In time to come with talks about global financial crisis surfacing soon, major currency holders clouded with debt ceilings, what is going to happened?
One thing for sure, currency trading will still continue.
When equities, mutual funds, energy and precious metals going through madness, one dealing desk will continue as per normal, day to day and that is currency dealing desk.
As it is, FNP will still stay with Commodities Currency through this period of time and still looking at JPY pairs from time to time.
AUD/USD (Gold)
What a drop last week with over 500pips of movements. Unable to clear 1.1065. How will it move this week? It in between 10week and 40week moving average. A lot of uncertainties going on in the world.
USD/CAD (Oil)
Last week, not much of a follow through from the previous week. Nonetheless, price has managed to moved higher than 10week and 40week moving average and broke 200week moving average.
JPY Pairs (USD/JPY, EUR/JPY, GBP/JPY)
M for madness. Be careful of spikes now and then. I have been brutally bitten by it last week via USD/JPY. Things was going my way till the spike on last Friday took out my position.
This week, just be very careful of the movements because, anything that the world's key position holders say, will create unnecessary spikes.
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