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The Dollar/Yen's is back to slow, small, and boring moves! It barely completed 90 pips from the low to the high in the past 24 hours, which is very frustrating.

The Euro broke the support specified in yesterday's report 1.2706 and successfully reached the first suggested target, stopping only 4 pips below it! Today, yesterday's target have turned into the most important support, because it managed to stop the latest episode of the falling series which started close to 1.3105 Fibonacci level that we have talked about previously. If the price holds above this support, it will finally have a break, and we could see a rising correction after this drop of more than 500 pips in less than 48 hours! Today's resistance is at 1.2693, and breaking it would indicate we are already in a rising correction for the whole drop from 1.3092.

It has been reported that former state lawmakers Tom Graves and Lee Hawkins Tuesday headed to a June runoff in Georgia's 9th Congressional District special election.

With most of the votes counted, Graves, a businessman from the small northwestern Georgia town of Ranger who has the Atlanta Tea Party endorsement, had about 34 percent of the vote to 24 percent for Hawkins, a dentist from Gainesville, in the eight-candidate field, The Atlanta Journal-Constitution has reported.

According to the media reports, Jason Carter, the grandson of former U. S. President Jimmy Carter, Tuesday won a special election sending him to the Georgia Senate.

The younger Carter, a Democratic Atlanta lawyer, polled 65.6 percent to win state Senate District 42 in DeKalb County. Tom Stubbs, another Democratic attorney, was second with 22.9 percent, Libertarian businessman David Montane was third with 7.5 percent, and Independent Steve Patrick had 3.8 percent, the Atlanta Journal-Constitution has reported.

According to the reports, voters in West Virginia's Democratic primary Tuesday wrested the 1st Congressional District seat from the Mollohan family for the first time in 42 years.

State Sen. Michael Oliverio soundly defeated incumbent Democrat Alan Mollohan. With 420 of 670 precincts counted, Oliverio had 25,524 votes to 19,754 for Mollohan, the Wheeling News-Register reported.

Technical Analyst Husseini Wadharia of Techno Shares has maintained 'buy' rating on Larsen & Toubro Limited (L&T) stock to achieve a target above Rs 1585 in a period of one week.

According to analyst, investors can buy the stock with a stop loss of Rs 1545.

Today (May 11), the shares of the company opened at Rs 1550 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1800 and a low of Rs 951 on BSE.

Current EPS & P/E ratio stood at 49.48 and 31.49 respectively.