Cable started by tracking higher before the FED meet but had a nearly 350 pips movement down from the highs. This was the USD led move which was on the back of FED’s interest rate hikes and bullish projections from their forward guidance! This pair seems quite stable as of now but the Brexit fears will always continue to haunt GBP keeping any higher recovery fairly capped! Some economic data’s and other lighter events to look further next week before the holidays start and trading comes to a halt!
GU rise sharply during the week with PM Theresa May’s speech being the main focus and remains around 1.23/24 level while this week will again be Brexit which will be on focus with UK Supreme Court giving their judgment on Brexit, so that’s to watch.
UJ picked up nicely during the week with Donald Trump speech giving the push. It’s likely that we will continue to see the things staying higher, but there is no major event ahead to pull it either side which might cause neutral trend to play in.
This pair was in strong bullish trend and is likely to continue in same battery, so it will be interesting how far it can go. We can expect it to cross 115 level before the week closes out; it will be interesting watch as well. We are bearish on the pair ahead in the coming week.
This pair maintained similar lining without any major dipping and is likely to cater to same channel ahead in the weeks to come, it could dip slightly ahead but long term trend is clear cut for higher gains, so that will be interesting to watch.
This pair has been reaching pretty differently today with the pair pushing inside 1.05 mark, but was rapid to turn around and is now sticking near 1.06 level, it is likely to remain around that mark for rest of the week due to no major event in line.
This pair has been pushing low and got near 1.2350 mark, but with the Janet Yellen speech, it took turn and now is nearing 1.25 mark, but is unlikely to hold on the level too far, it is all to be changed in coming days or week, at least.
UJ has been staying very consistent this week between 113/114 level, it is highly unlikely that we will see this change anytime soon, so it will be interesting how it all works out. We will be better to look for short trade here, as that is far better bet for us.
EJ dropped heavily yesterday, but got into stable mode since then. It is likely to continue on same way, so we will be better to pick short mode right now, it could bring out good returns for us but we should wait for the trend to shift.
UJ has dropped somewhat with the pair running towards 113.50 level, it’s likely to stay in same direction as we go ahead with NFP one of the major events to watch for. It could be good chance to buy if we are to bet here.
EJ has went very high last week before closing, but today it has turned sharply and is now fighting near 120 level, it’s very much likely to stay above till any major news come around, so not bad time to push for long trades.
UJ has climbed fairly quickly and is sitting near 114 levels, it is hard to say if this is likely to continue or not, but we could see the pair stay in stable mode; It’s not exactly much else that can be spotted with events like NFP ahead.
EJ has started the week in neutral fashion with the pair showing high right on the opening, but has dropped down slightly since then, it remains to be seen how far it can go and where we will see it running, so got to be extremely wise for it.
USD/JPY is a very sensitive pair mirroring the stock and bond markets and with JPY is a risk-off pair too! So there are multiple factors at play affecting this pair. But this pair managed to keep off of the lows and is on the rise at the close of the week. But further gains might be limited more so if the risk sentiments deteriorates and there is heightened uncertainty!
A nearly 0.9% loss for this pair marked the week. What happens from here remains to be seen as the price has been plunging since last month or so. Therefore a major support area might be reached which might either be held or further breached to the downside. With still some uncertainties surrounding various events, the risk is to the downside more than the upside! But other factors also need to be considered too!