© Dukascopy Bank
- JP Morgan Private Bank (based on CNBC)
Industry outlook
Rally of EUR/USD is unlikely to appear on the chart on the occasion of the fact that a number of significant resistances are located in close proximity of the current price - 1.3379, 1.3435 and 1.3487. Therefore the price is expected to decline down to 1.2624 within the next three months.
Traders' sentiment
Holders of long positions (42%) are in minority on EUR/USD relative to those who remain bearish (58%) on the currency pair.
Long position opened
Bullish investors should pay attention to the key resistance levels for intraday trading. R1 is situated at 1.3382, followed by R2 and R3 at 1.3421 and 1.3465, respectively.
Short position opened
Major FX traders expect the price to test the initial support level at 1.3299. The breakout of this line will pave the way for the price to test S2 at 1.3255 and S3 at 1.3216.
© Dukascopy Bank