EUR/USD experiences pressure from above

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy
"We would see a bit more downside in the near term for the euro. Economic numbers are hurting the euro and the lack of a Spanish bailout is also hurting"
- Westpac Banking Corp. (based on Bloomberg)

Pair's Outlook
EUR/USD pair experienced a strong downside impetus during yesterday trading session. The previous support level at 1.3024 was unable to maintain an impulse power and currently the price is around a 1.2970 level. Also, the exchange rate is breaching uptrend line, which was started on July 24. If the price settles below this line, it is very likely to see EUR/USD depreciation in the short run.

Traders' Sentiment
A major part of SWFX market participants still have bearish sentiments, as 57% traders keep a long position and 43% a short one. Placed orders segment is almost balanced, as 51% have placed an order for a long position and 49% for a short position.
© Dukascopy
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Actual Topics

Wed, 24 Oct 2012 07:49:11 GMT

GBP/USD slips below 1.5995

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