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- Jan Techau (based on Bloomberg)
Industry outlook
EUR/USD is considered bearish, as it is expected to slip down to 1.3380/60 in the near-term. Its further movements will target subsequent levels located at 1.3145, 1.2860 and eventually 1.20. Rallies should be capped by a resistance line at 1.3870.
Traders' sentiment
Longs are currently at a disadvantage in EUR/USD market where they constitute 46.7% of all the positions held, whereas shorts form a slightly bigger part - 53.3%, as the greenback is the most popular currency at the moment.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 1.3835, followed by R2 and R3 at 1.3923 and 1.4140 respectively.
Short position opened
Bearish market players will pay attention to a near-term support at 1.3618. The downtrend continuation will establish following targets for traders: S2 at 1.3489 and S3 at 1.3273.
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