Forex: EUR/USD toying with 1.3100

FXstreet.com (Barcelona) - The shared currency briefly pierced the key support at 1.3100 on Monday, after mixed signals from the Spanish economy. In fact, the services sector of the Mediterranean country extended its negative momentum in April, falling to 44.4 from 45.3 in the previous month, while the Unemployment Change surprisingly fell by 46.1K vs. a forecasted increase of 17.1K.

Next on tap in the euro area will be a batch of Services PMI prints for euro zone members, followed by the Sentix index and EMU Retail Sales.

As of writing the pair is losing 0.17% at 1.3100 with the next support at 1.3033 (low May 3) ahead of 1.3015 (low Apr.29) and finally 1.3000 (low Apr.29).
On the flip side, a breakout of 1.3160 (high May 3) would bring 1.3220 (high May 2) and then 1.3243 (high May 1).

May 6, 2013

Forex: EUR/JPY rising and eyeing Friday’s high at 130.34

While the EUR is generally falling as the European session opens and Markit services PMI gets published, the EUR/JPY is on the opposite direction backed by more Yen weakness. The cross had rallied from 128.00 to 130.34 high on Friday, and despite closing the week below the 130.00 mark, the market is very near 130.34 already, as this momentum printed a high at 130.28.

Forex: USD/JPY extends Friday’s gains to 99.45 high

The Yen is having a moment of weakness during the European opening which is taking its toll against the USD and EUR as both USD/JPY and EUR/JPY rise today. The USD/JPY had found good support at 97 ground last week and started rebounding on Thursday ahead of the US nonfarm payrolls report. A better than expected figure, including a revision higher of March data, allowed a rally to 99.27 high. The pair is now extending these gains as the market is past 99.27 and reached 99.45 high, so far.