EUR/USD consolidates - Technical Analysis - Dukascopy Bank

Thu, 18 Oct 2012 09:05:15 GMT
Source: Dukascopy Bank SA
 
© Dukascopy
"What helped spark this latest move is the fact that Moody's didn't cut Spain below investment grade"
- Brown Brothers Harriman & Co. (based on Bloomberg)

Pair's Outlook
EUR/USD pair consolidated during yesterday's trading session, which also showed that the previous high's resistance zone at 1.3100/30 is strong enough to hold a new upside impetus. Although the price stays in a shadow of the previous high, but larger time frames still remain powerful to push the price higher, without turning indicators in an oversold zone.

Traders' Sentiment
Trader's sentiments in SWFX market have not changed since yesterday, as the price moved so little. 42.8% still have a buy position and 57.2% have a short position. Pending orders segment shows very similar figures, as 52.4% traders are willing to open a long position and 47.6% have placed a short pending order.
© Dukascopy

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