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Saturday, March 31, 2018

[FOREX TIP] USDCHF Monthly Forex Forecast for April 2018

USDCHF Monthly Forex Forecast for April 2018

Technical Outlook: The USDCHF currency pair has been posting a modest rally ever since price action managed to breakout above the 0.9470 – 0.9433 level of resistance. The breakout off this resistance level was met with the doji candlestick followed by a bearish decline on Thursday. In the near term, we expect USDCHF to dip back to the breached level of 0.9470 – 0.9433 to establish support. A reversal off this level could signal further gains targeting 0.9715 – 0.9681. In the event that USDCHF slips belo this support level we can expect to see further declines with price action consolidating within the breached resistance level and the previous lows that were formed.

Fundamental Outlook: The Swiss franc will see a quiet month ahead with no major events scheduled. Following the SNB’s meeting last quarter wherethe 3-month LIBOR rate was left unchanged, most of the flows in USDCHF will be determined by the data from the United States. With no Fed meeting scheduled this month, investors will focus on the advance quarterly GDP report coming out later in April. This could potentially shed light into the state of the U.S. economy during the first three months of the year. The U.S. economy is expected to maintain its upward trend of around 2.5% average quarterly GDP growth and this could build up into the next month’s Fed meeting.

Previous USDCHF Monthly and Weekly Forex Forecast

USDCHF Monthly Forex Forecast for April 2018

The post USDCHF Monthly Forex Forecast for April 2018 appeared first on Advanced Forex Strategies.



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[FOREX TIP] USDJPY Monthly Forex Forecast for April 2018

USDJPY Monthly Forex Forecast for April 2018

Technical Outlook: The USDJPY was seen initially slipping below the 105.44 – 105.14 level of support but price action quickly recovered from this level following the bullish engulfing pattern that was formed. This was later seen by a stronger bullish candlestick off the support level. The near term consolidation could signal that price action will see some pullback ahead of further gains. A close above the previous high formed at 106.820 level of resistance could signal further gains. Watch for price action to briefly retest the support level where a potential right shoulder could be formed. A reversal off the support could signal minimal gains toward 108.14 level.

Fundamental Outlook: The sentiment in the Japanese yen is most likely to be influenced by the global themes playing out. The Japanese yen continues to remain in favor especially amid rising uncertainty in the global markets. On the economic front, the start of April will see the release of the quarterly Tankan manufacturing survey results. Manufacturing companies have been seen slowly improving their outlook and this could result in a positive beat on the estimates. The Bank of Japan will be holding its monetary policy meeting later in April. The central bank is expected to keep interest rates and its QE program unchanged. However, the recent uptick in consumer prices, albeit still far away from the BOJ’s 2% inflation target rate could keep market speculators bullishly bid on the yen.

Previous USDJPY Monthly and Weekly Forex Forecast

USDJPY Monthly Forex Forecast for April 2018

The post USDJPY Monthly Forex Forecast for April 2018 appeared first on Advanced Forex Strategies.



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[FOREX TIP] EURUSD Monthly Forex Forecast for April 2018

EURUSD Monthly Forex Forecast for April 2018

Technical Outlook: The EURUSD maintained a range within 1.2443 and 1.2240 levels for the most of last month. Price action continues to consolidate within these levels and suggests that there could be a potential breakout from this range in the month ahead. We could see some short term gains in price as EURUSD continues to push ahead to thee upside within the broader triangle pattern that is evolving near the top end of the rally. A close above 1.2443 could signal further gains to the upside with the potential for the euro currency to post fresh highs. However, in the event of a reversal the declines are likely to stall near the low end of the support at 1.2240.

Fundamental Outlook: The month ahead will see a relatively quiet month following the close to the first quarter data. With the ECB seen hold interest rates steady, focus remains on the fundamentals from the region. Recent consumer price index data suggested that headline inflation might have increased in the month of April. This could reflect in some positive sentiment in the common currency. With most of the domestic issues now a thing of the past, the focus will remain on the global trade uncertainty led by Trump’s policies. The markets are cautious as the potential for the trade uncertainty could trigger into a global trade war with Europe likely to be affected. The only main event coming up in April is the ECB’s monetary policy meeting but no changes are expected from the central bank this month.

