Hi All,
Been quite a long time since i updated this blog... I am a crazy fan of a sport called cricket (most Indians are crazy about it). There was a world cup going on and i was busy watching that. We have won it and now i am back to full time trading/tweeting and blogging...
So the Euro and Pound continue to range trade though the yen crosses have finally broken through their ranges. Wait for a retrace on the yen crosses for atleast 150-200 pips and enter with a big SL for a huge profit in the coming weeks/months. This is assuming that you are a swing trader.
As for the Euro, i expect it to break 1.4280 sometime this week and the region around 1.4450-1.46 would be crucial. I suspect that we might see a deep correction in the euro from those levels (about 400-500 pips).
For today, expect some range trading and i suspect a down day today. A drop of 100 pips is possible on the euro and the pound and if that happens, we can expect the rest of the week to be bullish.
These are just opinions of mine. Trade with caution.
