© Dukascopy Bank
"We expect a 25 basis point cut [by ECB] in rates"
- Standard Chartered (based on Reuters)
пЃ® Industry outlook
While being capped by a number of tough resistances at 1.3608/15 and 1.3835/60 EUR/USD currency pair is likely to continue sliding down. The primary target is at 1.3215, which is anticipated to withstand initial test.
пЃ® Traders' sentiment
The camp of market participants holding long positions has enlarged and now constitutes 51.32% of the total amount of traders, while the opposition has shrinked in size and currently composes 48.68% of the market.
пЃ® Long position opened
The break of the short-term resistance line 1.3459 would pave the way for the pair to rise up to 1.3508. The clearance of the second daily resistance level would establish a new target for traders at 1.3562.
пЃ® Short position opened
The immediate support line is at 1.3356. Should the price step even lower, it will encounter subsequent levels at 1.3302 and 1.3253, where recovery might start.
© Dukascopy Bank