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- BBH (based on Reuters)
Pair's Outlook
As was anticipated, the Greenback lost some ground on Thursday, having slid back under the 104.00 mark. Nevertheless, the pair has been trading in a bullish trend for three weeks in a row now and technical indicators keep giving bullish signals, both suggesting that another bullish development is due. The Buck has the potential to establish a fresh 11-week high, which would also imply reaching the third resistance level, currently located just under the 115.00 major level. However, week US data today could spark more USD-selling, causing the bearish trend to prevail once again.
Traders' Sentiment
Bulls grew in number over the last 24 hours, as there are now 65% of all open positions being long (previously 57%). Meanwhile, the share of sell orders decreased from 57 to 53%.
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