EUR/JPY pair this week started off in bearish zone, but quickly pulled up the socks and now back towards 1.14 levels, it’s likely we will soon see the pair above 1.15 level with comfort, so it’s wait and watch scenario as per now.
USD/JPY pair this week resumed routine bearish trend, it’s likely to hold up to similar pattern, but we do expect things to take bit turn around, but it shouldn’t be all too large with already 100-150 pips been covered after the dip.
EUR/USD pair this week was in full flight with the pair pushing forward then pulling back and then going full swing up with Fed and other news playing their part; it’s likely that we will see the pattern continue in similar fashion.
GBP/USD pair this week was pushing higher, but eventually the break came and we saw the pair dipping sharply and now stands inside 1.30 level, it’s just a start as we expect the pair to drop down to 1.25 level over next few weeks.
USD/JPY was in one of those rare weeks were things were simply upwards with no pause at all. We are likely to see this continue to certain extent and may continue 105 level, but breaking pass seems highly unlikely.
AUD/USD was in neutral trend with the majority of the week pushing things down before it all went up rather quickly and eventually closed out at 0.7615, it’s very much likely to see this continue in coming weeks.
EUR/USD was in mood with going pretty quickly without taking any breaks at all entering into 1.09 level and eventually closing out at 1.0880 level, so it’s likely that we will see pull back up, so might be good chance at bringing up.
GBP/USD was in same patch of movement with just slight breaks taking place with no pull ups while the pressure remains very much intact and we are likely to witness same level of trend and we may see the pair challenging 1.20 level again.
FED chair Yellen was kind of hawkish in her testimony to US Parliament and is set on course to raise the Fed funds rate next month which seems to driving the price of the US asset class. A new administration in Jan next year in USA and key elections in Eurozone would have profound effect on this pair. For the time being, a trader seems to be happy buying USD and flowing with the market resulting in gain of around 2.5% this week!
Not a good week for cable this week by posting a loss of nearly 2%. There seems to be some room for further going down before the FED decision to raise rate or not in Dec 2016. So, till then this pair would just be consolidating with risks skewed to the downside and a potential Brexit early next year in March 2017 would not allow much room on the upside!
USD/JPY resumed the week in similar trend with the pair riding up to 110.91 level while we may see the pair pushing higher, but there will be a push back prior to that, so we should be prepared for it and not try to do anything unwanted.
11-21-2016, 04:19 AM
(This post was last modified: 11-21-2016, 04:19 AM by Albert Robert.)
EUR/JPY continued the phase of higher pushing and is going to challenge 118 level soon, so it be good trade to be made here. However, we must be careful of the reversal, so got to keep that in mind before working towards the target.
It was nearly one way traffic up on a 330 pips move from the open and there has been no real recovery of JPY so far. So traders would keep a watch on BoJ meet next week for further clues whereby they can still push up this pair higher or bail out from the longs depending on what BoJ actually does! Economic datas & other events did not mean much as main risk even was FED this week and next week apart from BoJ meet, there is not much to look forward!
Seems another JPY led move for this pair as there was nothing for Euro to go higher which on the contrary was battered by USD due to FED’s rate hike! Now Euro was not that strong but still the pair managed to gain an impressive 1.2%! Clues might come from BoJ event next week which is a major risk event before the year end causes re-position of trades, booking profits and closing accounts!
The pair initially tracked higher but had to go down after FED decision which was quite expected but with bullish projections, it gave the big boost to USD. There were some economic data coming out from USA and Eurozone but they did not matter much as the main big risk event was FED meet. Now that the FED has done its work, it remains to see how the new Trump govt carries forward the economy!