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The pair’s trading between the retested levels at 1.2770 and 61.8% Fibonacci levels at 1.2830 and it found difficulty in breaching due to the negative sings appearing on the four-hour chart momentum indicator. Volatility is projected that might witness another touch for 1.2770 levels before the pair extend the bullish

The pair’s trading between the retested levels at 1.2770 and 61.8% Fibonacci levels at 1.2830 and it found difficulty in breaching due to the negative sings appearing on the four-hour chart momentum indicator. Volatility is projected that might witness another touch for 1.2770 levels before the pair extend the bullish

ECB WELLINK

 *Yen strength helpful but not totally positive
*Don’t see a ‘double dip’ recession in europe
*Germany, north EMU countries doing well, should spread
*Greece is ‘on track’ with deficit reduction program
*EU growth back on track, shouldn’t continue stimulus
*At certain moment’ should normalize monetary policy
*Should normalize or are building probs for 2-3 years time
*3Q should be okay for europe; some slowing on inventories
*The U.S. is the weak spot in the global picture
*Some china slowdown welcome versus overheating risk

ECB WELLINK

 *Yen strength helpful but not totally positive
*Don’t see a ‘double dip’ recession in europe
*Germany, north EMU countries doing well, should spread
*Greece is ‘on track’ with deficit reduction program
*EU growth back on track, shouldn’t continue stimulus
*At certain moment’ should normalize monetary policy
*Should normalize or are building probs for 2-3 years time
*3Q should be okay for europe; some slowing on inventories
*The U.S. is the weak spot in the global picture
*Some china slowdown welcome versus overheating risk

The GBP/JPY pair is still building a base to be able to breach the key resistance of 130.50 and whilst the uptrend line which carries the upside momentum still hold. Consequently, we keep our proposed bullish outlook over intraday basis, supported by the suggested Elliott count.

The GBP/JPY pair is still building a base to be able to breach the key resistance of 130.50 and whilst the uptrend line which carries the upside momentum still hold. Consequently, we keep our proposed bullish outlook over intraday basis, supported by the suggested Elliott count.

The estimated test of key resistance range levels for implementation of the pre-planned sales has not accurately been confirmed, however, the result of activity parity of both parties, suggests tiny correction to earlier designed trading plans. Namely, we can assume probability of rate return to 1,0180/1,0200 levels, where it is

The estimated test of key resistance range levels for implementation of the pre-planned sales has not accurately been confirmed, however, the result of activity parity of both parties, suggests tiny correction to earlier designed trading plans. Namely, we can assume probability of rate return to 1,0180/1,0200 levels, where it is

The markets have been trading in a rather tight range this morning, unsurprisingly considering the all important US non-farm payrolls number is to be released later in the day. Asian equities are largely tilting towards the green this morning as a combination of better than expected data from the US

After the release of manufacturing data for the month of August earlier this week, the euro zone and UK will release services figures today to give a complete picture about the status of the economy in the third quarter.