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We are still holding long EURUSD since 1.5480 and we expect it will continue to move north with target at least 1.5900. Todays German IFO should provide good buying opportunity if the news come out lower than expected and continue bullish momentum if IFO better than expected.
Please take note that rising gold and oil will continue to weight on dollar. Moreover, the headline from US such as housing and employment weakness will further strengthen dollar bearishness.
Choppy price action will continue to dominate the market while any downmove should provide better opportunity for trader to add long position for major pair
Good luck in your trade
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We wish we are right. Yes, we are 90% sure that yen is going to gain strength from now on. Reason? More and more corporate earning miss estimate off late and that will bring Yen cross proxy ie S&P and DOW down. Good opportunity for medium to long term trader to book few hundreds / thousands pips.
We are selling EUR/JPY at current level ( 164.50 with no SL and TP at the time being )
Wish u big luck in your trading!
We are watching very closely USDCAD today after sharp rebound during NFP. The pair currently sit on 50% retracement around 0.9950 and forming double top on 1hr and 4hrs chart. A break above 1.000 will lead to further strengthen on USDCAD. If fail to break the 1.0000, we forecast it will test pre-nfp low around 0.9735.
Good Luck
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