Around 0.6% loss is not much given the conditions of many pairs. So one can say both the currencies in the pair held on their own and did not allow the other to appreciate too much. What happens from here remains to be seen as there is both ECB and BoJ meet next week. JPY pairs are known to be volatile and are good for medium to long term trading.
This pair gained nearly 0.6% for the last week basically on the back of weak US Dollar. There was nothing much from Eurozone and it was mostly US based moves as there were many important economic data’s and Yellen testimony where she was dovish! USD is clearly down and there are more indications of it being down for a while more so if the data’s continues to come out weak!
GBP performed very well against USD next only to AUD & CAD in the G10 currencies, rising nearly 1.67%. This was primarily on back of weak USD economic data and dovish statements from Central bank speakers including Yellen testimony to US parliament. There was nothing much coming out of UK for last week. Looking ahead there are inflation data and report from UK next week along with some US data.
USD/JPY has been staying on lower side around 110/109 level, it’s likely that we will see things gaining some momentum, as we go ahead. But, the overall scenario is still pushing for bearish trend, so the best chance is certainly to go for shorts here.
EUR/JPY has been amongst the steadiest pairs at present. The pair is running between 128/129 levels, so it will be interesting whether we see this scenario continue ahead or not. So, it’s what we need to watch very wisely to enter into any trades.
AUD/USD has gained somewhat in recent days, but has been steady instead of aggressive mode. It will be good chance to go for sell, but only if the price remains below 0.80 level or else we will be better at long trade.
GU has gone down rapidly and is likely to continue on same mode once we go ahead with no event looking on for turning this around. It will be best to go for sell, but we need to make sure that we enter once there is some sort of pickup!
EU has stayed upright throughout the week so far, as we see the pair near 1.20 level, but still the trending is not clear which means it’s not the worst time to get into the trade but needs to be done for short term until there is clear trend present.
GU has been wild in last few weeks, but so far this week; it is fair to say that things have remained relatively steady with the pushing going towards upper zone. It is highly that we will see come drop after such a massive rise, but still the overall scenario remains positive.
EUR/USD has been running in very mixed trend in last few days, it is highly likely that we will see similar trending ahead as well. So, it is not a clear opportunity to trade on any direction, but looks better to go with shorts here, as slight momentum is that way.
