Good morning. Hope everyone had a great week end and are also looking forward to Thanksgiving this week! We seem to have had a good forecast for Friday with 4 out of the 7 pairs behaving as predicted. We were very close on the two Oceanic pairs, USDCAD and EURJPY, however had issues with EURUSD and USDCHF due to the sudden weakness in EUR and CHF. The US Dollar was more sidelined while the Yen gained some strength as predicted. We only have one fundamental item for today that could affect the Euro, so would be good to keep a close eye on this currency. Through the day both US Dollar and Japanese Yen could be weak. Adding two hedged pairs to offset the risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.23603 and 1.23910.
Fundamental Watch
– German Ifo Business Climate
Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. Urbanforex will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.<7p>
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.