© Dukascopy
"The euro is entering its last days as we currently know it"
- Credit Suisse (based on Reuters)
Industry outlook
While rallies are limited by resistance levels at 1.3526 and 1.3835/80 the currency pair shows further weakness after piercing through 1.3360/80 support. EUR/USD is thus expected to slide down 1.3281 within a short-term, while 1.20 remains as the long-term target.
Traders' sentiment
Even though the difference between the amounts of long and short positions may not seem rather wide, but for EUR/USD it is considerable. Longs constitute 52.29% of the market, while shorts are 47.71% of it.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 1.3476, whereas R2 and R3 are situated at 1.3609 and 1.3820 accordingly.
Short position opened
Major FX traders expect the price to test the initial support level at 1.3265. The breakout of this line will pave the way for the price to test S2 at 1.3187 and S3 at 1.2976.
© Dukascopy