FOREX
Italy has approved the budget and the new government that formed in Greece has quieted the markets a bit. The Euro (1.3770) is higher, but has important resistance at 1.3850-70 and 1.3925 which might dampen the current up move. USDJPY (77.15) is trading just above its important support at 77.00-76.80 and while this support holds, a move towards 78.00 might be seen.
USDCHF (0.9009) has strong support in the 0.8950-00 region and might rise to 0.9200-50. Cable (1.6070) is ranged between 1.5870 and 1.6150. Aussie (1.0303) has strong resistance at 1.0400-30 which might be tested once again this week while above 1.0200.
USDCHF (0.9009) has strong support in the 0.8950-00 region and might rise to 0.9200-50. Cable (1.6070) is ranged between 1.5870 and 1.6150. Aussie (1.0303) has strong resistance at 1.0400-30 which might be tested once again this week while above 1.0200.
MARKETS
The development in Greece and Italy new government formation has eased the downside pressure in the markets for a while and the equity markets are in the green all over. But whether the markets can sustain on the upside? We expect the current rise in the market to be short lived. We will have to wait and see.
The US markets closed higher on Friday. The Dow (12153.68) was up 2.19% and the NASDAQ (2678.75) was up 2.04%. The DJIA is might test 12500-600 on the upside. Intermediate resistance is at 12300.
The Asian markets are trading positive. Australia (4393.70) is up 0.81%, Shanghai (2515.90) is up 1.40%, Hong Kong (19617.61) is up 2.51%, Taiwan (7527.92) is up 2.17% and Nikkei (8617.27) is up 1.21%.
The US markets closed higher on Friday. The Dow (12153.68) was up 2.19% and the NASDAQ (2678.75) was up 2.04%. The DJIA is might test 12500-600 on the upside. Intermediate resistance is at 12300.
The Asian markets are trading positive. Australia (4393.70) is up 0.81%, Shanghai (2515.90) is up 1.40%, Hong Kong (19617.61) is up 2.51%, Taiwan (7527.92) is up 2.17% and Nikkei (8617.27) is up 1.21%.
COMMODITIES
Crude (99.03) has risen further might test 100. Can crude rise past 100 strongly or not?
Gold (1794.30) recovered and is trading just below 1800. A strong break above 1800 might test the previous high of 1920. Support is at 1930.
Gold (1794.30) recovered and is trading just below 1800. A strong break above 1800 might test the previous high of 1920. Support is at 1930.