© Dukascopy Bank
- Mitsubishi UFJ Morgan Stanley Securities Co. (based on Bloomberg)
Industry outlook
Given the presence of formidable resistances at 1.3000, 1.3055 and 1.3081, EUR/USD remains bearish, being that most of the indicators point to the downside as well. The initial target lies at 1.2809, followed by 1.2624.
Traders' sentiment
The share of long positions on EUR/USD is gradually expanding and has already reached 64% of the market, since presently the Euro is the most popular currency, followed by the Australian Dollar.
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 1.2969 and 1.3001. The highest level is at 1.3024.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.2914, 1.2891 and 1.2859.
© Dukascopy Bank