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- Capital Economics (based on The New York Times)
Pair's Outlook
Pair attempted to prolong its losses, but did not manage to do so after receiving support from the cluster of technicals levels at around 119. Technical indicators suggest that pair is somewhere in the vicinity of oversold area, but this has not received a bullish impetus. It is worth point out double top formation (both tops seen in the graph) formation present in the pair and the fact that pair is trading close to the pattern's support.
Traders' Sentiment
Shares of bulls and bears in the market remain almost equal with bears having a minor upper hand (51%). Changes could be seen in distribution of pending orders—61% of them are to go long.
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