© Dukascopy Bank
- Faros Trading (based on CNBC)
Industry outlook
A close below 1.3120 would indicate the end of bullish correction and continuation of Euro's depreciation. The price should then fall to 1.2900/1.2855 and eventually tumble down to 1.2530/90.
Traders' sentiment
There were no significant changes observed in the ratio between the amounts of long and short positions on EUR/USD. At the moment 38% of trades are bullish and the rest 62% are bearish on the pair.
Long position opened
The break of the short-term resistance line 1.3219 would pave the way for the pair to rise up to 1.3295. The clearance of the second daily resistance level would establish a new target for traders at 1.3367.
Short position opened
Bearish market players will pay attention to a near-term support at 1.3071. The downtrend continuation will establish following targets for traders: S2 at 1.2999 and S3 at 1.2923.
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