FXWW News/Open/Wrap

Quiet start to interbank trading week

  • I still like the buy-intraday-dips play in AUD/JPY after Fibo support at 88.65/70 held (see chart); 
  • I also like the sell-rally strategy in EUR/GBP now that we are below the previous pivot at .8600;
  • USD/JPY should trade sideways between 96.75/98.50 in coming sessions with plenty of opposing factors at play;
  • AUD/USD will trade sideways .90/.93 pre-general election and then break higher, in my biased opinion;
  • Cable is a buy-dips play, market is caught structurally short;
  • EUR/USD is a waste of trading time in my view, much better opportunities elsewhere.

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