Intraday Market Outlook for Day Traders
EUR/USD
A weak start brought the pair down to the present level of 1.2560 in European morning trading. Around these marks, we expect some recovery first, but not above 1.2595, from where we see renewed selling, leading to lows near 1.2500.
GBP/USD
Cable continues to act weaker in early European trading, quoted right now at 1.4955. We see the selling to ease for a while now, with recovery moves up to 1.4985. Fresh selling then could bring the market down today to below 1.4870.
USD/CHF
The stronger dollar in European morning trading is priced right now at 1.0665 against the Swiss franc, around the day's highs so far . We expect the bidding to pause soon, leaving some downward room for correction of the overbought situation, to levels slightly above 1.0625, from where fresh buying power could give the market another lift slightly above 1.0710.
USD/JPY
Asian trading hours today saw a stronger dollar against the yen, but the European morning market sold it, to 88.70 right now. We reckon with continuing selling today, down to marks around 88.20.
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