EUR/USD to erode 1.2463

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Ahead of the Greek election, market will likely continue to be range-bound, with support from the hope of more stimulus, while any gain is limited by the disappointment on the reality"
- Credit Agricole (based on MarketWatch)

Pair's Outlook
EUR/USD has stopped falling ahead of 1.2463 and is currently trying to commence a bullish correction, given the signals provided by daily technical indicators. However, in the medium to long run, the currency pair is viewed as bearish, trading within a downtrend channel. Therefore the Euro is supposed to continue depreciating relative to the U.S. Dollar while negating short-term rallies.

Traders' Sentiment
The gap between market participants who are holding long and short positions on EUR/USD has narrowed to 4%, as the share of bulls in the market is 52%, while bears constitute 48% of all the open trades. At the same time the single European currency preserves its status as the most popular among traders, as it is being acquired in 72% of cases.

© Dukascopy Bank SA
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Actual Topics

Wed, 13 Jun 2012 09:36:43 GMT

GBP/USD has pushed through 1.5535/45

GBP/USD has managed to pierce through 1.5535/45 and should soon gain even more bullish momentum despite a considerable amount of formidable resistances that lie overhead. The initial level is situated at 1.5649/67, followed by an area at 1.5764/75, being a confluence of 200 day SMA, upper Bollinger band and weekly R2, which is unlikely to give in at the very

Tue, 12 Jun 2012 08:01:47 GMT

USD/CHF to erode 0.9637

As expected, USD/CHF did not manage to penetrate a tough support area at 0.9512/0.9497, which has send the pair towards 0.9637, where the price is likely to make a short-term bearish correction prior to further growth. After 0.9637 is passed, USD/CHF will encounter resistances at 0.9744/76 and 0.9857. On the other hand, an initial support may be found at 0.9590.

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