© Dukascopy Bank
- Credit Agricole (based on Reuters)
Industry outlook
Bullish impetus is weakening ahead of tough resistance area at 1.3200/50. Rally may extend up to 1.3245/50, although further advancement is highly unlikely. Thus the attention is on the support lines at 1.3025 and at 1.2930.
Traders' sentiment
The ratio between the quantities of long and short positions on EUR/USD has slightly changed since the last report yesterday. Longs constitute 47% and shorts constitute 53% of the total amount of trades.
Long position opened
Initial resistance area for the pair is situated at 1.3164. Subsequent goals for the bullish market payers may be found at 1.3220 and 1.3257.
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 1.3071, 1.3034 and 1.2978.
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