Weekly Forex Outlook
Written by Derek Frey on January 19, 2010 – 12:18 pm -This week is of course shortened due to the Martin Luther King Holiday. The market is still trying to digest the NFP report. We expect this process to ensue into the next NFP report. The market as a whole is hyper focused on this one
number and in the past when this has happened it has spelled trouble for the markets more often than not.
EUR/USD:
We continue to look for major rallies to sell into especially anything near the 1.45 handle.
GBP/USD:
This pair has yet to really break so caution is advised but we are looking to be sellers north of 1.64 this week.
USD/CHF:
This pair has bounced as we expected and, we are now looking for a pullback to buy into.
USD/JPY:
This pair is near the mid point of it’s medium term range and is therefore more riskier than usual. We are looking to buy major dips but we will be very patient with any Yen pairs this week.
USD/CAD:
This pair continues to wander and we continue to accumulate longs as close to parity as we can.
AUD/USD:
This pair remains a sell on major rallies as well. If you took the shorts near .93 as suggested last week make sure you move stops to at least breakeven.
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Posted in Forex Market Updates |
January 28th, 2010 at 4:29 pm
Again, thank you for your useful information!
Ivan.