EUR/USD to resume trading downwards

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If we fail to achieve any fiscal integration in coming months, we could be facing a clear further deterioration in market conditions. In particular, we could see a period of increasing capital flight out of the euro zone"
- Nomura (based on WSJ)

Pair's Outlook
A formidable support area at 1.2565/85 managed to repel the currency pair, supposedly bringing to an end bullish correction, which was started after an encounter with a downtrend support at 1.2334/16. In case EUR/USD still erodes 1.2565/85, resistances at 1.2660 and 1.2773 will come into play, limiting further gains. An interim support, on the other hand, may be found at 1.2436, followed by a key zone at 1.2300/1.2249.

Traders' Sentiment
Disposition of long and short positions on EUR/USD remains unchanged, as bulls constitute 49% of the market, while the portion of bears is 51% at the moment. At the same time the common European currency keeps its status as the most popular among traders in SWFX marketplace.

© Dukascopy Bank SA
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Actual Topics

Thu, 07 Jun 2012 06:56:21 GMT

USD/JPY closed above 79.03/24

USD/JPY appears to have finally breached a downtrend resistance line that weighed upon the currency couple for almost three months. The pair has left a bearish channel and is currently trading above a significant support area at 79.03/24. Nonetheless, to confirm its bullish intentions, USD/JPY will have to conquer 80.03/14 as well, prior to further advancement.

Wed, 06 Jun 2012 19:45:27 GMT

NZD/USD is still trading flat

NZD/USD continued trading in a flat trend over mixed US macroeconomic data.  If  the bearish momentum to emerge, support levels at 0.7619 (R1 Weekly; upper support level) and 0.7590 (23.60% Fibo) are going to be the initial targets. Near 0.7417/0.7368, a consolidation and further trend reversal is highly probable as bears will face a fierce bullish resistance there.

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