Dollar Versus Yen and Euro October 12th

FX Strategy Video > Currency Pairs Analysis

USD/JPY continues to grind away in the 78 vicinity. After forming a shooting star on Wednesday, the Thursday session saw a hammer formed that suggests we are going nowhere fast. Because of this, only selling straddles in the options market seems like a viable option.

The EUR/USD pair saw real strength as we bounced off of a trend line on Thursday. There is a lot of noise above, so we are cautious, but it certainly looks like the buyers are in control at the moment. As long as this trend line holds - you can only go long....

Published on 11th of October 2012
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