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"The ECB will surely have to launch QE at some point. I suspect it might be sooner, rather than later"
- Jefferies (based on CNBC)
пЃ® Industry outlook
From above the currency pair is capped by resistances located at 1.3118, 1.3160/96 and 1.3281, the latter being a key one. Since the outlook remains bearish for the price, the focus is on supports at 1.3053, 1.2947 and 1.2873.
пЃ® Traders' sentiment
The gap between the amount of bullish and bearish trades has widened since yesterday. At the moment 44.93% of all the positions held in the market are long, while the majority of them (55.07%) are short ones.
пЃ® Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistances, as they might be useful during intraday trading. The initial resistance level is at the level of 1.3087, whereas R2 and R3 are situated at 1.3127 and 1.3158 accordingly.
пЃ® Short position opened
Major FX traders expect the price to test the initial support level at 1.3016. The breakout of this line will pave the way for the price to test S2 at 1.2985 and S3 at 1.2945.
© Dukascopy Bank