Currencies Should See Stronger Moves Today
Ian Copsey | May 15, 2014 12:52AM ET
I was right in suggesting the JPY pairs would provide the better vehicles yesterday. Their moves developed extremely well and remain very much in line with expectations and are beginning to home in on several projection targets. As the AUD/USD pushed to new highs. However, I’m not convinced that it has made any definitive statement here. The recovery actually looks more corrective and that implies a complex that would suggest a reversal lower. The added problem is that it didn’t complete a full series of zigzags so there’s an option for a minor new high and reversal … or it could just plain continue on it’s recycling lower. Thus, take care until this puzzle is solved.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.