© Dukascopy Bank
- Western Union Business Solutions (based CNBC)
Industry outlook
The outlook for the currency pair remains bearish considering a formidable resistance that lies ahead at 1.3300/12. The first support EUR/USD is likely to encounter is situated at 1.3174, then 1.3045 and 1.2974/54.
Traders' sentiment
Despite a slight advantage (2%) of the short positions over the long ones, the overall traders' sentiment is presently neutral on the pair.
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 1.3228, 1.3260 and 1.3303.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3153. If the pair erodes this level, then it might rebound from S2 of 1.3110 or S3 of 1.3078.
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