© Dukascopy Bank
- Rabobank (based on Reuters)
Industry outlook
The outlook for EUR/USD will remain negative as long as a cluster of resistances at 1.2913/20 (downtrend and 20 day ma) stays in place. Currently the pair is moving toward 1.2530/88, while a long-term target is 1.2083 (200 month ma).
Traders' sentiment
The majority of traders (56%) is currently staying long on EUR/USD currency pair, whereas the rest (44%) of market participants remain short on it.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 1.2873, followed by R2 and R3 at 1.2932 and 1.3019, respectively.
Short position opened
Initial support for EUR/USD intraday trading is situated at 1.2727. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 1.2640 and 1.2581.
© Dukascopy Bank