Short term charts are looking for a partial retracement of yesterdays move, with the main trend back in the Dollar´s favour. You can look to either play the retracement with tight stops, then look to build trades in the main direction of the trend. What ever you decide, please, please´please use stops...
I think the stocks will play a major role in FX trading today with a huge amout of option expiries due. Should it be the case that traders are holding the stockmarket higher to ensure options expire worthless then we should see the stocks dive after expiry. If that is the case Yen crosses should fall hard with Aud/Jpy leading the charge.
Eur/Usd 1.3547
Usd/Chf 1.0895/1.0817/1.0746
Gbp/Usd 1.5467
Aud/Usd 0.8951/0.8875
Nzd/Usd 0.6985
Usd/Cad 1.0533/1.0465
Saturday, 20 February 2010
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