© Dukascopy Bank
- Anthony Chung at AllianceBernstein (based on WSJ)
Industry outlook
In the short-term EUR/USD currency couple is expected to continue ascending. Above 1.3480 the pair should aim for 1.3550, while 1.3628 is likely to prove to be impenetrable. Dips are to be contained by 1.3322 and 1.3293.
Traders' sentiment
Traders' sentiment appears to be unchanged since the last report. 37% of market participants are still staying long and 63% of them are staying short on the pair.
Long position opened
The break of the short-term resistance line 1.3461 would pave the way for the pair to rise up to 1.3526. The clearance of the second daily resistance level would establish a new target for traders at 1.3573.
Short position opened
The immediate support line is at 1.3349. Should the price step even lower, it will encounter subsequent levels at 1.3302 and 1.3237, where recovery might start.
© Dukascopy Bank