EUR/USD's outlook is from neutral to bearish

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There are still people predicting the $1.2000 level in the euro by year end"
- Cambridge Mercantile Group (based on CNBC)

Pair's Outlook
EUR/USD continues to consolidate just below a 55 day SMA at 1.2406, but is nevertheless unlikely to overcome it and then resume advancement towards a key resistance at 1.2618/44, being that most of indicators on a weekly timeframe give "sell" signals. An interim support lies at 1.2337/34, followed by 1.2264/26 and 1.2060/1.1996.

Traders' Sentiment
At the moment 47% of SWFX marketplace participants are holding long positions, expecting appreciation of the Euro. On the other hand, 53% of traders are short on the pair, implying mixed overall sentiment towards the currency couple. Moreover, the share of buy orders is 51% and sell orders constitute 49% of the total amount.

© Dukascopy Bank SA
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Actual Topics

Wed, 08 Aug 2012 07:18:46 GMT

USD/JPY bounced off 78.71

USD/JPY has effortlessly pierced through 78.43/42, but failed to penetrate 78.71 and the price is currently drifting lower. The pair is expected to make another attempt to erode the nearest resistance and get closer to a key level at 79.49/50, overcoming which would imply medium-term bullish behaviour, though additional resistances at 78.92/79.11 and 79.29 will have to be breached.

Tue, 07 Aug 2012 17:16:08 GMT

EUR/AUD confronts 1.1768

EUR/AUD currency pair experiences another bullish reaction today, after the recent decline was stopped at 1.1729, and now the price is facing a 20-day SMA at 1.1768, which might change the presently established tendency. In case it is broken, then the currency couple might reach monthly R1 at 1.1827, which will probably reverse the bullish tendency. Moreover, RSI indicator went out of the over-sold area

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