[FOREX TIP] USDCHF Weekly Forex Forecast – 17th to 21st July 2017

USDCHF Weekly Forex Forecast – 17th to 21st July 2017

Technical Outlook: USDCHF has been consolidating within 0.9730 ad 0.9564 levels of resistance and support. This sideways range could be breached with a break out from either of the two levels. To the downside, further weakness can be seen if USDCHF breaks out from the 0.9564 support. To the upside, above 0.9730, we can expect to see price action retest the breached support level at 0.9894 – 0.9861 where resistance could be established. Either ways, the there is a slight hint of a bullish bias based on the current consolidation levels.

Fundamental Outlook: The economic calendar from Switzerland is void of any key economic reports this week. Therefore, focus will be on the larger market sentiment and data from the United States which will be the key driver. In the U.S. the economic calendar includes the U.S. import prices and building permits data as well as housing starts. While most of these data points are second tier, focus will be broadly on the U.S. housing markets, which is considered to be a leading indicator of the economy. Therefore, a weaker than expected reading could potentially dent the sentiment in the U.S. dollar, which will give the Swiss franc a boost..

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 17th to 21st July 2017

The post USDCHF Weekly Forex Forecast – 17th to 21st July 2017 appeared first on Advanced Forex Strategies.

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CryptoCurrency News: Bitcoin Price Drops Near $2,000 as Crypto Markets Fall Toward $70 Billion

The price of bitcoin hit a 49-day low today, falling near $2,000 for the first time in weeks amid a broad sell-off across crypto assets. The value of the total supply of all cryptocurrencies and crypto assets tracked similarly, dropping to $72bn, a figure that was 37 percent lower than its all-time high of $115bn […]

Source

via CoinDesk

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

USDJPY Weekly Forex Forecast – 17th to 21st July 2017

Technical Outlook: USDJPY broke below the support level at 113.23 – 112.98. Any attempts to retrace the losses will likely see this support level turning to resistance. To the downside, the initial support at 111.69 – 111.57 will be tested. A break down below this level could signal further declines to the next major support at 110.80. A reversal off this level could be expected although USDJPY could remain range bound within the 110.80 and 111.69 levels of support and resistance. To the upside, bullish bias can be established only on a breakout above 113.23. In this case, USDJPY could be seen posting strong gains while retaining the bullish bias.

Fundamental Outlook: With not much of economic data from Japan this coming week, the BoJ’s monetary policy meeting will be the key event for the Japanese yen this week. No changes are expected from the central bank but the BoJ could potentially discuss forward guidance. The markets are currently hawkish on the BoJ and expect to see that the next policy change will be to the upside. This means that there is a potential for the central bank to begin QE tapering rather than continue with expansion. The Japanese interest rates have held steady at -0.10% so far and quite recently the BoJ has begun to charge some foreign investments with the negative interest rate already. All said and done the BoJ’s meeting this week could most likely become a non-event..

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 17th to 21st July 2017

The post USDJPY Weekly Forex Forecast – 17th to 21st July 2017 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

CryptoCurrency: Ethereum News July 15, 2017 at 07:00PM #ETH

Bridging The Gap Between Economies https://t.co/XyztIEMJrT #virtualcurrencies

[MORE]

CryptoCurrency News: How Initial Coin Offerings Sidestepped Traditional Disruption Models

Medici Ventures' Steve Hopkins dissects developments in blockchain, arguing that the tech's use for fundraising sets the stage for massive disruption.

Source

via CoinDesk

CryptoCurrency News: Mr. Blockchain Goes to Washington

CoinDesk profiles a recent effort to educate US lawmakers on the impact and benefits of blockchain technology in Washington, DC.

Source

via CoinDesk

[FOREX TIP] EURUSD Weekly Forex Forecast – 17th to 21st July 2017

 

EURUSD Weekly Forex Forecast – 17th to 21st July 2017

Technical Outlook: The EURUSD continued to maintain the bullish bias with price posting a strong reversal after falling to 1.1400 handle. The upside momentum is currently showing some weakness with the 4-hour Stochastics currently still lower. There is also the possibility that EURUSD is carving out a head and shoulders pattern. Watch for a reversal at the current level of 1.1470. A reversal here could mark the right shoulder with EURUSD likely to push lower. A break down below 1.1400 will trigger the head and shoulders pattern. To the downside, support is seen at 1.1200 which could be tested. Alternately, if EURUSD attempts to push higher then further gains can come only on a breach of the previous high nearr 1.1484.

Fundamental Outlook: It is going to be a busy week for the euro currency. Amid a rather quiet economic calendar, this Thursday’s European Central Bank (ECB) meeting will be the highlight. No monetary policy or QE changes are expected at this week’s ECB meeting. Traders will however be focusing on the forward guidance from the ECB. Given the hawkish statements made by ECB president Mario Draghi, investors will be looking at the timing on when the next taper to the ECB’s QE program will come. Expectations are rife that this could be as early as September. Draghi will of course need to play a balancing act to keep the euro subdued while at the same time deliver the hawkish statement. Besides the ECB’s meeting, other data points include Tuesday’s final inflation figures from the Eurozone.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 17th to 21st July 2017

The post EURUSD Weekly Forex Forecast – 17th to 21st July 2017 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies