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Published on Sep 9, 2016
The
Euro fell during the course of the day on Friday, slamming into the
1.12 level. This would have been a continuation of the negativity that
had popped into the market on Thursday after the ECB suggested that
ultra-loose monetary policy was going to be the norm. With this, we
tested the first major supportive area, and as a result it looks likely
that we will continue to see quite a bit of volatility, if not some type
of choppy type of situation. Ultimately, I think that we will probably
try to reach towards the 1.11 handle, but it might take some time to get
there due to all the noise I see just below. Ultimately, rallies at
this point in time should a bit untrustworthy, so signs of exhaustion
would have me selling but I do recognize that this is going to be a lot
of back and forth trading.
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USD/JPY and NZD/USD Forecast
Published on Sep 9, 2016
The
USD/JPY pair went back and forth during the course of the session on
Friday, as we continue to see buying opportunities in this market. I
believe that the Bank of Japan will continue to push this pair higher
given enough time, either due to the Bank of Japan getting involved, or
just a simple fact that traders continue to prefer the US dollar over
most currencies. However, this is obviously a bit different when it
comes to the Japanese yen as it is considered to be an even “safer”
currency than the US dollar. The market should reach towards the 105
level given enough time, but I think it could be rather choppy. I’m not
looking for a straight shot higher, just simply a grind towards that
direction.
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