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Saturday, June 24, 2017
[FOREX TIP] AUDUSD Weekly Forex Forecast – 19th to 23rd June 2017
AUDUSD Weekly Forex Forecast – 26th to 30th June 2017
The AUDUSD has made a pause and is consolidating the gains made in the past few weeks. The trend remains to the upside and ultimately we should see another attempt to break higher. For the bullish trend to resume, we need a break above last week high 0.7635 which is the resistance level of the current price range. On the downside the first area of support came at 0.7435 last week low closely followed by the big round number 0.7500 which needs to hold the downside in order for the bullish trend to remain intact.
The stochastic indicator is already in overbought territory, so we should expect to see a retest of support early in the week to give it time for the stochastic indicator to reset. The Australian economic calendar looks mild with no major risk events scheduled. The only proxy risk event that can impact the AUDUSD exchange rate is the Chinese Manufacturing PMI data scheduled on Friday.
Previous AUDUSD Weekly Forex Forecast
AUDUSD Weekly Forex Forecast – 26th to 30th June 2017
The post AUDUSD Weekly Forex Forecast – 19th to 23rd June 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] USDCAD Weekly Forex Forecast – 26th to 30th June 2017
USDCAD Weekly Forex Forecast – 26th to 30th June 2017
The USDCAD technical pattern is trapped in a very precise trading range, but the prevailing trend remains strongly bearish and in this case we’re more prone to break to the downside. The first level of resistance comes at previous week high 1.3347 and any rallies above this level should quickly fade away. The major support level remains 1.3167 while a break below will expose the 1.3000 big psychological number.
The stochastic indicator is in extreme oversold conditions so we might expect to see more ranges during the first day of the week. The Canadian economic calendar looks mild with no particular risk event scheduled so we should expect USDCAD to be technically driven.
Previous USDCAD Weekly Forex Forecast
USDCAD Weekly Forex Forecast – 26th to 30th June 2017
The post USDCAD Weekly Forex Forecast – 26th to 30th June 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] GBPUSD Weekly Forex Forecast – 26th to 30th June 2017
GBPUSD Weekly Forex Forecast – 26th to 30th June 2017
The GBPUSD managed to break below previous week low after a very aggressive sell off, but we’re again moving in a very narrow range. The summer trading conditions should impact the liquidity, thus we can expect to see more ranges in the coming weeks. The focus is back on the intraday resistance level 1.2800 which is also a round number and which is the line in the sand for the bears.
The stochastic indicator is already in overbought territory, so the 1.2800 can hold the upside; however a break and a daily close above 1.2800 will open up the door for a retest of the 1.3000 big psychological number. On the downside we have the first area of support at 1.2635 followed by last week low 1.2589. A daily break and close below last week low will open up the door for a retest of the big psychological number 1.2500.
The UK economic calendar has not scheduled big risk events with the exception of the Inflation Report Hearings scheduled on Tuesday. However, we can note other major risk events coming from the other side of the Atlantic. The US Durable Goods orders are an important piece of risk event and the market expectation is for soft reading that can push the dollar down. On Thursday we have the US GDP final figure for the first quarter and trader should expect a flat reading of 1.2%. While on Friday the UK GDP figures are the main risk event.
Previous GBPUSD Weekly Forex Forecast
GBPUSD Weekly Forex Forecast – 26th to 30th June 2017
The post GBPUSD Weekly Forex Forecast – 26th to 30th June 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX NEWS] GBP/USD: High uncertainty amid the Brexit Anniversary
One year after Britain voted to leave the European Union, GBP/USD is still lower. What’s next amid this uncertainty? Here is their view, courtesy of eFXnews: GBP: Maximum Uncertainty To Bite N-Term But Staying Bullish M-Term – Barclays Barclays Capital FX Strategy Research is bearish on GBP in the near-term but remains bullish in the [...]
The post GBP/USD: High uncertainty amid the Brexit Anniversary appeared first on Forex Crunch.
via Forex Crunch
CryptoCurrency: Ethereum News June 24, 2017 at 08:00PM #ETH
Building Blocks for America’s Financial Future - Is the US dragging its feet? https://t.co/BVHgFJkYSO #RegTech #Blockchain
[MORE]
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CryptoCurrency News: Analyzing Ether: A Long-Time Bitcoin Investor's Skeptical Take
Miner and investor 'P4man' looks at the altcoin market to see if there is a credible alternative to bitcoin. Can ethereum cut the mustard?
via CoinDesk
via CoinDesk
CryptoCurrency News: Changing Exchanges: Will the Coinbase of Tomorrow Be Decentralized?
A new wave of decentralized cryptocurrency exchanges that exist almost entirely on a blockchain could do away with middlemen.
via CoinDesk
via CoinDesk
[FOREX TIP] USDCHF Weekly Forex Forecast – 26th to 30th June 2017
USDCHF Weekly Forex Forecast – 26th to 30th June 2017
Technical Outlook: USDCHF extended the declines last week, however there is scope that price action could be forming a higher low. A break out above 0.9730 is required for USDCHF to reverse the current trend. The higher low along with a breakout above 0.9730 will signal a continuation towards 0.9861 where the previously breached support level could be tested for resistance. To the downside, a continuation could see USDCHF extend the declines back to the previous low and potentially complete the descending triangle pattern, targeting 0.9564.
