EUR

NEW YORK (Dow Jones)--Despite that massive euro zone care package, the euro is zoned out in terms of yen.

Last week the euro traced out a range between Y125.49 and Y110.67, the week's low being the current low for the euro's downtrend from the July 2008 high of Y170.02. As the last bar on the weekly chart shows the euro, trading now at Y119.80, is still trading within last week's range and so its upside momentum is slight. See chart at
http://www.dowjoneswebservices.com/chart/view/3944

The euro wouldn't have broken out of its current downtrend against the yen this week unless it took out downtrend channel resistance at Y125.16. On the other hand, that channel resistance is falling, to the advantage of the euro bulls, of course. Resistance next week will fall to Y124.52.

But if the euro turns down and takes out Y116.94 support, then traders would have the technical signal for a move down to Y113.75. In that case take profit in the Y115.02-Y114.38 support band.

Decisive trading below Y113.75 would probably imply that the euro's current downtrend against the yen was about to be extended.

when stocks are rallying oil is stable is that silense before storm i believe oil will explode i long on 7525 where is asad and chloe today miss ur comments

Moody's Investors Service Inc. expects to conclude its review of Greece's A3 rating in the coming four weeks and the ratings change "will most likely be substantial" and could even see Greece downgraded to below investment grade, the rating agency said Monday.

A downgrade "will most likely be within the Baa range," Moody's said, in a special comment outlining its sovereign rating approach in the financial crisis.

The comments echo those Moody's made April 29, when it said that "a multi-notch downgrade is likely" and should be based on "the country's medium-term credit fundamentals" because liquidity and debt restructuring risks were "negligible."

Moody's downgraded Greece to A3 from A2 April 22, and placed the rating on review for possible downgrade.


-by Mark Brown, Dow Jones Newswires; + 44 (0)207 842 9485;

they are buying euro what is happening is bluffing in my opinion euro will see 13090/13110 before resuming these people wont give us clear direction they want to make money like us like we say in africa sense pass sense !

Im confuse right now im hedged
sold from 13411, 13389 and 13230 in Euro sep future contract
and long right now from 12535 12680 12727 in may contract
my Long EM0 contract expires 11th june
what should i hold and what should i liquidated here.
this totally eludes me right now seeing euro hold below 12865 cuz for me thats signal for further downside