EUR/JPY advances above monthly R1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Our European partners have to understand that opting for recession can't go on. The euro is too strong, and if it were 10% lower (against the dollar) we would increase our national wealth by 1.2%, create 120,000 jobs and reduce our deficit by 12 billion euros ($16.44 billion). If the euro went down by 20%, we would create 300,000 jobs and reduce our deficit by one-third."
- French Industry Minister (based on MarketWatch)

Pair's Outlook
Pair eroded the resistance of weekly R1, September high and at the moment is aiming at weekly R3 at 136.11. Due to the momentum it is demonstrating lately the pair is very likely to do so. We should not be very surprised in case of a minor fail, however. Market bulls can easily choose to capitalize on their gains at the moment which would push the pair lower. If the pair advances above 136.11 it would put 2009 high on the map with 137.75 being the main interim target.

Traders' Sentiment
Bears seems to be gaining upper hand in the market further. At the moment they account for 57% of market participants. It is 5% more than yesterday. In addition to this, bullish side of pending orders contracted by additional 3% since yesterday (6% since Friday) and is at 63% gauge today.

© Dukascopy Bank SA
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Actual Topics

Tue, 22 Oct 2013 15:47:48 GMT

AUD/USD aiming at June high

Pair received a bullish impetus from the 200-day SMA and is aiming at June high at the moment.

Tue, 22 Oct 2013 06:52:51 GMT

USD/CHF rests near Feb low

While our medium and long term bias towards USD/CHF stays bullish, at the moment the currency pair seems to be unable to break free from the gravity of 0.9021 (Feb low).

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