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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:


Breakout and trend


Disclaimer

Trading financial markets carries a high level of risk, and may not be suitable for all investors. All information on the blog is of educational nature and cannot be considered as advice, recommendation or signals to trade in any financial markets.