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The resistance area at 1.3691 has successfully repelled the attack of the pair, sending it lower. At the moment the price is headed towards 1.3495 which is expected to hold and then trigger a rally which will again struggle at 1.3682/91.
Traders` sentiment
The amount of long trades in EUR/USD market has stopped decreasing and managed to rally up to 46.41%. At the same time the percentage of shorts has slightly dropped down to 53.59% of the whole number of positions.
Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 1.3689 and 1.3745. The highest level is at 1.3863.
Short position opened
A part of the brokers will close their short positions near the initial support level at 1.3571. In case of downtrend continuation, the pair might rebound from the S2 at 1.3509 or S3 at 1.3391.
“A few risk factors emerged overnight prompting investors to sell riskier assets. Investors are waiting for more news from Europe”
- Bank of Tokyo-Mitsubishi UFJ (based on Reuters)