[FOREX TIP] USDCHF Weekly Forex Forecast – 3rd to 7th April 2017

USDCHF Weekly Forex Forecast – 3rd to 7th April 2017

Technical Outlook: USDCHF has been steadily rising after prices formed support near 0.9894 – 0.9861. The bullish rally continues to the upside and price action is likely to push closer back to 1.015 – 1.0172 region where resistance is likely to be formed yet again. With the daily Stochastics moving up from the oversold levels, USDCHF will be a buy on the dips, targeting 1.0173. The bullish bias will be invalidated in the event price breaks down below the support level.

Fundamental Outlook: The first week of April will focus on a number of reports from Switzerland. Kicking off the week will be the retail sales which is expected to show a 0.8% decline on a year over year basis. This is a slight improvement from the month before, where retail sales fell 1.4%. Inflation from Switzerland is expected to show a 0.2% increase, which is slightly down from 0.5% registered inflation the month before. The Swiss franc is however expected to focus on the FOMC meeting minutes and the U.S. nonfarm payrolls report which will shape the direction for USDCHF this week.

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USDCHF Weekly Forex Forecast – 3rd to 7th April 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 3rd to 7th April 2017

USDJPY Weekly Forex Forecast – 3rd to 7th April 2017

Technical Outlook: USDJPY is seen attempting to break out to the upside with the descending triangle showing signs of weakness. However, to validate this bullish bias we need to wait for USDJPY to break out above 111.650 support/resistance level. A successful breakout to the upside, followed by a retest of 111.650 as support level will validate the continuation to the upside with 115.00 resistance level coming into focus. Alternately, if USDJPY continues to push lower, then a break below the previous low at 110.00 will trigger further downside, towards 104.00 support.

Fundamental Outlook: A busy week for Japan, this week data will start with the quarterly Tankan manufacturing and non-manufacturing survey. Both the numbers are expected to show a modest improvement from the previous month. Japan’s inflation figures are however expected to show no changes with the BoJ’s gauge of core inflation is expected to show a 0.2% increase in consumer prices, same as the month before. Later in the week, other indicators will include the average cash earnings which could provide some insights into wage pressures if any.

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USDJPY Weekly Forex Forecast – 3rd to 7th April 2017

 

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[FOREX TIP] EURUSD Weekly Forex Forecast – 3rd to 7th April 2017

EURUSD Weekly Forex Forecast – 3rd to 7th April 2017

Technical Outlook: EURUSD posted strong gains last week despite opening the week gapping higher. The declines came in a reversal that was surprising as the U.S. dollar index was also looking weaker. Price action is now short of a few pips from the support level at 1.0630 – 1.0600 region. Expect EURUSD to possibly bounce off this level and rallying towards 1.0800 this coming week. This short term bullish bias will however be invalidated in case EURUSD breaks down below 1.0610 support. In this case further declines can be expected that could push EURUSD towards 1.0500 support which was last tested around early March this year.

Fundamental Outlook: Economic data from the Eurozone this week will witness fresh PMI survey numbers for manufacturing and the services sectors. Overall, the final manufacturing PMI is expected to show no major changes from February. Other data over the week will include the factory orders from Germany which is expected to show a rebound following a strong decline of 7.4% the month before. With most of the data from the Eurozone relegated to second tier, focus will turn to the data from the U.S.

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EURUSD Weekly Forex Forecast – 27th to 31st Mar 2017

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