EUR/USD tests the monthly R1 and weekly R2 at 1.3115

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Things seem to be improving quite rapidly in Europe. Spain is now injecting funds to its banks, which were at the heart of the problems. Greece looks on its way to secure funding. The crisis appears to be heading for an end for now" - Shinsei Bank (based on Reuters)

Pair's Outlook
EUR/USD pair continues to appreciate and today reached the key resistance level at 1.3115/21, where the monthly R1 and weekly R2 intersect with the upper Bollinger band. The price increases for a sixth consecutive trading session and reached a seven-week high. Together with it the RSI has value of 73, indicating that the currency couple is overbought.

Traders' Sentiment
SWFX market participants are in the bearish mood, as 58% of traders have short positions and 42% have long positions. Pending orders segment still maintains bullish sentiments, as 60% of placed orders are buy and 40% are sell.

© Dukascopy Bank SA
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Wed, 05 Dec 2012 08:49:48 GMT

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