EUR/JPY targeting 100.205/100

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We had multiple weeks of an impressive rally in equities, commodities and the euro, but they are all vulnerable here as investors pare back on their long positioning."
-Commonwealth Foreign Exchange (based on Reuters)

Pair's Outlook
Pair continues its depreciation after receiving a push from Fibonacci retracement (23.6% of move since 24th of July) at 101.560 and currently is targeting cluster of support levels around 100. It is highly likely pair won't succeed due to strong underlying support in those levels. Technical indicators support probability of such scenario as well.

Traders' Sentiment
Bears gained some ground during the weekend and currently 55% of all open positions are short on the pair. However, overwhelming majority, 67%, of all pending orders are buy orders creating a presumption of strong support for the pair in lower levels.

© Dukascopy Bank SA
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Actual Topics

Mon, 24 Sep 2012 15:25:41 GMT

AUD/USD testing 1.0403/392

Pair received a strong push from resistance levels around 1.500 and currently is testing cluster of support levels around 1.0403/392. Although technical indicators point at recovery of the pair it is much more likely that the pair will continue to depreciate.

Mon, 24 Sep 2012 08:03:20 GMT

USD/CHF steps higher

Despite proximity of a formidable resistance area at 0.9376/0.9406 the U.S. Dollar carries on getting firmer relatively to the Swiss Franc. Nonetheless, current bearish outlook is preserved, unless the zone gives in and paves the way towards subsequent resistances that are considerably weaker, namely 0.9421/41 and 0.9486, which are thus less likely to halt advancement of the pair.

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