In today’s Forex Forecast, we share the price outlook for EUR/USD, USD/JPY, USD/CAD and WTI crude oil, with Steven Woodcock, Senior FX Analyst at Plutus FX. EUR/USD: Buy dips towards 1.13 Looking at the hourly charts, Woodcock notes that we did move to the 1.15 area, but better economic data out of UK caused EUR/GBP to turn lower and limiting the upside for EUR/USD. He suggests buying any dip towards the 1.13 area, with the cross still in a consolidatory phase. Low and mid 1.13’s is where the pair is looking for support, and still remains a range trade, according to Woodcock. USD/JPY: Pullback likely Woodcock says that USD/JPY remains a range-trade, with the pair seen struggling near 119 levels. He believes that we are likely to see a pullback towards the 116 area. On the technical outlook, he adds that the charts are working really well and the market remains very slow, awaiting a catalyst. USD/CAD: Range-play On USD/CAD, Woodcock notes that we hit the right levels in the pair, and remain in a range. Oil is trying to recover which is causing the Canadian dollar to see some strength. Tip TV Finance is a live video show, broadcasted weekdays from 10 am sharp. Based in St Paul's, in the heart of the City of London, Tip TV prides itself on being able to attract the very best quality guests on the show to offer viewers informed, insightful and actionable infotainment. The Tip TV Daily Finance Show covers all asset classes ranging from currencies (forex), equities, bonds, commodities, futures and options. Guests share their high conviction market opportunities, covering fundamental, technical, inter-market and quantitative analysis, with the aim of demystifying financial markets for viewers at home. See More At: www.tiptv.co.uk Twitter: @OfficialTipTV Facebook: https://www.facebook.com/officialtiptv
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Duration: 8m 19s
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