We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Staying Flat; Eying EUR/GBP

Staying Flat; Eying EUR/GBP

2011-08-29 20:08:00
Christopher Vecchio, CFA, Senior Strategist
Share:

These markets are frustrating; low volume begets no clear direction in the markets (and vice versa: high volume indicates a technically strong market). With no clear direction given the lack of conviction by these rallies, I am looking to 'short risk,' that is, sell higher yielding currencies in favor of lower yielding currencies (ie, short AUD/JPY, short NZD/USD). As such, I will reexamine setups tomorrow as London is no longer on holiday and market participants return to the New York market following the storm over the weekend.

--

I am still watching a EUR/GBP opportunity to the downside, now that the European debt crisis appears to be ready to take the stage front-and-center once more. With the EUR/CHF off the table as a viable hedge given the Swiss National Bank's relentless intention to make the markets as incongruous as possible, the Sterling appears to be the beneficiary of any European haven flows.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.