EUR/USD advances fourth day in a row

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Foreign demand and domestic investor demand have been equally negative, and looking ahead they'll be significant factors in driving a weaker euro. The euro is going to be one of the key underperformers in the Group of 10 universe."
- BNP Paribas (based on Bloomberg)

Pair's Outlook

The European currency strengthened against the Buck yesterday, thus breaking the resistance at 1.27. Now EUR/USD is facing the 2013 low at 1.2740, but the rally may extend up to the 1.2850/00 area without threatening the overall bearish outlook. There the bulls are expected to be stopped by the monthly PP, 55-day SMA and 23.6% retracement of the Jul-Oct down-move. Meanwhile, the technical indicators are mixed—bearish on the weekly and bullish on the monthly charts.

Traders' Sentiment

The SWFX market remains indifferent with respect to the Euro—the shares of long and short positions are perfectly equal at the moment, even though the currency is not standing in one place.
© Dukascopy Bank SA
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Actual Topics

Wed, 29 Oct 2014 08:01:57 GMT

GBP/USD to bounce off 1.62

Although the four-month down-trend at 1.61 is no longer a ceiling, the dense resistance at 1.62 should be more than enough to prevent more weakness in the US Dollar.

Tue, 28 Oct 2014 15:56:08 GMT

NZD/USD continues its recovery

Already starting from the previous Friday the pair is on a healthy recovery from the Wednesday‘s drop that sent the pair below the 0.79 mark.

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