Eventually, however, the currency pair is expected to breach this area and start moving en route to the April low at 1.2745.
Traders' Sentiment
While previously the gap between the amounts of long and short positions had been widening, most recently the difference between them has been contracting. The share of bullish market participants is now 45% and the share of the bearish ones—55%.
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