Thursday, 30 September 2010

My Forecast

14:00GMT GBPJPY is about to drop in a spike down unless GBPUSD makes it to 1.60ish. It will be interesting to see how GBPUSD is handled to balance EURGBP & GBPJPY. GBPUSD climb will negate any need for EURUSD to drop for EURGBP to do down.
11:30GMT EURJPY:

05:50GMT BOJ biting nails for pre-weekend chaos.. USDJPY breaking all tiles on floor.
04:30GMT We may be heading DOWN for GBPs and UP for EURs during EU session start..unless players spoil the trends..
03:30GMT The dollar was stuck near an eight-month low on Thursday, ground down by expectations of more Federal Reserve easing, while Asian stocks pulled back slightly from a two-year high as markets took a breather from September's strong rally. Asian stocks ex-Japan fell 0.4 percent but were set for their best quarter in a year as investors poured money into regional markets on the back of robust economic growth driven by China. Mounting speculation that the Bank of Japan was preparing to ease monetary policy again and that it could take action at its meeting next Tuesday was keeping the yen's gains in check.Traders also remained wary of any further intervention by Tokyo to weaken its currency, as the dollar struggled against the yen.
By late morning it was at 83.80 yen, just above a 15-year low set just before Japan intervened to sell the yen on September 15."The big turning point in September was intervention. The move has helped to soothe fears about a further advance in the yen and put the stock market back on a recovery path," said Masayuki Otani, chief market analyst at Securities Japan, Inc. "Neither the United States nor Japan has changed their stance towards easing policy, and that will likely support the market. The domestic economy is seen slowing from now on, but a sharp slowdown is unlikely and stock prices will likely move to factor that in advance and build on gains." Japanese government bonds dipped on profit taking after the previous day's rally, although weak industrial output data further clouded Japan's economic outlook and helped to curb losses.

01:00GMT Good Morning Friends, Players may try some odd trends today & t'mrrow (long spikes either way -extreme stophunts). EURUSD & EURJPY is ready for another roof-hit; Though JPYs are creating some panic among BOJ teams. There are chances that there may be another intervention before USDJPY reach 80 mark. Lookout the RSIs of GBPs and it points to a down trend sooner.

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