Weekly Forex Outlook

We had a Great start this year!  Inner Circle subscribers made 542 pips last month due to the trade calls we made!   This week we expect to see the markets continue to react to the slew of data points we saw last week. We are looking for the Dollar strength we have enjoyed to stall for a bit and even pullback some. We are trading both the short term counter trend as well as looking to accumulate long Dollars on this dip.

EUR/USD:
W have now seen this pair fall to support near the 1.3850 level. Near term we expect those lows to hold and we are buyers of dips towards that level. We are looking for a brief rally back above the 1.40 handle at which point we expect to flip these trades around yet again.

GBP/USD:
The cable is also a buy on major dips near the 1.59 level. We are looking for a rally here back towards the 1.61 level.

USD/CHF:
This pair saw a larger short squeeze than expected but remains a sell near 1.06.

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. Same comments as last week as it still holds true.

USD/CAD:
This pair is doing it’s traditional manic depressive dance but here too we remain sellers of rallies near term.

AUD/USD:
The Aussi is attractive from the long side below .88 at this time. We are looking for a bounce back to at least .90.

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Tags: derek frey, forex inner circle, forex mentor
Posted in Forex Market Updates |

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