EUR/USD falls sharply

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Images of protests in Greece during Angela Merkel's visit reminded markets that severe austerity measures imposed in Europe come at a large social cost, casting a dark shadow of doubt on a quick resolution in Europe"
- Credit Agricole (based on CNBC)

Pair's Outlook

After breaching 1.2963/39 the currency pair dived to 1.2856/26 yesterday, which holds for now, but is nevertheless being eroded. The support is reinforced by a subsequent level at 1.2799/84, meaning that together they are likely to withstand bearish pressure. However, if this key area is breached, the medium-term outlook will be changed to a negative one.

Traders' Sentiment
Bearish sentiment of SWFX marketplace participants has become even less distinct, as the difference between the shares of short and long positions has narrowed to 8% from 14% yesterday. Distribution among buy and sell orders also does not give a clear insight into current preferences of the market, being 53% to 48%, respectively.

© Dukascopy Bank SA
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Actual Topics

Wed, 10 Oct 2012 06:51:02 GMT

GBP/USD struggles at 1.6000/1.5967

GBP/USD declined along with EUR/USD, although to a more modest extent. The currency couple is presently attempting to overcome 1.6000/1.5967 and is expected to remain on a bearish path, even though a chance of a consolidation/correction increases. The next target lies at 1.5911, while the nearest serious threat to current downward tendency is located at 1.5828/04 (200-day SMA).

Tue, 09 Oct 2012 18:12:02 GMT

XAU/USD gradually approaching 20-day SMA

The bearish movement, which started three days ago, managed to continue, and today the XAU/USD exchange rate experienced another consequent bearish reaction. At the particular moment the price is gradually approaching the 20-day SMA at 1771, which might bring some bullish impulse. If it is breached, then next resistance at 1762 (weekly S1) will probably stop the current movement downwards.

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