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Thursday, 6 June 2013

LONDON CLOSE - Roundup

A fairly quiet day until the news in the afternoon which gave further strength to the EUR.
The near London close, a huge explosion driven by a massive strengthening of JPY against USD, which led to huge bullish rises in EURUSD and GBPUSD. The day's ranges in both of these pairs were the largest since early January in EURUSD and for even longer than that in GBPUSD.

If you had been holding longs from previous trades I highlighted over the past couple of weeks in EURUSD and GBPUSD you will very well positioned in profit now.

In AUDUSD the price has just returned to the Demand Zone (between yesterday's high and Wednesday's low) for a Demand Return trade (between 0.9660 and 0.9610), however there has not yet been a good entry point. Hopefully price will move back closer to the zone this evening and give the chance of a low-risk entry.

The demand zone is between the 2 upper blue horizontal lines:




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