© Dukascopy
© Dukascopy
"I don't think the whole thing [Euro Zone] is going to fall apart anytime soon"
- Martin Feldstein, Harvard University Professor (based on Bloomberg)
Industry outlook
EUR/USD had pierced through a support at 1.3484 and is now approaching a lower level located at 1.3380/60. Should this line be penetrated as well, 1.3145 will come into play. Long-term target remains at 1.20.
Traders' sentiment
Supporters of the single currency continue to slightly outweigh the amount of traders who believe in its depreciation, at least comparatively to the greenback, since the pair is 50.79% bullish and 49.21% bearish.
Long position opened
The break of the short-term resistance line 1.3597 would pave the way for the pair to rise up to 1.3691. The clearance of the second daily resistance level would establish a new target for traders at 1.3835.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3453. If the pair erodes this level, then it might rebound from S2 of 1.3402 or S3 of 1.3258.
© Dukascopy