Good morning everyone! Hope all is well. Today also we could be in for some action on many currency pairs as it is day 2 of the G20 meetings. Their decisions/outcomes could affect many currencies across the board. There are two more fundamental watch items that could affect the US Dollar majorly, so all in all we could be in for some decent moves through the course of the day. We did have a good forecast yesterday with GBPUSD, USDCAD, USDCHF, NZDUSD and EURJPY performing to our expectations. That is 5 out of the 7 pairs that we had forecasted. US Dollar is a bit hard to read at the moment and on the other hand since Japanese Yen has already come out of our blue zone this morning, hence it may continue to weaken. Adding two hedged pairs to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Mixed Sentiments
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.38427 and 1.38703.
Fundamental Watch
- PPI m/m
- Prelim UoM Consumer Sentiment
- G20 Meetings
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