EUR/USD To Proceed Short Below Barrier Levels 1.39217 And 1.39505
Forex Watchers | May 07, 2014 02:18AM ET
We seem to have had a bit of a turmoil on our forecast for yesterday! Only the GBP/USD and EUR/JPY performed close to our forecast, all the other pairs ended up going in the opposite direction. This was mainly due to US dollar weakening instead of strengthening as we had predicted. Today we could be in for some good moves on Canadian, US and Australian dollar pairs due to our fundamental watch. US Dollar could be looking at gathering some steam after the weak moves yesterday and Japanese yen might be on the weak side. Adding two 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 1.39217 and 1.39505.
Fundamental Watch
- Building Permits m/m
- Fed Chair Yellen Testifies
- Employment Change
- Unemployment Rate
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.