Today the day, when i an give recommendation without indicators – take a rest. Yes, again.
It’s simple. Today expiration of futures. In tuesday wednesday will be Fed’s meetings. And in wednesday Bernanke say something about QE. So, i think you understand why better look at this from other side, or rest on the beach till wednesday :).
Pound still in middle-term buy tendency. And area where will be “decide” where to go next is 1.55-1.56. At this moment i don’t see symptoms of sell.
New futures contract accumulate very weak, don’t see sentiment of players.
I don’t like to discuss about fundament. But in last time many questions about this. So.. i don’t specialist in fundament, but i have some thoughts. And i think that Bernanke don’t want to finish QE while he is a head of Fed. But and continue also became harder. And considering that till his retirement left very small time, we can hear nothing clear in wednesday. Likely we don’t hear some decision about QE. On second place in my top – that QE will continue till new year. And the smallest probability – that QE will finished.
Where will go market in these cases? I think nobody knows. Even themselves – this is the top of global manipulation machine
So, till wednesday i will only watch. Pound in good profit, canadian also. NZD 240 pips. Only Australian in drawdown, but also starts to grow. Will wait – maybe will come to our target 0.9800 – 1.0000.
My recommendation, wait till wednesday and don’t risk.