Apart of my recent euro analysis I will watch following currencies:
USD seems to rise further. As long as traders wont escape to gold.
JPY - there was massive spike on 6th of may. Two days later is a local top on all JPY crosses. I think 50% retracement betweenthose two extremes is where JPY will bounce up.
| London | New York | Tokyo | Helsinki |
Sunday 16 May 2010
16-05-2010 12:36 GMT+1
Most of my attention is focused on euro, yet I found nothing certain in the market. I see both 1.10 as well as 1.30 for euro possible [including possible ECB intervention].
Specifically 1.30 is quite unexpected, and that's one of reasons EU can be back there.
Yet I trade small positions on breaks of previous days lows or highs, especially on EU and EJ.
What I may say for sure is that if EU wilt utrn up, it wil be very sharp move, so if anyhow I will enter long on euro, I will try to exit 1/3 quickly and leave rest for easy 500 pips gain.
Specifically 1.30 is quite unexpected, and that's one of reasons EU can be back there.
Yet I trade small positions on breaks of previous days lows or highs, especially on EU and EJ.
What I may say for sure is that if EU wilt utrn up, it wil be very sharp move, so if anyhow I will enter long on euro, I will try to exit 1/3 quickly and leave rest for easy 500 pips gain.
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