© Dukascopy Bank
- State Street Global Markets (based on CNBC)
Industry outlook
The currency couple has already penetrated resistance at 1.3075 and is presently moving toward a tough zone located at 1.3140/45. However, this area in conjunction with 1.3245/50 is unlikely to allow EUR/USD to advance any further.
Traders' sentiment
The difference between the quantities of long and short positions continues to enlarge. At the moment 43% of the total amount of opened positions are long, while the majority (57%) of them are short.
Long position opened
The price might rebound from the first resistance level at 1.3173, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 1.3242 and 1.3363.
Short position opened
Bearish traders will pay attention to the key support levels to close their deals. The forecast targets are 1.2983, 1.2862 and 1.2793.
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