© Dukascopy Bank
© Dukascopy Bank
- Barclays (based WSJ)
Industry outlook
On the occasion that 1.3206 (55 day ma) remains untouched, the outlook for EUR/USD is negative. The closest support is at 1.2995/1.3004, followed by 1.2974/54 and 1.2854, which should be reached in the near future.
Traders' sentiment
The gap between the share of bullish and bearish market participants has diminished to 6%, implying neutral sentiment on EUR/USD.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful during intraday trading. The initial resistance level is at the level of 1.3178, whereas R2 and R3 are situated at 1.3219 and 1.3274, accordingly.
Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 1.3082. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 1.3027 and at S3 of 1.2986.
© Dukascopy Bank
© Dukascopy Bank