Good morning traders. 

Here are my thoughts/forecasts looking ahead over the next 12-24 hours.

Pay close attention to the blue text in these posts. While the focus of this post is for the next 12-24 hours, I always include (when applicable) where I see the longer-term price action heading.

Note:  the Intra-Day FX Forecasts highlight price direction and likely price targets/stops designed for traders looking at trading opportunities over the next several hours. These are not official trade recommendations, merely guidelines and forecasts, which are pretty darn useful each trading day.

Intra-Day FX Forecasts:

  • Dollar Index (DXC): Bullish from yesterday: looking for a move above 99.25 to get the upside momentum going again. With this level out of the way, prices now poised for 100.28+
  • USD/JPY: Bullish no change from Friday, this is the 'focus chart/chart of the day' as it says a lot about what is happening presently. Sure the S&P's have been selling off over last few days and DXC has struggled to continue higher. However, USD/JPY is not tracking lower despite the weaker S&P's. This to me suggests that overall we are in a correction and higher levels for USD/JPY, S&P 500 and DXC are forthcoming. Using 122.60 as the stop-loss with minimum upside target towards 124.44
  • EUR/USD: Bearish from Friday: the sideways chopfest continues but appears to be nearing conclusion. A clean break below 1.0750'ish opens the door towards 1.0650 and lower. This forecast was spot on but required patience. Next downside target(s) seen towards 1.0615 and 1.0525
  • AUD/NZD:  Bullish heading towards 1.1150 in hours/days to come
  • USD/CHF: Bullish from Friday/Monday: it is simply a matter of being patient. Yesterday's low at .9988 suggests the nasty and sloppy correction this week is now complete. Above 1.0050 should allow for prices to move higher towards 1.0150+ My overall view remains intact but it requires patience. Prices are holding above 1.0050 the former resistance level and now prices need to make a move above 1.0095 to kick into gear another leg higher. Upside targets met now looking towards 1.0213+

Have a question for me?  Drop me an email

Dave

Aspen Trading Group´s FX Commentary, including any content or information contained within it or Aspen Trading Group´s web site, any site-related service, is provided “as is”, with all faults, with no representations or warranties of any kind, either expressed or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose, and noninfringement. You assume total responsibility and risk for your use of Aspen Trading Group´s commentary/website, site-related services, and hyperlinked websites.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD holds above 0.6500 in thin trading

AUD/USD holds above 0.6500 in thin trading

The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.

AUD/USD News

EUR/USD comfortable below 1.0800 lower lows at sight

EUR/USD comfortable below 1.0800 lower lows at sight

The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.

EUR/USD News

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price finishes Thursday’s session set to reach new all-time highs

Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.

Gold News

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales

Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.

Read more

Bears have been standing before a steamroller so far this year

Bears have been standing before a steamroller so far this year

Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.

Read more

Majors

Cryptocurrencies

Signatures