Wednesday 12 December 2012

RTRS-EU FINANCE MINISTERS AGREE TO ALLOW EUROPEAN CENTRAL BANK TO SUPERVISE BANKS IN EURO ZONE - EU OFFICIAL

EUR continues to push higher. Finally the eurozone come to an agreement on something significant.

Still see a lot of EURJPY buying in the market. I believe the trade make sense as JPY will continue to weaken on continuation of easing by BOJ.

EURUSD I will be a bit cautious to go long here as I believe there will be some resistance just around 1.3120 level. The high of last week. The risk and reward of going long EURUSD here is just not there. Better to take a punt by going short just below 1.3120 with a stop around 1.3130.

Good luck!
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2 comments:

  1. james12 December 2012 at 19:46

    Do you think usdjpy will reach 84?

    ReplyDelete
  2. Effexlive12 December 2012 at 19:48

    Possbily we can hit that level very soon. My friends in that market continues to see strong demand in USDJPY. The bids are all still around 82.80/83.10.

    ReplyDelete

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