© Dukascopy Bank
"Anti-euro bets are justified given the still-unresolved debt crisis and the poor growth prospects"
- Travelex Global Payments (based on CNBC)
пЃ® Industry outlook
The Euro - American Dollar pair is hovering below a tough resistance at 1.3000, while a key level is located at 1.3100/56. The outlook is negative for the pair with the possibility of EUR/USD touching 1.2750.
пЃ® Traders' sentiment
The amount of bullish traders (54.81% of the market) outnumbers the quantity of bearish ones (45.19%) on EUR/USD pair, since the 17-nation currency is the most popular currency at the moment.
пЃ® Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 1.2992, whereas R2 and R3 are situated at 1.3043 and 1.3087, accordingly.
пЃ® Short position opened
Major FX traders expect the price to test the initial support level at 1.2897. The breakout of this line will pave the way for the price to test S2 at 1.2853 and S3 at 1.2802.
© Dukascopy Bank