© Dukascopy Bank
- National Australia Bank (based on CNBC)
Industry outlook
While rallies are unlikely to extend beyond 1.3162 and 1.3208 (55 day ma), EUR/USD currency pair is expected to trade lower. The initial support lies at 1.3032, followed by 1.3000/04 and 1.2974/54.
Traders' sentiment
The gap between the shares of bullish (54%) and bearish (46%) market participants on EUR/USD has narrowed down to 8%, making current sentiment neutral.
Long position opened
Largest brokers set a new long position target as a break of 1.3132 is an encouraging bullish sign en route to 1.3183. If the uptrend remains, the third target for intraday trading will be 1.3223.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.3041, 1.3001 and 1.2950.
© Dukascopy Bank