Forex - Psychology/Strategy for major markets today

 05:42 (GMT) 12 Aug

  [Forex Strategy]

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Psychology/Strategy for major markets today (KYRC3701)

"Psycho" - psychology/strategy for major markets

* EUR/USD - a very familiar story. If the Central Bank buyers stand back we will see sub 1.40. In the meantime anything close to 1.43 looks a sell.

* USD/JPY - MoF/BoJ appear to be happy to let barrier defence do the intervening just now, but sub 76.00 would set the alarm bells ringing again.

* EUR/GBP, GBP/USD - cable bounces back through 1.6200 and lively price action will deter too much fresh commitment ahead of the weekend. We would expect another dip to .8700 to find buyers.

* DJIA and S&P - Market swings require a strong stomach, but corrective bounces are still underwhelming.

* T.BOND - Bulls take a knock on the jaw after a decrepit 30yr auction, but retain the underlying bid as equities remain volatile.

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