EUR/USD to consolidate ahead of 1.2300

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The euro is in an extremely vulnerable position and downside risks are very strong indeed. The Spanish banking crisis has the potential to knock the stuffing out of the euro zone irrespective of the Greek election results"
- Rabobank (based on CNBC)

Pair's Outlook
Despite a tough support situated at 1.2433, the currency pair continued to trade lower. At the moment EUR/USD is approaching a subsequent level at 1.2300, encounter with which will result in a short squeeze up to 1.2433. Nonetheless, as suggested by most of the indicators, the overall outlook for the price is negative, as it is currently moving in the direction of 1.1662.

Traders' Sentiment
Judging by the changes in SWFX sentiment index towards EUR/USD, most of market participants reckon the Euro has hit a bottom and is soon about to commence recovery. 61% of traders are bullish and 39% of them are bearish on the pair. On the other hand, 56% of orders placed on EUR/USD are to buy the Euro and 44% of them are to sell it against the U.S. Dollar.

© Dukascopy Bank SA
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Actual Topics

Thu, 31 May 2012 06:52:44 GMT

GBP/USD to slide down to 1.5259

GBP/USD has effortlessly pierced through a number of supports, implying further bearish behaviour in a coming week. Only levels at 1.5427 and 1.5371 separate the currency couple from reaching its long-term target at 1.5259, where we are likely to see the price rebounding. An initial resistance may be found at 1.5509, followed by 1.5545 and 1.5589/1.5616.

Wed, 30 May 2012 15:57:03 GMT

EUR/JPY maintains negative mood

The common European currency continued moving south today as worries over Spain intensified today. With the fundamental factors remaining unchanged, the bearish momentum has a chance to intensify and in this case, initial support level at 98.43 (Initial support line) is likely to be in focus by the bears.

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