[FOREX TIP] EURJPY Price Action Analysis – 30th June 2017

[FOREX TIP] GBPJPY Price Action Analysis – 29th June 2017

[FOREX TIP] USDJPY Price Action Analysis – 28th June 2017

[FOREX TIP] GBPCAD Price Action Analysis – 27th June 2017

[FOREX TIP] XAUUSD Price Action Analysis – 26th June 2017

[FOREX TIP] Weekly Forex News Events for EURUSD – 3rd to 7th July 2017

Weekly Forex News Events for EURUSD – 3rd to 7th July 2017

EURUSD had a bullish week. This week’s candle has engulfed the previous one. Thus, buyers will be interested to push the price higher up whenever opportunities come. Some high impact news events are to take place next week that might create volatility on EURUSD.

Monday-3^rd July- GMT 14.00

• ISM manufacturing PMI

Usually this news event creates volatility on the Intra-day time frames and often ends up producing long spikes.

Wednesday-5^th July- GMT 18.00

• FOMC meeting minute

This is going to be one big news events for the EURUSD traders. It often causes extreme volatility and creates opportunities. However, traders might as well not take entries on intraday charts just before this news event.

Thursday-6^th July-GMT 12.15

• ADP Non-farm employment change

This one creates huge volatility on the intraday charts as well. Moreover, a more high impact news event will be followed after this. Thus, EURUSD traders should be careful during this news event.

Thursday-6^th July-GMT 12.30

• Unemployment claims

This one is a massive news event, which could create extreme volatility. Opportunities can be found once the market is settled.

Thursday-6^th July-GMT 14.00

• ISM manufacturing PMI

Intra-day trader should be careful with their opened position before this news event.

Thursday-6^th July-GMT 15.00

• Crude oil inventories

It does not always create extreme volatility, but this could create volatility from time to time.

Friday-7^th July-GMT 12.30

• Average hourly earnings m/m
• Non-farm employment change
• Unemployment rate

Big traders are going to use these three news events to find their trading opportunities. The pair will get volatile next week during these three news events.

Friday-7^th July-GMT 15.00

• Fed monetary policy report

This might create long spikes on the intra-day charts to wrap up the trading week.

 

 

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 3rd to 7th July 2017

AUDUSD Weekly Forex Forecast – 3rd to 7th July 2017

The AUDUSD resumed the upside and broke above to new highs. Big picture we’re still trading in a very wide range. While we stay above 0.7500 and the broad-based dollar weakness persists, it’s wise to expect more upside but we’re facing a major hurdle at the 0.7740 which is the current year high. The stochastic indicator is already in overbought territory and turning lower which indicates that a retracement in underway and a possible retest of 0.7835 support level. A break and a daily close below this level will open the door for more downside towards 0.7555 followed by the big psychological number 0.7500.

The Australian economic calendar will bring on Monday the Building Permits which can be the catalyst for some volatility. The biggest risk event for the Australian dollar is on Tuesday when we have the RBA rate decision. The RBA is expected to keep rates on hold but and change in the policy rhetoric can produce some volatility. While on Thursday, traders need to pay attention to the Trade Balance figures.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 3rd to 7th July 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast – 3rd to 7th July 2017

USDCAD Weekly Forex Forecast – 3rd to 7th July 2017

The USDCAD has reached new lows in 2017 after breaking below the big psychological number 1.3000. The USDCAD recent sell off has reached extreme stochastic oversold reading, which can indicate that sooner rather than later a bounce should be expected. There is no much resistance above the current price until 1.3167 swing low. On the downside the next level of support only comes in at 1.2850. We have a very weak weekly close below the big psychological number 1.3000 so any attempt to break above can extend since there is no major resistance above. However, as long as we trade below 1.3000 expect the bearish trend to prevail.

The Canadian economic calendar will bring in Thursday the Trade Balance figures as well as he imports and export numbers. While on Friday we have the Unemployment rate, which is expected to come flat at 6.6%. The number of employed people has increased considerably since the beginning of the year showing an healthy labour market.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 3rd to 7th July 2017

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 26th to 30th June 2017

GBPUSD Weekly Forex Forecast – 3rd to 7th July 2017

The GBPUSD has rallied back above the big psychological number 1.3000 as the BOE Governor Mark Carney hint towards higher interest rates if the economic growth activity improves. The GBPUSD short-term technical pattern remains strongly bullish while we are trading above the 1.3000 big round number. The stochastic indicator is already in overbought conditions for quite some time, which can be a strong sign we need first a reset before more bullish momentum to be seen. Obviously, on the upside the next logical target is the 1.3047 current year high. On the downside the first level of support comes in at 1.2890 while a break and a daily close below will open up the door for a retest of 1.2800.

