Show Buttons
Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkdin
Share On Pinterest
Share On Reddit
Share On Stumbleupon
Hide Buttons

Ozzy Dollar And Cable Move Lower, Yen Moves Higher

Groundhog day again. Ozzy and Cable are moving lower and Yen is moving higher.

Yen pairs moved to new highs again in the Asian session but have been retracing for most of the day. The Yen is very weak at the moment and the selling sees no sign of letting up any time soon.

AUD made a little up move on Monday but weak numbers out last night have seen it make another leg down today.

I did mention in my post on Friday that Ozzy would continue lower this week with a target of 10225, which could get hit tomorrow or Friday if the slide continues. Unemployment figures are out for Ozzy later this evening so that should see some action in the pair.

Euro continued its move down on Monday from the sell off on Friday. We saw a strong pullback yesterday on the back of comments out of Europe saying the Euro is not high enough to warrant action from the ECB. That pushed the price up significantly but we have seen it slide again today.

The ECB rate decision is out tomorrow so we are unlikely to see much movement in Euro Dollar until that news is out. The consensus is for rates to remain the same. I think if we see the Euro above 140 we will see a rate cut, but until that happens i think they will leave rates on hold.

Cable was doing OK on Monday until poor numbers came out that saw it make a sharp move lower. I think Cable has a got a bit further to go yet before we see it come back. There is talk of QE and a possible downgrade that is weighing on Cable.

I would just like to state that i do not trade fundamentals or news. I am merely commenting on the pairs i trade to try and give you an overview of what is happening. It makes no difference to me what news comes out and when. I only trade price action. I trade what the chart is telling me to trade.

OK trades so far this week are as follows.

Monday we took Cable long at 15696 up to 15744 for 48 pips. We also took AUD short at 10437 down to 10400 for 37 pips.

Tuesday we took EJ long at 12410 up to 10480 for 70 pips.

Today we took Euro long at 13515 up to 13545 for 30 pips. We also took AUD long at 10297 up to 10329 for 32 pips.

If you are in the markets this week have a good week. 🙂

If you wish to learn how to trade Forex please consider my Forex training course.

Leave a Reply