Tuesday, June 4, 2013

Expectations for Forex pairs this week

Decided to write a few notes of what I expect regarding Forex pairs this week. It is not some thorough analysis, just a few ideas and that's it.

I expect US dollar to continue weakening. We saw its' weakness last week and continue into this one. And this will be till the end of the week. I hope Non-farm payrolls can turn the course around, but I am not sure about that.

There should also be a recovery in Australian dollar. If better than expected numbers come in today we can see strong moves in various Australian dollar pairs.

eur/gbp should move out of its' current range up or down. I do not know which direction, just expect current range to end or at least some rally.

Yen pairs should see breakouts too. Most probably Thursday will be a catalyst for that. We have interest rate decision from Europe and England. You can see technical patterns in eur/jpy and gbp/jpy, so be sure to watch what happens at the time of releases.

Swiss Franc will strengthen against European currencies, but will probably weaken against commodities. Not very strong about that!