EUR/USD to push through 1.2247

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is a global trend in which the euro seems like the weakest currency"
- UBS (based on CNBC)

Pair's Outlook
The currency pair stabilised just above 1.2274 and should soon make another attempt to breach this support, given that most of daily technical indicators give "sell" signals. Once the initial level is overcome, 1.2161 and 1.2106/1.2063 will become exposed, but will stand against bearish momentum en route towards a medium-term target at 1.1989.

Traders' Sentiment
Being that the common currency is the most popular among its peers, majority of traders on EUR/USD hold long positions (64%), whereas bearish market participants are in distinct minority, constituting 36% of the market. The ratio between buy and sell orders, on the other hand, is 41% to 59%, accordingly.

© Dukascopy Bank SA
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Actual Topics

Fri, 20 Jul 2012 07:29:31 GMT

GBP/USD preserves potential to test 1.5767/90

The Cable has stalled at a formidable resistance area at 1.5721/30 after a robust rebound from the nearest support at 1.5650. Since weekly and monthly indicators point to the downside, recently commenced recovery of GBP/USD is likely to come to an end, although the pair might still reach out for 1.5767/90 before its upward momentum is suppressed.

Thu, 19 Jul 2012 14:45:48 GMT

Kiwi dollar commences a bullish trend against the greenback

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