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Intraday Theme of the Day: Pound strength, Euro Weakness
By Sean Hyman | March 24, 2009
Most of the pound pairs are the biggest percentage gainers (especially GBP/JPY up 2.38% on the day or 339 pips).
The euro is what is weak across the board. It’s pairs are at the bottom of the list being the largest percentage losers on the day. EUR/GBP is the biggest loser on the day, down 1.59% or 148 pips. This negative momentum may appeal to the short seller of pairs.
Also, EUR/GBP embodies both themes of the day (euro weakness/pound strength).
Also worth noting is the weakness in the yen across the board too…which is pushing both GBP/JPY and USD/JPY higher on the day.
Sean Hyman
Tags: blog, dow, EUR, Euro, forex, forextrading, gbp, jpy, momentum, pair, pips, pound, Sean Hyman, USD, Yen
Topics: What To Look At In The Market |
March 24th, 2009 at 7:33 pm
thanks for the great info. i will use this tips on my next trading session.
March 24th, 2009 at 9:39 pm
Glad you found the post to be helpful to you. Thanks for posting.