© Dukascopy Bank
"More important for the euro is that the ECB will keep monetary policy extremely loose. Any bounce in the euro is a chance to go short. The euro will fall back to $1.20 in a year's time"
- Barclays (based on CNBC)Industry outlook
EUR/USD continues climbing higher after bouncing off 1.2974. In case the rally extends above 1.3322, the pair is likely to reach 1.3435 with a consecutive possibility of surging up to 1.3628. Should resistance at 1.3322 withstand, the price will target 1.2974 first and 1.2891/54 afterwards.
Traders' sentiment
The share of short positions on EUR/USD has grown up to 57%. At the same time the portion of short positions has diminished to 43%.
Long position opened
Largest brokers set a new long position target as a break of 1.3288 may become an encouraging bullish sign en route to 1.3335. If the uptrend remains, the third target for intraday trading will be 1.3394.
Short position opened
Key support for EUR/USD intraday trading is situated at 1.3182. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 1.3123 and 1.3076.
© Dukascopy Bank