Daily Market Review 6 of June
OVERVIEW

The Euro remains under pressure and analysts mark that the slackness of the ascending correction is quite explainable taking to consideration the fact, that the main event in focus is the Greece elections. Nevertheless the investors can find enough reasons to hope for softer comments of the FRS representatives and the actions of the officials of the EU and the IMF, which can support the Euro in the short run taking to account that the shift in speculative positions makes the pair quite sensitive to any favorable changes of the political background. The attempts of the Euro recovery are not excluded but its potential appreciation can be regarded as the opportunity to open short positions on it.

CURRENCIES

EUR/USD

Yesterday the Euro depreciated against the US Dollar from 1.2541 to 1.2409 with further bounce to 1.2488. The correction of the Euro rate continues, though the goal levels of 1.2660, 1.2770 and 1.2880 remain untouched at the moment. Perhaps by the end of correction the Euro will be again under sales’ pressure.



GBP/USD

The Pound grew against the US Dollar from 1.5321 to 1.5190. World analysts assume that the growth of the British currency as well as of the Euro is temporary. The correction goals are located close to the levels of 1.5660, 1.5780 and 1.5910, though the success of reaching them will depend on the scope of correction.