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- Executive Board member Benoit Coeure (based on Reuters)
Pair's Outlook
After receiving a bullish impetus from 100-day SMA pair has already appreciated by more than 600 pips and it seems it is planning to end the week at the same pace. Pair is very likely to peek above 126 today and reach 127 in the beginning of the next week. Possibility of such scenario is also supported by technical indicators which send a rather strong aggregate "buy" signal on medium and long term.
Traders' Sentiment
Once again bears took the upper hand. At the moment they account for 52% of market participants. However, bulls have posted 86% of all pending orders on the pair/
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