© Dukascopy Bank
- Commonwealth Bank of Australia (based on Bloomberg)
Industry outlook
Most of the indicators suggest continuation of the bullish trend until EUR/USD reaches 1.3436 with potential of climbing as high as 1.3627. However, we cannot rule out a dip down to an initial support at 1.3108, since the pair is currently struggling at a 1.3250/80 resistance zone.
Traders' sentiment
Most of the traders (62%) have preferred to short EUR/USD currency pair. As a result, bulls are in a minority, constituting 38% of all the market participants.
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 1.3291 and 1.3323. The highest level is at 1.3358.
Short position opened
The immediate support line is at 1.3224. Should the price step even lower, it will encounter subsequent levels at 1.3189 and 1.3157, where recovery might start.
© Dukascopy Bank