EUR/JPY pushed back below 100

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Political risks may linger, but market-systemic risks have significantly abated, given the European Central Bank's readiness to act. We continue to remain bullish on euro."
-BNP  Paribas (based on  Market Watch)

Pair's Outlook
Pair rebounded from Bollinger's band at 100.576 and is back below 100. Cluster of resistance levels above current price and technical indicators suggest that this bearish correction should last for few more days. However, weekly PP at 99.501 should provide enough support and keep pair in tight range.

Traders' Sentiment
Trader sentiment today is bullish as 53% of traders hold long positions on the pair. Amount of pending buy orders increased further and currently is at 75% mark, suggesting we might see a rally once pair breaches some major level.

© Dukascopy Bank SA
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Actual Topics

Thu, 13 Sep 2012 15:12:14 GMT

AUD/USD rebounds from 1.05

Pair did not managed to hold above 1.05 and it seems we will se a bearish correction which was anticipated by market participants for some time now. It is likely drop will be rather sharp, but support levels around 1.04 should hold on pair there for some time.

Thu, 13 Sep 2012 07:53:50 GMT

USD/CHF defies bullish outlook

USD/CHF has effortlessly pierced through a confluence of supports at 0.9410/0.9385, signifying that proximate rallies are likely to act as bullish corrections rather than an establishment of a long-term trend. The initial support lies at 0.9317, while subsequent levels are at 0.9253 and 0.9205, but these are not viewed as probable turning points.

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