After Medvedev threw a BRIC in the works of all those who were long USD and JPY yesterday afternoon, it all turned out to be just another Russian having a free dig at an old adversary. The sharp move up caught the short term market short but I believe we can now expect a resumption of the EUR/USD and EUR/JPY selling. The bids we referred to yesterday at 1.3750 in EUR/USD were very strong but expect big stops below. The EUR/JPY retracement is still in effect and I expect to see a test of important technical levels around 130. For this session, I’m happy to trade a 1.3760-1.3860 EUR/USD range. Good luck today.
Risk aversion still the play in Asia
Source: www.forexlive.com
Read more...
US Dollar down across the board
By TraderVox.com Tradervox (Dublin) - Euro retraced back below the 1.3100 levels as it was under the pressure all day. It is trading near...
USDCAD is in uptrend form 1.0333
USDCAD is in uptrend form 1.0333, and the fall form 1.0678 is treated as correction of uptrend. Key support is now at 1.0515, as long as this...
BOE’s Fisher: Weaker sterling helping exporters
BOE’s Fisher says domestic output seems to have stabilised, with weaker sterling helping exporters. Cable giving up some of it’s hard fought ground, presently at...
The Greenback Rose After Strong Economic Data
The release of strong economic data from the U.S. economy led to a stock market rally in the U.S. and the rest of the world. This led to strong implications for the Dollar. The Dollar rose against the Yen, whilst dropping against the British Pound. However, there was very little movement against...
Yen Set for Weekly Loss After BOJ Minutes Release
By TraderVox.com Tradervox (Dublin) - Minutes of the BOJ meeting have indicated that another asset purchases program is on the making...