© Dukascopy Bank
- Bank of Tokyo-Mitsubishi UFJ (based on WSJ)
Industry outlook
EUR/USD has pierced though several supports and is currently in the proximity of 1.2954, breach of which will expose 1.2634. In the meantime, rallies should be capped by 1.3081, 1.3180 and 1.3264.
Traders' sentiment
Majority of market participants (55%) stay long on EUR/USD, expecting the Euro to appreciate, while 45% of traders are holding short positions.
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 1.3146. The breakout of this level will pave a way for a bullish run up to 1.3211 and then to 1.3244.
Short position opened
Key support for EUR/USD intraday trading is situated at 1.3048. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 1.3015 and 1.2950.
© Dukascopy Bank