Here are some suggestions for traders, planning to be active during foreign exchange market activities on Thursday. Although the market is not very active these days due to official holiday in Asia, there are many trades providing possibility for good income.
Euro: Traders should react, if the euro consecutively closes above, as it is usually done. The level of 1.3430 is the one which should receive attention from traders.
British Pound of Sterling: According to trades made yesterday, it is likely that the market is bottom-forming. Set 1.4220 as a stop loss and await for it. The stop can be moved up as soon as the month is over.
Australian Dollar: 0.6950 should be expected as a stop.
Japanese Yen: At closing of trades yesterday, the Yen showed 98.00 level of resistance, meaning that 97.20 were short. Today it is better to exit having small short in order to have smaller losses.
Currency pairs
British pound versus Japanese Yen: A perfect sign of reaching a bottom was the bullish reversal, observed yesterday. Stop should be placed at level 14.2400 today.
Euro versus the Japanese Yen. It is better to observe this pair of currencies today to see how market reacts to different information and how it influences rates of both currencies.
Gold: The level of gold is slaying at the lowest high. Short level is suggested at 905.