See previous audjpy short for reasons (they are the same as the last trade).
Boj has been refraining from increasing stimulus, RBA has been trying to talk aussie down, COT report shorts shows aussie longs taking profit, commodities are down which should pressure aussie, and lastly a passenger jet in was shot down by ukranian rebels increasing tensions and should sour risk sentiment.
sell eurusd on touch of 1.3588 germany declares slower growth, france finance minister declares asset purchases are inevitable, portugal bank foregoing debt payment reignites banking fears.this comes on top of ecb dovishness and better US data.
end of month dollar selling is seeing usd weakness across the board. eurusd stops are being cleared... 1.3700 will be a strong resistance. i dont think we can break it here. I expect to see this move fade back down.
long at 1.06636.... stops under 1.0700 need to be cleared to make room for a retracement.... Long term daily trendline converges with significant horizontal level of support @ 1.0663.
Feds are not preparing to raise rates anytime soon, and Yellen dismisses higher inflation. lower volatility in the market as a whole benefits Aussie. China's premier strongly commented that they will hit their growth target this year, that helps aussie... copper and gold are rising... that helps aussie. The risk to this trade is the conflict in Iraq and its...
UK sales cmae in Low, UK cpi came in low, MPC minutes more doveish, and overbought on 4 hr and 1 hr timeframes on RSI.... also at long term resistance.
us data has not been constructive for usd strength... expect more of the same for this week. Also a significant aquistion of a european company by a american company was announced today. eurusd seems to have found support at 1.3520. i think the risk reward at this point favors a long position here.
Euro falls tomorrow after ECB rate cut. Yen is at bottom of range and should strengthen until the end of the week.
UK's monetary policy is beginning to diverge from the Euro's as they will be increasing rates while rates in euro may be cut. UK's economy is doing well, with employment and housing contributing to a large part of their recovery. Euro inflation and growth on the other hand are becoming a concern to the ECB and it is likely Draghi takes action early next month in...
Big option is expiring tomorrow around the current price... Should keep price around here until the expiration, then it should rise.
NZDUSD's upside is capped by Wheelers remarks regarding the kiwi's strength from earlier in the month. I am expecting US dollar to rebound soon... US data this morning helped and data tomorrow should be supportive as well for the dollar.
nzd should see some weakness following wheeler's remarks about intervention... on the other hand aud may be supported by the rba's refrain from calling the currency 'uncomfortably high' in last nights statement.