EUR/USD supported by the 23.6% Fibo and August peek

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The euro recovery we are seeing at the moment is putting Draghi's statement into perspective that a possible LTRO is dependent on the economic outlook staying weak."
- Commerzbank (based on The Economic Times) 

Pair's Outlook
Pair has dipped below the support of the accelerated uptrend and at the moment is being supported by the 23.6% Fibo (September rise)/August peak. It indicates that the appreciation potential is rather limited from here—It might rise to monthly R2, but very unlikely any higher. Close below the 1.345 could send the pair to 20 and 55-day SMAs in 1.33 area.

Traders' Sentiment
Market sentiment changed marginally—66% of market participants are short on the pair, that is 1% less than yesterday. Significant change can be seen in distribution of pending orders. Bullish side decreased by 6% and overall gauge is at 51% today.

© Dukascopy Bank SA
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Actual Topics

Wed, 25 Sep 2013 08:02:33 GMT

GBP/USD at Fibo 23.6%

It becomes evident that pair ahs formed a top and at the moment is trading on 23.6% Fibo (September rise).

Tue, 24 Sep 2013 14:13:04 GMT

NZD/USD may slip beneath 0.8317/10

Although NZD/USD has not yet decisively breached the support at 0.8317/10, there are almost no doubts that the weekly pivot point, together with the monthly R2, will fail to halt the pair from moving farther south.

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