EUR/USD halts at 1.2410/40

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Risk markets are at very key levels of resistance at the moment and if they can be hurdled, then that would be evidence of the market's good sentiment for riskier assets"
- Rochford Capital (based on Bloomberg)

Pair's Outlook
EUR/USD still preserves some bullish momentum since Friday, as suggested by technical indicators on a daily timeframe. However, it is expected to wane afterwards, since resistance at 1.2410/40 is already proving the present rally of the pair to be fragile. Further appreciation of the Euro will encounter levels at 1.2535 and 1.2633/44, while dips will be limited by supports at 1.2337/34 and 1.2252/26.

Traders' Sentiment
Being that the shares of long and short positions are nearly equal, 49% to 51%, respectively, sentiment of traders towards EUR/USD remains mixed, while popularities of the Euro and U.S. Dollar are the same, since these currencies are both being bought in 58% of cases.

© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 06 Aug 2012 07:09:28 GMT

GBP/USD to test 1.5730/75

Rebound of the pair from 1.5517 last week confirms intentions of the cable to trade above an uptrend support and thus rechallenge a key resistance area that stretches from 1.5730 (200 day SMA) to 1.5775 (Bollinger band). Nonetheless, this zone is unlikely to be breached in near future and will cap the pair for now, while closest supports are to

Fri, 03 Aug 2012 20:29:58 GMT

GBP/JPY to challenge 122.59

Bearish trend, which was started on July 30th was paused today, and now a bullish correction takes place. Further GBP/JPY advance might find resistance at 20-day SMA at 122.59, but if it fails to reverse the current trend, then next resistance at 122.90 (Monthly PP) will probably bring some bearish impetus. At the same time, RSI indicator shows neutral signal, therefore no sudden tendency reversal

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.