Fundamental Outlook: Data from Switzerland is very limited leaving most of the heavy lifting from the U.S. dollar. A rather busy week from the U.S., data includes the durable goods orders and the pending home sales report in the early part of the week. Mid-week, we get to see the final GDP numbers from the U.S. for the quarter ending March 2017. At the second revision, the GDP numbers were revised higher to 1.2%, from 0.9% previously estimated. The personal consumption expenditure data and the personal income figures will also give a glimpse into the state of the households in the United States.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 26th to 30th June 2017
The post USDCHF Weekly Forex Forecast – 26th to 30th June 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] USDJPY Weekly Forex Forecast – 26th to 30th June 2017
USDJPY Weekly Forex Forecast – 26th to 30th June 2017
Technical Outlook: USDJPY has failed to break past the resistance level near 111.69 – 111.58 for the most part last week. However, price action has maintained a tight range which suggests a near term breakout. To the downside, USDJPY could be seen testing the support at 110.14 – 110.04 levels, while to the upside, USDJPY could be aiming for 112.98 – 112.23 at the very least. However, for the upside to be established, USDJPY needs to break past the resistance level before aiming for further gains. A convincing daily close above 111.69 is required to establish the upside bias.
Fundamental Outlook: Data from Japan this week will include Sunday’s Tankan manufacturing survey data. This quarterly data will report on the business outlook on the economy in both the manufacturing and nonmanufacturing sectors.Inflation data will also be released this week. The data comes after the Bank of Japan’s monetary policy meeting last week. No changes were made to monetary policy and recent comments from BoJ officials suggested that they were in hurry to tighten monetary policy. Inflation in Japan continues to evade the central bank’s 2% target rate. With falling oil prices, this week’s inflation estimates could remain subdued.
Previous USDJPY Weekly Forex Forecast
USDJPY Weekly Forex Forecast – 26th to 30th June 2017
The post USDJPY Weekly Forex Forecast – 26th to 30th June 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] EURUSD Weekly Forex Forecast – 26th to 30th June 2017
EURUSD Weekly Forex Forecast – 26th to 30th June 2017
Technical Outlook: EURUSD rallied to the resistance level of 1.1200 by Friday’s close. This suggests that near term downside is likely to prevail in the EURUSD with the previous support tested at 1.1126 likely to be tested in the near term. Further downside can be seen coming on a break down below this support at 1.1126, in which case you can expect the declines to come down to 1.0950. Alternately, if EURUSD breaks past 1.1200, you can expect further gains to come by with price action likely aiming for 1.1300 or at the very least, the previous highs near 1.1299.
Fundamental Outlook: The week ahead could be an important one for the EURUSD especially with Friday’s flash inflation estimates from the Eurozone for the month of June. Following the pull back in May where headline inflation rose just 1.4% and core inflation rose 0.9%, the markets will be looking whether inflation managed to stabilize in June. A weaker inflation data could potentially dent the bullish market sentiment on the euro currency. Besides the inflation estimates, other data over the week will include German retail sales and the Ifo business climate. Regional inflation data from Spain, Germany and Italy will also be coming out giving a better view on the flash inflation estimates.
Previous EURUSD Weekly Forex Forecast
EURUSD Weekly Forex Forecast – 26th to 30th June 2017
The post EURUSD Weekly Forex Forecast – 26th to 30th June 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] Weekly Forex News Events for EURUSD – 26th to 30th June 2017
EURUSD produced a weekly bullish Pin Bar candle on the chart. The price has been within a horizontal channel and traders would love to see a breakout towards either side. In the coming week, there are number of high impact news events that might create volatility on the pair and make the pair make the desired breakout. Let us see what those news events are…
Monday-26th June-12.30 GMT
Core Durable Goods order m/m
Usually produces long spikes on the Intra-day charts and sweeps off the stop losses.
Monday-26th June-17.30 GMT
ECB president Draghi speaks
This is one important news event. It has to be dealt carefully by EURUSD traders.
Tuesday-27th June-08.00 GMT
ECB president Draghi speaks
Draghi is going to give another speech on this day. Do not think it would create as much volatility as it would on Monday though. However, intra-day charts will definitely have impact of it.
Tuesday-27th June-14.00 GMT
CB consumer confidence
Another news event, which has to be carefully dealt by the intraday traders.
Tuesday-27th June-17.00 GMT
Fed chair Yellen speaks
This news event does not usually create extreme volatility. However, if it does, it could make the pair be very volatile.
Wednesday-28th June-14.30 GMT
Crude Oil Inventories
Another news event, which creates volatility on the Intra-day charts.
Thursday- 29th June-12.30 GMT
Final GDP q/q
Unemployment claims
Technically, these two news events are going to be the week’s last two high impact news events for EURUSD. As usual, traders must be extra careful with “Unemployment claims” here and use it to find opportunities to take entries accordingly.
The post Weekly Forex News Events for EURUSD – 26th to 30th June 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
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