EUR/USD rebounds from 1.2826/1.2791

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It would take a break above Friday's high at $1.2960 to break the euro's downtrend, while a fall below $1.28 would provide confirmation for traders bearish on the euro"
- FxPro (based on MarketWatch)

Pair's Outlook

A two-week decline was ensued by a strong rally from 1.2826/1.2791, which is able to extend further, up to 1.34. Once 1.3151/71 is overcome, the way will be cleared towards a major downtrend resistance line, from where EUR/USD is expected to slide down for a protracted period of time. This view is also reinforced by monthly technical indicators and medians of bank forecasts for the next three quarters.

Traders' Sentiment
Even though popularity of the greenback has somewhat diminished, as on average 62% (65% on October 1) of positions on it are long, traders' sentiment is unchanged towards EUR/USD, being that 43% of traders are long and 57% are short on the currency pair.

© Dukascopy Bank SA
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Actual Topics

Tue, 02 Oct 2012 07:04:40 GMT

GBP/USD headed towards 1.6233

GBP/USD appears to be willing to challenge 1.6233 once again, given that an uptrend support at 1.6100/1.6085 withstood downward push and short-term indicators point to the upside. However, the rally should be capped at 1.6300/44, even if the price does close above 1.6233, since in the long run the currency couple is deemed to be bearish.

Mon, 01 Oct 2012 16:27:26 GMT

NZD/USD rebounds from weekly PP at 0.8270

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