EUR/JPY - loses last week's gains

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The new reality is that this world is not in a normal growth mode"
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Pair's Outlook
EUR/JPY has lot the bullish impulse it received from Mario Draghi's speech last week, and is experiencing a bearish correction on Monday. The pair is currently en-route to Lower Bollinger band at 94.67, where also the weekly S1 is located. In case of a rebound, we are likely to see the pair testing 55-day SMA at 98.23.

Traders' Sentiment
Regardless of the significant bearish correction, the SWFX sentiment index demonstrates an increased number of bulls in the market (81%, up from 74% on Friday). However, 19% of market participants believe that the further downfall of the pair will continue.
© Dukascopy Bank SA
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Actual Topics

Tue, 31 Jul 2012 06:59:52 GMT

EUR/USD recovers ahead of 1.2244/33

Support at 1.2244/33 prevented precipitous fall of EUR/USD and triggered short-squeeze. The rally is expected to be tepid, being pressured by the overall bearish bias, and should end ahead of strong resistances at 1.2376/86 and 1.2417/47. Once support at 1.2244/33 is eroded, the pair will aim for 1.2106/1.2088, while additional bearishness may result in 1.1926/1.1867 being reached.

Mon, 30 Jul 2012 17:26:46 GMT

EUR/AUD to test 1.1645

EUR/AUD currency pair continues its bearish tendency that started on May 21th, and now it is gradually approaching Lower Bollinger Band at 1.1645, where EUR/AUD might find support for its ongoing decline. Although this support level seems strong enough to reverse current bearish trend, it still might be breached and then the next support level at 1.1626 (Monthly S3) is

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