Strateji Raporları

Welcome to EUR Bloodbath

Political uncertainty bit into the EUR/USD today as Greek left party leader announced they were no longer committed to agreements signed with the IMF and the EU. The leader said that the Greek people had spoken in the elections, punishing the pro-bailout schemes, so now they did not want these pacts. Add these words to pain in Spain (Spanish banks need bailout too) and to French leadership change and you get the EUR/USD crushing below 1.30 level.

Majors

EUR/USD
Not only the 1.30 level was crushed, but also Monday's low at 1.2955. Now the pair is going south, breaking support levels not seen since January. Next support is seen at 1.2865.
USD/JPY
Pair broke through previous 79.65 low as risk appetite aversion lead to hefty gains in the JPY. Support should be strong on the 200 days moving average of the pair near 78.40.
USD/CHF
Support lies near 0.9256, while resistance is at 0.9301. Note that the EUR/USD is again flirting with the 1.20 level.
AUD/USD
Pair has been unable to find support since the break of the important support at the 1.0225-50 area. Today the pair slid to a fresh 5-1/2 months' low at 1.0021. "The trend is now obviously to the downside and the employment data on Thursday may confirm the downtrend", said a trader for an Asian brokerage in Europe the day before yesterday. We only see again he was right. The concerns that Greece will exit the EU caused the pair to slump.

 

Crosses

EUR/JPY
Daily low at 102.76. Daily high 103.93. Down 1.41%.
GBP/JPY
Daily low 127.84. Daily high 129.09. Down 1.04%.
EUR/CHF
Daily low 1.2009. Daily high at 1.2011. Down 0.05%.

 

Commodities

GOLD
Gold extended its plummet, succumbing to the strong pressure of the dollar. The metal reached levels not seen since the beginning of January this year. The crush comes in spite of political uncertainty in Europe. The metal sliced through the support level of $1593. Next support is seen at $1564.
SILVER
Daily high 30.08. Low at 29.25. Down 2.49%.

 

Economic Data
Look for Australian employment data at night

For more information check our Eco Calendar.

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