EUR/USD to breach 1.2587/73

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Traders expect the ECB to move to bolster the region's economy by cutting its main refinancing rate by 25 basis points to 0.75 percent at its policy meeting on Thursday"
- CNBC

Pair's Outlook
EUR/USD was unable to sustain Friday's rally due to an encounter with a tough resistance located at 1.2671/84. This has lead to a pullback to a support at 1.2587/73, which may trigger some temporary short-squeezing, but is expected to be soon eroded nevertheless. Additional levels are to be found at 1.2483 and 1.2418/1.2399, since the overall outlook remains bearish.

Traders' Sentiment
SWFX traders' sentiment towards EUR/USD remains neutral, as the ratio between long and short positions is 51% to 49%, regardless of the common currency being the most popular among its major counterparts. The situation with orders placed on the pair is very much alike, as 49% of them are buy orders and 51% are sell orders, signifying current indecision of market participants.

© Dukascopy Bank SA
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Actual Topics

Tue, 03 Jul 2012 07:11:33 GMT

GBP/USD to be capped by 1.5733/35

Despite GBP/USD edging higher, currency pair's current upward momentum is deemed too weak to overcome 1.5733/35 at the moment. Therefore the price is likely to bounce off this resistance and perform a bearish correction down to 1.5624/20 or even to 1.5570/34 prior to commencing robust recovery up to a long-term target that lies at 1.6140.

Mon, 02 Jul 2012 15:31:12 GMT

Kiwi is bullish against the greenback; tries to touch 0.8082

The Kiwi dollar inched higher against the US dollar, and at the moment the pair is heading towards an initial resistance at 0.8082 (61.80% Fibo). Once this level is breached, 0.8166 (R2 Weekly) and 0.8227 (R1 Monthly) are going to be next targets among bullish traders.

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