Forex: EUR/USD around 1.3085/90, focus on Italy

FXstreet.com (Barcelona) - The bloc currency is now meandering around 1.3085/90, breaking above the prevailing congestive pattern around 1.3060 on Friday. In the meantime, the third Italian elections have yielded no winners so far, although the 5-Star candidate Stefano Rodotá ended up first and Romano Prodi third.

In the data front, German producer prices rose below estimates while the EMU’s current account posted a €12.1 billion surplus during February.

At the moment, the cross is up 0.26% at 1.3084 with the next resistance at 1.3096 (high Apr.18) ahead of 1.3202 (high Apr.16) en route to 1.3229 (50% of Feb.-Apr. slide).
On the flip side, a break below 1.3001 (low Apr.17) would bring 1.2967 (MA21d) and then 1.2963 (low Apr.8).

Apr 19, 2013

Forex: EUR/JPY extends gains to 130.00

The yen weakened on Friday, with the euro extending gains to 130.00, after Japan's Finance Minister Aso said on Thursday the G20 has understand that Japan's monetary easing is aimed at beating deflation and not at weakening the yen.

Forex Flash: GBP/USD loss of 1.5166 will confirm resumption of down move – Commerzbank

Despite the inside day charted yesterday, Commerzbank analysts keep their outlook unchanged. “We continue to view 1.5412/20, the recent high and the 38.2% retracement as an interim high”, wrote analyst Karen Jones. “Loss of the 1.5166 uptrend will add weight to the idea that the market has resumed its down move. Below here will trigger losses to the 1.5028 (the 20th March low)”, she continued, expecting the 61.8% retracement at 1.5052 to hold the initial test. “A break below here is needed to trigger another leg lower to the 1.4832 March low. Longer term we target 1.4229, the 2010 low”, she concluded.