EUR/USD to aim for 1.2128/06

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The markets are extremely jittery and are willing to react negatively to any sign that the European authorities are unwilling to work together to save the euro zone"
- Forex.com (based on MarketWatch)

Pair's Outlook
EUR/USD has temporarily stopped near yesterday's support at 1.2240, but should continue sliding downwards, as suggested by most of indicators for all three time frames. The closest support at the moment lies at 1.2200 and guards subsequent levels at 1.2128/06 and 1.1986/26, where we are likely to see a more pronounced rebound.

Traders' Sentiment
Step by step the portion of long positions on EUR/USD is increasing, already reaching 62% of the market. Short positions are in distinct minority, as the Euro is the most popular currency at the moment, being acquired in 74% of cases. Buy orders, on the other hand, constitute only 41% of the total amount, implying that most of market participants do expect a rally, but a rather shallow one.

© Dukascopy Bank SA
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Actual Topics

Wed, 11 Jul 2012 06:59:50 GMT

GBP/USD's near-term outlook is bearish

The Cable has tested formidable resistance at 1.5530/53, proving insufficiency of strength of bullish momentum in order to overcome this level and to challenge some of the higher zones - 1.5583/92 and 1.5646/51. Accordingly, GBP/USD is expected to inch lower, possibly even down to 1.5291/56, however, may be underpinned by 1.5389/85 and commence robust recovery there.

Tue, 10 Jul 2012 15:29:18 GMT

NZD/USD breaches 200-day SMA; 0.7922 is in focus

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