EUR/CAD slowly approaching 20-day SMA at 1.2625

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Outlook
The bearish trend, which started a couple of days ago, successfully managed to continue, and today the EUR/CAD currency pair experienced another bearish reaction. As for now, the currency couple is slowly approaching the 20-day SMA at 1.2625, which is expected to bring some bullish impulse. If it fails to stop the downtrend, then next support at 1.2554 (monthly R1) will probably change the direction of the prevailing movement downwards. Additionally, RSI indicator still shows a neutral signal, however, the overall indicator outlook is bullish.

Traders' sentiment
SWFX market participants have mixed feelings regarding the EUR/CAD currency couple, as 42% of traders hold bullish positions and 58% of traders hold bearish positions. The situation with orders shows a complete contrast, since 76% of traders ordered to buy and only 24% ordered to sell the Euro.
© Dukascopy Bank SA
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Actual Topics

Thu, 27 Sep 2012 15:18:19 GMT

EUR/JPY stuck slightly below 100

Pair continues to depreciate, but it seems that 100 JPY level wont give up that easy as currently pair is stuck at uptrend support (connects 24th of July and 5th of September) right below it at 99.93. It is plausible we shall see a minor bullish correction/pullback  to 20 bar SMA at 100.642, but after that pair should resume depreciating

Thu, 27 Sep 2012 17:19:28 GMT

EUR/AUD experiences significant bearish reaction

Today EUR/AUD experienced a significant bearish reaction, which has already managed to breach the 20-day SMA at 1.2396, and now the currency couple is about to test the weekly R1 at 1.2336, which might slow down the prevailing downtrend. In case it is broken, then the price might reach the lower Bollinger band at 1.2269, which in turn is expected

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