Hey Valutraders! USDJPY hasn’t been this high since 1990!
Subscribe to Free Valutrades Signals at https://www.valutrades.com/en/trading-signals
I’m Brad Alexander and in this week’s Market Blast Fundamentals let’s take a look at Natural Gas (NatGas), GBPUSD, AUDUSD, USDCHF, AUDJPY, and USDJPY.
If we look, overall at JPY pairs, we see weakness, mostly against the USD based on Interest Rate and bond yield differentials.
The only exception is AUDJPY which has been trending down since the beginning of September.
That’s not a surprise as the AUD is definitely the weakest currency overall.
If we do our Strong/Weak analysis, the strong currency is the USD of course.
Therefore AUDUSD will be the strongest downtrend.
There may be some technical opportunities here and we will look at this tomorrow.
As usual, the UK government is in turmoil with the Finance Minister being sacked last week.
This caused GBP to shoot up, then retreat creating some great counter-trend price action opportunities.
Price action opened with a gap this morning with a new chancellor being appointed over the weekend, who indicated that some tax cuts may not proceed.
We will also look at GBP pairs from the technical side tomorrow and we may have Double Tops and Double Bottoms forming.
If that is not enough we have UK PPI and CPI figures due out Wednesday and UK Retail Sales on Friday so watch for more volatility.
As well watch for Australian Employment Change Thursday, Canadian Retail Sales Friday, and an EU Leaders Summit followed by Christine Lagarde’s speech Saturday.
The speech, occurring on Saturday when the markets are closed, may cause another gap Monday morning.
Natural Gas opened with a gap to the downside and the Stochastic Oscillator is showing oversold.
If you want to trade the gap; be careful as this is a trade against the trend.
Thanks for watching and don’t forget to subscribe to Valutrades Signals and the link will be in this video’s description below.
Also, subscribe to our YouTube channel and register on the Valutrades website to get notifications on new content as it happens.
That’s all for now. Happy trading with Valutrades and we will see you next time.
CFDs and FX are leveraged products and your capital may be at risk.
Disclaimer:
The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.
Comments