EUR/USD is consolidating

Note: This section contains information in English only.
Source: Dukascopy Bank
© Dukascopy Bank
"The euro will likely remain wobbly for a while until the issue over Greece is sorted out"
- Mizuho Corporate Bank (based on WSJ)

Pair's Outlook
Following violation of support at 1.2830/12 and 1.2763, EUR/USD is now showing some signs of stabilisation. Therefore the currency pair is likely to consolidate ahead of 1.2645/42, which should be able to halt near term dips. However, in the longer term EUR/USD remains bearish, being that it is currently capped by a formidable resistance area located at 1.3014/28.

Traders' Sentiment
Based on SWFX sentiment index, the share of bullish positions on EUR/USD has increased up to 65%, implying growing confidence of investors in the appreciating Euro against the Greenback. However, within 100 pips from the current price 52% of orders are to buy and 48% are to sell the single currency, being a significantly less straightforward situation.

© Dukascopy Bank
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Actual Topics

Thu, 17 May 2012 07:22:48 GMT

GBP/USD challenges 1.5922/1.5869

At the moment GBP/USD struggles with a support situated at 1.5922/1.5869, which is about to be eroded, given strong downward impetus of the pair after encountering a tough resistance. In order to confirm further bearish intentions, the Cable, however, will have to push through 1.5781 (200 day SMA), thus opening the way towards attainment of 1.5262.

Wed, 16 May 2012 07:36:25 GMT

USD/CHF to aim for 0.9510

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