The Euro is neutral, trading in the 96.00-97.50 price channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The threat of continued fiscal problems [in Europe], recessionary conditions across the region and weakening demand for German exports made investors more pessimistic about current and future economic conditions. As a result, there could be serious obstacles to a [euro] recovery."
- BK Asset Management (based on MarketWatch)

Pair's Outlook

The Euro continues trading in a flat trend against the Yen. If bullish momentum adds to gains, 97.87 (61.80% Fibo) is going to be an initial resistance level among investors. 98.88 (R2 Weekly) and 99.47 (100-day SMA) are likely to be next once an initial level is pierced.

Traders' Sentiment
Traders' sentiment remains bullish on EUR/JPY today, though it slightly weakened compared to yesterday as 65% (70% yesterday) of market participants are presently long on the currency pair and 35% of traders still expect the pair to decline further. The allocation of long and short positions points at a weakening bullish sentiment as 54% of investors expect the pair to advance over the middle term.
© Dukascopy Bank SA
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Actual Topics

Wed, 18 Jul 2012 15:17:25 GMT

AUD/USD reiterates bullish trend; 1.0350 in focus

The Aussie dollar is trading above the 200-day SMA; currently the pair slightly fell, but the bullish momentum is likely to hold. And if this is the case, investors might test an initial resistance level at 1.0350 (Upper Bollinger band), followed by 1.0385/400 (38.20% Fibo; R2 Weekly) and 1.0574 (23.60% Fibo) if a breakout occurs, respectively.

Wed, 18 Jul 2012 07:44:12 GMT

USD/CHF recommences recovery

Resistance at 0.9805 withstood bullish pressure and managed to contain the pair yesterday. Nonetheless, being that majority of indicators point to the upside, this level is prone to be eroded and thus pave the way towards 0.9873 and 0.9906/40. In the meantime, near-term dips should be limited by supports situated at 0.9737, 0.9698/69 and 0.9604/02.

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