EURUSD

Prices are little changed from Mondays European opening levels and momentum is slow. As a result there are no strong indications for the direction of this mornings sentiment but on balance the forecast is for a cautiously negative bias while below 1.3100.

GBPUSD

This week's signals for sentiment are bearish but once again buying  interest below 1.6000 limited any losses yesterday. For today there are no strong signals for this mornings bias so the  forecast is to be cautious and expect no new momentum until prices break 1.5975 – 1.6055

USDJPY

signals for sentiment are bullish this week and with Mondays gains USDJPY has now recorded  8 days of improvement in a row taking positive sentiment to overstretched extremes. This leaves sentiment temporarily bearish today while below 80.02.

EURJPY

In line with the week's bullish forecast prices have  now reached the first profit target for the week at 104.62. Going into today with the potential for some  profit taking selling this mornings bias is forecast to be cautiously bearish below 104.62

AUDUSD

Prices changed little yesterday and overall sentiment consolidated in a small range that has continued into Asian trading today. The lack of any strong sentiment leaves the forecast to be cautious so  expect no new momentum until prices break 1.0295 – 1.0353.

USDCAD

After almost 200 pips of gains on Thursday and Friday positive sentiment is overstretched, highlighted with prices and sentiment consolidating  for most of Mondays trading. Against this background this mornings forecast is just cautiously bullish for sentiment while above .9901 .



Daily insight provided by ADS Securities