The S&P500 turned down yesterday, but FX markets did not follow much. We can see USD still within intraday ranges, the only exception was AUDUSD where we have seen a move down with the S&P losses. As you know on AUDUSD we have been observing a potential bearish scenario which is playing out now it seems, as decline from above 0.9040 can be wave iii) so current slow price action can be wave iv) with reversal down coming from 0.8980/0.8990 intraday resistance zone. AUDUSD 30min…See More
EURGBP - Pound to under perform EURTrade RecommendationBuy EURGBP @ 0.8338 Target 0.8425 Stop loss 0.8298EUR/GBPPound likely to come under pressure as markets realize that Bank of England may not raise interest rate given that corporate debt in UK is near crisis levelsUK Trade deficit data due on Friday is likely to show worsening of trade deficit. Moreover earlier trade deficit is likely to be revised lowerUncertainty in Ukraine will affect UK economy more than EU. Hence geopolitical…See More
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