EUR/CAD breaks through 20-day SMA at 1.2265

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Resistances: 1.2357; 1.2432; 1.2471
Supports: 1.2265; 1.2201; 1.2118

Outlook
Yesterday's bullish reaction managed to advance even further, and now the EUR/CAD currency couple has broken through the 20-day SMA at 1.2265, and the price is heading towards the weekly R1 at 1.2357, which might bring some bearish momentum. However, if it fails to stop the rally, then next resistance at 1.2432 (upper Bollinger band) will probably reverse the prevailing tendency. Moreover, RSI indicator shows neutral signal and is expected to remain unchanged in the nearest future.

Traders' sentiment
SWFX market participants are optimistic regarding the potential strength of the single European currency, since 72% of traders hold long positions and only 28% of traders hold short positions. The situation with orders is completely neutral, as exactly 50% of traders ordered to buy and 50% ordered to sell the Euro.
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Actual Topics

Tue, 21 Aug 2012 22:23:47 GMT

EUR/AUD confronts upper Bollinger band at 1.1916

Today the EUR/AUD currency couple made a significant move upwards, and a new monthly high has already been reached. As for now the price confronts the upper Bollinger band at 1.1916, which is likely to slow down the rally. In case it is breached, then the currency pair might reach the 55-day SMA at 1.1962, which is expected to change

Tue, 21 Aug 2012 14:54:39 GMT

NZD/USD up for bull rally

NZD/USD has appreciated and is successfully trying to form a double top pattern on the 1D chart. Bollinger band at 0.8165 should slow down the pair's advance for a few days, but it should eventually form a second pattern's top around 0.8300. 

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