Wednesday June 6, 2012 - 10:51:55 GMT
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Jay Meisler's Daily Forex Weathermap - EURUSD
10:45 GMT (Global-View.com) June 6 -
Jay Meisler's Daily Forex Weathermap - EURUSD (current rate 1.2502)
EURUSD has extended its trade today around 1.25 for the third day in a row, a level that is now the focus and will dictate the tone going forwards. This sets the stage for the ECB meeting where no change in rates is expected, leaving the focus on the Draghi press conference and any hints of an easier policy and/or liquidity measures going forwards. Surprise would be a rate cut and/or fresh liquidity announced at this meeting.
Otherwise, it has so far been an inside but a risk on day that has seen the EURUSD firm with a lag except vs. the weaker USD and JPY. Key levels on top are 1.2542 (Monday’s high) and 1.2624 (last Monday’s high). 1.2470 has flipped between support and resistance, currently the former.
See full report + levels on the GVI Forex Forum
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