EUR/USD challenges 1.2953

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"One of the big problems that remains unresolved in the euro area is a lack of growth. We still anticipate the euro will continue to weaken and expect a move back to $1.20 over the next six to 12 months"
- Bank of Tokyo-Mitsubishi (based on Bloomberg)

Pair's Outlook

Support at 1.2953 has held the initial test, but will be unable to contain the pair should the attempt to breach it be repeated. In this instance EUR/USD may pull back down to 1.2827/04 (200 day SMA), but will nevertheless remain bullish, as an accelerated uptrend support has not yet been breached and is likely direct the price up to 1.3525, rally beyond which is not expected.

Traders' Sentiment
SWFX traders' sentiment index on EUR/USD is unchanged since yesterday, as majority of market participants continue to favour the U.S. Dollar, as 60% of positions are short and 40% are long on the pair. Signal provided by orders is contrarian, being that the share of buy orders (57%) is larger than the portion of sell orders (43%).

© Dukascopy Bank SA
Back to articles

Actual Topics

Fri, 21 Sep 2012 07:57:19 GMT

GBP/USD strains 1.6242

The market appears to respect a downtrend resistance line currently located at 1.6242, though bullish pressure still seems to overpower bids at this level, thus making 1.6300 exposed to risk of being breached in the near term. Subsequent resistances are at 1.6331/66 and 1.6441/43, although the pair did not yet confirm its bullish intentions and is a subject to a

Thu, 20 Sep 2012 20:32:09 GMT

XAU/USD breaches monthly R2 at 1764

Today the XAU/USD exchange rate experienced a slight bearish reaction, which has already managed to breach the monthly R2 at 1764, and at the particular moment the price faces the weekly PP at 1756, which might bring some bullish impulse. In case it is broken, then the exchange rate might decline until the weekly S1 at 1734, which in turn

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.