© Dukascopy
"The euro-zone will soon fall back into another fairly deep recession"
- Capital Economics (based on WSJ)
Industry outlook
For as long as the currency couple stays below a key resistance level located at 1.3870, the bias for EUR/USD will remain bearish. Currently the price is headed towards 1.3380/60, in case the latter line is breached, 1.3145 will be next in focus.
Traders' sentiment
The amount of long trades at the moment outnumbers the quantity of short ones in EUR/USD, as 50.31% of market participants are bulls and on the opposite side 49.69% of traders await for the greenback to appreciate.
Long position opened
FX market participants have put their take profit orders at the key resistance points of intraday trading. Some of the investors might close their deals at 1.3758 and 1.3892. The highest level is at 1.4110.Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 1.3540, 1.3456 and 1.3238.
© Dukascopy