Saxo Bank (Saxo Bank)
Currencies  |  September 07, 2010 12:04:07

Australia has a minority government, held meetings and the BoJ and RBA


Given that the U.S. was the night out of the game was not nearly as trading session star (as you can imagine) in terms of general price movements and market developments.

But there's a meeting of the two central banks - Japanese and Australian - which took place overnight and that both ended nepřinášejícím result of any changes.
While in Japan, a performance virtually no accompanying commentary, Australians mentioned direct correlation (note that such a thing happened the first time) with possible (at least on my part but very realistically expect) a slowdown in China, which even those who still were not sure, plunged Australia in the context of current global climate back to the dark ages. More interesting news is that it was finally confirmed by the emergence of a new minority government headed by the new (Labor) Prime Minister Julia Gillard. Similarly, as was the case this year in British elections, brought the end of two weeks of uncertainty the local currency and strong encouragement of this particular currency pair is expected to grow further.

Like yesterday and today he's calendar with expected data emptiness, so that even today we do not expect any major news that the markets moved. With regard to developments in currency markets in the coming days we expect to open up new positions in connection with the arrival of the new moon and maybe even more traders will be reflected back from summer break, which we seemed to be one of the longest we've experienced.
Individual currency pairs ....

First we look at the GBPUSD. Here is a relatively weak trading and overall market sentiment, it seems that in the next few days, this really will head downward, and it sharply. But Tom, like several other somewhat reluctantly plays against the trend, it says that today will buy GBPUSD down to 1.5400 as purely speculative and will watch the game last ufuněný step up to the level of 1.5460 / 70thI like Tom, but I do not always fond of his ideas, and today it just goes to show. It is possible that it, like all his friends to stop removing nasty positions, which should find a final level of support around 1.5350 area.

The EURUSD pair, it seems that we hit the area on short-term resistance at 1.3030 so far and consolidating recently acquired power. The bands and levels that apply today are in the game today, except that we have today in the morning for a better offer. Good deals reportedly sits in the zone 1.2750 / 60 and around it, with a stop-loss just below it.
AUDUSD according to the above message still appears healthy, but vulnerable. Staying above 0.9080 (break and only today closing below this level will confirm further decline), but it looks like this puppy could go to the next foray into the 0.9200 / 30, where he stands in front a fewgood bids.

USDCAD .... Read yesterday's comment .... Tomorrow's BOC statement is the only thing that could bring some change.

Finally CHFJPY ... if you like clearly defined zones and profit, it might pay to monitor the daily four-hour charts and this couple. Good deals are at 83.30 / 40 and equally good demand at 82.75. The rest I leave to your estimate.

Ken Veksler, Saxo Bank
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