Strateji Raporları

EUR Rises as Deal Expected

 The single currency has risen through recent days. It was able to break the 1.30 level and push forward till 1.3180 and a bit beyond yesterday. This optimism is hinging on news saying Greece and their creditors are close to cut a deal on new credit to the indebted country. Credit that will be cheaper and maybe the Greeks will even be able to pay.

Majors

EUR/USD
In mid January it was believed Europe was on a verge of financial collapse, sending the pair to lows not seen since 2010. Now, only 2 weeks after that, everything looks so bright that the single currency is rallying fast. What has changed? Mostly the sentiment… But also the massive liquidity injections by the European Central Bank.
USD/JPY
Recent advance was totally erased. Pair was stopped just a couple of pips from 200 day moving average at 78.35 and brought back to reality with a swift plummet. Traders cite hedge funds buying yens out of speculation its uptrend will continue. "End of month selling by exporters also contributed to the fall", added a senior trader for an Asian bank in London this morning.
Support seen near 76.85.
AUD/USD
Pair hit a new almost 3 months' high above 1.0680 this week on global appetite for risk. Being one of the 14 nations still having an AAA credit rating from S&P agency and a high interest rate also contributed to the uptrend.
Support is seen at 1.0595, then 1.0565 and 1.0475. Strong support seen at 1.0430-40 area. Resistance seen at 1.0700.
USD/CHF
0.9085 is seen as support after important short term support at 0.9304 was broken. Resistance seen at 0.9290.

 

Crosses

EUR/JPY
Daily low at 100.73. Daily high 101.53. Down 0.22%.
GBP/JPY
Daily low 119.51. Daily high 119.86. Down 0.03%.
EUR/CHF
Daily low 1.2060. Daily high at 1.2084. Up 0.13%.

 

Commodities

GOLD
A rising range extended from 04.01 was broken upwards in a swift leap above $1700 level. The move was ignited by the Federal Reserve that said they would keep rates low longer than expected, eroding the values of the dollar.
SILVER
Daily high 33.75. Low at 33.30. Up 0.46%.

 

Economic Data

13:30 GMT US GDP
14:55 GMT US U. of Michigan consumer confidence

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