Market has been just trading sideways since morning apart from JPY pairs which were expected to drop.
EURJPY is in buying zone and could rip 150 pips by monday however I would suggest on low risk. EURJPY but at 123.00 and TP at 125.20.
AUDUSD will be affected by few political comments in future. Today member of treasury said that AUD is way too much overvalued and it is hurting our manufacturing and exports. Moreover Rio Tinto declared first ever loss in its history which shows a sign of fatigue in mining industry as well.
NZDUSD has pick up 18 months high on better than expected economical data. The pair is trading at 8505 at the time of writing however likely to come down soon. There is a strong resistance at 8540.
GBPUSD has been the biggest looser of the week winning the crown. It looks like UK is running a marathon down and will collapse any minute.
I don’t know about that GBPUSD long, looks to me like the demand has just been swallowed up on the hourly, look for lower lows today in GBPUSD and EURUSD.
I have the same view on the direction of EURJPY as well. If the current BOJ Governor is replaced with someone like Kuroda, who advocates additional monetary easing, this may boost the EURJPY towards 125 or even higher.
I think it is good in England at the moment, we’re not really growing as an economy, and things aren’t really shrinking like the over dramatic news says so.
I thought it was terrible here, so i went to live in Australia, i didn’t really like it as there isn’t much going on. Business there is shrinking, the only thing really booming is the mines.
I came home and it took me eight days to get a job from clicking apply to actually getting one, i had four job offers too! I think it just depends on what qualifications you have. I know probably 20 people with business and management degrees but probably only 2 people with electronics qualifications like mine.
I think the UK is bankrupt, but only like most of the rest of the world. Plus we still have a triple AAA credit rating, unlike France or Belgium or even most of the other european countries.
