Zak Mir, technical analyst for shareprofits.com, and Alessio Rastani, independent market trader with leadingtrader.com, opened the show at Tip TV and discussed sterling, yen and some single stocks.
GBP/AUD and GBP/CAD trend to continue
Rastani began by noting the GBP’s current strength, alongside AUD and CAD extending weakness, he believes the trend will continue and it is best to stay long on the sterling crosses.
Japan QE to continue
Looking to Japan, Rastani noted that the Japanese yen will continue to get weaker in the long term as the government continue to print money. As a consequence, he can’t see any other direction for the Nikkei and Japanese stocks but continue to rise higher.