[FOREX TIP] GBPJPY Free Forex Trading Signals – 13th March 2017

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

• Sell Stop Order: 139.460
• Stop Loss Level: 139.860
• Take Profit Target: 138.875

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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[FOREX TIP] AUDUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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.

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AUDUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast -13th to 17th March 2017

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.

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USDCAD Weekly Forex Forecast -13th to 17th March 2017

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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.

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GBPUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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[FOREX TIP] Weekly Forex News Events for EURUSD – 13th to 17th Mar 2017

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.

Monday- 13^th March-13.30 GMT

• ECB president Draghi speaks

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.

Tuesday-14^th March-12.30 GMT

• PPI m/m

This is a high impact news event as well, which normally produces spikes. It could be dangerous for Intra-day traders.

Wednesday-15^th March-12.30 GMT

• CPI m/m
• Core CPI m/m
• Core retail sales m/m
• Retail sales m/m

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.

Wednesday-15^th March-14.30 GMT

• Crude oil Inventories

Another news event, which is well known to produce spikes on the Intra-day charts.

Wednesday-15^th March-18.00 GMT

• FOMC Economic projections
• FOMC statement
• Federal Funds rate

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.

Thursday-16^th March- 18.30 GMT

• Building permits
• Philly Fed manufacturing index
• Unemployment claims

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.

Friday – 17^th March-14.00 GMT

• Prelim UOM consumer sentiment

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.

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[FOREX TIP] USDCHF Weekly Forex Forecast – 13th to 17th Mar 2017

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.

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USDCHF Weekly Forex Forecast – 13th to 17th Mar 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 13th to 17th Mar 2017

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.

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USDJPY Weekly Forex Forecast – 13th to 17th Mar 2017

 

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[FOREX TIP] EURUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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%.

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EURUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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