Daily Trading Forecast
Forex
Asian trading hours today rendered the Dollar a slight lift as a sort of correction of the recent downmove. Right now in the European morning a consolidation in the major pairs has set in. For EUR/USD (now at 1.4170) and GBP/USD (now at 1.6070) we see another upmove to set in during today`s trading, to 1.4230 and 1.6149 correspondingly. For USD/CHF and USD/JPY (presently at 0.9210/83.60) we expect a slight selling tone in today`s trading to remain, testing the levels around 0.9175/83.35.
Stock Indices
After a mixed picture of Asian trading today (Hongkong up, Tokyo down) the Euronext 100 (presently trading at 717.77) started almost unchanged, consolidating its higher levels in this cyclical upmove, a move we expect to overwhelm the Euronext 720-mark today. DJII and NASDAQ bear further upside potential in our view, to 12375 DJII and 2365 NASDAQ.
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