© Dukascopy Bank
- GFT (based on Marketwatch)
Industry outlook
EUR/USD is attempting to close above 20 day ma at 1.2851/77. Should the price confirm a breach, the pair is likely to carry on advancing until it reaches 1.3077/1.3145. The initial support may be found at 1.2782, followed by 1.2711 and 1.2624.
Traders' sentiment
The share of long positions on EUR/USD is gradually pulling back, reaching 48% of the total amount of positions. At the same time it leaves more room for bearish trades that already constitute 52% of the market.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 1.2908, whereas R2 and R3 are situated at 1.2966 and 1.3042 accordingly.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.2774, 1.2687 and 1.2640.
© Dukascopy Bank