Posted on - September 30, 2014 7:30 pm (Australia/Sydney) |
Nice try earlier from the cable to break above technical resistance at 1.6280/90 but the nasty move lower in EUR/NOK caught the overall market unawares and that’s had a knock-on effect on the GBP as well. Fresh short-term lows have been printed below 1.6200 and more downside looks like the most likely short-term outcome.
Posted on - September 30, 2014 7:45 am (Australia/Sydney) |
The one currency which seems most likely to appreciate quickly once the USD bulls get tired is the GBP, in my view. There hasn’t been too much of a bounce thus far in cable but I have been on the look-out for a short-term base to form. The price action above 1.6200 will be giving […]
Posted on - September 30, 2014 6:49 am (Australia/Sydney) |
There were plenty of reports in the FXWW chatroom yesterday of very large offers at 109.74/75, protecting an option play at 109.75 (the market needs to trade through the exact level in order to trigger the pay-out). There will be another possibly even bigger barrier at 110.00. USD sentiment remains buoyant and further attempts to […]
Posted on - September 29, 2014 1:26 pm (Australia/Sydney) |
The lows from January at .8660 are coming into view for the AUD/USD and they might encourage some bouts of profit-taking from those clever traders who’ve been short since 93 cents. AUD/NZD might also catch an up-draught after the comments and reports out of New Zealand. Contrarian bulls should keep their pencils sharpened, just in […]
Posted on - September 29, 2014 7:05 am (Australia/Sydney) |
Live pictures this morning from Hong Kong show masses of people sitting-in all around the CBD. This will surely have some continued effect on stockmarket activity in particular. Weekend industrial profits data out of China was pretty disappointing so the risk-off card may be the one to play in today’s FX market sessions.