Trading conditions over the last two months or so have been very choppy and hard to pick, in my opinion, and anyone who consistently makes money in these markets must indeed be congratulated. The whole EUR story remains bearish but the market is usually short so it falls on bad news and then rebounds sharply on short-covering. These conditions will probably stay with us until December when we’ll probably get a 10/15 big figure move when the markets get thin and illiquid.
GBP is expected to stay heavy this week ahead of plentiful economic data, but that could be a case of sell the rumour buy the fact.
USD/JPY traders will be wary of intervention but the BOJ are more likely to act towards the end of the month in order to help out their corporate base.
Good luck today.
