USD/CHF's dip to be contained by 0.9558/38

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Gold will not act as a safe haven in the current environment. Investors should stay on the sidelines and remain in cash"
- The Gartman Letter (based on CNBC)

Pair's Outlook
The price of the U.S. Dollar, denominated in Swiss Francs, has dropped precipitously yesterday, straight down to 0.9539, where the currency pair is presently consolidating. For now USD/CHF is likely to trade sideways, being supported by 0.9558/38, which in turn is reinforced by 0.9510/0.9497. Accordingly, we should anticipate a bounce off the support area, which should reinstate a target at 0.9662.

Traders' Sentiment
Nearly two thirds (65%) of market participants keep on holding long positions on USD/CHF, anticipating resumption of currency pair's bullish advancement, while 35% of traders believe in an alternative scenario. On the contrary, majority of orders (59%) on the pair are to buy the Swissie and the rest 41% are to short-sell the Franc.

© Dukascopy Bank SA
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Fri, 08 Jun 2012 07:08:03 GMT

EUR/USD to penetrate 1.2436

Bullish correction did not drag EUR/USD far above 1.2555/85 and now appears to be fully terminated. The currency pair is currently heading towards an interim support located at 1.2436, which in case of a breach will pave the way to 1.2301/1.2249. The latter area, however, is unlikely to give in easily, but should capitulate eventually, given the overall negative outlook.

Thu, 07 Jun 2012 07:14:28 GMT

GBP/USD to challenge 1.5610/67

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