© Dukascopy Bank
- Westpac Banking Corp. (based on WSJ)
Industry outlook
Despite pair's recent determined advancement, EUR/USD is expected to remain capped be a key resistance line located at 1.3245/50. In case this level is penetrated, 1.3436 and 1.3627 may become the next preys.
Traders' sentiment
The portion of long positions continues to drop. At the moment bullish trades constitute 41% of the total amount of opened positions, while bearish trades form a majority - 59%.
Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 1.3241 and 1.3326. The highest level is at 1.3433.
Short position opened
A part of the brokers will close their short positions near initial support level at 1.3049. In case of downtrend continuation, the pair might rebound from the S2 at 1.2942 or S3 at 1.2857.
© Dukascopy Bank