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- Rochford Capital (based on Bloomberg)
Industry outlook
Last week was positive for EUR/USD, though the next barrier the pair has to test is located near 1.3287/91 zone as the 5-month downtrend and the 8-month channel. There is a high probability that these levels will not be pierced and they will trigger a bearish correction.
Traders' sentiment
The share of short positions has slightly increased after Spain's lost of "A" credit rating, up to 56%, leaving the overall bearish stance of traders unchanged.
Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 1.3290 and 1.3337. The highest level is at 1.3403.
Short position opened
Key support for EUR/USD intraday trading is situated at 1.3177. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 1.3111 and 1.3064.
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