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My forecast for the month of November 2013 is this:
Huge movements in the Fx market with UsdJpy actually pushing up to the 108 area. This said and happening would create the commodity currencies to come roaring back down as they do not want to be overstretched against the yen and thus could not both increase on Usd whilst doubling up on Jpy. EurUsd could do fine just sitting still at or around 1.33-1.34 area as it has been said time and time again that this is a good rate for the Eur. Now if the commodities Aud and Nzd come down this will automatically raise their crosses and if they come down big (which is what I am hoping) this will create some big moves for Aud and Nzd crosses, similar to last week but even more.
Now this month might be early to make these calls but the market really seems like it wants to go in this direction. I will trade this plan for this month and next two months if this month's isn't realized. This plan is huge and would reap some serious profit if realized.
Green pips to all!
Jason
Huge movements in the Fx market with UsdJpy actually pushing up to the 108 area. This said and happening would create the commodity currencies to come roaring back down as they do not want to be overstretched against the yen and thus could not both increase on Usd whilst doubling up on Jpy. EurUsd could do fine just sitting still at or around 1.33-1.34 area as it has been said time and time again that this is a good rate for the Eur. Now if the commodities Aud and Nzd come down this will automatically raise their crosses and if they come down big (which is what I am hoping) this will create some big moves for Aud and Nzd crosses, similar to last week but even more.
Now this month might be early to make these calls but the market really seems like it wants to go in this direction. I will trade this plan for this month and next two months if this month's isn't realized. This plan is huge and would reap some serious profit if realized.
Green pips to all!
Jason