AUTOREFRESH 
ForexLive Asian market wrap: Risk trades fall again
- Nikkei falls below 9000 for first time in 18 months
- EUR/JPY falls below this year’s low at 107.30
- Australia no closer to having new Government
The only significant developments have been in the equity market, where the Nikkei fell by 1% and this has of course influenced trade in the JPY crosses.
EUR/JPY opened around 107.80 but stops below 107.30 were never far away from dealers minds. Decent sized buying in the EUR/USD at 1.2640 and in the USD/JPY at 85.00, made the going slow but the stops were eventually done before the inevitable and immediate bounce. Ranges: EUR/JPY 107.24/81, USD/JPY 84.95/85.20
EUR/USD fell along with the EUR/JPY but managed to limit its losses as good sized bids entered the market. EUR/GBP even managed a decent 35 pip rally on the session. Ranges: EUR/USD 1.2621/59, EUR/CHF 1.3154/78
Cable came in for some quite heavy selling as stops below 1.5460 were triggered. There were also rumours of bearish GBP articles in the UK press but I haven’t been able to find them. Ranges: Cable 1.5425/1.5513, EUR/GBP .8152/88
The AUD/USD fell in line with the other risk trades and the on-going political uncertainty didn’t help. Potash asked BHP to increase it’s bid. Ranges: AUD/USD .8868/.8908
Markets: Nikkei -1.0%, All Ords -0.7%, Kospi and HK flat. Gold -$2 at $1223/oz.
hello there,
I’m a student in university currently doing finance. I’m participating in a forex contest and i’m losing now.
I’m new in this area and i still don’t understand how the forex market works.
Could you please give me a guideline to show me how to analysis it?
Thank you.
Mike