© Dukascopy Bank
- Zhou Xiaochuan, PBOC (based on CNBC)
Industry outlook
EUR/USD has plummeted down to 1.3067 (55 ma) and is expected to trade near this level for some time. Gains are likely to be mild, as the price is capped by a resistance at 1.3322. Below 1.3067 the pair should target 1.2891/54.
Traders' sentiment
Traders' sentiment on EUR/USD currency pair is little changed since yesterday. The majority of traders (54%) continue staying short on the pair, while 46% expect the price to surge.
Long position opened
The initial resistance level 1.3204. If the price continues increasing, the investors will hold longs until the pair climbs up to 1.3277 or 1.3340.
Short position opened
A part of the brokers will close their short positions near initial support level at 1.3068. In case of downtrend continuation, the pair might rebound from the S2 at 1.3005 or S3 at 1.2932.
© Dukascopy Bank