candidates for this important week, EUR, AUD, JPY
EUR is about to cut interest rate.
AUD is in the pattern of bottom and shoulders.
JPY facing lazy W.
The US index is facing a option, if falls below 79, then will goto 76, or it will still be in range.
I believe what I see, not what I hear.
The Ukraine situation is getting worse, Putin is trying to occupy the Crimea by force, which causes the global market violate. Money starts rushing to safe heaven like CHF and JPY, the U.S 10 years bond’s price surges, the yield tumbled to 2.57% at the same time. This news is bad for the U.S dollars because it increases uncertainty to the recovery of American economy, especially the bad weather has caused big trouble for the economic data in the recent three months.
The winner is British pounds and the loser is Canadian looney. Winner still gains and the loser keeps losing.
In this week several big report will be released, including the Australian Bank interest rate, European Central Bank interest rate and the Britain bank interest rate. The market is expecting the ECB to rate cut, so we will watch that news, besides of this, the whole market is untradeable under the sideways quiet condition, it will keep oscillating unless US dollar index break 78 or 81.5.