© Dukascopy
- Nomura Securities (based on Bloomberg)
Industry outlook
At the moment the European currency is rallying, but is expected to be halted by resistances at 1.3616 and 1.3635. These levels are likely to trigger a sell off down to 1.3270 and 1.3145 in the long-term, after EUR/USD breaches the immediate support at 1.3424.
Traders' sentiment
Supporters of the European currency are gradually enhancing their advantage over their opposition in EUR/USD market. At the moment 51.73% of all the positions held are bullish, whereas 48.27% of them are bearish.
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 1.3539 and 1.3595. The highest level is at 1.3706.
Short position opened
A part of the brokers will close their short positions near initial support level at 1.3428. In case of downtrend continuation, the pair might rebound from the S2 at 1.3373 or S3 at 1.3262.
© Dukascopy