We seem to have had a good day yesterday with some quick moves on the EUR as suspected. Our forecast was in the correct direction in the early hours of the market and then took off in the opposite direction. These fast moves came in after market had come out of the blue zones that we had drawn. One could say the forecast for yesterday was a 4 out of 7 with the EUR/USD, GBP/USD, USD/CHF and EUR/JPY behaving very close to what we had predicted. We could be in for some action on euro, British pound and the US dollar during the course of the day due to a few fueling fundamental items coming out. Today looks like we could see both the US dollar and Japanese yen strengthening. Adding one hedged pair to offset the trading risk.
Forecasts Outlook
US dollar: Strong
Today we're expecting the EUR/USD to proceed Long above the barrier levels of 1.37826 and 1.37591.
Fundamental Watch
- German Ifo Business Climate
- CPI y/y
- CB Consumer Confidence
- New Home Sales
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EUR/USD To Proceed Long Above Barrier Levels 1.37826 And 1.37591
Published 03/25/2014, 03:19 AM
Updated 05/14/2017, 06:45 AM
EUR/USD To Proceed Long Above Barrier Levels 1.37826 And 1.37591
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