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USD Gaining Momentum Against Weakening JPY

Published 08/21/2013, 04:47 AM
Updated 05/14/2017, 06:45 AM
EUR/USD
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Monday’s forecast went in our direction for the most part. There were a few issues with the oceanic pairs as they seems to have broken out of range and picked a new direction. At the moment the dollar is hard to ready as it is out of sync and still has not picked a direction. Overall US dollar has been weak for sometime but has been gaining some steam against a few pairs. The Japanese yen is looking like it is turning from a strong position to a weak one on the long run. Today the US dollar could strengthen and presently the yen is a bit hard to read. Not adding any hedged pairs to offset the trading risk.

Forecasts Outlook:

US Dollar : Strong

Today we're expecting the EUR/USD to proceed Short below the barrier levels of 1.34192 and 1.34449.

Fundamental Watcc:
Existing Home Sales
FOMC Meeting Minutes
HSBC Flash Manufacturing PMI
EURUSD

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