© Dukascopy Bank
- UBS (based on CNBC)
пЃ® Industry outlook
The currency pair has overcome an accelerated downtrend and is now facing 20 day ma located at 1.3080. Nonetheless, this resistance is unlikely to hold, allowing for an extended rally up to 1.3145/1.3250 which should become the final stage of the upside correction.
пЃ® Traders' sentiment
The majority of market participants stay bearish on EUR/USD currency couple, since the amount of long positions (45.24%)held is outnumbered by the amount of short ones (54.76%) opened.
пЃ® Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 1.3108. If the pair manages to go through this level, further resistances are situated at 1.3164 and 1.3253.
пЃ® Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.2963, 1.2874 and 1.2818.
© Dukascopy Bank