EURO and GBP recovered their lost ground yesterday towards close of US session as expected.They are expected to gain more .
Today during Japanese session EURO and GBP are expected to swing near high and dip towards close of the session to reach near low or cut the low nominally and rise quickly during European session.Mid european session they are expected to spike up.
During close of Europeaan session or gap time before US session or during start of US session (11:30 -14:00 GMT) a quick drop is expected as week end and month end volatile move and then rise big to close above high towards close of US session.
Monday they are expected to open with upward gap for the new month and then a profit booking move could be seen as week and month beginning false trend reversal move.
New month is expected to be a promising month for buy and sell traders in EURO and GBP.
USD/YEN is expected to rise alternatively with EURO and GBP during that time.Other denominator currencies - USD/CHF and USD/CAD are also expected to swing and rise during that time frame.AUD is expected to make wide range swings at higher levels.European crosses and YEN crosses are expected to swing and rise as profit booking moves of the players.
Trade with care without any bullish or bearish feel - market means wide range swings.Watch the intra-day trends and trade - buy near new low and book profit near new high using strategic trading - use hedging order to limit risk and once profit is seen in the position, use trailing stop and limit to lock the profit.
Regards
Dr.Sivaraman