The UK economic calendar will bring on Monday the Markit Manufacturing PMI, which since the beginning of the year has shown a strong reading of the UK manufacturing activity. On Wednesday we have the FOMC minutes which should give traders more insights into the Fed’s next rate hike. On Friday we have the UK Trade Balance figures, but the real risk event is the NFP report. The market consensus expects an increase of 183k new jobs versus 138k previous reading. The unemployment rate is expected to come flat at 4.3%.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 3rd to 7th July 2017

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[FOREX TIP] USDCHF Weekly Forex Forecast – 3rd to 7th July 2017

USDCHF Weekly Forex Forecast – 3rd to 7th July 2017

Technical Outlook: USDCHF posted a decline towards 0.9564 and completed the descending triangle pattern. On Friday, price action promptly closed bullish off this support at 0.9564. A reversal continuation off this support could signal a move back to the upside. Initial resistance could be developed at 0.9730. However, watch for signs of a higher low being formed ahead of further gains. The resistance at 0.9730 is also hinting at a possible inverse head and shoulders pattern with the current low signaling the head. Therefore, watch for a rally to 0.9730 and a reversal for the right shoulder to be formed. Following which, USDCHF could signal a continuation towards 0.9861 where resistance must be tested..

Fundamental Outlook: A rather quiet week from Switzerland will see the monthly retail sales and inflation figures coming out. Focus will of course turn to the U.S. economic data coming out this week. The FOMC meeting minutes will stand out as investors look to clues on the central bank’s views. Any signs of dovishness among policy makers could potentially see the sentiment in the U.S. dollar weaken even further. Later in the week, June’s payrolls numbers will keep the volatility alive in the markets.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 3rd to 7th July 2017

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CryptoCurrency: Ethereum News July 02, 2017 at 04:32AM #ETH

ConsenSys Diligence Is Dedicated To The #Ethereum Ecosystem https://t.co/DRWifgMvPZ @ConsenSysLLC @GNSPS

[MORE]

CryptoCurrency: Ethereum News July 02, 2017 at 12:24AM #ETH

#Cryptocurrency Trading 101 https://t.co/cYGJd6NnTo

[MORE]

CryptoCurrency News: Tame the Whales? Developer Nick Johnson Thinks He Can Fix ICOs

A new proposal from Ethereum Foundation developer Nick Johnson takes aim at what some are calling chronic issues with ICOs.

Source

via CoinDesk

[FOREX TIP] USDJPY Weekly Forex Forecast – 3rd to 7th July 2017

USDJPY Weekly Forex Forecast – 3rd to 7th July 2017

Technical Outlook: USDJPY rallied briefly towards 113.00 resistance level but fell short of testing this resistance level firmly. Price action dipped back lower towards 111.84 and is now attempting another test towards the resistance level. Note that the support at 111.69 – 111.57 was not tested clearly, therefore there is a risk of a decline back to this support level. If USDJPY continues to the upside and hits the resistance level at 113.23 and 113.00, then there is scope for price action to post a reversal back to the support, unless the resistance level is clearly broken.

Fundamental Outlook: Japan starts off with the quarterly Tankan surveys. In the previous quarter (Q2), the Tankan surveys were seen stabilizing. As a result, an uptick in the BoJ’s Tankan surveys could improve sentiment in the market. The Bank of Japan will also be releasing its core CPI data next week. So far BoJ officials have remained muted as far as inflation is concerned. Last month, the BoJ’s core inflation was at just 0.2%, a long way away from the central bank’s 2% inflation target rate. USDJPY will also be influenced by the U.S economic data which includes the ISM manufacturing PMI coming out on Monday.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 3rd to 7th July 2017

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CryptoCurrency News: ICOs, Dumb Money and Ethereum's (Eth)ical Dilemma

Investment strategist Matt Prusak outlines why he predicts a massive correction for ether and the other tokens built on ethereum.

Source

via CoinDesk

[FOREX TIP] EURUSD Weekly Forex Forecast – 3rd to 7th July 2017

EURUSD Weekly Forex Forecast – 3rd to 7th July 2017

Technical Outlook: EURUSD surprised to the upside last week. The gains came on a surprisingly hawkish comments from the ECB President Mario Draghi. There was no pullback to the rally, and price action remained firmed as EURUSD tested $1.1400 handle and running higher to post a 2-year high. In the near term, it is best to watch for a correction. Short term support can be seen at 1.1400. A break down below this level could signal a sharp descent towards 1.1200 handle. To the upside, a higher high is required, which means that a breakout above 1.1449 will signal a continuation higher. However, taking long positions here is not recommended as EURUSD could be at risk of a decline.

Fundamental Outlook: Following the strong rally in the euro currency last week, the markets will be looking to a fresh set of economic data. The economic calendar will be dominated by the eurozone and regional manufacturing and services PMI. Although the data is unlikely to impact the markets much, services PMI is expected to slip, based on the flash estimates that were released few weeks ago. The ECB will also be releasing its monetary policy meeting minutes alongside retail sales and Germany’s factory orders and industrial production data. There are no speeches scheduled from the European Central Bank, so focus will turn back to the economic performance.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 3rd to 7th July 2017

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