© Dukascopy Bank
- Win Thin at Brown Brothers Harriman (based on WSJ)
Industry outlook
Since EUR/USD currency pair has come under 1.3182, it is now likely to recommence sliding down, as bullish correction is now deemed to be over. The initial target lies within 1.3025 and 1.3000. Further development might result in a dip down to 1.2854.
Traders' sentiment
The share of bullish traders in the SWFX marketplace has increased up to 47%, while the portion of bearish ones has diminished to 53%. Therefore the sentiment is mixed at the moment on EUR/USD.
Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 1.3252. If the pair manages to go through this level, further resistances are situated at 1.3317 and 1.3351.
Short position opened
Major dealers are planning to partially close their short positions if the pair touches upon the first support level at 1.3153. However, if the bearish impetus proves to be strong enough, some of the positions could be squared off at S2 of 1.3119 and at S3 of 1.3054.
© Dukascopy Bank