[FOREX TIP] USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017

USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017

Technical Outlook: The USDCHF currency pair has remained flat with price action over the past week stuck near the 0.9894 – 0.9861 level of support/resistance. A reversal near this price region could potentially signal further downside in the USDCHF. We expect that the U.S. dollar will slip towards the 0.9741 level of support initially followed by a test towards the 0.9563 support below. A retest to this support level will confirm the test of support which hd previously kept the prices supported to the upside. Alternately, to the upside, a bounce off the current level will leave the target towards 1.008 in focus..

Fundamental Outlook: Data from Switzerland for the week ahead will see just the UBS consumption indicator and the economic expectations. Both the data points are unlikely to bring about much reaction from the markets. Focus will of course turn to the U.S. markets which will see some data points that include the Conference Board’s consumer confidence data. On the housing sector, the pending home sales report will be coming out while from the labor market, the weekly unemployment claims report will be released. On Thursday, the forward looking Chicago PMI data will be released which will shed light into the activity in the manufacturing sector in the Chicago area.

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USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 25th to 28th Dec 2017

USDJPY Weekly Forex Forecast – 25th to 28th Dec 2017

Technical Outlook: The USDJPY was seen testing the previous resistance level near 113.58 last week. Price action was showing signs of exhaustion near this level. We expect to see some moderation in the rally as USDJPY could once again retrace the gains. The sideways price action within 113.58 and 112.07 could mean a potential breakout from this level in the medium term. To the upside, the next resistance level is seen at 114.60, while to the downside, a break down below 112.07 could signal a move towards the 110.91 level of support. In the near term, we expect USDJPY to retrace as it is expected to test 112.70.

Fundamental Outlook: Economic data from Japan is quiet with no major news releases of interest. Following last week’s decision by the Bank of Japan to leave interest rates and monetary policy steady, the Japanese yen is expected to remain rather muted during the week ahead. The Japanese markets are also expected to slow down. However, end of year flows and balancing of the books could lead to some volatility in the Japanese yen. Lack of macroeconomic fundamentals will likely see the Japanese yen focusing on the broader global themes which could put some significant risk on the currency.

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USDJPY Weekly Forex Forecast – 25th to 28th Dec 2017

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[FOREX TIP] EURUSD Weekly Forex Forecast – 25th to 29th Dec 2017

EURUSD Weekly Forex Forecast – 25th to 29th Dec 2017

Technical Outlook: The EURUSD posted a modest rally from the previous week as price action was seen trading near the resistance level of 1.1850. On the 4-hour chart, we notice the potential bullish flag pattern that has formed. The upside bias increases as we see that price action is supported above the 1.1850 level. In order to confirm the bullish flag pattern, EURUSD will need to break past the previous highs at 1.1901. Following this, further gains can be seen coming which could see the common currency testing the 1.20 level of resistance to the upside. This marks the retest to the resistance level price had declined. To the downside, failure to breakout above 1.1901 could signal a consolidating within the 1.1850 level.

Fundamental Outlook: The week ahead is quiet as far as the euro is concerned. Most of the markets will be closed for the major part of the week. On Friday, the German and Spanish preliminary inflation estimates will be released. The data is unlikely to impact the markets much with inflation expected to remain largely stable. Even in the case that inflation comes out weaker than expected, the year over year inflation rate for both the economies still stands at a healthy rate. The ECB had also previously warned that consumer prices might drop into the end of the year and early next year. With the markets well prepared for this, the euro is expected to remain trading rather flat during the week ahead.

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EURUSD Weekly Forex Forecast – 25th to 29th Dec 2017

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