Steven Woodcock, Senior Market Analyst at Plutus FX, joined Tip Tv today to give the outlook for Forex majors.
USD/JPY: Sell a rally, Buy a dip
Woodcock maintains his long-term target for the pair at 140-145. He further sees a possibility of a short-term pullback on the pair towards 121-121.50 area, but suggests buying any dips towards these levels.
EUR/USD – Play the range
Woodcock suggests to play the range for EUR/USD, and further gives the key levels ahead for the pair.
USD/CAD: No end to CAD weakness
USD/CAD maintains its trend after moving higher. Woodcock sees no end to CAD weakness as Oil struggles to rally. He further maintains an upside target for the cross at 1.33.
GBP/USD: No direction
GBP/USD is going nowhere, according to Woodcock. The cross currently remains in a range, but is going to come off its highs, Woodcock believes.
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