EUR/USD's outlook is from neutral to bearish

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There are still people predicting the $1.2000 level in the euro by year end"
- Cambridge Mercantile Group (based on CNBC)

Pair's Outlook
EUR/USD continues to consolidate just below a 55 day SMA at 1.2406, but is nevertheless unlikely to overcome it and then resume advancement towards a key resistance at 1.2618/44, being that most of indicators on a weekly timeframe give "sell" signals. An interim support lies at 1.2337/34, followed by 1.2264/26 and 1.2060/1.1996.

Traders' Sentiment
At the moment 47% of SWFX marketplace participants are holding long positions, expecting appreciation of the Euro. On the other hand, 53% of traders are short on the pair, implying mixed overall sentiment towards the currency couple. Moreover, the share of buy orders is 51% and sell orders constitute 49% of the total amount.

© Dukascopy Bank SA
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Actual Topics

Wed, 08 Aug 2012 07:18:46 GMT

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