EUR/USD denied by 1.3568/52

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Indications of another long-term refinancing operation "would be seen as putting downward pressure on European market interest rates and would put downward pressure on the euro."
- Commonwealth Bank of Australia (based on Bloomberg)

Pair's Outlook

EUR/USD did not manage to gain a foothold above 1.3568/52 yesterday, but nonetheless remains bullish, being that none of the nearest supports were violated when the currency pair started to retreat after attaining a new high. There is a possibility, however, that the Euro will first come down to the area at 1.3458/44 before re-challenging the resistance that safeguards Feb high at 1.3711.

Traders' Sentiment
While the level of U.S. Dollar's popularity has been on the decline lately (the share of Dollar-long positions in its crosses has fallen from 66% to 60%), the Euro is apparently getting more and more attractive in the SWFX marketplace. Right now 42% of all the positions on EUR/USD are long, yesterday their portion was only 35%.
© Dukascopy Bank SA
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Actual Topics

Wed, 02 Oct 2013 07:06:29 GMT

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