The US dollar had a mostly positive week last week, but against some currencies, it is still struggling. What about the technicals on the US dollar index? Here is their view, courtesy of eFXnews: Bank of America Merrill Lynch FX Technical Strategy Research notes that the weekly chart of the DXY is most oversold according [...]
The post USD Index: After A Bounce, A Deeper Wave ‘C’ Could Extend This Summer – BofAML appeared first on Forex Crunch.
Weekly Forex News Events for EURUSD – 19th to 23rd June 2017
EURUSD produced a Spinning Top candle on the Weekly chart last week. As things stand, the price seems to be caught within a horizontal channel. Traders would love to see a breakout of the channel. What is interesting is if a breakout really happens in the next week that would probably be a very technical breakout.
There are not many high impact news events in the next week. Thus, the pair would run on technical rather than fundamental as far as I am concerned. However, there are still two high impact news events that have to be dealt carefully by the traders since they could create volatility on EURUSD. Let us have a look at those…
This one is a typical high impact news event, which could create huge volatility. In fact, it often ends up producing long spikes on the Intra-day charts. Thus, EURUSD intra-day traders have to be careful before this news event.
Certainly, this is going to be the news event, which EURUSD traders have to give a lot of emphasis on. This news event usually creates huge volatility. Since EURUSD traders will not have to face that many news events coming week, so this one will be given importance by the traders. This week’s forecast is 241K. Last week’s claim was 237 K. This means they are expecting more unemployment next week. Now lets us wait and see what comes out and how the market reacts to it.
The post Weekly Forex News Events for EURUSD – 19th to 23rd June 2017 appeared first on Advanced Forex Strategies.
GBP/USD reversed directions and posted modest gains this week. The pair closed at 1.2776. There are 7 events this week. Here is an outlook for the highlights of this week and an updated technical analysis for GBP/USD. British inflation levels continue to rise, but wage growth and unemployment rolls missed their estimates. As well, retail sales posted [...]
The post GBP/USD Forecast June 19-23 appeared first on Forex Crunch.
The inconclusive UK elections found Theresa May scrambling to form a coalition. She is pressured to soften her stance on Brexit, but the UK could face a fresh round of elections should her coalition crumble. UK data is also important with rising inflation boosting the pound. The BOE convenes amid a worsening dilemma about interest [...]
The post The week: ahead US housing data and time to digest appeared first on Forex Crunch.
