Saxo Bank (Saxo Bank)
Currencies  |  May 31, 2011 15:04:15

After Monday, the risk of boring the course again


After yesterday's incredibly boring day on which the most important markets were closed on the top again got Asia.This morning it appears that the risk is back on the course, thanks to the seemingly relatively harmless article in the Wall Street Journal, which states that Germany is ready to retreat from its demand for a restructuring of the Greek debt to help the adoption of a new rescue package for the debt-ridden southern state. That is when he noticed the online exchange of this article, EURUSD traded above 1.4250 pivot level, enough to break the stop-loss hunting in a fit of fever, and the pair jumped overnight to a maximum of approximately 1.4405. At historically record levels and NZDUSD traded, the most positive values ??that support consumer and business confidence for more than a year, though he confused Finance Minister in his speech again contradicted.

Contributed to the overall excitement and Moody's, which warned that it would consider a downgrade of Japan.

As for today, we all know that the ending month and some of today's movements are a reflection - that probably means another sale USD. In addition, today we expect the Bank of China statement on interest rates and in the morning preliminary estimate of consumer price index in the euro area.

Regarding FOREX, let's first look at the EURUSD. Given the current price behavior and growth stocks and commoditiesit is difficult to imagine that this pair would not test it (and in all likelihood neprolomil) resistance located at 1.4430. After a brief hunt for traces above this level, I expect that this currency pair will now be in the range 1.4300 / 1.4400.

GBPUSD benefit again from the general sales USD and the next natural ceiling limit should be 1.6580.If this sentiment will last for most of the day, can not be excluded that this pair will reach significant offerings in the area around 1.6650.

AUDUSD on the background of all the above, strengthen, activate stop orders above 1.0730 and after subsequent depletion are traded 1.0750. During the day it is possible to sell this pair at the exhaustion of ups and stop-loss should be placed just above the nocturnal maximum.

JPY and JPY currency pairs with the short renewed risk sentiment and expression Moody's obviously a bit hit, most of the time remain in the defined zones.EURJPY is currently somewhat out of alignment because it is overbought at these fluctuations, and according to several of my contacts is a good pair this with a stop sell orders over 118.30 in anticipation of returning to the area around 115.50.

Swiss macrodata was worse this morning, whether it's a total figure or devilish details, but the only couple that's something vyzískal was EURCHF, which fired up, but still continue trading at low levels.

Ken Veksler, Senior Manager, Advisory, Trading, Saxo Bank

 Globální online investiční banka

Saxo Bank je globální investiční banka specializující se na online obchodování a investice na mezinárodních finančních trzích. Saxo Bank umožňuje soukromým investorům a institucionálním klientům obchodovat s FX, CFD, cennými papíry, futures, opcemi a dalšími deriváty a poskytuje i profesionální správu portfolia a fondů díky svým online obchodním platformám oceněným řadou různých ocenění.

Více informací na: www.saxobank.cz

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