EUR/USD to step lower

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Source: Dukascopy
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“Economic growth in Europe and the U.S. is notthat good, and that will put pressure on the euroand give a bid to the dollar”- Commonwealth Bank (based on Reuters)Industry outlookIn the short-term the bullish momentum is likely to fade away and slowly turn into a bearish one, which is expected to drag the pair down to 1.3515 en route to 1.3428/1.3360. Further euro' depreciation will lead the price even lower-to the level at 1.2860.Traders' sentimentThe common currency has hardly more supporters than the American dollar. The share of longs has increased up to 50.37%, whereas the percentage of shorts has diminished and reached 49.63% in EUR/USD market.Long position openedInvestors should pay close attention to the identified resistance levels for the pair at 1.3665, 1.3736 and 1.3880.Short position openedA part of the brokers will close their short positions near the initial support level at 1.3522. In case of a downtrend continuation, the pair might rebound from the S2 at 1.3449 or S3 at 1.3305.
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Fri, 30 Sep 2011 12:38:00 GMT

EUR/JPY to continue advancing

“There would be demand for safe haven currencies, like the dollar and yen”- Commonwealth Bank (based on Bloomberg)Industry outlookEUR/JPY extends its rebound from a strong support at 101.15, which is anticipated to last until 105.67 or 107.97/108.45. Dips will be limited by support lines located at 102.60, 101.95 and 101.15.Traders’ sentimentMore traders have become confident in the Japanese yen, as

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