EUR/USD to erode 1.2463

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Ahead of the Greek election, market will likely continue to be range-bound, with support from the hope of more stimulus, while any gain is limited by the disappointment on the reality"
- Credit Agricole (based on MarketWatch)

Pair's Outlook
EUR/USD has stopped falling ahead of 1.2463 and is currently trying to commence a bullish correction, given the signals provided by daily technical indicators. However, in the medium to long run, the currency pair is viewed as bearish, trading within a downtrend channel. Therefore the Euro is supposed to continue depreciating relative to the U.S. Dollar while negating short-term rallies.

Traders' Sentiment
The gap between market participants who are holding long and short positions on EUR/USD has narrowed to 4%, as the share of bulls in the market is 52%, while bears constitute 48% of all the open trades. At the same time the single European currency preserves its status as the most popular among traders, as it is being acquired in 72% of cases.

© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 13 Jun 2012 09:36:43 GMT

GBP/USD has pushed through 1.5535/45

GBP/USD has managed to pierce through 1.5535/45 and should soon gain even more bullish momentum despite a considerable amount of formidable resistances that lie overhead. The initial level is situated at 1.5649/67, followed by an area at 1.5764/75, being a confluence of 200 day SMA, upper Bollinger band and weekly R2, which is unlikely to give in at the very

Tue, 12 Jun 2012 08:01:47 GMT

USD/CHF to erode 0.9637

As expected, USD/CHF did not manage to penetrate a tough support area at 0.9512/0.9497, which has send the pair towards 0.9637, where the price is likely to make a short-term bearish correction prior to further growth. After 0.9637 is passed, USD/CHF will encounter resistances at 0.9744/76 and 0.9857. On the other hand, an initial support may be found at 0.9590.

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.