© Dukascopy Bank
- BNP Paribas (based on CNBC)
Industry outlook
The outlook for EUR/USD is deemed to be bearish due to a formidable resistance located at 1.3487. Recently the pair has bounced off 1.3291/1.3325 and is now expected to pierce through 1.3112 (55 day sma) while being on the way towards 1.3004.
Traders' sentiment
Traders' sentiment is currently mixed on EUR/USD currency pair, since the share of long and short positions on the market is nearly the same, being 47 and 53 per cent, accordingly.
Long position opened
The break of the short-term resistance line 1.3258 would pave the way for the pair to rise up to 1.3316. The clearance of the second daily resistance level would establish a new target for traders at 1.3379.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3137. If the pair erodes this level, then it might rebound from S2 of 1.3074 or S3 of 1.3016.
© Dukascopy Bank