© Dukascopy Bank
- Faros Trading (based on WSJ)
Industry outlook
The currency pair has bounced off a support at 1.3096 and is currently climbing higher. Nonetheless, this rally is likely to be short-lived, since most of the daily indicators are pointing to the downside - 1.2974/54 first, then 1.2624.
Traders' sentiment
The difference between the amounts of buy (49%) and sell (51%) orders has narrowed, making the traders' sentiment neutral on the pair.
Long position opened
Major market participants are likely to close their long positions at the key resistance levels. The primary short-term target will be reached at 1.3176. The breakout of this level will pave a way for a bullish run up to 1.3203 and then to 1.3243.
Short position opened
Key support for EUR/USD intraday trading is situated at 1.3109. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 1.3069 and 1.3042.
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