[FOREX TIP] Weekly Forex News Events for EURUSD – 15th to 19th May 2017

Weekly Forex News Events for EURUSD – 15th to 19th May 2017

EURUSD had a bearish week. However, the pair took bullish move on the H1, H4 charts to finish off the week. It would be better for the traders if the price makes a breakout of the last week’s range in the next week. There are not many high impact news events to take place this coming week. Let us have a look at the schedule of the high impact news events that might create volatility on the EURUSD next week.

Tuesday- 16^th March-18.30 GMT

• Building permits

Intra-day trades often get hit by the spikes that are produced by this news event.

Wednesday-17^th March-18.30 GMT

• Crude oil Inventories

An important news event, which should be dealt with care by the Intra-day traders.

Thursday-18^th March-18.30 GMT

• Unemployment Claims

This week’s forecast is 240 K. On 11.05.2017, the actual claim was 236 K; on 04.05.2017, the actual claim was 238 K. On both occasions, actual claim were less than the forecast. On the other hand, on 27.04.2017, the actual claim was 257 K, which was more than the forecast. On 20.04.2017, the actual claim was 244 K, which was almost equivalent to the forecast. Overall, in the last four weeks, “Unemployment Claims” data has been doing well for the USD. By looking at this week’s forecast number, we assume it would do well for the USD next week as well. Let us wait and see what comes out. However, one thing for sure as an intra-day trader, you would not want to trade just before this news event next week.

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 15th to 19th May 2017

AUDUSD Weekly Forex Forecast – 15th to 19th May 2017

The AUDUSD has been pressing to the downside for the most part of the last week. As long as Aussie trades below the 0.7500 big psychological number there is a risk for the downside movement to extend more to the downside. We also have an important intraday resistance level between the 0.7425-0.7450 zones where AUDUSD might find some sellers.

To the downside the first level of support obviously is the previous week low 0.7328. A break and a daily close below this level will expose daily support level 0.7280. The stochastic indicator is already in overbought territory, so early in the week we can expect to see another attempt to break lower or at least we’ll have some consolidation.

The Australian economic calendar has quite a lot to offer in terms of risk events. Tuesday, traders need to pay attention to the RBA Meeting’s Minutes as a possible catalyst for some volatility. Wednesday we have the Westpac Consumer Confidence Index while Thursday will bring the Unemployment figures which since the beginning of the year showed a weaker labor market.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 15th to 19th May 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast – 15th to 19th May 2017

USDCAD Weekly Forex Forecast – 15th to 19th May 2017

The USDCAD bullish trend looks mature and there is no sign of reversal anytime soon. Only a break and a daily close below support level 1.3630 can open up the door for a much significant retracement. The big support level comes at 1.3500 psychological number. On the upside, we need a break of the current 1.3790 resistance level in order for the bullish trend to have enough traction to resume itself.

The stochastic indicator is in oversold territory on multiple time frames and this is another encouraging sign for the bullish case. However, until we don’t have a clear breakout on either side of the market more range should be expected.

The Canadian economic calendar looks mild and, other than the CPI inflation figures scheduled on Friday there are no other major risk events. However, the developments in the energy sector can hinder on the Canadian dollar exchange rates so traders should pay attention to the volatility in the Oil market.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 15th to 19th May 2017

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