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- Growth Aces Research Team (based on FXStreet)
Pair's Outlook
The currency pair fell for a fifth day in a row on Friday. The cross moved lower than the initial support, namely the lower Bollinger band, and reached the weekly S2 level, which managed to prevent a further slump. The decline is likely to continue today as well, despite the technical studies being mainly mixed. The lower Bollinger band, along with the 127.00 psychological level, acts as an immediate support cluster.
Traders' Sentiment
SWFX traders' outlook slightly improved compared to Friday, as the majority of market participants (56%) are long the Euro. The share of buy orders placed 100 pips from the spot, however, remained unchanged at 31%.
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