Greetings and welcome back.
The EUR/USD retraced back to just above the 1.4600 area and is now potentially back up on the rise - although trading cautiously as we approach the upcoming FOMC announcement.
Technically speaking, look for the pair to potentially hit the 1.4775 - 1.4850 area. It looks as if the pair has potentially completed a nice 3 wave retracement so we’ll see how the news effects this currency pair and if it will push the EUR/USD up.
Good luck with your trading and we’ll see everyone again shortly.
If you’re going to be trading the FOMC announcement on Wednesday, be sure to join FX Street’s Jerry Furst for his live webinar during the announcement. Click here for more information.
Cheers.
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Hi Ross,
I read your blog everyday; you have made a great forecast in EUR/USD. Would you please give some forecast on USD/CAD as well? I’m a following this pair very closely.
Thanks again,
David P.
Hi David,
Thanks for submitting in your comment and request. Here is our outlook on the USD/CAD. As mentioned in the post, we’ll also put out an analysis on this pair sometime next week after the NFP (after the market has settled down so maybe sometime mid-next week).
Good luck and thanks again for the comment. Please let me know if you’d like to see anything else.
Take care.
http://blogs.fxstreet.com/tradersedge/2009/09/30/member-request-usdcad-outlook/