EUR/USD is undergoing a bullish correction

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Overall, the markets are willing to give the ECB the benefit of the doubt. The ECB is out there saying it will do something and that in itself is a positive"
- AFEX Markets Plc (based on CNBC)

Pair's Outlook
Currently EUR/USD is attempting to bounce from an accelerated uptrend support at 1.2271, but the rally should to be shallow, given that medium and long-term outlooks remain bearish. An initial resistance lies at 1.2319/37 and is likely to halt advancement in conjunction with the following resistance at 1.2385/96 (55 day SMA).

Traders' Sentiment
Despite the Euro being the most frequently acquired currency in SWFX marketplace (in 66% of cases), traders' sentiment remains neutral particularly towards EUR/USD, as 51% of traders are bullish and 49% are bearish on the pair. Orders, on the other hand, reveal much more negative sentiment, since 59% of them are to sell the common currency.

© Dukascopy Bank SA
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Actual Topics

Mon, 13 Aug 2012 07:15:41 GMT

GBP/USD to retest 1.5728/30

GBP/USD hovers just above a formidable support area at 1.5637/07 and thus should challenge resistance at 1.5728/30 prior to a dip back to this zone. Moreover, technical indicators also suggest a tepid rally before another down leg, which might extend down to 1.5249/33, given that 1.5573 is breached and 1.5482/72 and 1.5450/19 does not provide sufficient support.

Fri, 10 Aug 2012 15:49:34 GMT

Kiwi Dollar to remain bearish against the US dollar

Pair kept depreciating today, but was unable to breach level of 0.8083. Although outlook of the pair remains mildly positive for short and medium term, but pair is bound to meet heave resistance once it approaches 0.8148 (PP Weekly) and should resume falling towards 0.8025 (200-day SMA).

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