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Forex Trading Outlook for the Week of February 22, 2016

Forex Trading Outlook for the Week of February 22, 2016

4 Years ago | February 19, 2016 00:00:00

The new week will start out with a focus on sterling, which will be influenced by the outcome of the EU summit talks with the pre-weekend price action suggests optimism that a deal can be worked out. This suggests the surprise would be no deal. This comes in a market where 1 + 1 – 3, at least as far as USDJPY goes as the failure to regain 115 despite the mid-week gains in equities has it ending the week on a defensive note. In this regard 112 will be pivotal in keeping the recent 110.97 low intact. EURUSD, meanwhile, has been in a chop since its retreat on Monday and I outline the levels to watch on both sides in my week ahead video. 

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