© Dukascopy Bank
- Gaitame.com Research Institute Ltd. (based on Bloomberg)
Industry outlook
As expected, the currency pair has managed to attain its initial target at 1.30. The current bullish outlook is likely to last until 1.3245 is reached, though a resistance area at 1.3077/1.3145 will have to be penetrated first.
Traders' sentiment
Bullish market participants continue to be at a disadvantage relative to the bearish traders in terms of the amount of positions held. Currently there are 45% longs and 55% shorts opened on EUR/USD.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 1.3087, followed by R2 and R3 at 1.3158 and 1.3264, respectively.
Short position opened
Key support for EUR/USD intraday trading is situated at 1.2910. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 1.2804 and 1.2733.
© Dukascopy Bank