© Dukascopy Bank
- Royal Bank of Scotland Group Plc (based on Bloomberg)
Industry outlook
Being that EUR/USD currently faces a string of formidable resistances, there is little chance for the currency couple to overcome 1.3375, 1.3428 and 1.3487. Therefore the focus is on supports located at 1.3251, 1.3186 and 1.3133.
Traders' sentiment
The situation regarding traders' sentiment on EUR/USD has changed, as bulls are now in majority (52%), even though to a small extent.
Long position opened
Major market participants are likely to close their long positions at the key resistance levels. The primary short-term target will be reached at 1.3373. The breakout of this level will pave a way for a bullish run up to 1.3427 and then to 1.3475.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3271. If the pair erodes this level, then it might rebound from S2 of 1.3223 or S3 of 1.3169.
© Dukascopy Bank