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Published on Sep 26, 2016
The
EUR/USD pair had a fairly volatile day on Monday, as we continue to see
quite a bit of choppiness. At this point in time, looks like we are
struggling to get above the 1.1250 level with any type of authority, so
having said that it would not surprise me at all to see this market
pullback again. After all, we have gradually been making lower highs
over the last couple of months, and even though we are still within the
consolidation area that we have been in for some time, we are starting
to show a significant amount of bearish pressure above and with that
being the case it’s likely that the sellers would get involved at this
point in time. A breakdown will more than likely reach down to the
1.1150 level below. That is a significant amount of support, and with
that being the case it’s likely that we have a short-term selling
opportunity on exhaustion.
DailyForex
DailyForex
Published on Sep 26, 2016
The
US dollar fell against the Japanese yen during the course of the day on
Monday, as we continue to grind our way towards the 100 level below. If
we can break down below there, it’s likely that we would continue to go
much lower, at least until the Bank of Japan got involved. I do think
it will get involved given enough time, so be aware the fact that it’s
dangerous to start shorting this market below. If we do rally from here,
I think that it will be very choppy, and you will have to be able to
hang onto quite a bit of volatility to take advantage of what I think is
a bit of a “backstop” by the Bank of Japan. With this, I am bullish but
I also recognize that it isn’t going to be easy.
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