© Dukascopy
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- RBS (based on Reuters)
Industry outlook
The currency couple is presently headed towards 1.3680/90,
although it is expected to struggle near a resistance line at
1.3447. The long-term target remains at 1.2860, currently covered
by supports at 1.3250 and 1.3145.
Traders’ sentiment
The amount of long positions in EUR/USD market is gradually
falling as it has already reached 44.6%, while the number of
traders (55.4%) believing the greenback will appreciate relatively
to the European currency is gradually growing.
Long position opened
Leading market participants, who have entered EUR/USD market
with a buy trade, are expecting to close their positions at the
key resistances at 1.3504, 1.3581 and 1.3790.
Short position opened
Major FX traders expect the price to test the initial support level
at 1.3295. The breakout of this line will pave the way for the
price to test S2 at 1.3164 and S3 at 1.2955.