EUR/USD falls sharply

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Images of protests in Greece during Angela Merkel's visit reminded markets that severe austerity measures imposed in Europe come at a large social cost, casting a dark shadow of doubt on a quick resolution in Europe"
- Credit Agricole (based on CNBC)

Pair's Outlook

After breaching 1.2963/39 the currency pair dived to 1.2856/26 yesterday, which holds for now, but is nevertheless being eroded. The support is reinforced by a subsequent level at 1.2799/84, meaning that together they are likely to withstand bearish pressure. However, if this key area is breached, the medium-term outlook will be changed to a negative one.

Traders' Sentiment
Bearish sentiment of SWFX marketplace participants has become even less distinct, as the difference between the shares of short and long positions has narrowed to 8% from 14% yesterday. Distribution among buy and sell orders also does not give a clear insight into current preferences of the market, being 53% to 48%, respectively.

© Dukascopy Bank SA
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Actual Topics

Wed, 10 Oct 2012 06:51:02 GMT

GBP/USD struggles at 1.6000/1.5967

GBP/USD declined along with EUR/USD, although to a more modest extent. The currency couple is presently attempting to overcome 1.6000/1.5967 and is expected to remain on a bearish path, even though a chance of a consolidation/correction increases. The next target lies at 1.5911, while the nearest serious threat to current downward tendency is located at 1.5828/04 (200-day SMA).

Tue, 09 Oct 2012 18:12:02 GMT

XAU/USD gradually approaching 20-day SMA

The bearish movement, which started three days ago, managed to continue, and today the XAU/USD exchange rate experienced another consequent bearish reaction. At the particular moment the price is gradually approaching the 20-day SMA at 1771, which might bring some bullish impulse. If it is breached, then next resistance at 1762 (weekly S1) will probably stop the current movement downwards.

Tue, 09 Oct 2012 18:01:02 GMT

GBP/JPY experiences slight bullish correction

The bearish reaction, which occurred yesterday, failed to continue, as today the GBP/JPY currency pair experienced a slight bullish correction. As for now, the price faces the weekly S1 at 125.73, which might bring some bearish momentum, however if it is broken, then the currency couple is expected to reach the 200-day SMA at 126.29, which in turn is very

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