FOREX TRADING

Asian equity markets, commodities, and risk-on FX opened the new week on a stronger note, boosted by G8 sentiment bent on keeping the eurozone together as well as some veiled signals of further accommodation out of China. In its statement, the G8 indicated it was “maintaining a firm commitment to

The dollar and the yen were lower across the board as Chinese Premier Wen spurred hopes of more growth stimulating measures from Beijing. At the same time, equity markets were lifted by the risk-on sentiment, but gains were limited by lingering fears about a possible Greek exit from the euro.

For the 24 hours to 23:00 GMT on Friday, EUR rose 0.68% against the USD and closed at 1.2782, after an opinion poll in Greece on Friday, indicated that pro-bailout party, New Democracy was leading the polls ahead of fresh elections, due to be held on June 17.

Earlier, GBP had come under pressure, after Bank of England policymaker, Adam Posen, stated that he may have been premature in dropping his call for additional stimulus last month, as recent data suggest that the UK economy may be weakening.

In Japan, Nationwide department store sales rose 1.3% (YoY) to ¥480 billion in April, compared to a 14.1% rise in March. In the Asian session, at GMT0300, the pair is trading at 79.14, with the USD trading 0.15% higher from Friday’s close.

In the Asian session, at GMT0300, the pair is trading at 0.9388, with the USD trading 0.09% lower from Friday’s close. The pair is expected to find support at 0.9342, and a fall through could take it to the next support level of 0.9296. The pair is expected to find

In Canada, consumer prices rose 2.0% (YoY) in April, compared to a rise of 1.9% in March. In the Asian session, at GMT0300, the pair is trading at 1.0196, with the USD trading 0.09% lower from Friday’s close.

On Friday, the Australian Prime Minister, Julia Gillard, affirmed that the nation has come out of the global financial crisis strongly, and continues to grow with low unemployment and low inflation. LME Copper prices rose 1.1% or $87.8/MT to $7795.3/ MT. Aluminium prices rose 1.5% or $29.5/MT to $2016.3/ MT.

The EUR/USD found some support from the 1.2625-1.2660 area. The 1H chart shows a market rallying above a declining channel that represented a slowdown of the fall as it was formed with an extended bullish divergence. We broke above this on Friday 5/18 to end a trading week, and start

The EURUSD attempted to push lower on Friday, bottomed at 1.2641 but whipsawed to the upside, closed at 1.2779 and hit 1.2812 earlier today. The bias is bullish in nearest term testing 1.2830 – 1.2875 but as long as stays below 1.3000 any upside pullback now is normal and the

On Friday Euro/Dollar traded traded first downwards, than commenced climbing with almost 160 pips. The European currency appreciated from 1.2641 to 1.2799 on Friday, not matching the negative money flow sentiment at bellow -11%, closing the week at 1.2964. This morning the Euro lifted further, reaching 1.2814.

EURUSD: The EUR/USD is currently trading at 1.2793 levels. The euro declined against the US dollar for the third week, amid ongoing concerns over Greece. Investors are now awaiting the June 17 elections in Greece. Downgrading of the Greece’s credit rating and 16 Spanish banks added to the pressure on

EUR/USD Today’s support: 1.2720, 1.2677, 1.2643 and 1.2600(main), where correction is possible. Break would give 1.2582, where correction also may be. Then follows 1.2540. Break of the latter would result in 1.2524. If a strong impulse, we would see 1.2508. Continuation will give 1.2479.

The Euro (EUR) shrugged off incessant downward pressure in late trade on Friday as leaders of the G8 re-iterated their commitment to maintaining Greece’s membership in the Euro Bloc. “We re-affirm our interest in Greece remaining in the euro zone while respecting its commitments”. Pro-growth statements ensured the single currency

The Euro (1.2796) is bouncing back from near its important Support at 1.2630 and can test its Resistance in 1.2835-50 region. A strong break above this Resistance region will ease the downside pressure a bit. Dollar-Yen (79.14) is trading just above its important Support in 79.10-00 region. A break below