EUR/USD faces a major downtrend line

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The consensus is that the ECB will announce on Sept. 6 a new plan to help stabilize the short end of the peripheral bond markets"
- National Alliance Securities (based on MarketWatch)

Pair's Outlook
EUR/USD has once again run into a strong resistance at 1.2556/1.2633, but still appears to be unable to overcome it. Therefore we expect a bearish scenario to unfold from here, since a major downtrend resistance line should continue to contain the pair and prevent further appreciation of the single European currency.

Traders' Sentiment
While the U.S. Dollar remains the most popular in the SWFX marketplace, being acquired in 64% of cases, the share of bullish towards EUR/USD traders is diminishing and is 40% at the moment. Accordingly, bearish market participants expand their dominance and already constitute 60% of the market.

© Dukascopy Bank SA
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Actual Topics

Wed, 29 Aug 2012 06:51:46 GMT

GBP/USD surges up to 1.5824

Buying pressure within a support area from 1.5768 to 32 reignited bullish behaviour of the pair, suggesting that the pair intends to advance towards 1.6098, though the journey will not be as quick as previously estimated. Moreover, there will be considerable risks to the rally represented by resistances at 1.5887/1.5915 and 1.5983/1.6031.

Tue, 28 Aug 2012 21:24:07 GMT

GBP/JPY retains bearish tendency

The downtrend, which started almost a week ago, continues, as today the GBP/JPY currency couple experiences another bearish movement. As for now, the price is gradually heading towards the 20-day SMA at 123.83, which might slow down the bearish tendency, however, if it fails to stop the prevailing downtrend, then the currency pair might reach the 55-day SMA at 123.43,

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