EUR/USD rebounds from 1.2740/19

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Hope that U.S. politicians can avoid the fiscal cliff has been gaining traction over the weekend"
- Rabobank (based on MarketWatch)

Pair's Outlook

EUR/USD is moving away both from the 100 and 200-day SMAs and is currently well-positioned to extend the rally through the nearest resistances up to a major bearish trend-line situated just above 1.30. Formidable support at 1.2740/19 should limit possible losses, since near-term technical indicators give a strong "sell" signal and suggest existence of a threat to a bullish scenario.

Traders' Sentiment
Stance of SWFX marketplace participants is neutral towards EUR/USD, as the pair has not been demonstrating any propensity neither to surge nor to decline lately. Distribution of orders between buy and sell (55% to 45%) also does not provide certainty regarding sentiment of traders.

© Dukascopy Bank SA
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Tue, 20 Nov 2012 08:43:12 GMT

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