EUR/USD jumps to weekly PP

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We saw a huge increase in [euro] shorts last week and potentially there is a little more to go."
- National Australia Bank (based on CNBC)

Pair's Outlook

EUR/USD rallied yesterday, but appears to be too weak to sustain a prolonged recovery. At the moment the pair is facing the resistance at 1.3596/72, created by the weekly PP and 20-day SMA. If it manages to breach this supply area, the subsequent obstacle will be the 200-day SMA, which is highly unlikely to let the Euro step any further north. Accordingly, the outlook is bearish, with the support at 1.3513/1.3475 considered to be the next victim of the sell-off.

Traders' Sentiment

The SWFX market remains undecided regarding the future of EUR/USD, as evidenced by nearly equal numbers of long (52%) and short (48%) positions. Similarly, there is no difference between the amounts of buy (48%) and sell (52%) orders.
© Dukascopy Bank SA
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Actual Topics

Tue, 17 Jun 2014 06:22:30 GMT

USD/CHF retains upwards momentum

USD/CHF may not be moving as fast as during the first half of May at the moment, but the risks are still skewed to the upside, being that the 200-day SMA acts as the support.

Mon, 16 Jun 2014 14:31:20 GMT

NZD/USD is little changed below monthly R1

The Kiwi was the best performing currency among G10 countries last week; therefore, its appreciation against the greenback is logical.

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