FOREX TRADING

Long USD positions at record high: The latest IMM data shows that investors added strongly to short EUR/USD positions last week. Bearish bets against the euro rose to 173,869 contracts from 143,984 a week earlier. Investors continue to buy USD against all G10 currencies with the exception of JPY and

On Friday Dollar/Yen continued decreasing with 65 pips. The currency couple depreciated from 79.46 to 79.12 on Friday, matching the negative money flow sentiment at bellow -28%, closing the week at 78.98. This morning the Dollar is trading quietly against the Yen, with movements at the upper end of Friday’s range for now.

The downtrend from 1.3282 is already over and the pair is in a ranging mode above 1.2640. After today’s precise test of 1.2815 I expect a few ranging swings above 1.2740 support, before next leg upwards, to 1.2910 resistance zone.

On Friday Pound/Dollar bounced up, increasing with 100 pips. The Cable appreciated from 1.5731 to 1.5834 on Friday, in converse with the negative money flow sentiment at almost -9%, closing the week at 1.5816. Today the British Pound strengthened further, ascending up to 1.5840, than began dropping.

The currency couple is presently undergoing a bullish correction following its precipitous fall from a downtrend resistance at 1.3252. EUR/USD may attempt to test 1.2903/17, but is unlikely to extend gains above this level, which, in turn, will lead to continuation of a bearish move towards 1.2509, en route to

Extends the near-term recovery above initial barriers at 1.2750 zone, after temporary footstep was found at 1.2640, last Friday. Bounce from here briefly broke above 1.2800 barrier, also Fib 23.6%, where descending trendline, connecting 1.3282/1.3177 tops, limited gains at 1.2811, with corrective easing on overbought hourly studies under way. Dips

Dollar-Swiss has risen well breaking above 0.9300 last week as we had expected. However, it failed to extend its upmove above 0.9500 and came off towards the end of the week. The overall picture is still bullish, but we are not sure as what would be the extend of the

Good morning from beautiful Hamburg and welcome to our first Daily FX Report this week. After the latest news, the signs for a Greek exit out of European Union increased and raised the downward pressure on the EUR, especially, as experts feared an irretrievable shortfall below its long-term average.

The EURO closed higher due to short covering on Friday as it consolidates some of this month’s decline. The highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If

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 (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