Trade Recommendations for current Session There is little to really trade today as price action has been relatively subdued across major crosses and pairs following relatively subdued price action across the board overnight. I am still holding to my trade call yesterday to sell GBPUSD, however we do have a speech from Carney today coupled with UK industrial data, if that data comes out positive we could see a small rally on the GBP but ultimately the negative sentiment regarding the GBP and the Scottish referendum is to strong at present so the GBP will continue to fall until the 18/9. Therefore any slight gains made by the GBP on account of positive data released today is simply going to present interesting positions for us to get in and start selling it again. This is following a poll whereby it was revealed that the vote for independence is becoming a tighter and tighter vote. Pre Session events EURUSD is now trading below 1.2900, elsewhere USD advanced on its gains made against the JPY overnight following a weakening Yen and is now trading at levels last witnessed in 2008.. The AUD is continuing its weak run following lacklustre data coming from Australia in the form confidence surveys and NAB data.
Posted on: Tue, 09 Sep 2014 06:54:31 +0000
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