EUR/USD to struggle at 1.2660

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Spanish bailout is positive for the euro because it is evidence that policy makers are willing to act"
- Westpac Banking Corp. (based on Bloomberg)

Pair's Outlook
Following a quick rally of EUR/USD at the end of the last week, the currency pair is consolidating ahead of a resistance located at 1.2660. In case it is overcome, the price will face even stronger levels at 1.2746/77 and 1.2848/1.2900, which are unlikely to be breached any time soon, given the bearish outlook suggested by the majority of technical indicators on weekly and monthly time frames.

Traders' Sentiment
The single European currency remains as the most frequently (69%) bought on SWFX marketplace, followed by the Australian Dollar. Nonetheless, traders' sentiment towards EUR/USD is currently mixed, since the share of long positions on the pair is 52% and the portion of short ones is 48%.

© Dukascopy Bank SA
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Actual Topics

Mon, 11 Jun 2012 07:25:06 GMT

GBP/USD is gaining bullish momentum

The second attempt to conquer 1.5538 was successful for GBP/USD. At the moment the currency couple is approaching 1.5564, which is not expected to provide sufficient resistance to halt the price from advancing further. Accordingly, we may soon observe attainment of areas situated at 1.5649/67 and 1.5764/73. An initial support, on the other hand, may be found at 1.5538, followed

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