© Dukascopy Bank
- Aspen Trading Group (based on CNBC)
Industry outlook
EUR/USD is now well-positioned for further gains and may advance up to 1.3625/30. The following target will be located at 1.3840/1.3900. Dips should be limited by supports at 1.3135 and 1.3048.
Traders' sentiment
The gap between the portions of long and short positions has narrowed. The share of bullish trades has increased up to 41%, while the share of bearish trades has diminished to 59%.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 1.3332, whereas R2 and R3 are situated at 1.3380 and 1.3439 accordingly.
Short position opened
Major market participants with short positions will hold their deals until the price slides down to the initial support level at 1.3225. If the price continues to slide down, the dealers might wait for the price to depreciate down to 1.3166 or 1.3118.
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