Sunday, March 20, 2011
Trend for 20th of March 2011
I do not expect a trend to develop in any currency pairs due to some fundamental news on Monday. However, if you followed my blog you should remember that I expect yen pairs to reverse. So, again I remind you that I am in a selling mood, particularly for gbp/jpy. This pair is a great mover and easily travels a few hundred pips a day. So, I expect the pair to go down back to its’ most recent low the coming week. The most recent low is at 122.50 level.
I do not know if the move will start on Monday. Most probably it will form some daily range between 129.00 and 133.00 and then go down later in the week. But I am not sure about that. I will watch how Japanese yen pairs open in a few hours time and will make an update tomorrow in the morning, during European session. So much for Sunday night. See you tomorrow.
Read my previous posts: