After a few months of rapid rises, the headline consumer price index dropped in the euro-zone to 1.5% in March. This is a significant fall of 0.5% from 2% in February. Expectations stood at 1.8%, but were probably downgraded after the miss on German and Spanish inflation numbers. Worse off, core inflation is down all the [...]
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Slightly better than expected GDP read for the US: 2.1%. The dollar is a bit higher against the yen, less so against others. The final of US GDP was expected to show an annualized growth rate of 2%, a tick up from 1.9% reported in the first two estimates. The US dollar was mixed ahead [...]
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EUR/USD continues struggling. After the common currency suffered from the undoing of the ECB’s hawkish tilt, euro/dollar finds fresh reasons to slide. The pair trades on lower ground but still remains shy of critical support. What is behind the falls? Here are a few reasons: Spanish CPI misses: Europe’s fourth-largest economy was hit hard by [...]
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GBPAUD has been bearish since day before yesterday. The pair produced a Double Top and then four consecutive bearish candles. The price came up to 1.61750. Then is has been on consolidation. So far, we have had eight candles within the consolidation zone. If the price makes an H4 breakout, then selling GBPAUD should be the best option as far as the H4 chart is concerned. Let us have a look at the H4 chart of GBPAUD…
GBPAUD Free Forex Trading Signals – 30th March 2017
As we see that, the level of 1.65500 produced a Double Top as well as those H4 bearish candles. The level of 1.61750 has been the support and 1.62500 has been the resistance level here. If we get an H4 breakout at 1.61750, then the price should come up to 1.59500 without having that many pauses. This means the risk and reward ratio is excellent here. This would attract more sellers to sell the pair upon the breakout, which has been described here.
Let us have a look at the summary of the trade
Yesterday we shared a setup on GBPUSD. The setup is still valid. There is a very good chance that we get the signal triggered today. As we know that H4 chart’s signals are very reliable and they take more time to be triggered as well. In fact, this is what makes H4 chart to be the most reliable chart in the Forex market. We just have to be patient to make full use of it.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: GBPAUD Free Forex Trading Signals – 30th March 2017
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The Canadian dollar is looking for a new direction. Where will it go? Here are two opinions: Here is their view, courtesy of eFXnews: USD/CAD: Range Bound In USD Strength & Weakens: What’s Next? – BofA Merrill Bank of America Merrill Lynch Research notes that USD/CAD has been fairly range bound, centered around the low 1.30s, since last autumn, and [...]
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Euro/dollar trades around 1.0750, back to the 1.0720 to 1.0775 range that characterized it earlier in the month. The move to 1.0905 has been fully reversed. The rise of EUR/USD was based on four pillars. The last of these pillars has fallen off the stool. So, while the pair is still supported, it lost its [...]
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The UK triggered Article 50 and began the two-year countdown towards the exit from the European Union. A 6-page letter from Her Majesty’s government was received by the European Commission at 13:30 in Brussels, 12:30 in the UK. And what happened? With the privilege of a few hours of hindsight, we can say that the reaction is muted. Sterling dropped ahead [...]
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GBPUSD was bullish on the H4 chart in the last week. However, yesterday the price produced a Double Top at a key level and some consecutive H4 bearish candles. As things stand with the pair, sellers are going to take control of the pair. The sell trend looks stronger than the last buy trend as well. Let us have a look at the GBPUSD H4 chart.
GBPUSD Free Forex Trading Signals – 29th March 2017
As we see on the chart, that there is a Double top at 1.25900 area. Then, those H4 bearish candles breached last week’s up trending line. The price came up to 1.23750. Now it has been on consolidation. If the H4 candles hold the level of 1.24250, then there will be a selling opportunity upon the breakout at 1.23750. An H4 breakout would be the best, but an H1 breakout would do after an H4 reversal candle. Another thing, the price might go further up to have correction than the suggested resistance level here.
Let us have a look at the summary of the trade
See how this market changes in few hours. Yesterday, before those H4 candles, GBPUSD had been bullish. Buyers were looking for the opportunity to buy the pair on weakness. All of a sudden, we had those H4 bearish candles. Apparently, they were produced from a Double Top level as well. These two things have changed the scenario on GBPUSD. Now, sellers are in control. They would jump into the pair to drive the price further down whenever there are opportunities.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: GBPUSD Free Forex Trading Signals – 29th March 2017
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UK Prime Minister Theresa May signed the letter triggering Article 50 last night. Today the letter will be officially delivered to the European Union.As far as we know so far, the tone has been formal and even conciliatory. More details will be released later on. According to reports, the European Union is focusing on the terms [...]
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AUDUSD Weekly Forex Forecast – 27th to 31st Mar 2017
The AUDUSD technical pattern remains in a bullish sequence as the last week sell-off lack momentum and looks corrective in nature. The 0.7600 support level can produce a bounce, however, a break and a close below will expose the big psychological number 0.7500 level. On the upside, we have intraday resistance level at 0.7660 followed by last week opening price 0.7700.
We’re still trading above the 200-day EMA on the daily chart and the stochastic indicator is in oversold territory signaling that we can expect a bounce from current levels. The Australian economic calendar looks mild with no major risk event scheduled. On Thursday we have the RBA assistant governor Debelle is due to speak at the FX Week Australia conference, in Sydney.
Previous AUDUSD Weekly Forex Forecast
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USDCAD Weekly Forex Forecast – 27th to 31st March 2017
The USDCAD is in the process of establishing a bearish flag formation which warns that the downside might not be over yet. Any rally above resistance level 1.3417 and into the upward channel border should fade away for another attempt to try and challenge the current low 1.3280. A break below the lows will open up the door for a possible retest of the 1.3212. The stochastic indicator is neither in oversold or overbought territory which can indicate that we should expect more ranging activity until we reach one extreme or the other.
Tuesday the BOC Governor Poloz is due to hold a press conference. Wednesday we have the US Crude Oil Inventories which tend to have an impact on the Canadian dollar due to the negative relationship between the Oil prices and the USDCAD exchange rate. Friday the Canadian GDP figures are expected to come flat at 0.3%.
Previous USDCAD Weekly Forex Forecast
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GBPUSD Weekly Forex Forecast – 27th to 31st Mar 2017
Last two weeks GBPUSD rally has finally reached a climax point from where we can see a pullback. The rejection off of the big psychological number 1.2500 and the unwillingness to post a weekly close above it warns that the cycle from 1.2100 low has finished. There is a possibility for the GBPUSD to retest last week opening price 1.2387 before another upward cycle to be seen.
The stochastic indicator is coming down from overbought territory, so we have a build up in downside momentum behind this move. We also have to keep in mind that an early break and a daily close above the big psychological number can signal that retracements continue to be shallow and the cycle from 1.2100 low is still intact. This will put the focus on the 1.2700 swing high which can act as resistance.
The Article 50 will be triggered on Wednesday, March 29. The UK will inform the EU that they will start the procedures to leave the 28 nation bloc. This is a major risk event that can disrupt the GBPUSD volatility, but we don’t know yet how much of this is already priced in. The UK economic calendar looks mild as the only notable risk event is the UK Trade Balance figures scheduled on Friday. Other than that we have few Fed’s member speeches and the US Final GDP figures for the last quarter of 2016 which are expected to come flat at 2%.
Previous GBPUSD Weekly Forex Forecast
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The US Conference Board Consumer Confidence measure made a huge leap to 125.6 points, far better than 114 that was expected. Also, the figure for February was revised up from 114.8 to 116.1 points. The excellent news implies elevated consumption during the month of March. In theory, confident consumers spend more. The US economy is largely [...]
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Oil prices have tumbled down and remained on the low ground. The recent negotiations between OPEC and non-OPEC members about an extension do little to alleviate the pressure. And what do technical levels tell us? The team at Barclays analyzes the dynamics: Here is their view, courtesy of eFXnews: CitiFX Technical FX Strategy Research notes that [...]
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The British government is about to make Brexit official by triggering Article 50 of the Lisbon Treaty on March 29th. The historic day follows the EU Referendum held more than nine months beforehand. On the Brexit vote, the pound crashed, and then continued to lower ground around the flash crash. PM Theresa May’s tilt to a “Hard [...]
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The German IFO Business Climate was expected to remain unchanged at 111 points for the month of March. The indicator saw a dip in January but bounced back to 111 in February. The business expectations component was predicted to rise from 104 to 104.3. The Current Assessment carried expectations for a small tick lower: 118.3 from [...]
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Markit’s purchasing managers’ indices were expected to remain mostly unchanged: manufacturing to stand at 56.5 and services at 54.6 points. Any score above 50 represents economic expansion. Germany is the largest economy in the euro-zone. EUR/USD was on a recovery path ahead of the publication, trading around 1.0780. Beforehand, the pair dropped on due to a greenback [...]
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Republican lawmakers are still negotiating the AHCA bill, aka Trump-care. The legislation that is meant to repeal and replace Obamacare does not have enough support from the ruling Republicans to pass the vote in the House, a first step. Given the opposition from within, President Donald Trump decided to set an ultimatum: a vote on Friday [...]
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Fed Chair Janet Yellen offers no significant comment on monetary policy. She says that the economy gains when more people work, which is not breaking news, to say the least. She also notes that young people should be better prepared for the labor market. The US dollar remains pressured as markets await the hyped vote [...]
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The main story of the day is whether or not Trump care will pass the first hurdle in the House vote. If the bill passes, it is seen as a sign that Trump is in control, can pass complex legislation and then proceed to cut taxes and splashing the cash on infrastructure as promised during the [...]
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The euro enjoyed some hawkish comments by the ECB as well as optimism about the outcome of the French elections. What’s next? Here is their view, courtesy of eFXnews: Barclays Capital Research has upgraded its macro forecasts for the Euro area seeing growth to 1.7% for 2017 and 2018. Despite better growth, Barclays forecasts the output [...]
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Brits are back to buying: a rise of 1.4% in headline sales in February, much better than expected. While this is accompanied by a downwards revision, we have a beat also on the y/y numbers” 3.7%. Excluding fuel, sales are up 1.3% m/m and 4.1% y/y. GBP/USD is jumping, topping 1.25. The high so far is 1.2527. The next [...]
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The Australian dollar is torn between positive Chinese data and not-so-good employment data at home. The wobbles of the US dollar also play a role in AUD/USD. What do the technical levels tell us? Here is the view from NAB: Here is their view, courtesy of eFXnews: NAB Technical FX Research notes that while AUD/USD 2017 uptrend [...]
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NZDJPY has been bearish since the beginning of this week. The pair seems to have found its resistance at 79.450. The price then has kept making lower low on the H4 time frame. There is a lot of room for the price to go further down. Thus, as far as the H4 chart is concerned NZDJPY might offer short entry soon. Let us have a look at the H4 chart to find out the levels that we need to keep our eyes on….
NZDJPY Free Forex Trading Signals – 23rd March 2017
As we can see that, the price produced an H4 Engulfing candle and came up to the level of 77.960. The pair has produced some corrective H4 candles. The level of 78.470 has been working as a level of resistance. The price already has had some rejections from this level. If this level produces an H4 Engulfing candle, which breaks the level of 77.960, then selling the pair would get some green pips for the traders.
If we get an H1 breakout instead at the same level, this trade setup would still be valid.
Let us have a look at the summary of the trade…
We often see that a candle makes a breakout, but the next candle comes back to the place where the price previously was. Like here, if this H4 candle goes up breaching the resistance level, but the next H4 candle comes back into the resistance level, then we should consider that the level is held and the trade setup is valid. This is what is called false break. It is often seen price goes towards the trend even with stronger momentum after having a false break.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: NZDJPY Free Forex Trading Signals – 23rd March 2017
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The number of sales of existing homes dropped by 3.7% in February to an annualized level of 5.48 million, a bit under expectations. The US dollar is slightly weaker against the yen but the moves are limited. This is a second-tier figure and the miss is not a disaster. US existing home sales were expected [...]
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The initial move towards the triple-bottom of 111.60 did not result in a breach of this magical level. US traders left the job to Asian traders, which pushed the Japanese currency below the point just as European traders sip their morning coffee. USD/JPY is now trading at 111.40, a level last seen on November 28th, [...]
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The sell-off of the greenback continues into the wake of the European session and the pound is there to take advantage. GBP/USD is advancing and is now flirting with the round 1.25 number. Update: we have a break and above 1.25. The next level of resistance awaits at 1.2540, which capped the pair before the recent [...]
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The impact of the Federal Reserve’s dovish hike (see 5 dollar downers) continues to hurt the US dollar, especially against the majors. More specifically for USD/JPY, often a bellwether for the wider US dollar trend, the risk-off sentiment has its impact as well. The S&P 500 is extending its losses, which exceed 1% at the [...]
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Nearly a week after that “dovish hike” from the Federal Reserve, the US dollar continues reeling. That decision had five dollar downers which continue echoing. But looking more in detail, the greenback is suffering against some currencies more than against others. Here are quick updates. EUR/USD: The world’s most popular currency pair is settling above [...]
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Higher than expected inflation in the UK. Month over month CPI rises by 0.7%, pushing the year over year CPI to 2.3%. GBP extends its gains. The UK was expected to report a rise of 0.5% m/m and an acceleration of the y/y price rise to 2.1% in February from 1.8% in January. Core CPI carried projections [...]
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Foreign exchange analysis is utilized by retail forex day traders to determine whether to sell or buy a currency pair at any point in time. Foreign exchange analysis could be technical in nature, such as using charting tools, or fundamental, using news-based events and /or economic indicators. The day trader’s currency trading system use analysis [...]
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A three-hour+ long televised debate (#LeGranDebat) encompassed a wide variety of topics concerning French voters. Emmanuel Macron, the young, former socialist that is running independently on a centrist platform, seems to have come on top. Opinion polls held immediately after the event ended showed he edged out his rivals. This is crucial for him. He is not [...]
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Most of the pairs in the Forex market have been in a range after the last FOMC event. As things stand, the pairs might take some time to take their directions and offer us entries. Among them, AUDCAD looks good to offer us a long entry. The pair has been on a bullish trend and has had some corrections already. Let us find out the levels that we need keep our eyes on to take the long entry on AUDCAD.
AUDCAD Free Forex Trading Signals – 21st March 2017
As we can see that the pair has kept making higher highs from the level of 1.01280. The level is a Double bottom level as well. The price went up to 1.03285 yesterday. Then, it has been having correction. Here the level of 1.02850 has the potential to be a level of support. If this level is held and we get an H4 breakout at 1.03285, then buying AUDCAD should be a good option.
An H1 breakout after getting an H4 reversal candle would be valid for the trade set up as well.
Let us have a look at the summary of the trade
This trade setup is based on ABC trading pattern. This is a reliable pattern, but we have to be immaculate on setting our Take profit. Price often takes opposite direction after hitting the take profit level. Traders are advised that they should be aware of the spread of a pair at the time of setting their Take profit while trading on an ABC trading pattern.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: AUDCAD Free Forex Trading Signals – 21st March 2017
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The Canadian dollar made some gains against the greenback, but that is mostly fueled by the weakness of the USD. What’s next for the C$? Here is their view, courtesy of eFXnews: The Canadian dollar reversed its course following the Fed’s interest rate decision, seeing its greatest daily appreciation in a year but such gains are likely to [...]
The post CAD: Loonie Boost Only Temporary; Where To Target CIBC appeared first on Forex Crunch.
The British pound enjoys another round of buying following the BOE’s hawkish tilt last week, as well as the Federal Reserve’s dovish hike. GBP/USD is now trading at 1.2410. The next resistance line is very close: 1.2415. Further resistance is only at 1.2540. Support awaits at 1.2360. The Rightmove House Price Index showed a rise of 1.3% in prices [...]
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GBPCAD made a huge H4 Engulfing candle right at a Double bottom level. The price then continued making higher highs as well. This suggests that the pair is in strong buy trend. However, the price has been having correction now. Let us find out the levels, that might be the support and the breakout level…
GBPCAD Free Forex Trading Signals – 20th March 2017
See the massive H4 candle, which was created at 1.63100. This is a Double bottom level as well. This means the price has its strong support at this level. The price then went up to 1.65430 and started having correction. As things stand with the pair, the level of 1.64490 might come into play and act as a level of Support. If it really does, then we should wait for a breakout at 1.65429.
The pair has the potential to go towards the North up to 1.67000. This means the risk and reward ratio here is lucrative for the buyers. Let us have a look at the summary of the trade…
Although this analysis has been done upon the H4 chart. However, the gap between the breakout and Support level is huge. Thus, the pair might take time to test the support level and even more time to make the breakout. This means buyers have to be patient here. To some extent, this chart looks to fit with the daily chart more than the H4 chart. Traders are advised to keep their eyes on the Daily candle pattern as well to be sure.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: GBPCAD Free Forex Trading Signals – 20th March 2017
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EUR/USD starts the trading week on a positive note. After consolidating the gains towards the end of the week, we are now seeing an upwards move in the range. The world’s most popular currency pair trades around 1.0770, just under resistance at 1.0775. Further resistance awaits at 1.0830. What is behind the fresh move? This is mostly [...]
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AUDUSD Weekly Forex Forecast – 20th to 24th Mar 2017
The AUDUSD technical pattern has shifted to the upside and we’re in a bullish sequence.We can see a break above the February’s high 0.7740 level, but we also see a retracement back inside the range as the stochastic indicator is extremely overbought. The upside can be capped below last year high 0.7831, but a break and a daily close will set the stage for more AUDUSD strength. However, to the downside, we have 0.7660 acting as a first intraday support level. A break and a close below it will open the door for a retest of the 0.7610 support before to see another attempt to break higher.
We don’t have much risk events coming from Australia. On Thursday, we have the RBA Meeting Minutes which is going to give us more insights into where the RBA see the interest rate going this year. On Wednesday the RBA Assistant Governor Debelle speaks at the TradeTech FX Asia conference.
Previous AUDUSD Weekly Forex Forecast
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USDCAD Weekly Forex Forecast – 20th to 24th March 2017
The USDCAD is in the process of correcting the cycle from the February low. The broad based dollar weakness will keep USDCAD under pressure. Early in the week, we can see any rally towards 1.3417 intraday resistance levels to fade away for a possible new low and a retest of the 1.3212 support level. For the bearish momentum to accelerate to the downside we need a break and a close below 1.3276 last week low.
The stochastic indicator is in an oversold condition which is why we expect a minor rally or at least some sort of consolidation before the downside to prevail again. The Canadian economic calendar looks mild with the only notable risk event being the CPI inflation figures. The market consensus sees a flat reading; however, with the recent slump in the energy sector, we can expect a downtick in inflation expectation. Another major risk event for all dollar crosses is Fed Chair Yellen speech which is due to deliver opening remarks at the Federal Reserve System Community Development Research Conference, in Washington DC.
Previous USDCAD Weekly Forex Forecast
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Slightly stronger confidence among consumers: the UoM measure is up to 97.6 points. The Conditions component is at 114.5 points and the Expectations at 86.7. All are just above early projections. The inflation sub-components are slightly weaker, with 2.4% for one year and 2.2% for five years. EUR/USD is actually rising in the aftermath. The trend [...]
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EUR/USD was rising on the dovish hike from the Fed (see the 5 dollar downers). And then. the pair extended its gain in the aftermath of the Dutch elections where mainstream parties beat the extreme ones. And after a period of consolidation, we hear some hawkish sounds from the European Central Bank. Peter Praet, usually [...]
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A big bulk of US releases does little to alleviate the pressure that greenback faces since the Fed made its “dovish hike”. See 5 reasons for the dollar drop after the hike. US jobless claims ticked down to 241K, within expectations. Housing starts are up 3% to 1.288, above predictions. But permits are down 6.2% [...]
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The Bank of England was expected to leave the interest rate unchanged at 0.25% and the QE program at 435 billion pounds, unchanged since the BOE reacted to Brexit back in August. The focus is on the meeting minutes, released simultaneously with the decision. A unanimous vote is on the cards, with 9, including Governor [...]
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The Federal Reserve raised interest rates as clearly telegraphed but did not alter any of its forecasts. Here are 5 reasons for the fall of the dollar. The initial drop was followed by some consolidation in the Asian session. But now, at the wake of the European session, the greenback comes under fresh selling pressure. [...]
The post USD still weak in the morning after – updates on 7 currencies appeared first on Forex Crunch.
Australia saw a loss of 6.4K jobs in February, significantly worse than a gain of 16.3K expected and after a rise of 13.5K in January. The shortfall was compounded by an increase in the unemployment rate: from 5.7% to 5.9%. Not all the details are terrible: full-time jobs were gained while part-time positions were lost. The [...]
The post AUD/USD ascent halts after disappointing jobs report appeared first on Forex Crunch.
According to exit polls after voting ended at 20:00 GMT, the extreme-right Freedom Party (PVV) led by Geert Wilders will receive only 19 seats in parliament. This is far behind the mainstream Liberal Party (VVD) led by incumbent PM Mark Rutte which is on track to receive 31 seats. Boost for mainstream, no demand for populism more coming
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The Fed raises rates, leaves dot plot at 3 hikes Dollar falls The Federal Reserve made it clear that it is about to raise interest rates in March. The bigger question is: what’s next? (See the full Fed preview) The dot-lot, new forecasts, the FOMC statement and the press conference by Fed Chair Janet Yellen [...]
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Inflation and retail sales data for February leave the stage open for the Fed. Most data comes out as expected: core CPI is 2.2% y/y as predicted. Retail sales are up 0.1%, core sales are up 0.2% and the retail control group is up 0.1% a small miss. There are upwards revisions to retail sales numbers. [...]
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The Federal Reserve meets at the Ides of March to deliver its rate hike after providing us with a more-than-clear message. But what’s next? And how will the currency markets react to this highly anticipated event? This page features every related update: from the background, the previews, the actual news and the long aftermath:
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Britain reported a drop of 11.3K in the number of the unemployed, but the wage data is worrying and has the upper hand. Average earnings have slowed to an annual rate of 2.2%. Excluding bonuses, salaries are down to 2.3% y/y. Both are disappointments. The unemployment rate dropped to 4.7% in January, but markets focus on [...]
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GBPCAD has been in a range. However, the pair seems to have found its support at a Double bottom level. As things stand with the pair, it might offer us long entry according to the H4 chart…
GBPCAD Free Forex Trading Signals – 15th March 2017
As we can see that, the pair had its support from 1.63300. This is actually a Double bottom level. In fact, the price got bounced twice from there recently. The price then went up to 1.64050. Then, the price has been on consolidation. The level of 1.73700 seems to be the 2nd support of the move. Now if we have an H4 breakout right from this level, then buying the pair would be the best option. An hourly breakout should work here as well. Nevertheless, an H4 breakout would be the best considering today’s expected volatility.
Summary of the trade…
Today the Forex market has some massive events to face. FOMC statement, Federal Fund Rate, FOMC press conference to be held later today. Today’s market can be very shaky. Thus, traders should be careful with the already opened positions as well as the positions that they are going to take before FOMC’s events. The best thing to do would be waiting for the events’ affect to get over. If traders get a trading signal after these news events, then they should take their positions. If traders get a signal earlier than the news events, then they should make sure that they take bit smaller lot than they usually take. Another thing they should be aware of that taking intra day positions would be very risky today. The market might get sluggish in the next 10/12 hours.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: GBPCAD Free Forex Trading Signals – 15th March 2017
The post GBPCAD Free Forex Trading Signals – 15th March 2017 appeared first on Advanced Forex Strategies.
German ZEW economic sentiment rises from 10.4 to 12.8 points. This is a bit under 13.1 expected. Current Conditions follow the same pattern: a small rise from 76.4 to 77.3 points, below 78 expected. Industrial output misses expectations with a rise of 0.9% against 1.3% expected, but this is accompanied by an upwards revision. Year over [...]
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Brexit is almost here. The British government led by Prime Minister Theresa May now has the authority to trigger Article 50 of the Lisbon Treaty, notifying the European Union that Britain is leaving. The Brexit Bill was returned to the House of Commons with amendments from the House of Lords. These were related to sensitive issues: the [...]
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EUR/USD is trading at 1.0670 after reaching resistance at 1.0710. The attempt to break higher was rejected. While euro/dollar remains on high ground, some of the momentum is lost. Why? The moves to the upside were propelled by the European Central Bank. First came the press conference by Mario Draghi. He explained that the Bank removed the “using [...]
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GBPJPY has been bearish on the H4 chart. The pair has been trying to push the price further down after making a good bearish move from an important resistance level. As things stand with the pair, we might get an opportunity to sell the pair with excellent risk and reward ratio. Let us have a look at the chart.
GBPJPY Free Forex Trading Signals – 13th March 2017
The pair made a huge Engulfing H4 bearish candle from 140.400 and then produced another bearish H4 candle. The price came up to 139.460. Then, we had 3 consecutive corrective H4 candles. The price already had a rejection from 139.860. This is an important level of resistance as well. If this level of resistance is held and we get a breakout at 139.460, then selling the pair would be the best option.
Let us have a look at the summary of the trade
This week main two currencies the USD and the EURO are going to have some extremely high impact news events. Thus, the pairs that are not correlated with the EURO and the USD would be more active. GBPJPY is a pair, which is not directly related to the EURO and the USD. Thus, the pair has already shown some movements to offer us entries. When a currency pair is about to face a very high impact news event, the pairs that are directly correlated with it, seems to get sluggish. On the other hand, other pairs that are not directly correlated with it, seems to be more active. This is important information that a Forex trader should be aware of.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: GBPJPY Free Forex Trading Signals – 13th March 2017
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AUDUSD Weekly Forex Forecast – 13th to 17th Mar 2017
The AUDUSD technical pattern remains bearish. Although we got a weekly close above the big round number 0.7500, AUDUSD is still correcting the cycle from December low. We can still see a retest of the 0.7600 resistance level before the downside can resume. A break and a close below 0.7500 can open up the door for a retest of the 0.7450 support level. The stochastic indicator is still not yet in oversold conditions so we might see early in the week more strength.
The only big risk event for the AUDUSD exchange rate is the Australian Unemployment rate. The unemployment rate unexpectedly eased to 5.8% sending mixed signals about the Aussie labor market. The fundamentals don’t yet support the AUDUSD exchange rate at current level, which is the reason why we remain cautiously bearish.
Previous AUDUSD Weekly Forex Forecast
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USDCAD Weekly Forex Forecast -13th to 17th March 2017
The USDCAD was unable to close above the 1.3500 big psychological number which can be the signal that we’re in the process of correcting the cycle from January low. Based on the Elliott Wave theory, we have completed a 5 wave sequence to the upside which needs to be followed by at least 3 wave pullback. Early in the week, we can see USDCAD to challenge the previous week high before retesting 1.3350 support levels. A break and a close below this level will open up the door for a retest of the support level 1.3212.
The stochastic indicator is already in oversold territory which favors our view of an earlier retest of the previous week high or at least a period of consolidation before any real move to happen. The Canadian economic calendar looks mild but there are plenty of proxy risk events that can alter the USDCAD volatility. The Fed rate decision is the biggest risk event coupled with the US debt ceiling. Recent developments in the energy sector can posses a threat to the Canadian Dollar exchange rates.
Previous USDCAD Weekly Forex Forecast
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GBPUSD Weekly Forex Forecast – 13th to 17th Mar 2017
The GBPUSD has continued to drift lower, but we’re in the process of establishing a base from where we can bounce. Since the expectation of higher volatility in the week ahead has increased considerably we can expect the market to overshoot our support and resistance level. The big psychological level 1.2000 can provide us with a good support level from where GBPUSD can completely reverse the trend. On the upside, we have as resistance the 1.2300 levels. The stochastic indicator also shows a bullish divergence that signals a possible reversal.
There are major risk events not just for the British Pound, but for the entire market as a whole. 15 March is a major risk event because the British PM May is about to trigger the Article 50 and will inform the EU about the UK intention to leave the 24-nation bloc. On the same day, we have the Fed interest rate decision which based on the market consensus is about to hike rates for the first time this year, however, much of that seems already priced in.
On Thursday, traders need to pay attention to the BOE interest rate decision, but no changes are expected. Another major risk event is the Dutch general election with the far-right party leading in the recent polls which, if wins can trigger an avalanche of risk aversion in the markets.
Previous GBPUSD Weekly Forex Forecast
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Weekly Forex News Events for EURUSD – 13th to 17th Mar 2017
EURUSD traders are going to have a week that is full of events. This is one week, which has to be dealt by traders very cautiously. Let us have a look at those events.
This event might create opportunities for the EURUSD traders because of its timing. However, traders might as well be careful with their opened position since it could create volatility and sweep off their stop losses. It would be better to take entry after the news event.
This is a high impact news event as well, which normally produces spikes. It could be dangerous for Intra-day traders.
Number of data to be released at the same time. More likely the pair will be on a roller coaster before or at the time of these news events.
Another news event, which is well known to produce spikes on the Intra-day charts.
EURUSD traders please set an alarm for these news events hour. The pair will surely be extremely volatile before, at the time and after these news events. In fact, these news events might set a trend on the Daily even on the Weekly chart. Traders have to be very cautious to deal with this news hour.
These are normally high impact news events. However, FOMC’s events would create the tone. Thus, these news events might not be as volatile as they normally are. However, Intra-day traders should be careful with their opened positions before these events.
It would be the last high impact news event for the week. It might not be that volatile. However, we had better be safe with our Intra-day positions before this news event as well.
The post Weekly Forex News Events for EURUSD – 13th to 17th Mar 2017 appeared first on Advanced Forex Strategies.
USDCHF Weekly Forex Forecast – 13th to 17th Mar 2017
Technical Outlook: USDCHF has maintained its bullish bias but the weekly price action shows increasingly smaller bodies compared to the weekly ranges. This is indicative of a potential exhaustion to the trend in the near term with last week’s high of 1.0170 testing the 50% retracement level from the range established from the previous weekly declines. Last week saw USDCHF maintaining the price near 1.0096 support level and this could be expected in the coming week as well. However, prepare for a possible breakdown of the rising trendline that could trigger further declines down towards 1.0015 support level.
Fundamental Outlook: The Swiss franc could see some inflows this week as investors could potentially pile on to the safe haven currency ahead of the Netherlands elections on Wednesday. Still, the CHF is likely to see some event risks of its won. On Thursday March 16, the Swiss National Bank will be meeting for its quarterly monetary policy meeting. No change is expected to be made to the 3-month LIBOR rate, which stands at -0.75%. Besides the SNB’s meeting other events for the week include the PPI figures.
Previous USDCHF Weekly Forex Forecast
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USDJPY Weekly Forex Forecast – 13th to 17th Mar 2017
Technical Outlook: USDJPY is seen consolidating into a rising wedge pattern and near the 114.85 support/resistance level. We can expect a near term decline and ideally a retest to 114.85 could be a good level to sell USDJPY targeting the first support level at 113.50 followed by 112.75 lower support. The bearish outlook would be invalidated on a move towards 115.50. USDJPY will be heading into a major busy week with the FOMC and the BoJ meetings lined up alongside the risks from the Dutch elections. Therefore we can expect some volatility on the USDJPY currency pair. Still, expect to see some downside move in prices in the near term.
Fundamental Outlook: The Japanese yen could be volatile in the middle of week as USDJPY will be caught between the U.S. Federal Reserve’s monetary policy meeting on Wednesday and the BoJ’s meeting on Thursday. The Bank of Japan is not expected to make any changes, while the FOMC is all set to hike rates by 25 basis points on Wednesday. The USDJPY could also come under pressure from the Netherlands elections which could also see investors flocking on the yen as a safe haven currency.
Previous USDJPY Weekly Forex Forecast
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EURUSD Weekly Forex Forecast – 13th to 17th Mar 2017
Technical Outlook: EURUSD was bullish as expected, but not before prices slipped below 1.0567 support level. Ideally that move would have flushed out potential long positions before the rally. With prices closing near 1.0673 on Friday, expect to see some short term declines in EURUSD back towards 1.0610 support level which previously acted as resistance before breaking out higher. This could signal possible continuation to the upside when support is established at 1.0610. To the upside, the targets are 1.0750.
Fundamental Outlook: It will be a busy week for the euro, which managed to turn bullish on Friday. Major events post big risks for the single currecy this week. On Monday, ECB President Mario Draghi is expected to speak. The euro rallied last week mostly on account of the ECB chief striking a hawkish tone. In the event of a U-turn from the ECB president, the single currency could come under pressure. Later in the week, on Wednesday, the Netherlands will be holding its general elections. The results are expected to come out on March 21, but early exit polls will likely see some volatility build up for the EURUSD. Also expect to see the final inflation numbers for February, which is expected to show the Eurozone headline inflation at 2.0%, while core inflation is expected to remain steady at 0.9%.
Previous EURUSD Weekly Forex Forecast
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The decision of the European Central Bank hardly moved the euro until Draghi uttered his words about a lack of urgency. And now the common currency gets another boost, and not only from the NFP. According to reports, the ECB discussed the option of raising rates even before bond-buying ends. The Federal Reserve initially tapered QE from early [...]
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Canada was expected to report a small gain of 2500 jobs in February after a blockbuster rise of 48.3K in January. The unemployment rate carried expectations for remaining unchanged at 6.8%. USD/CAD was trading just above 1.35. The loonie suffered quite badly from the crash of crude oil prices.
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NFP beats expectations with 235K and January revised higher to 238K. The unemployment rate drops to 4.7%. Wages are up 0.2% m/m, slightly below predictions but the previous month was revised up. The “real unemployment rate” falls to 9.2%. All in all, a solid report. The dollar is sliding across the board. It seems like [...]
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After the ECB left its policy unchanged, we cover the bigger event: the press conference by ECB President Mario Draghi. Follow the live video coverage as well as the live blog of the event that moves EUR/USD. Drag live blog Live Coverage Follow the live coverage with Valeria Bednarik, Mauricio Carrillo and myself:
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The European Central Bank left its interest rates unchanged as expected. The main lending rate stands at 0% and the deposit rate at -0.40%. The QE program continues as planned: 80€ billion / per month through this month and 60€ billion per month from April and until the end of the year. The focus now shifts [...]
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As we eagerly await the ECB’s rate decision and the Mario Draghi’s show, opinion polls in France still matter. After the dust settles from Draghi, it will be back to normal, the new normal in Europe which is the French Presidential Elections. For quite some time, extreme-right candidate Marine Le Pen led opinion polls in the first [...]
The post Macron and Le Pen neck to neck in first round polls – Time to buy EUR? appeared first on Forex Crunch.
The crash in crude continues more coming
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The ADP Non-Farm Payrolls report exceeded all expectations by showing a gain of no less than 298K private sector jobs in February. This easily topped projections of an average gain of 184K. In addition, the already-positive figure of +246K for January was upgraded to 261K. The ADP report was released relatively late in the month, as [...]
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EURAUD has been having a long correction on the H4 chart. The pair seems to find its strong support at 1.38978. The level already has produced a beautiful Pin bar. All these equations suggest that the pair might head towards the North soon. Let us have a look at the H1 chart of EURAUD…
EURAUD Free Forex Trading Signals – 8th March 2017
As we can see that the level of 1.38978 has produced two Double Bottoms on the H1 chart. Today’s price action has been bullish as well. Pay attention to the Pin bar, which has been created right at the Support zone. There is a strong level of resistance at 1.39334. If we get an Hourly breakout at that level, then buying the pair should be the best option for traders. The next strong level of resistance is at 1.40150. This means buyers are going to have enough room to ride on the potential wave that I have talked about.
Let us have a look at the summary of the trade
Traders please pay attention to the chart. We normally analyze the H4 chart. This is the H1 chart of EURAUD. The market has been quiet a little as far as the H4 chart is concerned. Thus, I had to find out the opportunity by switching the trading chart. To me, H1 chart is all right, but not as reliable as the H4 chart is. My personal belief is that traders should not use too low time frame such as 15M, 5M charts to analyze the market. These charts produce too much noise and often produce wrong signals.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: EURAUD Free Forex Trading Signals – 8th March 2017
The post EURAUD Free Forex Trading Signals – 8th March 2017 appeared first on Advanced Forex Strategies.
EUR/USD is trading at lower ground. After some dollar weakness and hopes for a positive outcome in the French elections, the tables have turned. However, will the euro rise now? A fresh opinion poll from France shows Marine Le Pen losing ground to centrist Emmanuel Macron. It is now 26% against 25%, closer than 27% to [...]
The post EUR/USD on the back foot as French polls tighten, renewed USD strength appeared first on Forex Crunch.
Pound/dollar is trading at 1.2207, the lowest level since January 17th. At that time, the US dollar was at its strongest and Theresa May laid out her Hard Brexit vision. The pair was trading at the 1.24 handle and a bit around this level for a few weeks but has deteriorated to lower ground. What [...]
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The Reserve Bank of Australia left the interest rate unchanged at 1.50% as widely expected. And also the accompanying statement seems somewhat unchanged. While they do mention that a stronger A$ could complicate matters, this is the same text that we have seen beforehand. Among the positive notes: the economy is doing OK and stronger global [...]
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USDJPY was bullish in the last week. However, the price failed to break a key resistance zone. The pair then produced a huge Engulfing H4 bearish candle from that zone. As things stand with the pair, the price might go towards the South if we get a breakout at the current support level. Let us have a look at the chart to find out, where the breakout should take place to offer us short entry…
USDJPY Free Forex Trading Signals – 7th March 2017
As we can see that, the pair produced that Engulfing candle from 114.550 area. Then, it came up to 113.575 to find its support. The price has been on consolidation. The level of 114.080 has been the resistance so far. We already have had H4 reversal candles at that level as well. If we get an hourly breakout at 113.575, then we should sell the pair by setting our stop loss at 114.080. An H4 breakout would be even better.
Let us have a look at the summary of the trade
Last week, we were eyeing on USDJPY to buy right from the zone that I have marked here. We were waiting for a bullish breakout then. However, this time we are eyeing to sell the pair. In fact, we are going to wait for a bearish breakout here. This is why there is a saying “Trend is your friend until it bends”. It seems the trend here has bent. We will get the confirmation upon a bearish breakout. Let us patiently wait to see what happens next.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: USDJPY Free Forex Trading Signals – 7th March 2017
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