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- Rochford Capital (based on Bloomberg)
Industry outlook
EUR/USD has sold off from a resistance at 1.3385 down to 1.3201 (55 day sma) and is now expected to extend its losses. The immediate support may be found at 1.3127, while subsequent levels are located at 1.3004 and 1.2974/54.
Traders' sentiment
Traders' sentiment is currently mixed on EUR/USD, since the shares of long and short positions are almost the same, being 49 and 51 per cent of the market, accordingly.
Long position opened
Largest brokers set a new long position target as a break of 1.3328 is an encouraging bullish sign en route to 1.3425. If the uptrend remains, the third target for intraday trading will be 1.3482.
Short position opened
The immediate support line is at 1.3174. Should the price step even lower, it will encounter subsequent levels at 1.3117 and 1.3020, where recovery might start.
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