EUR/USD to test 1.2645/42

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Source: Dukascopy Bank
© Dukascopy Bank
"The market's very concerned about contagion and Spain probably being the biggest focus of attention after Greece. If the euro breaks $1.26, there's probably not a lot of stops going to the lows that we saw in 2010"
- Rochford Capital (based on Bloomberg)

Pair's Outlook
EUR/USD has decided not to interrupt its move downwards and is about to hit a support at 1.2645/42, which stands in the way of reaching 1.2580. Given preceding behaviour of the pair, it is likely that it will slide down to 1.2509 eventually, break of which would imply increased possibility of extension of a dip to 1.18 - downtrend support.

Traders' Sentiment
According to SWFX Sentiment index, the ratio of bullish market participants to bearish ones remains more or less stable and currently is 63% to 37%. Moreover, the single European currency remains the most popular at the moment, being bought much more frequently than its major counterparts.

© Dukascopy Bank
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Actual Topics

Fri, 18 May 2012 08:16:48 GMT

GBP/USD to focus on supports

GBP/USD has experienced a massive sell-off yesterday, which does not seem to have ended yet. Being that a key support at 1.5781 has already been violated, the Cable is currently headed towards 1.5616 and 1.5557, below which lie 1.5427 and a long term target 1.5260. In the meantime, rallies should by capped by a relatively strong resistance area located at

Thu, 17 May 2012 07:46:10 GMT

USD/CHF to slip down to 0.9372/59

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