Currencies Weekly Forecast

The folowing is an excerpt from O&F News & Views weekly newsletter.


EUR/USD: The Euro continued to trend lower most of the week but it looks like Thursday’s low was a turning point. I would like to see a move back above 120 before I get too excited about the long side again, but for now I am long with stops below Thursday’s low.
USD/CHF: So far I am still on the side lines here but I continue to be looking for a short entry point. I do not think we will see a move above 132 near term so I will be getting short next week with stops just above 132.
GBP/USD: Went long late in the week at about 174 with current stops just below 173.50
USD/JPY: The yen seems unsure of itself right now. I have a slight bias to the upside but for now I am buying near 117 and selling near 119 as this has been the range now for all of this month.
AUD/USD: The Ausi seems to have found a bottom and I will be going long here next week with stops below todays low.
USD/CAD: Still long from 115 with stops working at 114.88.
Derek Frey
Head Trader
Odom & Frey Futures & Options
1-866-636-6378
www.odomandfrey.com
derek@odomandfrey.com
Risk Disclaimer
Past performance is not indicative of future results. Trading futures and options is not suitable for everyone. There is a substantial risk of loss in trading futures and options.

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