EUR/JPY starts week passively

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Hopes that maybe we will get better news out of Greece is providing a little bit of support to the euro. I am not supremely confident (of a resolution being reached on Tuesday). The history of this process has been one of delays." 
- HSBC (based on Reuters)

Pair's Outlook
After a minor tip toe of 33 pips yesterday pair is hovering slightly below 104 JPY. It seems It is planning to stay there for some time more, but Stochastic indicator suggest pair is oversold and bearish dip is just around the corner. However, longer term technicals and support levels allow us to believe that dip should not be much further than 103 JPY.

Traders' Sentiment
Bears gained some ground during the weekend and at the moment they constitute for 54% of traders in the market. However, distribution of pending orders which is in favour for the bulls (54% of all orders) suggest market sentiment can return to perfect equilibrium as in the end of last week.

© Dukascopy Bank SA
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Actual Topics

Mon, 19 Nov 2012 16:25:47 GMT

AUD/USD bounces from 55-day SMA

Pair advanced by more than 60 pips after receiving a bullish impetus from 55-day SAM at 1.034 yesterday. Although pairs outlook is rather neutral, stochastic indicator suggests it is not just a one time incident, but rather a start of a bullish rally which should test strong resistance areas around 1.044 and 1.047 rather soon.

Mon, 19 Nov 2012 08:48:40 GMT

GBP/USD steps above the 200-day SMA at 1.5859

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