It's all about-turn in the FX markets right now 4 April
In my last post I warned about GBPUSD support/demand between 1.4000-10 and warned shorts not to get greedy and advocated the use of trailing stops as a safeguard.
Hey presto, from 1.4014 here we are at 1.4071 in a hurry with GBPJPY up to 149.47 after holding 148.80 and EURGBP failing above 0.8750.
EURUSD back to 1.2300 also buoyed by EURJPY demand and other core pairs following suit as yen sellers return with USDJPY holding steady around 106.25.
GBPUSD still has good sell interest at 1.4100 and EURUSD 1.2330-50. USDJPY demand 106.00 holding as I warned previously but has sellers now between 106.30-50 with large interest between 80-00 still.
AUDUSD range 0.7650-0.7720. NZDUSD 0.72550-05. USDCHF 0.9565-05 USDCAD 1.2780-1.2880 on the wide.
Let's see what the US equity markets have to say for themselves when they open at the bottom of the hour.
Life they say is a rollercoaster. More so these FX markets eh? Try not to get too dizzy out there.
