EUR/JPY to continue advancing

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Source: Dukascopy
© Dukascopy
“There would be demand for safe haven currencies, like the dollar and yen”- Commonwealth Bank (based on Bloomberg)Industry outlookEUR/JPY extends its rebound from a strong support at 101.15, which is anticipated to last until 105.67 or 107.97/108.45. Dips will be limited by support lines located at 102.60, 101.95 and 101.15.Traders’ sentimentMore traders have become confident in the Japanese yen, as the quantity of shorts has grown faster than the amount of longs in EUR/JPY market. Bullish FX players constitute 57.94%, while bearish traders are 42.06% of all market participants.Long position openedThe break of the short-term resistance line 105.05 will pave the way for the pair to rise up to 105.79. The clearance of the second daily resistance level would establish a new target for traders at 107.41.Short position openedLargest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 103.43, 102.56 and 100.94.
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Fri, 30 Sep 2011 12:38:19 GMT

The cable to tumble

“Weak economic data would support the U.S. dollaron a safe-haven bid“- Commonwealth Bank (based on Bloomberg)Industry outlookThe possibility of the currency couple climbing up to the area of 1.5783/1.5973 is constantly decreasing. As soon as a support at 1.5500 is breached, losses may continue till the price slides down to 1.4973.Traders’ sentimentGBP/USD traders’ sentiment seems to be rather stable, without

Fri, 30 Sep 2011 12:37:47 GMT

EUR/USD to step lower

“Economic growth in Europe and the U.S. is notthat good, and that will put pressure on the euroand give a bid to the dollar”- Commonwealth Bank (based on Reuters)Industry outlookIn the short-term the bullish momentum is likely to fade away and slowly turn into a bearish one, which is expected to drag the pair down to 1.3515 en route to

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