Monday, June 28, 2010
Vimala Raman Hot Bath with Tarun in Chukkalanti
Forex: EUR/JPY still limited below 110.80
The recovery from last week lows around 109.50 has been capped at 110.80. EUR/JPY has been limited below this resistance level since last Thursday and has attempted to break above several times without succeeding.
During the present Asian session, the Euro-Yen cross has been gravitating around 110.60 with lack of definition, unable to break above 110.80 and supported by 110.45. EUR/JPY is currently trading at 110.64, 0.13% above its opening price.
"Firmed back in range to approach the 111.00 level, clearance here needed to trigger stronger rally to extend recovery from the 109.53/59 lows. Higher see more resistance at 111.37 and 111.63 then the 111.85/00 area. Support starts at 110.00/20 area and 109.80 ahead of 109.53/59 lows", said recently the 4CAST team.
Forex: EUR/USD jumps and approaches 1.2400
The Dollar is falling sharply across the board reaching fresh daily lows. EUR/USD broke above 1.2360 and jumped to 1.2393, extending its gains. The pair has risen a hundred pips in the last three hours as stocks in Wall Street accelerat the upside.
The Euro is also rising considerably against the Yen and turned positive for the day after breaking above 110.50.
EUR/CHF continues to move away from record lows and is back above 1.3500, approaching to 1.3550.