© Dukascopy Bank
"The ECB will have to gear up its purchases should market tension increase, there is simply no other option available"
- Standard Chartered Bank (based on Bloomberg)
пЃ® Industry outlook
While being capped by tough resistances at 1.3460/87 and 1.3600/15, EUR/USD is likely to show further weakness and slide down to 1.3220/18. Should this support be broken, subsequent levels at 1.3145 and 1.2860 may be reached.
пЃ® Traders' sentiment
The share of long positions in the market continues to exceed the portion of short trades in EUR/USD market with 51.65% against 48.35%, since the Euro is the most popular currency at the moment among its major counterparts.
пЃ® Long position opened
The break of the short-term resistance line 1.3450 would pave the way for the pair to rise up to 1.3518. The clearance of the second daily resistance level would establish a new target for traders at 1.3602.
пЃ® Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3298. If the pair erodes this level, then it might rebound from S2 of 1.3214 or S3 of 1.3146.
© Dukascopy Bank