WorldBestPortfolio.com has released our analysis for 20 May 2010. Please read this post for more on our take on today’s market.
GBPAUD
GBPAUD broke out of its trading range at 1.6344 to 1.6660 2 days back and have now found resistance at 1.7327.
The most likely scenario here will see sellers returning, bringing GBPAUD back to the lows of 1.6350.
Should GBPAUD break above this significant resistance, we could see a unresisted climb up to 1.8300.
USDJPY
USDJPY has found selling momentum and should be heading to the support at 88.20. We’ll be looking for a long trade once the support is reached.
We could even see buying pressures come back at 90.00, however, we deem that as extremely unlikely dude to the momentum of selling today.
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