EUR/USD Forecast: September 19, 2013
Forex Watchers | Sep 19, 2013 02:34AM ET
Wednesday’s forecast had a bit of a turmoil due to a strong US dollar move. Only the USD/CAD, AUD/USD, and NZD/USD behaved close to what we had thought possible. As we had expected, the US dollar did not strengthen, but became very weak at a very fast space. This puts us in new territory and would mean the Dollar will continue to weaken. The Japanese yen has also been on a weak spell and there could be a hint of a strong spell coming in the weeks to come. Today we are going to take a strong outlook on the US dollar and the Japanese yen. However, we may not have the strength to reach all the way to our blue zones considering the strong moves that we have had yesterday. Not adding a hedged pair 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 1.33354 and 1.33652.
Fundamental Watch
- BOJ Gov Kuroda Speaks
- Libor Rate
- SNB Monetary Policy Assessment
- Retail Sales m/m
- Unemployment Claims
- Existing Home Sales
- Philly Fed Manufacturing Index
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