EUR/USD bounces of the 100 and 200-day SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Investors do not want to be long euros heading into the ECB meeting this Thursday. We haven't heard for a while from (President Mario) Draghi. We expect him to say conditions remain soft despite an improvement in the data and pledge to keep rates low."
- UBS (based on Reuters)

Pair's Outlook
Pair continued to depreciate yesterday, but found support with the 100 and 200-day SMAs and recovered half of then losses. This level could push some of the bears to capitalize on their gains and we might see some minor rally. However, despite the medium and long term technicals we expect the pair to grind lower towards the 1.30. Unexpected rise above the 1.325 would put 1.335 and 1.344 on the map.

Traders' Sentiment
Situation in the market remains exactly the same as yesterday. Long and short positions amongst traders are distributed 52% to 48% respectively. Distribution of pending orders remains in the same state as well (54% to go short 46% to go long).

© Dukascopy Bank SA
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Actual Topics

Wed, 04 Sep 2013 08:22:39 GMT

GBP/USD remains bullish

Despite the setback at weekly R1 pair managed to finish yesterday's session with gains.

Tue, 03 Sep 2013 14:08:22 GMT

NZD/USD wavers

The weekly pivot point at 0.7786 fell victim to the short-squeeze yesterday, meaning that NZD/USD is able to advance farther, in the direction of more serious resistances, such as the 55-day SMA at 0.7896 or the 100-day SMA at 0.7940.

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