Forex Market News:
Not a great deal going on out there in the forex market this afternoon as Asia prepares to head off for the weekend and Europe downs its first coffee for the day as it wipes the sleep away from its eyes and wonders what it will do today.
Given the weakness in the equity markets overnight in the US, i think we could see Europe test the recent lows in the EUR/USD, GBP/USD and the AUD/USD with EUR/JPY also likely to drift back towards todays lows aroud the 123.75 region where i mentioned earlier i thought it was worth a buy. The story is much the same for the AUD/USD and the Cable as i would be looking to buy both on dips below 0.6400 and 1.4200 respectively for moves back to 0.6650 and 1.4450.
Still plenty of talk about that HUGE Asian name that is treating the AUD/USD like its own personal play thing at present, but when this ends this week i would expect a move higher in the AUD/USD.
