© Dukascopy Bank
- BNP Paribas (based on CNBC)
Industry outlook
Even though bearish momentum seems to be weakening, intraday rallies of the currency couple should remain tepid due to a formidable resistance area located at 1.3192/1.3291. Support at 1.2624 remains as the long-term target.
Traders' sentiment
There has been no change in traders' sentiment towards EUR/USD since the previous report. It is still neutral, as the number of long and short positions is nearly the same, being 49 and 51 per cent, accordingly.
Long position opened
Largest brokers set a new long position target as a break of 1.3132 is an encouraging bullish sign en route to 1.3183. If the uptrend remains, the third target for intraday trading will be 1.3248.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.3016, 1.2951 and 1.2900.
© Dukascopy Bank