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- Alan Ruskin, global co-head of foreign-exchange research in New York at Deutsche Bank (based on Bloomberg)
Pair's Outlook
The common European currency traded slightly lower against the Greenback on Thursday morning. The move lower was just a continuation of an already three day old downward aimed trend, as the pair continued its move lower to the next support level at 1.0929. Moreover, from a fundamental perspective the noise regarding the Brexit negotiations has been messing up the air and mood in the markets, which causes the Euro to continue its decline. It is most likely that the rate is set to reach the before mentioned support level very soon.
Traders' Sentiment
Traders remain bullish with 56% of total open positions as long. In the meantime, 58% of set up orders are to sell the Euro.
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