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Trading Outlook – Neutral

Jarratt Davis
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Originally updated: 07:00

Trading Bias:

Currency pair:

Current Sentiment:

In today’s trading session we will be awaiting pullbacks on pairs to approach key entry levels to provide an opportunity to get into the market.


The overnight session was relatively subdued as the calendar and wires were light on market moving news. We will be looking for further weakness on the CHF pairs as we can expect the SNB to take some action on the EURCHF pair in line with their wishes to see the pair trade at 1.10. If we see the EURCHF pair rally and there is no fundamental news to support that we can look to the USDCHF pair which we can expect to see supported as the CHF will weaken across the board while the USD is currently the strongest currency.


Given the lack of immediate set ups available at this stage of the session the pairs and levels I will be looking out for that are in line with the fundamentals are;

Short – EURUSD around 1.0697
Long – USDJPY around 121.00
Long – USDCHF around 0.9960

As always keep an eye on intraday news that may affect the outlook on these positions, especially if selling JPY look out for any news that would cause a safe haven flow.

Other Market Moving News:

RBA Assistant Governor Christopher Kent said overnight that the fall in the AUD was starting to help the economy.

BoE’s McCafferty (soft hawk) said that CPI will not be close to the mandated 2% inflation goal this year and will be nearer to 0% next month.

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