EUR/USD rebounds from 1.2556/1.2633

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We can see fundamentals deteriorating in the euro region. The euro is in a long-term downtrend"
- Mizuho Securities Co. (based on Bloomberg)

Pair's Outlook
A cluster of resistances at 1.2556/1.2633 has stopped advancement of the currency pair and forced it to back off. However, EUR/USD might attempt to challenge resistance once again, since it did not confirm bearish bias by breaching the nearest support - an uptrend line at 1.2492/63, below which lies 1.2391/48 (55 day SMA). On the other hand, indicators give mixed signals.

Traders' Sentiment
SWFX traders' sentiment remains unchanged since the last week, as long positions continue to constitute 43% of the market and short positions - 57% of it. Additionally, sell orders are in majority (53%) as well, although their advantage over buy orders (47%) is not yet distinct.

© Dukascopy Bank SA
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Actual Topics

Mon, 27 Aug 2012 07:04:13 GMT

GBP/USD is underpinned by 1.5796/77

Prolonged bearish correction extended the dip of the cable down to 1.5796/77, but appears to be already terminated, being that the pair commences recovery. The initial resistance it should encounter is situated at 1.5824, while subsequent levels are to be found at 1.5873 and 1.5915. Still, despite short-term bullish outlook, in the long-term GBP/USD is deemed to be bearish.

Fri, 24 Aug 2012 20:48:56 GMT

GBP/JPY gradually approaching weekly PP at 124.04

Yesterday's downtrend managed to continue today, and now the GBP/JPY currency couple is gradually approaching the weekly PP at 124.04, which might slow down the movement downwards, however if it is breached, then the price might fall until the 55-day SMA at 123.45, which in turn is expected to reverse the prevailing trend. Additionally, RSI indicator shows neutral signal, and

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