Now the FX market can really open for the week
Thankfully I’ve missed no opportunities during a very side-ways Asian session so we can look to early Europe for the first swing trading opportunities:
- EUR/JPY looks like it might be worth buying if an hourly base can form above 129.60/70; keep stops tight as market is already short of yen and the target is 131.10.
- EUR/GBP might be worth selling near .8620 looking for a 60/70 pip pull-back towards mid-range levels. As always, let a top form first.
- If AUD/USD breaks below 1.0250, then look for small relief rallies to get short on.
- Obviously 100.00 is a huge level in USD/JPY; I don’t fancy pre-empting what might happen and will wait and see how the market reacts.