UOB short-term trading recommendation: buy low, sell high throw Europe and America and Japan 119.85 hung empty

Updated: October 19, 2015  Views: 37

FX168 News US dollar against the yen, euro on Monday (October 19) Asian city held steady, stronger than expected US data the Federal Reserve (FED) rate hike before the end of the year remain.

USD / JPY fell to around 119.30, once as low as 119.15, due to the Japanese stock market opened sharply lower, but with the stock market to regain some of the decline in the dollar / yen also will restore the decline.

Analysts pointed out that the US and Japan in terms of data, there is no deal this week, the theme, so market participants will observe Japanese stocks as a guide to when the stock market fell, often able to gather to buy safe-haven yen interest.

Euro / dollar rose to 1.1370 line, fell 0.4 percent on Friday.

Earlier this week, the dollar against the yen after hitting a seven-week low of 118.065, the euro against the dollar rose to a seven-week high of 1.1495, due to poor US economic indicators and worries China's economic growth, weaken the Fed to raise interest rates before the end of the US Japan and the euro area monetary policy different, but also support the dollar.

United Overseas Bank Group (UOB Group) in short-term trading recommendation said the euro / dollar or continue range-bound pattern, so buy low sell high is more reasonable operation strategy, the dollar / yen can every rebound short.

The bank currency report, wrote:

Euro / dollar weak rebound before testing out the 1.1340 / 45 support line, and recorded a low of 1.1333.

While the euro / dollar bearish sentiment overall, suggesting that the dollar fell to 1.1320 does not exclude the possibility, but the current situation is limited risk of continued deep down. On Friday the exchange rate at 1.1395 / 00 line peaked, it also built a stubborn resistance.

Our point of view since last Friday for the euro is neutral and does not change the exchange rate will continue to fall 1.1300 / 1.1500 shock interval point of view.

US dollar / Japanese yen on Friday highs 119.65 / 70 seems to be the end of short-term rebound, if 119.00 integer bit cracked, it may further retracement towards 118.70 line.

We maintain our bearish dollar view, this also means that if the 118.70 line is broken, it may open up new downside.

The bank set up an empty one line 119.85, the target bit is set in 117.85.

EUR / USD USD / JPY 4-hour chart FX168 Financial Network production

14:39 GMT, the euro / dollar reported 1.1374, the dollar / yen 119.27 newspaper.


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