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- TD Securities (based on Reuters)
Pair's Outlook
The EUR/USD's short-term upward trend, which started two days ago, continued on Tuesday, as the shared currency gained more value and crossed the weekly pivot point at 1.2444. Moreover, the pair decided to go even further to the north and closed at 1.2480 at the end of the day. Despite that, daily and weekly technical indicators continue pointing downwards, meaning that we can observe a consolidation in the nearest future.
Traders' Sentiment
Distribution between bullish and bearish positions returned back to the levels seen five days ago. At the moment 51% and 49% of traders are holding long and short positions, respectively, while pending orders are still slightly bearish in both ranges.
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