EUR/USD struggles with 1.3408/1.3388

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is risk aversion for holding net long euro positions ahead of Italian elections which has important ramifications across Europe. If there was a loose and erratic coalition, it would be very negative for euro/dollar."
- BBVA (based on CNBC)

Pair's Outlook

Being that presently the currency pair is trying to overcome the nearest resistance 1.3408/1.3388, we are more confident that the bearish correction is now over. Accordingly, during the next few days the price should remain in a bullish mood. In the medium term EUR/USD is likely to be headed towards 1.3660, though monthly technical indicators are strongly bearish.

Traders' Sentiment
Slowly but steadily the bears are strengthening their position in EUR/USD currency pair. At the moment 57% of positions are short, while 43% of them are long. The difference between the buy and sell orders has completely vanished, as both now constitute equal portions of their sum.
© Dukascopy Bank SA
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Actual Topics

Wed, 20 Feb 2013 08:11:27 GMT

GBP/USD steps lower

Yesterday's dip was unable to violate a falling trend-line at 1.5428, as bulls managed to delay formation of a down leg by initiating a shallow rally this morning.

Tue, 19 Feb 2013 16:27:28 GMT

NZD/USD's downside risk increases

Since NZD/USD was unsuccessful at gaining a foothold above a key resistance line, most of the action during at least the second part of the current month is likely to be seen beneath 0.8476.

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