 

Previous EURUSD Monthly and Weekly Forex Forecast

EURUSD Monthly Forex Forecast for April 2018

The post EURUSD Monthly Forex Forecast for April 2018 appeared first on Advanced Forex Strategies.



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[FOREX TIP] Real Time Forex Trading Signals – 31st March 2018

This screenshot was taken on the 31st March 2018 for the week 26th to 30th March 2018.
If you want to copy all of our trades in Real Time, please click here to learn more.

Real Time Forex Trading Signals Portfolio – 31st March 2018

Real Time Forex Trading Signals – 31st March 2018

 

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CryptoCurrency News: IBM Evolution: Big Blue Is Finally Getting Serious About Cryptocurrency



IBM is breaking from enterprise blockchain norms by publicly working with cryptocurrencies in a wide range of projects.

via CoinDesk

CryptoCurrency News: Everything You Were Afraid to Ask About Crypto Taxes



There's a lot of information to process, but ignoring it can be hazardous. The IRS is going to come after investors who are not reporting their gains.

via CoinDesk

[FOREX TIP] Top 5 Most Predictable Currency Pairs for Q2 2018

#1. Gold

Gold prices were seen edging higher over the quarter but price action managed to stall near the resistance level around the 1300.00 round number level over the past three months. Still, with the strong gains posted to this level, a breakout off this level cannot be ruled out.

Is Gold on the verge of a breakout to the upside?

In the next quarter ahead, gold prices are likely to be influenced by the U.S. monetary policy and the global themes which are currently divergent. This could keep gold prices continue to trade flat around the current levels. A strong breakout above 1300, preferably on a monthly close could convince the upside bias as the precious metal could target the previous highs at 1377 level.

#2. EURGBP

The EURGBP currency pair has turned flat near the highs with price action maintaining a steady range of 0.8926 and 0.8691 level. This flat price action which has been in play since the past six months is expected to continue unless there is a breakout from this level.

EURGBP has every reason to trading within range this coming quarter

In the next quarter, we expect EURGBP to maintain this range especially as longer term risks related to Brexit uncertainty abates. Last quarter, the EU and the UK managed to seal a transitory deal that would allow for an orderly exit from the EU. This removes a significant amount of risk from the EURGBP which could reflect in price action staying flat at the current levels. Watch for a breakout below 0.8691 level of support which could see the euro giving up the gains and declining toward 0.8312.

#3. EURJPY

The EURJPY currency pair gave up most of the gains with February’s price action seeing a bearish close. Still, prices were supported near the 129.00 – 126.80 level of support. We expect to see this support level holding up in the near term.

Will the Uptrend Continue in Q2 2018 for EURJPY?

The longer term bias remains to the upside with EURJPY likely to target the 139.00 level of resistance. But considering the strong bearish close from February’s price action there is a significant risk that the EURJPY could break out below the support level. A close below 126.80 could signal a decline to the previous support level formed at 124.00 with EURJPY likely to maintain a range within 126.80 and 124.00 level.

#4. EURUSD

The EURUSD currency pair has turned flat following the strong gains to the $1.25 handle during the first three months of the year. Price action is expected to remain flat until we see a strong breakout from the current levels.

The EURUSD Bulls look tired and out of steam…

The currently bullish flag pattern being formed near the current levels puts the bias to the upside. However, given the pace of gains and lack of support being established in this rally, we expect the EURUSD to risk pullback. Support is seen near 1.1852 level which could be tested if the current momentum fails. To the upside, the EURUSD will need to breakout above the previous highs formed near 1.2455 level to maintain further gains.

#5. WTI Crude Oil

WTI crude oil prices managed to post some strong gains over the first quarter as noted in our previous quarterly commentary. Price action drifted strongly higher from the previous levels of $54 to rise toward the $64 handle. The upside bias continues to remain.

WTI Crude Oil Going up higher likely…

WTI crude oil prices managed to post some strong gains over the first quarter as noted in our previous quarterly commentary. Price action drifted strongly higher from the previous levels of $54 to rise toward the $64 handle. The upside bias continues to remain.

 

Hopefully you found this list to be useful. If we have enough comments, we will continue with this list every quarter. 2017 has been awesome for us and 2018 will even be greater.

The post Top 5 Most Predictable Currency Pairs for Q2 2018 appeared first on Advanced Forex Strategies.



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