EUR/USD to continue bearish run

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Weak economic growth and record high joblessness across the euro zone is likely to keep alive chances of more interest rate cuts by the ECB in the near term, keeping sentiment towards the euro bearish"
- CNBC

Pair's Outlook
EUR/USD is slowly eroding support at 1.2244/29, which is unwilling to give in easily. Nonetheless, bears are expected to overcome this obstacle and drag the price lower. The initial target lies at 1.2099/89, while subsequent ones at 1.1996 and 1.1896 are likely to be attained in the medium-term. Temporary initiatives of bulls, on the other hand, should end either at 1.2337/68 or 1.2411/47.

Traders' Sentiment
The portion of bullish market participants has diminished even further - down to 49%, while bears keep on spreading their influence, though their advantage is yet insufficient to make the overall market sentiment bearish. The ratio between buy and sell orders is 49% to 51%, respectively.

© Dukascopy Bank SA
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Actual Topics

Thu, 02 Aug 2012 06:53:34 GMT

GBP/USD stalled at 1.5533

The cable has effortlessly pierced through several supports yesterday, resulting in an accelerated down move, which was only stopped by 1.5533 (weekly S1). Consequently, we expect a bullish correction to occur, though resistance at 1.5573/1.5608 is unlikely to allow the rally to extend, keeping the overall bias bearish. Afterwards, the pair is anticipated to aim for 1.5472/50.

Wed, 01 Aug 2012 19:31:53 GMT

EUR/AUD to reach 1.1654

Yesterday's bearish movement turned out to be short-lived, and in the end another bullish reaction took place, however, today EUR/AUD currency pair returned to its bearish tendency and now is gradually moving closer to an initial support level at 1.1654 (Weekly S2). In case it fails to bring some bullish momentum, then next support at 1.1629 (Lower Bollinger Band) might be the reversal point for

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