My Forecasts

01:00GMT Good Morning Friends, GBPUSD looks to do zigzag move but more likely to take a dip before any further trend. Almost all our pairs are into similar situation but EURs are more likely to try a small UP and as they are already tired of UP trend my guess is that players will try to hold it for some more time.
best September since 1939
Much of what was lost in August has been regained over these last five weeks. September has a reputation for being a rotten months for stocks, but the gains have made it the best September since 1939 - which, bearing in mind the five years that followed, might not be the most reassuring of statistics.The currencies though might provide some hints. The term "currency war" has been flung about over the last month along with the more familiar expression "trade war", all of which hark back to the protectionism of the Depression era. The first shots were fired by Japan two weeks ago when it intervened to weaken the yen. One blogger estimated that there had been 12 interventions by central banks in a single week in September. In the case of Japan, Stretch says: "I think inevitably the yen was always likely to drift back up. The prevailing wind is for a weaker dollar. In the absence of coordinated action they were pushing against the market on their own, and that seldom works."The only currency that seems, for now, to be happy to allow some strength is the euro.Stretch explains: "I think this to some extent is part of the Bundesbank's influence within the European Central Bank, and which says that a hard currency is a good currency."But when the pain threshold is reached, probably around 1.40 euros to the dollar, then we will see the politicians beginning to demand action - the French are usually the first to break ranks - and put a cap on the currency rising further."