American data of GDP and initial unemployment claims published yesterday supported USDX in short-term but not strong enough to make dollar bullish. The Non-farm employment next Friday will increase fluctuation in short-term because of uncertainty of USDX.
Chinese investors will be absent first week of October due to one week’s vocation for Chinese National Day. The absence of Chinese investors will decrease fluctuations in Asia time.
Today, multi countries and regions will publish certain important economic data which could cause a magnificent fluctuation in short-term. We should still keep on observing quotation of GOLD. Possible Short trading opportunities of USD/JPY and NZD/USD will occur toady, so we can pay certain attention to these two varieties.
Japanese Yen devalued substantially yesterday and was suppressed by weekly downward trend line to form a small positive line with a long upper shadow line indicating a strong suppression of 102. We could focus on the following Short trading opportunity of USD/JPY once the price declines below area of 101. The short-term profit position will be area of 95.9-100.
The price of NZD/USD declined rapidly in American time last night forming a large negative line in daily chart indicating a possible Short today. We can pay attention to a possible Short trading opportunity if the price can run below area of 38.2% of Fibonacci lines of weekly downward tendency since July 2014.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.