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Published on Aug 24, 2016
The
Euro fell significantly during the course of the session on Wednesday,
as we continue to see quite a bit of volatility. Ultimately, I believe
that this is a market that will continue to chop around overall.
However, I do recognize that the 1.12 level below should be a bit of a
“floor” in this market, so a supportive candle below should be a nice
buying opportunity. I think that the 1.1350 level will of course offer
quite a bit of resistance as well, so at this point in time it’s going
to be difficult to make quite a bit of a move for any real distance,
because we are in the middle of the high vacation season. With that,
expect a lot of noise and quite frankly don’t want to be bothered.
USD/JPY and NZD/USD Forecast
Published on Aug 24, 2016
The
USD/JPY pair went back and forth during the course of the session on
Wednesday, testing the 100 level at one point. This is an area that I
believe is a “line in the sand” when it comes to the Bank of Japan. With
that being the case, it makes sense that the market will continue to
bounce off of this region. After all, this is a market that has to worry
about central bank intervention, quantitative easing, and of course
possible jawboning of the Japanese yen. With this being the case, I
think we could get short-term bounces from time to time, and that’s
exactly how I’m plane this market, short-term gains.
Eur usd pair was the most celebrated and typical pair in 2017, like you can see from the beginning of 2018 this pair is in bullish trend like the breakout in the support level was established at 1.2297 – 1.2237, but we need to keep our eyes focused at EUR USD because of the political movements. Lets see what the market suggest about Eur Usd forecast
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