[FOREX TIP] Weekly Forex News Events for EURUSD – 24th to 28th April 2017

EURUSD finished the last week with a bullish tone. The price made some corrections on the H4 chart as well. As things seem with the pair so far, buyers might control the next week as well. Some high impact news events would create volatility on the pair next week. Let us have a look at those.

Monday- 24^th April GMT 08.00

• German IFO business climate

It might not create extreme volatility, but intraday traders should be careful with their position before this news event. A special event (the French Election) over the weekend might cause gaps when the market reopens on Monday.

Tuesday- 25^th April GMT 14.00

• CB consumer confidence

This is the news that is related to the USD. Thus, it might create more volatility than it sounds.

Wednesday- 26^th April GMT 14.30

• Crude oil Inventories

This is an important high impact news event. EURUSD traders should watch out the event to find out trading opportunities.

Thursday – 27^th April GMT 11.45

• EURO – Minimum bid rate

This is a very important high impact news event for EURUSD. Intraday traders must be careful with their opened position before the news event.

Thursday – 27^th April GMT 12.30

• ECB press conference
• Core Durable Goods orders m/m
• Unemployment claims

Three of them can create extreme volatility individually. Thus, traders should be very careful to deal with this news hour since they have been scheduled at the same time. No doubt, the pair will get extreme volatility around these news events. The price might end up producing huge spikes on the intraday charts.

Friday – 28^th April GMT 12.30

• Advance GDP q/q

It would be the last high impact news event in the coming week. Thus, traders might as well be watchful to this news event.

 

 

 

 

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[FOREX TIP] USDCHF Weekly Forex Forecast – 24th to 28th April 2017

USDCHF Weekly Forex Forecast – 24th to 28th April 2017

Technical Outlook: USDCHF posted a brief high before pulling back after breaking out from the falling pitchfork. However, this higher low could signal a bullish continuation if we get to see a positive open on Monday. USDCHF remains on track to test the resistance level of 1.0172 with the downside limited to the strong support level established at 0.9894 – 0.9861. Only a break down below this support level, which is possible could signal a strong downside in price. Watch the consequent lower highs being formed which puts this into a descending triangle pattern which could be bearish for prices.

Fundamental Outlook: A rather quiet week from the Swiss franc, in comparison to the euro and the yen. Still, expect to see some volatility in the Swiss franc as the currency is also likely to be bid up. On the economic front, the trade balance figures from Switzerland will be released this week. For the most part, USDCHF will be taking cues from the U.S. data which will see the release of the GDP numbers for the first quarter. Other U.S. data includes durable goods orders which is expected to increase.

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USDCHF Weekly Forex Forecast – 24th to 28th April 2017

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

 

USDJPY Weekly Forex Forecast – 24th to 28th April 2017USDJPY Weekly Forex Forecast – 24th to 28th April 2017

Technical Outlook: USDJPY has been relatively flat since the past few weeks but this could change on Monday’s open. In what could be a risk averse trade, USDJPY is at a risk of opening lower on Monday. Note the temporary support level at 108.430 which could be breached. To the downside, USDJPY remains vulnerable towards testing the next support at 104.270, while to the upside, any gains towards 111.650 will be most likely capped. The daily Stochastics is currently in the oversold level and slowly rising. On the weekly time frame we see modest bullish close this week, which could potentially be a spinning bottom. But this can be validated only on a bullish close this week. Therefore, look for a trend continuation on a break out from last week’s high and low range of 109.48 and 108.12.

Fundamental Outlook: The Japanese yen will no doubt remain as traders’ favorite heading into the weekend French elections. However, the Bank of Japan is due to meet on Thursday which could potentially unwind any safe haven positions on the yen. The Bank of Japan is expected to keep monetary policy unchanged at this week’s meeting and could possibly signal that it will continue with bond purchases until the inflation target is met. Besides the BoJ meeting, this week will also see the release of the nation wide and Tokyo CPI numbers including the unemployment data.

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USDJPY Weekly Forex Forecast – 24th to 28th April 2017

 

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[FOREX TIP] EURUSD Weekly Forex Forecast – 24th to 28th April 2017

EURUSD Weekly Forex Forecast – 24th to 28th April 2017

Technical Outlook: EURUSD rallied off the support near 1.063 – 1.0610 and reached the target of 1.0770 before turning lower by Friday’s closed. With the French elections on Sunday, EURUSD will be without a doubt opening with a gap. It will depend on the outcome of the elections, as there is chance for an upside gap to form above 1.0770, while at the same time, a downside gap will see EURUSD open lower below 1.06100. At the outset, we can expect to see very choppy price action for this one week as the second round of French presidential elections are held. Therefore, selling EURUSD near 1.0770 – 1.0800 and buying EURUSD near 1.0498 – 1.0500 will be the ideal play for the week ahead..

Fundamental Outlook: It will be a volatile week for the euro as the markets open on Monday. With the French elections due on Sunday and the top three candidates going neck to neck, the possibilities are vast for any outcome. Besides the French elections, the ECB’s meeting is also scheduled this week. No changes are expected from the central bank at this week’s meeting, but the event could further bring some volatility to the euro cross currencies. On the economic front, France and Spain will be reporting on the preliminary GDP numbers for the first quarter while the flash inflation estimates will be released later in the week.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 24th to 28th April 2017

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