EUR/USD rebounds from 1.2856/1.2781

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Uncertainty about the Spanish bailout will remain as a significant downside risk in the euro zone, leaving sentiment cautious"
- Credit Agricole (based on MarketWatch)

Pair's Outlook

A formidable support area at 1.2856/1.2781 managed to prevent further debasement of the Euro and provided the pair with a strong bullish impetus. At the moment EUR/USD is struggling with 1.2927/63, but is poised for more gains in near future, as suggested by both daily and weekly technical indicators in aggregate. The next objectives lie at 1.3044 and 1.3122/51.

Traders' Sentiment
SWFX traders' sentiment remains stable towards EUR/USD, as 44% of positions presently are the long ones and 56% are the short ones, meaning that bears have a slight advantage at the moment over bulls. Concerning orders, 48% are to acquire the single currency and 52% are to sell it.

© Dukascopy Bank SA
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Fri, 12 Oct 2012 07:15:09 GMT

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