© Dukascopy Bank
"There still has to be further monetary easing by the ECB to support growth in the euro area for 2012 and beyond"
- Standard Life Investments (based on Bloomberg)
пЃ® Industry outlook
EUR/USD is extremely bearish, as it has just breached through 1.3220. The next level in focus is 1.3145 which is likely to be reached in the near term. Initial resistance is at 1.3381, followed by 1.3550/77.
пЃ® Traders' sentiment
Traders' sentiment has become even more bullish on EUR/USD, since the Euro continues to be the most popular currency among its major counterparts. Particularly in EUR/USD, 55.39% of trades are long and 44.61% of them are short at the moment.
пЃ® Long position opened
Leading market participants, who have entered EUR/USD market with a buy trade, are expecting to close their positions at the key resistances at 1.3324, 1.3461 and 1.3542.
пЃ® Short position opened
Major FX traders expect the price to test the initial support level at 1.3106. The breakout of this line will pave the way for the price to test S2 at 1.3025 and S3 at 1.2888.
© Dukascopy Bank