EUR/USD to hit 1.2320/1.2283

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is no conviction and there is no belief that things are going to get better in the euro region"
- Nomura Holdings Inc. (based on Bloomberg)

Pair's Outlook
Bullish advancement from 1.2337 was not sustained for a prolonged period of time and has already come to an end ahead of 1.2660. At the moment EUR/USD is consolidating near 1.2463, after a precipitous fall. Nevertheless, bearish momentum is expected to persist and drag the currency pair down to 1.2320/1.2283 or even 1.2200/1.2181, if the preceding area fails to halt the price.

Traders' Sentiment
Despite the Euro being the most popular currency among its major counterparts, SWFX marketplace traders' sentiment towards EUR/USD remains neutral, as currently the ratio between long and short positions is 54% to 46%. Moreover, the share of sell orders (51%)slightly exceeds the portion of buy orders (49%) placed on the currency pair.

© Dukascopy Bank SA
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Actual Topics

Tue, 12 Jun 2012 07:13:23 GMT

GBP/USD attempts to breach 1.5535/45

GBP/USD is still being capped by a tough downtrend resistance line at 1.5535/45, which should be overcome eventually, given strong positive outlook of the currency couple, which will be preserved as long as a key support level located at 1.5271/57 is intact. Following a bullish breakout of 1.5535/45, the Cable is likely to target 1.5649/67 next, then 1.5764/70.

Mon, 11 Jun 2012 19:26:36 GMT

EUR/JPY reiterates bullish reversal

EUR/JPY bullish momentum added steam today as the Eurozone member states agreed to provide a 100B EUR financial support for Spain to preserve its banking system. In case bullish momentum holds ground, the pair is likely to test the 101.42 level (Initial resistance line) and the zone around 103.74/53 (55-day ma; R1 Monthly).

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