GBPUSD Pivot: 1.553 Likely scenario: Long positions above 1.553 with targets @ 1.5645 & 1.568 in extension. Alternative scenario: Below 1.553 look for further downside with 1.5485 & 1.5425 as targets. Comment: Even though a continuation of the consolidation cannot be ruled out, its extent… Read more
GBPUSD Pivot: 1.564 Likely scenario: Short positions below 1.564 with targets @ 1.554 & 1.5485 in extension. Alternative scenario: Above 1.564 look for further upside with 1.568 & 1.574 as targets. Comment: A break below 1.554 would trigger a drop towards 1.5485.
Oil prices made solid gains overnight, hitting a 4 months highs as investors continue to bet on increased demand due to ongong cold weather in U.S.
Mover & Shaker with forex options Gold (XAU) has been rising steadily over the past month against the dollar. The precious metal gained 50 dollars per ounce over February as investors take risk off emerging market currencies and into safe havens such as gold. Gold… Read more
Hedge funds have been consistently selling rallies but we may see a reversal of this if prices break above .9170. Option protection ahead of .9050 is the main story on the downside. Real money funds have been quiet in recent sessions.
Japanese buyers returned to AUD/JPY yesterday and bids are reported at 93.25. Stop-loss sell orders are expected to be large in AUD/USD below .9050.
Most orders get cancelled on a Friday so we must wait and see what returns. There was talk on Friday of good-sized interest to sell EUR/AUD above 1.5000.
Reasonably quiet over the last 24 hours and there are no big orders being reported in the market, so we must wait and see if/when the flows emerge.
Real money funds are still the heaviest sellers of the AUD as indeed are some of the big option players, forced to adjust their hedges by the impulsive weakness. On a brighter note for the AUD, one of the major bank’s end-of-month flow analyses suggests… Read more
Real money funds are still the heaviest sellers of the AUD as indeed have some of the big option players, forced to adjust their hedges by the impulsive weakness. Asian sovereign buyers were reported below .9100 in overnight trade.