Yesterday USD showed some strength relative to most pairs, expect for trend reversal a possible corrective move with possibility of strong USD in NY session. A lot of fundamentals coming out today so market may end up to be choppy - Be Cautious
Outlook Relative Weak USD
French Flash Manufacturing PMI EUR 3:00 am ESt
German Flash Manufacturing PMI EUR 3:30 am EST
German Ifo Business Climate EUR 4:00 am EST
ECB President Draghi Speaks EUR 7:45 am EST
New Home Sales USD 10:00 am EST
BOC Monetary Policy Report CAD 10:30 am EST
BOC Press Conference CAD 11:15 am EST
FOMC Statement USD 2:15 pm EST
Awaiting Feedback !!!
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts
As you mentioned that the markets are going to be choppy today. So have you done the analysis purely on technical indicators, or have you also considered the news? For a better understanding can you explain what in particular you have taken into account and based your analysis on?
Analysis are mostly done on technical bases but fundamentals are need to be considered as they add volatility to market.
I will appreciate your guidance with regards to how you did this analysis.
Thanks for liking the analysis.
For analysis I look at correlation, support and resistance, Fibs , trend lines and candle formations.
I myself am trying to learn so if there is any thing in particular I will be more then happy to answer.
I would send you a message.