USD/JPY 84.24

On Friday Dollar/Yen sharply increased, than lost the gains, in converse with the positive Interbank sentiment at nearly -80%. The currency couple appreciated from 84.20 to 85.12 on Friday, closing the week at 84.24.

EUR/GBP

Current level - 0.8335

Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area.

EUR/USD

Current level - 1.2897

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206.

EURO: Euro (1.2895) tested the strong resistance of 1.29 (200 H4 EMA) levels this morning and is hovering around the same levels. The better than expected US NFP data released on friday gave some boost to the risk appetite in the other currencies. A break and close above 1.29 levels can push the pair next to 1.3030 - 50 levels where selling can be initiated. Exporters in EuroInr can look for covers near 60 - 60.50 levels for the nearterm, whereas the importers can hold until 59.20 levels. Medium term bias: Overall bearish.

GBP/USD 1.5487

On Friday Pound/Dollar continued rising, in line with the positive Interbank sentiment at nearly +7%. The Cable appreciated from 1.5390 to 1.5466 on Friday, closing the week at 1.5447.

EURUSD

The euro managed to reach 1.2900 on Friday's NFP release which came at -54k. Although 1.2900 currently caps the upside, the euro is set to strengthen - breaking above 1.2900, and that would be a short-term bullish confirmation.

EUR/USD 1.2887

On Friday the Euro/Dollar continued climbing with nearly 100 pips. The European appreciated from 1.2812 to 1.2903 on Friday, matching the positive Interbank sentiment projection, at nearly +9%, closing the week at 1.2891.

EURUSD Outlook

The EURUSD continued its bullish momentum on Friday after price break above the trend line resistance as you can see on my h1 chart below. This fact could trigger further upside pressure testing 1.2930 key resistance area like I said on my weekly summary.

EQUITIES

The US Equities gained on good economic data releases throughout last week. The Dow (10447.93) was up 2.93% and the S&P 500 (1104.51) was up 3.75%. The Dow has honoured the Support at 10000 and may go up towards 10700-50 in the coming weeks. The US is close on account of Labour Day today.