I expect that we’ve seen all the volatility that we are going to see from the majors for this session at least and it really has been a case of lots of ups-and-downs but ultimately little change.
This type of volatility is only likely to increase over the next few weeks as the market gears up for the G20 so put your trading hats on, and make sure they are hard ones.
I’m looking to play wide ranges in the majors: EUR/USD 1.3750/1.4175, Cable 1.5750/1.6100 and AUD/USD .9800/1.0000. Sticking with the recent trend, the logical bias is to be short USD but it’s certainly hard to be long the AUD in particular at these lofty levels.
