General Commentary
Spain now the Big Concern, Dangerous Times
Last week’s currency trading review
The EUR/USD tested 1.2500 last week as the market concerns about Greece and Spain encouraged attempts lower. Strong support was seen at the big figure and we are now watching for signs of contagion from Greece into other peripheral EU countries. This week is cut short by bank holidays but we do have US Nonfarm Payrolls which as always will dominate trading into Friday.
EUR/USD was down -2.09% currently at 1.2513, after opening the week at 1.2774.
USD/JPY was up +0.84% currently at 79.66, after opening at 78.99.
GBP/USD was down -0.98% currently at 1.5662 after opening at 1.5815.
AUD/USD was down -0.87% currently at 0.9754 after opening at 0.9839.
This Week’s Trading Preview
Trend of the Week:-
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EUR/CHF |
28/05/2012 04:49 |
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1 week Trend: (=) |
1 month Trend: (=) |
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EUR/CHF intraday: rebound expected. |
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Pivot: 1.2 Our preference: Long positions above 1.2 with targets @ 1.203 & 1.205 in extension. Alternative scenario: Below 1.2 look for further downside with 1.199 & 1.198 as targets. Comment: the RSI lacks downward momentum. Key levels |
