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- DailyFX (based on WSJ)
EUR/USD is now bearish and is expected to decline even further. Support at 1.3199 has already been attained, while the following targets lie at 1.3141 and 1.3070 (55 day ma). Resistances at 1.3389 and 1.3436 cap the pair from above.
Traders' sentiment
The ratio between the amounts of long and short positions on EUR/USD currency pair is 42% to 58%, implying no significant change in the traders' sentiment.
Long position opened
The price might rebound from the first resistance level at 1.3351, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 1.3391 and 1.3426.
Short position opened
A part of the brokers will close their short positions near initial support level at 1.3276. In case of downtrend continuation, the pair might rebound from the S2 at 1.3241 or S3 at 1.3201.
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