© Dukascopy
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"The pressure on Italy is quite significant if you look at how the yields have increased over the last days -- it is worrying"
- Euro zone official (based on Reuters)
Industry outlook
Following a quick correction the price is expected to carry on sliding down. The primary target is located at the level of 1.3381/60, then in the case of overwhelming bearish activity 1.3145 or even 1.20 might be reached.
Traders' sentiment
Traders' sentiment for EUR/USD market is static, as 47.06% of traders currently stay in longs. At the same time 52.94% of them expect the American dollar to appreciate relatively to the single currency in the nearest future.
Long position opened
The break of the short-term resistance line 1.3868 would pave the way for the pair to rise up to 1.3946. The clearance of the second daily resistance level would establish a new target for traders at 1.4103.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3711. If the pair erodes this level, then it might rebound from S2 of 1.3632 or S3 of 1.3475.