EUR/USD kept afloat by weekly PP

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"With investors already interpreting this focus [on inflation] as highlighting ECB constraints, such comments [by Draghi] should again clear the way for euro upside."
- Credit Agricole (based on Bloomberg)

Pair's Outlook

The currency pair stays above the weekly PP, but at the same time appears to be unable to rekindle a sufficiently strong bullish momentum for now. Nevertheless, the Euro is expected to realise its upward potential and appreciate up to 1.3711. Once EUR/USD reaches the February high, the next target is likely to be the major down-trend resistance line at 1.3862.

Traders' Sentiment
There are currently almost twice as many short positions (66%) on EUR/USD as there are long ones (34%), meaning the sentiment in the SWFX marketplace is heavily skewed in favour of the Euro's underperformance.
© Dukascopy Bank SA
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Actual Topics

Wed, 09 Oct 2013 06:44:02 GMT

GBP/USD's rally is challenged by 1.6102/1.6083

Although the buying pressure continues unabated, the supply area at 1.6102/1.6083, created by the weekly PP, 20-day SMA and a trend-line, is not letting the price to rise and thereby to enter the upper part of the upward-sloping channel.

Tue, 08 Oct 2013 14:57:40 GMT

NZD/USD stable around 0.83

Pair seems to be heading towards almost identical (just bullish) session like yesterday as 0.83 keeps holding as a key support.

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