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Forex Forecast August 9th, 2017

News Review

Let’s start by reviewing our Forex economic calendar HERE,  today we have 3 reports from the USA that we are paying attention to, Unit labor cost, Nonfarm productivity and EIA Crude Oil Stocks Exchange. These 3 reports can move the market a bit, we don’t expect explosive moves but enough to catch some pips.

Chart Review

When we review our Forex charts HERE, yesterday we talked about DXY possibly retesting 93 and closing out the small gap, that didn’t happen and we instead had some bullish move. The gap will be closed out but the question is when right now we have a setup that supports a higher push for DXY (bullish), however, we don’t have a break above

The gap will be closed out but the question is when, right now we have a setup that supports a higher push for DXY (bullish), however, we don’t have a break above the previous high. Looking at this at a lower time frame we can see that it may take another run down to 93.35 today, we have to wait and see before we jump in.

On EUR/USD we see that it is testing support from 2015, we believe we will see a penetration of the support level because of how DXY is lined up, we are waiting to see what happens here before we take another trade. We took a short position yesterday and we are still in profit but we are playing with tight stop losses.

Review our charts and follow them accordingly.

Play it careful and enjoy.

DXY Forex Forecast August 9th, 2017. Trading signals with http://www.myownforex.guru/forex-signal-options/. Sign up for copy trader

DXY Forex Forecast August 9th, 2017. Trading signals with http://www.myownforex.guru/forex-signal-options/. Sign up for copy trader

EUR/USD Forex Forecast August 9th, 2017. Trading signals with http://www.myownforex.guru/forex-signal-options/. Sign up for copy trader

EUR/USD Forex Forecast August 9th, 2017. Trading signals with http://www.myownforex.guru/forex-signal-options/. Sign up for copy trader

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News Review Let’s start by reviewing our Forex economic calendar HERE,  today we have 3 reports from the USA that we are paying attention to, Unit labor cost, Nonfarm productivity and EIA Crude Oil Stocks Exchange. These 3 reports can move the market a bit, we don't expect explosive moves but enough to catch some pips. Chart Review When we review our Forex charts HERE, yesterday we talked about DXY possibly retesting 93 and closing out the small gap, that didn't happen and we instead had some bullish move. The gap will be closed out but the question is when right now we…

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About Chris

Chris Wittusen started trading in early 90's, mainly in stocks but is now mainly trading in Forex (currency trading). He also manage a successful Forex group on Facebook, where he shares his knowledge to other people that want to learn more about how to trade in Forex. His technique still applies to both Forex and Stocks due to his style of naked chart trading along with box trading.
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