Check out this week's Pairs in Focus- Trading Forex
has rallied rather significantly during the course of the week, breaking above the 0.68 level. The market threatened the 0.69 level on Friday but did pull back a bit. At this point, it does make a certain amount of sense we get a short-term pullback, but if we can hold the 0.68 level on some type of bounce, it’s likely that this market will try to get to the 0.70 level above.
On the other hand, if the market fails in this area, it’s very likely that the HK 50 will go looking toward the HK$18,000 level again, as it has been in a downtrend for a couple of years now. Furthermore, some of the data coming out of China is starting to deteriorate.
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