Euro and US Dollar Breakouts May Be Imminent on Indecisive Forex Sentiment
Posted 06-03-2010 at 12:17 PM by DailyFX
EURUSD Euro Forecast Unclear, Major Breakout Imminent
GBPUSD British Pound Outlook Turns Mixed on Sentiment
USDJPY Japanese Yens Next Move is Key
USDCHF Swiss Franc Expected to Weaken Further
USDCAD Canadian Dollar Forecast Calls for Gains
GBPJPY British Pound Forecast Turns Bullish Against Yen
Sharply indecisive forex market price action has left currency trader sentiment on the Euro and US Dollar effectively neutral, warning that a return to volatility could force substantial moves in either direction through short-term trading. We have seen the EURUSD pair consolidate in an increasingly narrow range, and a neutral Speculative Sentiment Index ratio gives few clues on its next move. Yet such slowdowns in volatility are quite often met with substantial breakouts through subsequent price action. It will be critical to watch the next moves in major US Dollar pairs, and in the meantime traders should keep risk on trades relatively tight given the possibility of a spike in volatility.
GBPUSD British Pound Outlook Turns Mixed on Sentiment
USDJPY Japanese Yens Next Move is Key
USDCHF Swiss Franc Expected to Weaken Further
USDCAD Canadian Dollar Forecast Calls for Gains
GBPJPY British Pound Forecast Turns Bullish Against Yen
Sharply indecisive forex market price action has left currency trader sentiment on the Euro and US Dollar effectively neutral, warning that a return to volatility could force substantial moves in either direction through short-term trading. We have seen the EURUSD pair consolidate in an increasingly narrow range, and a neutral Speculative Sentiment Index ratio gives few clues on its next move. Yet such slowdowns in volatility are quite often met with substantial breakouts through subsequent price action. It will be critical to watch the next moves in major US Dollar pairs, and in the meantime traders should keep risk on trades relatively tight given the possibility of a spike in volatility.
Total Comments 0
Comments
Total Trackbacks 0
