Home - Blog - Forex Forecast June 29th 2016

Forex Forecast June 29th 2016

Good morning, yesterday we had another good day, a bit slow but OK. We are looking for new opportunities today by reviewing our economic calendar HERE, we see that there are several medium news events from USA today and later today some from Japan.

Let’s review what is happening with USDX (dollar index) HERE to see if we can’t find the right timing for an entry. We see that USDX was moving sideways yesterday, stuck in a consolidation zone (equilibrium), that means it is building volume which indicates a big move coming. That would of course be the non farm payroll report on Friday. We see the same thing on EUR/USD so be careful taking your trades, we still believe that there is a further drop down on USDX and a move up for EUR/USD as we stated yesterday, June 28th, 2016. This would indicate that non farm payroll report will not meet expectations.

We take a quick look at CAD/JPY as well, we see that Brexit caused it to drop to a new low, it was already exhausted before Brexit, it is completely exhausted right now. We are still bullish on CAD/JPY and we are still aiming for the liquidity zones that we stated on June 21st, 2016

Happy trading, trade smart, trade another day

USDX Forex Forecast June 29th 2016

USDX Forex Forecast June 29th 2016

CAD/JPY Forex Forecast June 29th 2016

CAD/JPY Forex Forecast June 29th 2016

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.
Loading Facebook Comments ...

Leave a Reply