AUTOREFRESH 
ForexLive Asian market open: majors unchanged after event-free weekend
By Sean Lee || July 4, 2010 at 20:04 GMT
|| 7 comments || Add comment
There have been no major events over the weekend to influence the FX market and the major pairings have opened at their NY closing levels; EUR/USD 1.2555, cable 1.5200, USD/JPY 87.70 and USD/CHF 1.0640. Risk aversion is becoming a bit more ingrained in the market over the last week and I expect to see this continuing.
God luck today.
Ive never seen the euro rocket like it did last week in such a risk averse market. Whats your prediction for the euro, ive read a lot of analysis predicting 1.3000, I just dont see any solid fundamentals to back the move. Who would want to hold euros knowing that some of the banks are holding each others debt?
Hey Sean good morning to u. When u say risk aversion how do u see that playing out in pairs like gbp/usd & gbp/jpy? Thanks for the insight
Morning N. I think EUR/USD may have done enough of a retrace for the moment and will struggle to get above 12650 (though if it does then watch for more heavy stop loss buying).
Hi Stephen. It’s more AUD/JPY I’m looking at in this timezone for risk-averse plays and I think that will fall. GBP/JPY I haven’t been watching too closely but I think cable is close to topping out somewhere in 152/153 region and I definitely prefer shorts whilst the mkt is below 15550.
Hi Sean,
here for my daily AJ question, any idea what range we’ll be trading in?
cheers
T
Morning Travelkoen. Short term consolidation 73.50/74.20 before breaking lower later today to test 72.65- that’s my intraday guess.
Cheers, i was looking for the same thing but guess I needed someone to back me, thanks!