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    EUR/USD still buoyed by lower Bollinger band

    © Dukascopy Bank SA
    "The risk of regulatory capture is something the Federal Reserve takes very seriously and works very hard to prevent. It is important that anyone serving the Fed feel safe speaking up when they have concerns about bias toward industry, and that those concerns be addressed."
    - Janet Yellen, Fed Chairwoman (based on Bloomberg)

    Pair's Outlook
    For a fourth consecutive day EUR/USD is posting no considerable daily changes in its value. On Tuesday, despite being initially supported by the Bollinger band, the pair failed to consolidate above the 1.12 mark and fell back below it. Still, this technical level continues to act as a strong support line for the Euro at the moment. Daily technical indicators are mixed right now; therefore, a decline below 1.1120 (weekly S1) is unlikely in the near term. 

    Traders' Sentiment
    Bullish positions at SWFX are accounting for 48% in the morning on Wednesday, down one percent from yesterday. Additionally, SWFX pending orders to buy the Euro against the US Dollar in 100-pip range from the spot are in the minority and account for just 38%. 

    © Dukascopy Bank SA

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