10.00 GMT, Yesterday the dollar was weaker against major currency due to stock index hovering in the positive territory. In US, The bailout of the big 3 of automotive industry is the issue in this week. The possibility that the bailout approved by the Congress is getting bigger and it made investors going back to stock markets at the beginning of this week.
Today we see the dollar is stronger against GBP and EUR. It seems to anticipate the grim look on economic indicator of the British and European country.
Let's take a look one by one:
On GBP/USD: There is a support at 1.4720. If it holds, the price will stay at 1.4800 territory. But it is still strong dollar issue. If 1.4720 breaks, GBP/USD will head to 1.4500 territory again.
On USD/JPY: Looking at 4H Chart, the trend is bearish for USD/JPY. The slowdown in global economy causes unwinding carry trades. USD/JPY might reach 90.00 figures and it's possible going under that.
Ok folks, c ya next time,,thanks for reading
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