Brenda Kelly, Head Analyst at London Capital Group, joined today’s Tip TV Finance Show, to discuss EUR/USD, GBP/USD, AUD/USD and the FTSE 100.
EUR/USD: ECB disappointment will see the single currency rally higher
With the key ECB meeting ahead, Kelly believes that any disappointment from Draghi will see a short squeeze in EUR/USD and see the cross rally higher.
GBP/USD: Trend is downwards
GBP/USD remains in a big downtrend since July, looking to test 1.50 levels and even 1.4950, says Kelly. She maintains a target at 1.4890, but believes that the fall would be slow and not immediately. She further prefers the cross to rally slightly higher before diving lower.
AUD/USD: Interest-rate play
AUD/USD remains an interest rate play, says Kelly. The Aussie has been resilient to the plunging iron-ore prices and might see a short-squeeze towards 0.72-0.73 area, where she prefers placing a strategic short and targeting 0.70 levels.
FTSE 100: Offered below 6450
Kelly maintains a negative bias on the equity market index while it remains below 6450, and further suggests selling any rally towards the mentioned levels.
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