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Friday, June 29, 2018

[FOREX TIP] USDCHF Weekly Forex Forecast – 2nd to 6th July 2018

USDJPY Weekly Forex Forecast - 2nd to 6th July 2018

USDJPY Weekly Forex Forecast – 2nd to 6th July 2018

Technical Outlook: The USDCHF currency pair posted a reversal back near the resistance area of 1.00 – 0.9979 region. The declines off this level saw the currency pair falling back to the lower support region of 0.9894. With the 4-hour Stochastics currently near the oversold level, there is a possibility that USDCHF could post a modest rebound. However, price action is expected to remain within this range in the near term. A breakout below 0.9894 could trigger declines down to 0.9821.

Fundamental Outlook: Data from Switzerland remains broadly quiet with only the manufacturing PMI, retail sales and the unemployment rate reports coming out this week. None of the reports are expected to make any big impact in the currency markets. On the other hand, data from the U.S. will see the release of the key economic indicators which includes the ISM’s manufacturing PMI as well as the monthly payrolls report which could influence the currency pair for the week ahead.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 2nd to 6th July 2018

The post USDCHF Weekly Forex Forecast – 2nd to 6th July 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDJPY Weekly Forex Forecast – 2nd to 6th July 2018

USDJPY Weekly Forex Forecast - 2nd to 6th July 2018

USDJPY Weekly Forex Forecast – 2nd to 6th July 2018

Technical Outlook: The USDJPY currency pair was seen rallying back to the resistance level area of 110.91 – 110.66 region. Despite the rebound, we expect to see price action being muted at this level. There is a high likelihood that price action could fall back to the support level at 109.97 in the near term. Further declines could push USDJPY down to the lower support at 109.14 region. To the upside, an unlikely breakout above 110.91 could trigger further gains toward 111.00.

Fundamental Outlook: The week ahead will mark the start of the third quarter of the year. Data from Japan will see the release of the quarterly Tankan manufacturing and non-manufacturing surveys. Data from the second quarter showed that activity across both the sectors had fallen somewhat. The data for the quarter ahead is expected to show somewhat subdued levels especially with the heightened uncertainty surrounding the global trade wars.

USDJPY Weekly Forex Forecast – 2nd to 6th July 2018

The post USDJPY Weekly Forex Forecast – 2nd to 6th July 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] EURUSD Weekly Forex Forecast – 2nd to 6th July 2018

EURUSD Weekly Forex Forecast - 2nd to 6th July 2018

EURUSD Weekly Forex Forecast – 2nd to 6th July 2018

Technical Outlook: The EURUSD currency pair was seen posting a rebound off the lows near 1.1540 last week. Price action managed to break past the minor falling trend line as a result which signals an upside correction in price. With the next main resistance level sen at 1.1848 – 1.1825, the EURUSD currency pair is expected to likely extend the gains to the upside. To the downside, the declines are likely to be limited by the falling trend line which could act as a dynamic support level.

Fundamental Outlook: Economic data from the Eurozone is packed for the week ahead with the new trading month coming up with the monthly manufacturing and services PMI. Flash estimates showed that activity remained broadly subdued from the month before. The forward looking indicators are expected to show that the economic activity in the Eurozone remained more or less advancing at the same pace. This could potentially dent the sentiment in the markets about a rebound in the Eurozone economy following a slowdown in the first quarter.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 2nd to 6th July 2018

The post EURUSD Weekly Forex Forecast – 2nd to 6th July 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

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