EUR/USD attempts to break 1.2924/22

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The euro is positioned to extend its rebound, and we expect a move back up to September levels from 1.3170 to 1.34 for the year-end"
- Morgan Stanley (based on CNBC)

Pair's Outlook

Both daily and weekly technical indicators continue to give "buy" signals, implying EUR/USD has not yet reached its ceiling. In the medium term it is considered to be situated around 1.33, although the currency pair will have to overcome a number of tough resistance prior to reaching it, such as 1.3024/36 and 1.3115/51. Alternatively, the nearest supports are at 1.2924/22 and 1.2834/09.

Traders' Sentiment
The majority of market participants are still bearish towards EUR/USD, being that 57% of positions are short and consequently, 43% of them are long. The similar picture is observed with respect to distribution among pending orders, 45% of which are buy and 55% are sell.

© Dukascopy Bank SA
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Actual Topics

Mon, 15 Oct 2012 07:09:46 GMT

GBP/USD is heading south

Following a shallow upward rally due to short covering, bears have regained control of GBP/USD's direction. While the initial two supports, at 1.5996/72 and 1.5895, are highly unlikely to pose a serious threat to the current momentum, 1.5861/16 may prove to be a formidable area. Rallies, in the meantime, are to be contained by resistances at 1.6055/85 and 1.6118/35.

Fri, 12 Oct 2012 15:22:40 GMT

NZD/USD testing 0.82 for the third day in a row

For the past 3 days pair has been trying to advance above 0.82. Although pair is unlikely to advance far above this level or even breach this level, it should be kept close to this level by Fibonacci retracement (38.2% of 5th of September— 14th of September move)/weekly pivot point at 0.8185/78.

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