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- Scotiabank (based on MarketWatch)
Pair's Outlook
EUR/USD keeps on slowly approaching an important resistance level at 1.3627/19. Should this combination of the monthly pivot point and the up-trend line be breached, subsequently the price will most likely surge up to the major down-trend at 1.3797/83, provided that the Feb high at 1.3711 does not stop the advancement. Near 1.38, however, the currency pair should receive strong bearish impetus.
Traders' Sentiment
Currently the distribution between the long and short positions in the market is respectively 42% to 58%, which is unchanged from the readings recorded yesterday. In the meantime, the shares of buy and sell orders are the same—50% each.
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