Tuesday, August 10, 2010
Varudu heroine Bhanu Mehra
Intraday Market Outlook for Day Traders
Starting the week in very low volatility during all of Asian trading hours today, the pair continues to consolidate its higher levels in the European morning and is currently at 1.3265. We do not expect much activity today but a slight bidding tone, bringing the market up to levels around 1.3325.
Cable is trading right now at the lower end of its trading band in the European morning, at 1.5950. We see the downside risk limited at 1.5925 for today, from where some recovery moves could set in, up to 1.5985.
The slighty stronger dollar this European morning is currently trading at 1.0402 against the Swiss franc. We see this market losing some minor ground today, to the 1.0345 mark.
The dollar gained a little territory against the yen in thin Asian market hours today, priced right now at 85.60 in early European trading. We expect down moves, to levels around 85.30.