Good morning! Hope all is well. Yesterday’s forecast was on the border with approximately 4 pairs out of the 7 moving in the directions that we had predicted and then markets turned around (EURUSD, GBPUSD, USDCAD and USDCHF). USDCAD was pretty close where markets came very very close to our supply area and took off south. The discrepancy was due to US Dollar strengthening instead of weakening as we had thought. Today the pairs to keep an eye out on would be Euro, Canadian and US Dollar currency pairs due to our fundamental watch. We could be in for both a weak US Dollar and a Japanese Yen. Adding two hedged pairs to offset the trading risk. Happy Trading!
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EURUSD to proceed Long above the barrier levels of 1.36290 and 1.36595.
Fundamental Watch
- German Ifo Business Climate
- Core CPI m/m
- New Home Sales
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