Buying the SP500 Index may be a good short-term trade this week, but it could still prove dangerous. Find out more:
The USD/JPY was a good reflection of trading results across the Forex spectrum the past week as volatility increased in the hours ahead of the U.S Fed announcement, but then began to exhibit strong selling of the USD.Speculators perhaps should practice some caution as the USD/JPY opens for trading on early Monday, and be on the lookout for the potential of momentary reversal higher as financial houses seek equilibrium.
The USD/JPY may challenge support levels below, but from a momentum perspective traders should not become overly ambitious. And to add fire to the rather political interpretation of economic data which shows the American economy is slowing was Treasury Secretary Janet Yellen’s comments that she did not believe the U.S was in a recession
If the GBP/USD can open the week with sustained value near the current price and then stage an incremental climb above the 1.22000 ratio this could intrigue buyers and cause them to become more bullish. Two weeks of solid gains may be wetting the appetite of speculators who have watched equity indices gain and believe more is to come. Earnings season has had little effect on the rather bullish perspectives shown by investors the past couple of weeks. Investment houses may believe the U.S Federal Reserve will be forced to curtail its hawkish policy sooner rather than later. And perhaps they are correct..
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