© Dukascopy Bank
- Investec Asset Management Ltd. (based WSJ)
Industry outlook
Even though at the moment EUR/USD seems to be directionless after unsuccessful attempt to breach 1.3000, in the long term the pair is deemed bearish, given a formidable resistance overhead at 1.3206 (55 day ma).
Traders' sentiment
Traders' sentiment is little changed since yesterday. Long positions, which constitute 56% of the market, continue to outweigh short ones (44%).
Long position opened
The initial resistance level for intraday trading is 1.3167. Bulls might establish additional targets at 1.3211 and 1.3249 if the Euro appreciates more.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.3085, 1.3047 and 1.3003.
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