EXCHANGE RATES

Currency Support II Support I Resistance I Resistance II
EURUSD 1.2620 1.2850 1.3300 1.3330 1.3500
GBPUSD 1.5270 1.5500 1.5845 1.6000 1.6180
EURGBP 0.8200 0.8230 0.8395 0.8650 0.8880
USDCHF 0.9050 0.9100 0.9105 0.9330 0.9570
USDJPY 75.00 75.50 77.20 78.30 80.00
USDCAD 0.9780 0.9850 0.9950 1.0350 1.0520
EURCHF 1.2000 1.2030 1.2105 1.2250 1.2480
EURJPY 97.00 100.00 102.65 102.50 104.00
XAUUSD 1680 1715 1739 1760 1800
XAGUSD 28.50 32.50 34.00 35.00 36.80

EVENTS & MEETINGS

Bank of Italy Saccomanni holds briefing at Foreign Press club
Italy?s Monti speaks in Washington
ECB Meeting, Frankfurt
BoE rate decision

VIEWS & TRADING IDEAS

EUR/USD

The market is now fully focused on rate decision due at 13.45.
Early in the session, the news that the negotiations in Greece had
failed saw EURUSD fall to 1.3215, but one Newspaper reported Greece?s
coalition government had reaches a tentative agreement on the terms
required to unlock EUR 130B in aid. The resistance now lies at
1.3330-50, if taken out it could pave the way up to 1.3400. Overall
we expect some trading ahead of ECB announcement between 1.3200 and
1.3350

GBP/USD

This one could be moving quite substantially ahead of any sign of
further QE at BoE meeting. We see this as highly possible and GBP
could suffer further if announced.

USD/CHF

USD-CHF is further challenging supports at 0.9100, next support
stands around 0.9000.

USD/JPY

USD-JPY still trades in a range between 76.50-78.00, we prefer to
but USD if anything.

Commodities

Strong Chinese Cpi turned around the bearish feeling that was over
the metals since yesterday afternoon when short term players tried to
put the pressure over the metals market.
Overall, the technical supports holds and as we are higher now, we
could expect gold to return into 1750$ and silver near 34.40$

Foreks Haber Merkezi ( haber@foreks.com )
http://www.foreks.com
http://twitter.com/#!/ForeksTurkey