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Gold recovers as yen hits lows Morning Report: 08.30 London
• This morning, gold is travelling well, with the precious metal up another 1.45% this morning. It still has some way to go to recoup recent losses, but it is making slow and steady progress.
•On FX markets, there’s a general ‘risk off’ tone to the morning’s trading with the Japanese yen selling off once again. The AUD/JPY is moving higher after gapping at the open.
• We have a light day on the economic data front, with US existing home sales due at 15.00 the only real highlight. span>
Bet Idea:
• The USD/JPY’s rise has been near relentless in recent weeks and months, but looking at the longer term chart, there are some strong indications that it has moved too far too quickly recently. There is certainly room for more upside, but pullback could be healthy here.
•Looking at the spread between the price and it Parabolic SAR level, the monthly chart is showing the biggest stretch since the late 1990s. The last two times it reached such extremes, intermediate term lows were reached.
Gold recovers as yen hits lows
Morning Report: 08.30 London
• This morning, gold is travelling well, with the precious metal up another 1.45% this morning. It still has some way to go to recoup recent losses, but it is making slow and steady progress.
Click here to view full-sized image
• On FX markets, there’s a general ‘risk off’ tone to the morning’s trading with the Japanese yen selling off once again. The AUD/JPY is moving higher after gapping at the open.
Click here to view full-sized image
Click here to view full-sized image
• Traditional risk on currency pairs such as the NZD/USD are also performing well.
Click here to view full-sized image
Coming up today:
• We have a light day on the economic data front, with US existing home sales due at 15.00 the only real highlight.
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Bet Idea:
• The USD/JPY’s rise has been near relentless in recent weeks and months, but looking at the longer term chart, there are some strong indications that it has moved too far too quickly recently. There is certainly room for more upside, but pullback could be healthy here.
Click here to view full-sized image
• Looking at the spread between the price and it Parabolic SAR level, the monthly chart is showing the biggest stretch since the late 1990s. The last two times it reached such extremes, intermediate term lows were reached.
• A ONE TOUCH trade predicting that the USD/JPY will touch 96.00 by the last trading day of May could return 126% if successful.
This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary
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