Forex Outlook: Week Beginning 04 March 2024
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My thinking for the week starts with the amount of red folder events which mainly include US data including NFP on friday. We also have interest rate decisions coming out of Canada and the Eurozone. Last week I was looking for dollar pair longs, but we did not get the required liquidity and we mainly ranged.
We’re now going into the last month of the quarter, and I think that we should start to see some volume picking up if recent seasonality repeats. To me that means we could get some USD strength over the next few weeks and I expect this to happen around or after NFP. As a longer term trader, I will need to see the right price action that will give me conviction in this idea.
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My thinking for the week starts with the amount of red folder events which mainly include US data including NFP on friday. We also have interest rate decisions coming out of Canada and the Eurozone. Last week I was looking for dollar pair longs, but we did not get the required liquidity and we mainly ranged.
We’re now going into the last month of the quarter, and I think that we should start to see some volume picking up if recent seasonality repeats. To me that means we could get some USD strength over the next few weeks and I expect this to happen around or after NFP. As a longer term trader, I will need to see the right price action that will give me conviction in this idea.
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