12th October, 2008.
Another terrific uncertain week passed off. The risk aversion behavioral pattern affected most of the market movements last week. Though, as per the expectation, the JPY crosses witnessed the JPY strength, and pairs such as AUDJPY, GBPJPY, EURJPY, and CADJPY went down. This week also the USD was seen to be the in-demand currency due to its present failed-to-modify economic status. Just in a same way the strength of JPY too may be supposed to be illusive rather than concrete real one. JPY strength might reflect its temporal demand with likeliness to fade.
Whatever correlation could be there; but, at one place the JPY pairs plunged, on the other hand, the USD pairs like GBPUSD, EURUSD, and AUDUSD were also noticed to move to a lower direction. The fearful minds of traders drastically influenced the EURUSD.
The upcoming week will be just one more addition to the concurrent weekly proceedings of the market, unless any major news-making positive occurrence takes place. Traders need to keep an eye on both the fundamental and technical aspects of the market at every moment and movement. Keep calm and be hopefully are the best strategies at these hours; less the confusion will be the more we opt out of discussing about what these analyses indicate for the future. Though, to rely on the viewpoints of the fundamentalists may be more reasonable than that of the technical analysts. The EURUSD zone still haunts to be susceptible; however, both analyses predict its reversal move in a situation if the ongoing current demand for USD expires. If so, then, buying for this pair around 1.3200 with sustainable stops will be profitable at large.
Time is a very best remedy for any healing. Pay close attention at the news coming out especially from the US economy. Let's hope for improvement !
Whatever correlation could be there; but, at one place the JPY pairs plunged, on the other hand, the USD pairs like GBPUSD, EURUSD, and AUDUSD were also noticed to move to a lower direction. The fearful minds of traders drastically influenced the EURUSD.
The upcoming week will be just one more addition to the concurrent weekly proceedings of the market, unless any major news-making positive occurrence takes place. Traders need to keep an eye on both the fundamental and technical aspects of the market at every moment and movement. Keep calm and be hopefully are the best strategies at these hours; less the confusion will be the more we opt out of discussing about what these analyses indicate for the future. Though, to rely on the viewpoints of the fundamentalists may be more reasonable than that of the technical analysts. The EURUSD zone still haunts to be susceptible; however, both analyses predict its reversal move in a situation if the ongoing current demand for USD expires. If so, then, buying for this pair around 1.3200 with sustainable stops will be profitable at large.
Time is a very best remedy for any healing. Pay close attention at the news coming out especially from the US economy. Let's hope for improvement !
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