© Dukascopy Bank
- Royal Bank of Scotland Group Plc (based on Bloomberg)
пЃ® Industry outlook
At the moment EUR/USD is underpinned by 1.2860, which will be breached in the short-term and pave the way for 200 month ma at 1.2089 to be reached. Rallies are expected to be capped by resistances located at 1.3145 and 1.3212.
пЃ® Traders' sentiment
The difference between the amount of long and short positions in the market has diminished, although bulls continue to exceed the quantity of bears, being 53.92% and 46.08% of the market, respectively.
пЃ® Long position opened
Investors are suggested to pay close attention to the identified resistance levels for the pair at 1.3033, 1.3068 and 1.3094.
пЃ® Short position opened
Major FX traders expect the price to test the initial support level at 1.2972. The breakout of this line will pave the way for the price to test S2 at 1.2946 and S3 at 1.2911.
© Dukascopy Bank