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Forex: Asian Session Recap & Ranges

Posted by Akhilesh Ganti on Jan 16, 2014 11:00:00 PM

A quiet start to the session as the majors remain content to oscillate within defined ranges. Yesterday's abysmal employment report coupled with China's apparent desire to restrict credit growth, which would have an effect on the antipodean economies, has the Aussie clearly on the defensive while the weak US employment data has tempered Dollar bulls a bit as traders wonder if the FED will continue with their outlined agenda for rescinding asset purchases. Factor in the issues that Japan and Europe face and one can understand the feeling of angst that is gripping the market right now.

Ranges:{WWM's New ALPHA Trader-DAILY charts [EUR,GBP,AUD,YEN,GOLD,OIL,WallStreet]}(click to enlarge)
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