MBCFX Technical Analysis team / 03.06.2013

MBCFX Technical Analysis team / 03.06.2013

Hi, welcome to MBCFX Daily market analysis,for today 6th of March 2013

The euro and commodity linked currencies gained on improved risk appetite, after the Dow Jones hit a record-closing high.

The Dow was supported by the Federal Reserve's commitment to bond-buying and the growing prospect of further easing by the E CB, Bank of England and Bank of Japan.

The euro was also helped by the news that Italian President Giorgio Napolitano is considering appointing a new technocrat government led by a non politician as one way out of Italy's political deadlock.

The European Central Bank meeting and ECB President Mario Draghi’s views on the need for further monetary stimulus, will be the focus of investor attention on Thursday.

Concerning the technical analysis, as we see on this chart , the EUR/USD prices are trading within a Flat Top Triangle, for the rest of technical analysis we recommend our dear traders to register in our professional daily newsletters.

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