EUR/JPY erodes 101.99/95

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Weak data recently has certainly increased the likelihood of a rate cut later this year. With the downgrade by the EC, it will probably be tough to implement austerity measures in the euro zone"
- Commerzbank (based on CNBC)

Pair's Outlook

After an encounter with a crossing of an up- and a down-trend lines EUR/USD had more than enough bearish inertia to pierce through support at 102.63, although with a little bit of effort. The pair intends today to close below the 55-day SMA and at the moment is headed towards the 200-day SMA at 101.36/30 and a bullish trend-line at 100.89/44, which, if are unable to prevent further losses, should at least somewhat cushion the fall.

Traders' Sentiment
Currently there is no particular preference shown by the market towards any currency in the pair, as the shares of long and short positions are similar, 48% and 52%, respectively. Neutral sentiment is also supported by the ratio between buy and sell orders—51% to 49%, accordingly.

© Dukascopy Bank SA
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Actual Topics

Thu, 08 Nov 2012 16:51:48 GMT

AUD/USD prepares for a leg down

AUD/USD has already touched an upper edge of a bearish channel and may soon commence sliding down and thus follow the general trend. However, it may linger near the currency levels, as indicated by technical studies. The initial support is to be found at 1.0398, whereas a more reliable area is situated slightly lower, it stretches from 1.0380 (100-day SMA)

Thu, 08 Nov 2012 20:42:22 GMT

XAU/USD keeps bullish outlook

The bullish tendency, which started less than a week ago, has successfully managed to continue, as today the XAU/USD exchange rate experienced another consequent movement upwards, and now the price is slowly approaching the monthly PP at 1738, which might bring some bearish momentum. In case it fails to slow down the rally, then the exchange rate is very likely

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