EUR/USD remains bearish

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Recent data suggest that the European economy is likely to remain weak for a long time. We're not sure whether Spain is really going to ask for bailout, weighing on the euro"
- Mizuho Trust & Banking Co. (based on Bloomberg)

Pair's Outlook

Last night the major currency pair experienced another bearish correction and now the price is gradually approaching the weekly Pivot Point and 20-day SMA at 1.2866 level, which might bring in some bullish impetus into the market. In case this level is breached, the price may drop another 100 pips and reach the intersection level of weekly S1 and monthly R1 at 1.2766. Generally, indicators' signals are mixed, therefore trader's sentiments might have essential impact on the price direction.

Traders' Sentiment
Traders at SWFX market remain pessimistic about the EUR/USD exchange rate perspectives, as 41.8% of traders have long positions and 58.2% of investors hold short positions. Situation in the pending orders segment is quite different, since 56.2% of traders ordered to buy and 43.8% ordered to sell EUR/USD currency pair.

© Dukascopy Bank SA
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Actual Topics

Wed, 26 Sep 2012 07:43:24 GMT

GBP/USD breaches the lower channel line

According to a D1 graph, seems that the cable has finally escaped from the channel and currently is checking the first support level at 1.6177/58, where the monthly R2 and weekly S1 intersect. If the price settles below this level, it is very likely that correction will gain more bearish impetus and extend the impulse even lower. Further support levels

Tue, 25 Sep 2012 19:20:27 GMT

XAU/USD rebounds from monthly R2 at 1764

Today the XAU/USD exchange rate experienced another bullish correction, therefore supporting the interim bullish tendency, and now the price is gradually approaching the weekly R1 at 1794, which might bring some bearish impetus. In case it is breached, then the price might reach the upper Bollinger band at 1803, which in turn is expected to reverse the current movement

Tue, 25 Sep 2012 19:09:22 GMT

GBP/JPY experiences bullish correction

Today the bearish trend, which started two days ago, was stopped, as the GBP/JPY currency couple experienced a bullish correction, which has already managed to overcome the 200-day SMA, and at the particular moment the price is gradually heading towards the weekly PP at 127.28, which is expected to reverse the prevailing movement upwards. In case it fails to stop

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