© Dukascopy Bank
- CitiFX (based on CNBC)
Industry outlook
Even though at present EUR/USD is aiming for 1.3550, the pair is expected to lose its bullishness along the way to 1.3628, as the long-term outlook remains bearish. Supports are situated at 1.3436, 1.3322 and at 1.3199.
Traders' sentiment
Most of the market participants (63%) prefer shorting the Euro against the American Dollar. Accordingly, the minority of them (37%) is currently holding long positions 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 1.3504, whereas R2 and R3 are situated at 1.3559 and 1.3632, accordingly.
Short position opened
Bearish traders will pay attention to the key support levels in order to close their deals. The primary forecast target is 1.3376. If the pair erodes this level, then it might rebound from S2 of 1.3303 or S3 of 1.3248.
© Dukascopy Bank