Forex Forecasts for November 17

Published 11/17/2011, 06:26 AM
Updated 05/14/2017, 06:45 AM
Good morning everyone. Yesterday’s market was in-line with our forecasts and gave a decent gain for our traders. With yesterday’s market consolidation, there is a high chance of change of direction with respect to the US Dollar specially with the unemployment claims report coming out. Today, I’m expecting the US Dollar to weaken. Conservative traders, please stand aside today. I’m going to add USD/CHF to the hedged currency pairs list to offset the trading risk today.

Currency Outlook

US Dollar : Weak

Long : EUR/USD

Today we're expecting the EUR/USD to proceed Long above the barrier levels of 1.35354 and 1.34886.

Fundamental Watch
- Retail Sales m/m
- Building Permits
- Unemployment Claims
- Philly Fed Manufacturing Index

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