© Dukascopy Bank
- Societe Generale (based on WSJ)
Industry outlook
Once the initial support line at 1.2964 is breached, EUR/USD currency couple will be targeting 1.2624 next, which is presently guarded by 1.2809. Near-term resistances may be encountered at 1.3081 and 1.3180.
Traders' sentiment
The share of bullish trades has increased significantly—up to 61%, while the portion of bearish ones has dropped down to 39%.
Long position opened
Leading market participants, who have entered EUR/USD market with a buy trade, are expecting to close their positions at the key resistances at 1.3054, 1.3101 and 1.3137.
Short position opened
Bearish market players will pay attention to a near-term support at 1.2971. The downtrend continuation will establish following targets for traders: S2 at 1.2935 and S3 at 1.2888.
© Dukascopy Bank