Possible Recovery for Majors...

A start of a new week with bulls are still the dominant; yet signs of recovery might been seen today, the 15 nation currency gained back against the dollar to trade in Asian session at 1.4740 levels, according to technical indicators the door is open, but the Euro needs to breach some resistance levels just to confirm the movement, the pair would be facing 1.4792 levels followed by 1.4837 levels. Our calendar only has some EU fundamentals with expectation that the deficit will turn into a surplus in June.

The British pound recovered back some of the losses that was faced last week, with a potential that the US dollar will ease slightly to give the pound some room to escalate higher though their deteriorating economy will prevent the sterling from returning to its old levels. The pair will be facing a resistance at 1.8801 levels to continue climbing up again to 1.8884 levels.

Finally the USD/JPY eased down to 110.13 levels from Friday's high level at 110.66, if the dollar dips down against the Japanese Yen it will be facing 109.78 levels as if breached the pair will heading down just to gather some momentum to escalate higher once again.

Crown Forex

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