currency. JPY – The yen minimum of three weeks ago against the euro The yen minimum values three weeks ago against the euro, especially in resort by rumors that the global recession would be receding. In addition it is estimated that the American report in respect of banks in that country hurt the yen. Several investors are moving away from shelter and coins yen to invest in assets of higher risk. Against the dollar, the yen has declined slightly during the last week.
Yesterday the USD / JPY ended the day in the area of 98.80 compared to 99.45 previously. The meeting in Japan schedule will be dominated by the volatility, given the holiday that runs until Thursday. During these times the moves may be exacerbated. It would be advisable to monitor events related to the audit that the bank Obama administration will announce on Thursday, and above all, the Non-American Payrolls on Friday. OIL – Oil rising crude yesterday was on the rise, while profits in the stock market were therefore increased optimism and a rise in this commodity.
A global recovery would lead to increased demand for oil, which will undoubtedly benefit the oil. On the other hand, the S & P 500 finished in positive territory and ended the dollar’s fall to benefit the oil. Yesterday, oil closed at $ 54.00, compared to $ 53.20 earlier. The global consensus that the economic situation will begin to improve long-term benefit to oil. However, today we could see oil drop below $ 54, since some investors may take profits yesterday. Tomorrow will be issued on Crude Oil Inventories and oil could return to pick up on that level. In those days may break the resistance zone at $ 55. Technical News EUR / USD trend lost upward momentum and the pair seems to consolidate in 1.3390. In the 4 hour chart, the slow stochastic shows a possible downward correction. When the break happens bassist, go short with stops will be preferable. GBP / USD RSI shows purchases in excess of the daily chart, so that a downward correction was imminent. In the 4 hour chart, the Momentum supports this notion. When the break happens bassist, go short with stops will be preferable. USD / JPY The 4 hour chart shows a bullish formation and slow stochastic shows an upward trend was imminent. In the hourly chart, the Momentum supports this notion. When the break happens bullish, go long with stops will be preferable. USD / CHF The hourly chart shows mixed signals, and the RSI is in neutral territory. However in the 4 hour chart shows a bullish formation, and the slow stochastic shows that an upward correction was imminent. When the break happens bullish, go long with stops will be preferable. The letter of the day Gold Gold rose strongly during the last week, and recorded highs in the $ 903.75 per ounce. However, the 4 hour chart shows the IHR in excess of purchases, which means that the uptrend is losing momentum, and a correction was imminent. This could be exploited by investors and thus enter the trend.