EUR/USD To Proceed Short Below Barrier Levels 1.36607 And 1.36309

Published 06/02/2014, 02:06 AM
Updated 05/14/2017, 06:45 AM

End of a months and looking forward to a new month ahead! We seem to have a had a moderate forecast for Friday with 4 out of the 7 pairs conforming to our forecast. The GBP/USD, USD/CAD, AUD/USD and EUR/JPY behaved as we had thought. Straight off the bat we could be in for some action today with many fundamental news items coming out that could affect the euro, British pound, US dollar and Australian dollar pairs. It is a bank holiday in New Zealand so we could be seeing a slow NZ dollar. Today we could be in for a weak US dollar together with Japanese yen. Adding two hedged pairs to offset the trading risk.

Forecasts Outlook
US Dollar: Weak

Today we're expecting the EUR/USD to proceed Short below the barrier levels of 1.36607 and 1.36309.

Fundamental Watch
- German Prelim CPI m/m
- Manufacturing PMI
- ISM Manufacturing PMI
- Non-Manufacturing PMI
- Retail Sales m/m

EUR/USD Chart

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