Investors leave EUR/USD
European currency continued to move in a side trend during the week, 1.28 and 1.30 levels still keep the markets. At the moment the EUR/USD pair is not going to fall abruptly, the adjustment towards the level of resistance of 1.32 became more likely. This wide diapason can last the whole summer, because the liquidity on the market is lessening due to vacations and summer holidays. That is why we believe that long-term traders had better leave the market, short-term traders are in a better position, because they have more opportunities.
As a short term trading of the pair EUR/USD, we recommend opening short positions, when the price is near the level of 1.30 with the aim of 1.29. If the price of European currency continues to grow higher than 1.30, then it is worth buying the currency with short-term aim of 80-100 points.
AUD/USD on a razor-edge
Imagine that you are standing on the roof of 100-storeyd building and are looking down, now you can visualize how the AUD/USD looks like. Closure of the last week near the level of 0.9650 demonstrates how strong this support is on long-term graphs. The Australian still looks very week, and we see the fall lower than the level of 0.9650 on a daily graph, then the next aim is the level of 0.90. The ascending movement seems another thing, there are no reasons for AUD/USD pair deployment, however, if the pair goes down the main aim will become the level of parity.
USD/JPY returning to 100?
USD/JPY pair fell during a hasty trading on Friday, moving towards 101. “Daily risk” was also of great importance at the end of trading hours during the American session one could observe lowering of optimism on stock markets, slowdown of this factor influenced the USD/JPY pair.
As one can see on the graph the market is returning to ascending triangle. We think that it is more and more profitable to buy dollar against yen, regardless of the term. Frankly speaking it does not matter, because bull trend on USD/JPY – is a long-term situation. In fact this market will most likely continue find its way during the upcoming months, maybe longer. We recommend the traders to open long positions on USD/JPY from the area near the level of 100.Social button for Joomla