For the past 6 months, the GBP/JPY cross has dropped constantly, eventually reaching a year low at the rate of 132.02. However, promptly after falling so far, the pair began to correct upwards, and has reached the 139.35 level two days ago. Could the bullish correction proceed? Not according to several technical indicators which claim [...]

EURO and GBP had a slide day yesterday.They are expected to make some lower level swings and gain levels during Japanese session.During European session they are expected to gain quickly.During late European and early US session they are expected to make some dip and volatile moves and firm up for week end.

Next week Monday they are expected to firm up and gain levels very quickly to reach above the estimated highs of the channels.

I will explain the trading strategies using hedging and also how to determine the entry and exit using price action of the market during todays twin webinars - Tracking the market together part I and part II going to be given during 05:00-05:45 GMT and 14:00-14:45 GMT respectively.

The link to register is available in the home page of fxstreet.com

Regards

Dr.Sivaraman

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Slightly Bullish

Usd/Chf: Slightly Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Bearish

EURO and GBP made  the slide as expected  from yesterday mid US session.They have made the  slide during Japanese session as posted here  yesterday.

During early European session after some firming up move are expected to slide during late European session to reach near low and then swing and firm up during US session.

Recovery move is expected during week end ( Friday)

Regards

Dr.Sivaraman