[FOREX TIP] USDCHF Weekly Forex Forecast – 17th to 21st April 2017

USDCHF Weekly Forex Forecast – 17th to 21st April 2017

Technical Outlook:  USDCHF has been giving up some of its gains as price fell to 1.0007 briefly last week. With the upside break out in the USDCHF, we can expect to see the bullish momentum take the currency pair further to the upside towards 1.01730 resistance level which was previously tested. This bullish bias remains invalidated only on a break down from the previous low at 1.0007 in which case USDCHF could seen pushing lower towards the next main support at 0.9894 – 0.9861.

Fundamental Outlook: Economic data from Switzerland is quiet with no events lined up, following last week’s PPI data. Therefore, USDCHF will be looking at cues from the U.S. data which includes building permits which is expected to rise 1.25 million. Other data from the U.S. includes the industrial production and capacity utilization rate. Flash services and manufacturing PMI numbers are also expected to be released over the week. USDCHF will also be coming under the influence of the market sentiment as well as investors are likely to take safety in the safe haven status of the Swiss franc amid ongoing uncertainty in the global markets.

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USDCHF Weekly Forex Forecast – 17th to 21st April 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 17th to 21st April 2017

USDJPY Weekly Forex Forecast – 17th to 21st April 2017

Technical Outlook: USDJPY continues its downside trajectory with prices breaking past the 110.00 support level. The downside decline is expected to keep the bearish momentum going which could see the dollar slide towards the next main support at 104.27. This is a support level that is pending a retest and therefore makes it for a prime target. The lack of any economic catalysts both from the U.S. or Japan puts USDJPY vulnerable to the market sentiment.

Fundamental Outlook: A quiet week from Japan with only the BoJ Governor Kuroda’s speech standing out. Following the BoJ’s speech, the second tier data from Japan will include the flash manufacturing PMI and the trade balance figures. The data is unlikely to bring out any major changes with focus likely to remain on the risk sentiment. Global factors such as the U.S. – North Korea tensions and the Syria strikes will still remain on the forefront.

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USDJPY Weekly Forex Forecast – 17th to 21st April 2017

 

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[FOREX TIP] EURUSD Weekly Forex Forecast – 17th to 21st April 2017

EURUSD Weekly Forex Forecast – 17th to 21st Mar 2017

Technical Outlook: EURUSD has been consolidating near the 1.0630 – 1.0610 support level for the most of last week and price action even attempted to breakout above this support level but failed. By Friday’s close, EURUSD was seen settling back at the support level. The risks are currently balanced as price could shift in either direction. To the upside, we need to see a break out fro the falling median line which will signal the upside move towards the target of 1.0770. Alternately, to the downside, a break down below 1.0770 will see EURUSD decline towards last week’s lows of 1.0570 – 1.0550 which could be tested once again while also opening further downside risks towards 1.0500.

Fundamental Outlook: The week ahead from the Eurozone will see mostly second tier data which includes the flash PMI’s across manufacturing and services sectors. No major changes are expected but for a modest improvement from the numbers in March. The inflation data is expected to confirm that eurozone consumer prices declined, rising just 1.5% in March on the headline while core CPI is forecast to rise 0.7%, slower than the 0.8% increase registered previously. With the French elections nearing, investors will be moving into a risk averse position ahead of the first round of the elections due on Sunday. Therefore, any opinion polls released during the week could increase the risk in French bonds and as a result impact the euro single currency as well.

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EURUSD Weekly Forex Forecast – 17th to 21st Mar 2017

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