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[FOREX TIP] AUDUSD Weekly Forex Forecast – 19th to 23rd June 2017

AUDUSD Weekly Forex Forecast – 19th to 23rd June 2017

The Aussie the same like all of the other commodity currencies has seen the most gains against the greenback during the past few weeks. The AUDUSD technical pattern looks strong and while we’re trading above the big psychological number 0.7500 there is a high change in the medium-term we can break to a new 2017 high.

Short-term we can see some more ranging activity as we’ve gone too fast in a very short period of time. We have an intraday support level between 0.7600 – 0.7580 zone where the downside can be held. On the upside, we have resistance at 0.7677 followed by March high 0.7748 which is also the yearly high price.

The Australian economic calendar will bring on Tuesday the RBA Meeting’s Minutes which will give traders more insights into the interest rate policy. Other than that there are no other major risk events that can distort the market volatility.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 19th to 23rd June 2017

The post AUDUSD Weekly Forex Forecast – 19th to 23rd June 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] USDCAD Weekly Forex Forecast – 19th to 23rd June 2017

USDCAD Weekly Forex Forecast – 19th to 23rd June 2017

The USDCAD technical pattern has made a strong stance on the bearish case after breaking downside through multiple important support levels. The risk now remains to the downside for further continuation. This is a strong bearish trend development that can send USDCAD below the big psychological number 1.3000.

The stochastic indicator has already started to move to the downside from overbought territory suggesting any rally should be limited both in time and price. The first level of resistance only comes in the 1.3300 – 1.33400 zone from where price can reverse to the downside. On the downside, the obvious first level of support is the last week low at 1.3164 followed by the big round number 1.3000.

The Canadian economic calendar will bring only some minor risk events. On Thursday we have the Canadian Retail Sales which have fallen to -0.2% due to lower energy prices. On Friday the CPI inflation figures have missed the market expectation for two consecutive months posting only a 0.4% increase.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 19th to 23rd June 2017

The post USDCAD Weekly Forex Forecast – 19th to 23rd June 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 19th to 23rd June 2017

GBPUSD Weekly Forex Forecast – 19th to 23rd June 2017

The GBPUSD has spent all the previous week in a very definite trading range. The low of the range is 1.2633 support level and previous week low. On the upside, we have an intraday resistance level at 1.2816 but the next important resistance level is around the 1.2900 level. A break above this level will expose a possible retest of the big psychological number 1.3000.

The stochastic indicator is already in overbought territory which suggests that the higher probability is for any rally to be quickly faded. The first intraday support level is at 1.2720 while a break below 1.2633 will open the door for more downside and a possible retest of the round number 1.2500. The UK economic calendar looks empty, however the biggest risk event for the GBPUSD exchange rate is the start of Brexit negotiation scheduled to begin on Monday, June 19. The UK Prime Minister May has reaffirmed the UK position to start the negotiation early despite the UK election results which can make it harder now to obtain a favorable deal with Brussels. Carney’s Mansion House speech will be delivered on Tuesday which will be another major risk event after the BOE has seen 3 dissidents voting for a hike in interest rates.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 19th to 23rd June 2017

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[FOREX TIP] USDCHF Weekly Forex Forecast – 19th to 23rd June 2017

 

USDCHF Weekly Forex Forecast – 19th to 23rd June 2017

Technical Outlook: USDCHF has formed a bottom with price consolidating near 0.9730. A continuation to the upside is required for USDCHF to test the previously broken support level of 0.9894 – 0.9861. If resistance is established here on the counter trend move, USDCHF could be seen pushing lower in the coming weeks. The downside target near 0.9564 remains in sight with the bias to the downside. In the near term, USDCHF could remain range bound with the possible rally to 0.9894 – 0.9861 likely to see renewed selling enter the market. A breakout above 0.9894 – 0.9861 is essential to shift the bias to the upside..

Fundamental Outlook: Not much of data to look to as far as the Swiss franc is concerned. However, the Swiss National Bank Chairman, Thomas Jordan is scheduled to speak on Tuesday, 20 June. The Chairman’s speech comes after last week’s SNB’s decision to leave the 3-month LIBOR rate unchanged at -0.75% on sight deposits. The SNB also noted that it would continue to intervene in the markets to weaken the Swiss franc if needed.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 19th to 23rd June 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 19th to 23rd June 2017

USDJPY Weekly Forex Forecast – 19th to 23rd June 2017

Technical Outlook: USDJPY broke past the resistance level at 110.14 – 110.04 and managed to push higher. However, price action is seen reversing the gains just below the 111.57 – 111.69 resistance level. In the near term, the declines could see USDJPY slip towards 110.14 – 110.04 support level which previously served as resistance. Establishing support here could signal a continuation to the upside with the potential for price action to test the resistance level of 111.57 – 111.69. A breakout above this resistance level will see a continuation towards 113.00.

Fundamental Outlook: From Japan, the economic calendar is comprised of some forward looking economic indicators. The flash manufacturing PMI is due on Friday while earlier in the week, the BoJ will be releasing its monetary policy meeting minutes. Last week, the BoJ opted to leave interest rates and QE unchanged, at -0.10% and 80 trillion yen respectively. The central bank gave a slightly upbeat tone on the GDP, but remained subdued on inflation forecasts. For the most part, USDJPY will be driven by a number of Fed speeches that are due next week.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 19th to 23rd June 2017

The post USDJPY Weekly Forex Forecast – 19th to 23rd June 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] EURUSD Weekly Forex Forecast – 19th to 23rd June 2017

EURUSD Weekly Forex Forecast – 19th to 23rd June 2017

Technical Outlook: EURUSD managed to recover the FOMC induced losses on Friday as price action closed at $1.1197. This near term retracement coincides with the resistance level of 1.1200 – 1.1197. A reversal off this level could signal a continuation to the downside. However, a close above this level will see EURUSD continue to push higher with a strong likelihood of the bias shifting to the upside. Watch for the range between 1.1200 and 1.1126. A breakout from either of these two levels will signal a continuation in the near term. To the upside, above 1.1200, EURUSD could be seen testing the highs near 1.1300, while to the downside 1.0950 remains the downside target in the medium term below 1.1126.

Fundamental Outlook: The week ahead will be rather quiet as far as the Eurozone is concerned. Most of the economic calendar which is relatively light will focus on the flash PMI’s on manufacturing and services sector. Germany’s producer prices index data is also due on Tuesday although it is unlikely to impact the common currency much. Given that not much from the Eurozone is coming up this week, traders will likely shift attention to the Brexit talks that are due to start on Monday, June 19.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 19th to 23rd June 2017

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CryptoCurrency News: Coinbase to White Hat Hacker: We Don't Want Your Bitcoin

Black hat hackers are asking for bitcoin. White hat hackers, at the behest of clients need to pay up. But Coinbase is kicking the 'good guys' out.

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CryptoCurrency News: Ethereum's ERC-20 Tokens Are All the Rage. But What Are They Anyway?

At the root of a high-profile wave of mega-ICO fundraising efforts on ethereum is a token standard called ERC-20. So what is it anyway?

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