I am opening this thread to provide my opinion on different popular assets and their movements. I keep my eye on both fundamentals and technicals.
Lets start with usd/jpy. An interesting thing at this time about usd/jpy is that all timeframes from 15 minutes upto weekly are giving bearish signal. I support PUT for 24-hour options.
Eur/usd started today's newyork session in strong bullish mood whereas I was expecting it to drop. I am still in favor of bearish eur/usd by the end of the day. The reason is, I cannot see any strong fundamental or technical data in favor of euro or against usd.
What do you think Ammeo about USD/CAD for the next week! There were some signs of upside movements. I read in a newsletter that a lot of hedge funds are betting for weaker Canadian Dollar. If there is such tendency it will be good idea to enter monthly calls.
Trading Aud/usd or USD/Cad is not that simple as it seems, becuase they both are commodity currencies. Plus, if u are using fundamentals to trade usd/cad, then u may get dodged by the market, because if some data for the U.S came out to be positive, then it does not necessarily mean that the pair would go upwards. It may head downwards, because that data might also be linked with the benefit of Canada, as both these economies share some aspects with each other.
The market is trading on the information, data and events. During the day on many web sites available data on the movement of commodity prices, crude oil, gold, foreign exchange rate. For each currency, there are strong and weak factors. Strong factors that influence positively or negatively on the currency index of retail prices, balance of payments, employment, gross domestic product, industrial production index, inflation, employment rates, consumer price index and Central Bank Governors decision on the level of interest rates. The U.S. dollar factors have a strong influence on the growth of the dollar relative to other currencies, the Federal Reserve says the governor and President Barack Obama's decision on the amount and interest rate. In the UK retail price index has a significant impact on the growth or decline in the pound exchange rate. Canadian dollar heavily depends on oil prices. Australian dollar depends on the natural resources of minerals and ores and report the balance of payments of China because China is the largest trading partner of Australia. Euro exchange rate a lot depends on the state of the economy in the euro zone. Any news from Greece, Portugal, Ireland, Spain, Cyprus and maybe very soon Slovenia make the big shocks that negatively impact on the euro.