We have had a moderate forecast for yesterday with 4 out of the 7 pairs behaving as predicted. This was mainly due to the dollar and yen going in the opposite direction to the strength and weakness that we had thought possible. Basically the dollar weakened instead of strengthening while Japanese Yen was more sidelined but had a little strength. British pound, dollar and euro are on our watchlist today due to the fundamental watch. For today we could be looking at a weak dollar while the Yen may gather some steam. Not adding any hedged pairs to offset the trading risk.
Forecasts Outlook
US Dollar: Weak
Today we're expecting the EUR/USD to proceed Long above the barrier levels of 1.25942 and 1.26286.
Fundamental Watch
– Construction PMI
– Minimum Bid Rate
– ECB Press Conference
– Unemployment Claims