© Dukascopy Bank
"We remain negative about the euro"
- Swissquote Bank SA (based on Bloomberg)
пЃ® Industry outlook
EUR/USD has rebounded from 1.2860, as bearish momentum was not able to penetrate the support. For now the currency couple is anticipated to attempt to break through 1.2971 and reach 1.3145/1.3250 before it recommences declining.
пЃ® Traders' sentiment
Traders' sentiment has turned from positive to neutral on EUR/USD currency pair, since the share of bullish and bearish market participants is nearly the same, being 49.48% and 50.52%, respectively.
пЃ® Long position opened
Major market participants are likely to close their long positions at the key resistance levels. The primary short-term target will be reached at 1.2964. The breakout of this level will pave a way for a bullish run up to 1.2994 and then to 1.3018.
пЃ® Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 1.2910. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 1.2886 and 1.2856.
© Dukascopy Bank