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"For euro zone, it's time to say goodbye"
- Irwin Kellner (based on Marketwatch)
Industry outlook
Rallies are anticipated to be capped by tough resistances located at 104.75 and 105.00. From below, the price is supported by levels situated at 102.70/48, 102.44 and 101.95. The overall bias is thus neutral for now.
Traders' sentiment
Since the Euro is the most popular currency at the moment among its counterparts, the majority of positions held in EUR/USD market are presently long ones, namely 67.27% of the market. Short positions, on the other hand, form a lesser part - only 32.73%.
Long position opened
The price might rebound from the first resistance level at 104.62, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 105.29 and 106.73.
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 103.18, 102.40 and 100.95.
© Dukascopy