EUR/USD U.S. Overnight Forex Preview
Shain Vernier • 1 min read
It is the end of another forex trading week here at FXLeaders. Tomorrow’s session will mark five left in 2017 before we flip the calendar to 2018. It has been a remarkable year with several firsts on many fronts.
On a smaller timeframe, this week has brought an active news cycle. Here are a few items to be aware for the U.S. overnight session:
E.U. GFK Consumer Confidence
Switzerland KOF Leading Indicator
U.S. Core Personal Consumption, Durable Goods
It will be instructive to see just how many traders take long positions home in the U.S. indices and dollar on tomorrow’s close. With the long Christmas weekend coming on, one would think that some hedging action will head towards safe-havens.
The theme of the day on the forex is compression. Several of the majors may show a Doji on the daily timeframe at the close. The EUR/USD is no different.
In trading, anything is possible. Just because today has been quiet and a holiday is bearing down does not mean that Friday will be slow. In fact, the EUR/USD may be in for a directional move on the U.S. Core Personal Consumption reports. Upon a surprise in Friday’s pre-session U.S. economic metrics, we could see a breakout and run at 1.1800 or 1.1960.
If this market becomes active, check back for ideas on how to trade it ahead of the weekly forex close. In the meantime, take a look at the live trading signals page for ideas on how to become active in the markets.