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    EUR/USD to move away from 1.1150

    © Dukascopy Bank SA
    "The Fed is not on a fixed, premeditated path, but clearly they are biased to move away from emergency policy settings." 
    - Westpac Banking Corp. (based on Bloomberg) 

    Pair's Outlook 
    Unless the Fed postpones a rate hike beyond September, the Euro is likely to start negating recent gains. The falling trend-line and the monthly PP at 1.1150 continue to act as a ceiling, and any attack on this level should be repelled. The immediate support is the 100-day SMA, and while this can underpin the rate for some time, EUR/USD could re-test July's low already next week. At the same time, a breach of 1.1150 will suggest an extension of a rally towards 1.13. 

    Traders' Sentiment 
    The SWFX market participants remain slightly bearish towards the single currency. Right now 57% of them are short the Euro. As for the pending orders, there is currently no real difference between the buy (48%) and the sell (52%) ones.
    © Dukascopy Bank SA

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