Long Term FX charts June 6th

FX Strategy Video > Currency Pairs Analysis

The EUR/USD burst through the 1.45 area, and shows signs of strength as the US jobs number came out so horribly. Also, the Greeks are looking likely to accept more austerity in order to get another round of bailouts form the IMF and EU. The EUR/JPY looks rather constructive as the 115 held as support, and the 117 level has now been breached as well. This is very bullish. The USD/JPY is a complete contrast from the EUR/JPY. This pair has fallen to the 80 level, and as such is testing serious support combined with an area that now included central bank positions. Because of this, there could be a bounce - but buying blindly can get you into trouble here.

Published on 3rd of June 2011
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