The European currency surged against the Japanese yen and the other major Forex-traded currencies today as the traders reacted to the signs of the global economy recovery with buying high-yielding assets and currencies financed by relatively cheap loans in USD and JPY.
The euro has already recovered one third of its Friday daily drop against the Japanese currency. Positive reports from Australia, signaling a sure recovery from the recession, added optimism to the currency markets. The euro also gained versus the British pound as the latter moves not so fast against the dollar and the yen.
The ongoing recovery of the euro and the other high-yielding currencies may also be a part of technical correction, which followed a yen’s rally after CIT Group Inc. filed for bankruptcy on November 1st. Some analysts point out that the economical recovery process is what helps the euro, as the recovery itself (with a jump from decline to growth) supplies a good opportunity for a high-risk and high-yield gain.
The euro along with the Australian and New Zealand dollars is the current favorite for the carry trade opportunities on Forex. With 1, 3.25 and 2.5 percent, respectively, they stand against 0.25 and 0.1 percent interest rates of the U.S. dollar and the Japanese yen, respectively.
EUR/JPY rose from 131.99 to 133.24 as of 9:42 GMT today, it opened the trading session with a gap and a downside rally, which has reached 131.56 level compared to Friday close at 132.57. EUR/USD advanced from 1.4732 to 1.4777, while EUR/GBP went up from 0.8984 to 0.9010 today.
(www.topforexnews.com)
Saat ini level harga EU berada pada kisaran pivot dan S1. Stoch 15-3-3 masih menunjukkan up-momentum, sementara stoch 5-3-3 terlihat seperti masih (atau sudah?) melakukan konsolidasi. Bila harga EU mampu menembus 1.5065, maka stoch 5-3-3 akan memperkuat posisi stoch 15-3-3 pada jalur up-momentumnya. Sebaliknya, bila level 1.4970 (S1) bisa dilewati hingga ke 1.4942 (S2), maka hal ini makin mempertegas indikator pada chart daily yang berada dalam tekanan jual.
