The Week Ahead

EUR/USD: Still eyeing the 1.2740 before considering a bottom

The week comes to an end with the EUR/USD trading at its lowest level since June last year, having been pretty much falling steadily since posting a high around 1.3700 early July: the weekly chart shows one red candle after the other, with some small consolidations in between.

Vicki Schmelzer: Dollar correction is coming; USD/JPY's pullback at 110.00

MNI's Senior FX Reporter Vicki Schmelzer @MNIEyeOnFX says Dollar rally long in the tooth concurs with Dale on correction coming. Schmelzer points that USD/CAD favors move to 1.0800 and even 1.0750. She sees thr USD/JPY at 110.00 primed for a pullback.

Be Ready: The party is over, let's focus back in United States rates

What a week we had! Not sure where to start, yet can we agree that nothing was outstandingly dollar bullish? Yet the greenback trades at multi−month/years highs against most of its rivals. If that does not tell you something, I'm not sure what will.

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Dollar gains seen limited: Pound the strongest, Yen the weakest

Pair Average levels
1 Week 1 Month 1 Quarter
EURUSD 1.2888 1.2884 1.2807
GBPUSD 1.6468 1.6453 1.6541
USDJPY 108.09 107.82 108.63
USDCHF 0.9338 0.9412 0.9504
AUDUSD 0.8987 0.8969 0.8937
Pair Average levels
1 Week 1 Month 1 Quarter
USDCAD 1.0972 1.1042 1.1148
NZDUSD 0.8204 0.8363 0.8228
GBPJPY 177.62 179.03 180.75
EURJPY 139.71 139.95 141.29
EURGBP 0.7841 0.7821 0.7729

EUR/USD: a bottom nearby? Despite trading at the year low, sentiment is not as negative as suspected, with bulls among banks pointing for a recovery above 1.3000.

GBP/USD downside limited on self strength: Pound is seen mildly higher against the greenback, with focus back on who will raise rate first.

USD/JPY bearish, but not that much: the pair presents a quite mixed outlook, with banks more inclined to a strong retracement towards 102.00.

AUD/USD still no clear picture: for second week in a row, market can’t made up its mind on what to do with Aussie, leaving a neutral outlook both short and midterm.

EUR/JPY slowly turning bullish: yen weakness is still seen leading the way in the pair, with gains expected now beyond 140.00 critical resistance.

Forex Live Analysis Room with Dale Pinkert

From Traders to Traders in Live Analysis

Busy week in the Live Analysis Room with all events covered in real time. Trading and Interviews: Jared Johnson: EUR/USD to 1.3100; USDCAD constructive to 1.11/1.12; and Alan Hall: What means a bull market in society?.

Jared Johnson @daytradersfx

Alan Hall @socionomics

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