© Dukascopy Bank
- Morgan Stanley (based on CNBC)
Industry outlook
EUR/USD is anticipated to overcome an initial resistance at 1.3235/50 and then fail at 1.3300/22. Afterwards it is expected to slide down to 1.2974. Below the latter level the pair will target 1.2891/54 en route to 1.2775.
Traders' sentiment
Disposition of traders on EUR/USD currency pair is little changed since the previous day. 42% of traders are holding long positions and 58% of them are staying short.
Long position opened
Leading market participants, who have entered EUR/USD market with a buy trade, are expecting to close their positions at the key resistances at 1.3290, 1.3344 and 1.3396.
Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 1.3184. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 1.3132 and 1.3078.
© Dukascopy Bank