USD/CHF to keep on advancing

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The negative headlines in the euro zone caused the dollar to strengthen across the board. China's slowing economic growth is still a lingering concern"
- Bank of Singapore Ltd. (based on Bloomberg)

Pair's Outlook

Since the last report USD/CHF has penetrated several resistances and is about to confirm a break of 0.9906 today, above which it will aim for 0.9960/87 first, then for 1.0018/42. The nearest support is located at 0.9853, followed by 0.9795, though a key level is situated at 0.9692/88, safety of which preserves bullish outlook of the price in the long-term.

Traders' Sentiment
The portion of bulls has increased up to 62%, implying growing conviction of market participants that USD/CHF is to continue rallying. On the other hand, the pair is becoming overbought, as also evidenced by the ratio between buy and sell orders, being 29% to 71%, respectively.

© Dukascopy Bank SA
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Actual Topics

Mon, 23 Jul 2012 15:31:11 GMT

EUR/JPY Slight correlation expected, near-term focus on 95.72/86

EUR/JPY is hitting its eleven-year low, and currently is trading around 94.58 after re-emergence of Greek exit talks and turmoil in Spanish banking sector today. A slide towards the 90.00 psychological level will strongly be detained by the lower Bollinger band at 93.60. A small correction is expected by the largest market participants to 65.72/86 with a further slide afterwards.

Mon, 23 Jul 2012 07:40:02 GMT

USD/JPY's downward momentum is weakening

USD/JPY is currently grinding down a support area at 78.22/08, after which it is likely to target 77.85, while a lower level at 77.33 has a much lesser chance of being attained, since in general indicators are neutral. Even though resistances at 78.68 and 78.98 are unlikely to come into play, they will attempt to limit rallies en route to

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