Today's market view

EURUSD has as before an upward trend. The expectation that US-conjunction data published in this week can fall below consensus and the increase of interest rate of EU Centralbank on Thursday may make the currency course climb up more strongly. In the Asian session EURUSD traded in a narrow range. After breaking thorugh the level $ 1.5800 and trades now at the level of $ 1.5830, demonstrating an ascending movement. Dealers speak about general weakening of US currency, which was caused by new attempts of rising price on oil quoted now $142.32 for barell. From the point of veiw of traders dollar selling is observed at the level from $1.5815 to $1.5850. While the European common currency remains relatively below, the historical high of $1.6020 remains in security.

From the point of technical analysis view daily stochastic exists on the overbough area, which signals risks of correction in short-term perspective. It is confirmed by momentum, approaching to 100-point level on short-term charts. Inspite of these risk factores the daily indicators point out ascending movement in the long run. A barrier of further upward movement may be massive resistance at the level of $1.5845. A support line is at $1.5750.

RES 4: $1.6020 maximum of 22.April
RES 3: $1.5871 upper band of Bollinger bands
RES 2: $1.5950 2% envelope
RES 1: $1.5840 maximum of 9 June

Current quotation: $1.5800

SUP 1: $1.5750 5-day moving average
SUP 2: $1.5620 10-day moving average
SUP 3: $1.5570 21-day moving average
SUP 4: $1.5467/90 minimum of 18, 19, 23 June, 1% envelope





30-Jun-08

Time Location [b]Indicator[/b] Period Unit Forecast Previous Actual

[b]Time is CET and that of the trade terminal[/b]

03:15 Japan [b]PMI Manufacturing[/b] June 47.7 46

09:00 Japan [b]Construction Orders[/b] May % -8.4 -25.2

09:00 Japan [b]House Starts[/b] May % -3.8 -8.7 -6.5

12:30 United Kingdom [b]Consumer credit[/b] May Bln 1 1.122R 1.376

12:30 United Kingdom [b]Mortgage Approvals[/b] May k 51 58 42

12:30 United Kingdom [b]Mortgage Lending Data[/b] May Bln 6 6.151R 4.073

13:00 Euro Zone [b]Inflation Report[/b] June % 3.9 3.7 4

16:30 Canada [b]GDP m/m[/b] April % 0.3 -0.2

17:00 United States [b]NAPM-NY[/b] April -- -- 419.8

17:45 United States [b]Chicago PMI[/b] April -- 48 49.1