Aug12 – Market Analysis

Equity markets have been fairly stable.  Oil and Gold too.

FX Markets: Momentum has changed on several pairs: GBPCHF and EURGBP has changed in favour of GBP. EURAUD has changed in favour of AUD. USDJPY has changed in favour of JPY.

EUR and CHF continue to be the strong ranks, with AUD being the weak one.  Interestingly neither EURAUD or AUDCHF have a valid S1 setup – well AUDCHF has a S1 setup but the momentum might be changing.

Again, quite a few news items coming in this week, particularly from GBP.

No new orders to enter into the market.

 Questions for the coach:

How do I handle situations where Yen now has 5 points on the daily scale, but is still weak on the Weekly scale?  Interestingly the momentum is actually never firmly in Yen’s favor.

 

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