EUR/USD advances above the 200-day SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The ZEW index turned out surprisingly bad. That is not a good sign for the euro zone and shows that not everything in Germany is as rosy as people think." 
- Metzler Bank (based on Reuters)

Pair's Outlook

Pair received a bullish impetus from the 55-day SMA which sent it 120 pips higher. In course of doing so pair managed to breach the 200-day SMA. It is very likely that bullish bias will persist and push the pair higher, however, Fibo 23.6% (mid-may to mid-June move) is likely to fail the pair. Short term dips should find support at 1.305.
 

Traders' Sentiment

Market sentiment became slightly more bullish since yesterday. Number of bears in the market increased by 2% and is at 54% gauge today; share of pending orders posted by the bulls decreased by 2%  and is at 53% gauge.

© Dukascopy Bank SA
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Actual Topics

Wed, 17 Jul 2013 08:38:42 GMT

GBP/USD continues to struggle with the 20-day SMA

Short term technicals continue to point at heightened downside risk of the pair.

Tue, 16 Jul 2013 13:59:57 GMT

NZD/USD rebounds from 0.7788/51

NZD/USD has just confirmed 0.7788/51 as the support and is now headed en route to the nearest important resistance at 0.7947/31, where the weekly R1 merges with the 55-day SMA.

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