EUR/USD holds accelerated uptrend

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The absolute amount of tapering will be the key. We anticipate that we'll see the dollar strengthen in the event that we get at least $10 billion worth of tapering. If we were to get less than $10 billion, that would certainly throw some doubt over whether the Fed is seriously going to persist with tapering and end their purchases, and we'll see the dollar weaken on that." 
- Royal Bank of Scotland Group (based on Bloomberg)

Pair's Outlook
Pair maintains it's bullishness and stays in the accelerated uptrend after a bounce from the 50% retracement of July to August move. June high/monthly R1 and close proximity of the August high/weekly R1 keeps the pair under pressure. Only a close above the latter one would uplift most of the downside risk and put 1.35 2 on the map. However, the mentioned area remains as likely to fail the pair as ever. In such case we could see a fall to 200-day SMA to 1.314.    

Traders' Sentiment
Situation in the market is exactly the same as yesterday. 67% of traders remain short on the pair and pending orders are perfectly evenly distributed between the long and short traders.

© Dukascopy Bank SA
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Actual Topics

Wed, 18 Sep 2013 08:24:06 GMT

USD/CHF in defensive

Despite the recent gains it is obvious the pair is on the defensive and cannot advance above the 0.93 resistance area.

Tue, 17 Sep 2013 15:03:24 GMT

NZD/USD pushes through 0.82

The currency pair continues to struggle with 0.82, as it yet has to close above this resistance. Still, the 200-day SMA has already given in, meaning the medium-term outlook on the New Zealand Dollar is rather bullish than bearish now, with the April high at 0.8676 as a likely target.

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