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Saturday, July 22, 2017
[FOREX TIP] AUDUSD Weekly Forex Forecast – 24th to 28th July 2017
AUDUSD Weekly Forex Forecast – 24th to 28th July 2017
The AUDUSD come close to break above the big round number 0.8000 but it found resistance at 0.7988 from where it started to consolidate its recent gains. Next week we should expect last week high to act as resistance and see more consolidation as the current rally has run too fast in a very short period of time. The stochastic indicator still has room to move into oversold territory so we have time for a pull-back. Last week low 0.7785 is the first level of support from where AUDUSD can bounce. A break and a daily close below will extend the retracement even further down to the significant support level 0.7712.
We have some big risk events scheduled on the Australian economic calendar. On Wednesday we have the CPI inflation figures which dropped to 0.5% for two consecutive months. On Thursday we have the US Durable Goods orders as a proxy risk event. The Durable Goods orders are expected to inch higher to 3.1% versus -.08% previous reading.
Previous AUDUSD Weekly Forex Forecast
AUDUSD Weekly Forex Forecast – 24th to 28th July 2017
The post AUDUSD Weekly Forex Forecast – 24th to 28th July 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] USDCAD Weekly Forex Forecast – 24th to 28th July 2017
USDCAD Weekly Forex Forecast – 24th to 28th July 2017
The USDCAD has continued to extend to the downside but the sell-off found support at the big psychological number 1.2500. The USDCAD is trading at a new 14-months low after it sold off more than 1000 pips from the May high. A break below 1.2500 will extend the current move down to 1.2460 the 2016 low.
The stochastic indicator is in oversold territory but in strong trends like the one we are witnessing it doesn’t have much relevance. Any retracement should quickly fade away and should be short in time. The first level of resistance only comes at 1.2765 followed by the 1.2850. The Canadian economic calendar looks empty with not major risk event scheduled other than the monthly GDP figures scheduled on Friday.
Previous USDCAD Weekly Forex Forecast
USDCAD Weekly Forex Forecast – 24th to 28th July 2017
The post USDCAD Weekly Forex Forecast – 24th to 28th July 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] GBPUSD Weekly Forex Forecast – 24th to 28th July 2017
GBPUSD Weekly Forex Forecast – 24th to 28th July 2017
The GBPUSD has seen a retracement below the big psychological number 1.3000 and give back some of the previous gains. The weekly close below the big round number 1.3000 is bearish and can push GBPUSD to retest 1.2880 the next significant support level. A break and a daily close below 1.2280 will open up the door for a deeper retracement. The stochastic indicator has moved away from oversold territory so we have room to move to the downside further. However a daily break and close above the big round number 1.3000 will is again bullish and will put in focus last week high 1.3124 level.
The UK economic calendar will bring on Wednesday the Preliminary GDP figure for the second quarter of 2017. Based on the market consensus the UK economy is expected to grow by 0.3% in Q2 up from 0.2% previous reading. The annualized UK GDP rate is expected to slow down at a 1.7% rate. On Wednesday we also have the Fed interest rate decision but without press conference. Based on the market forecast the Fed is expected to keep interest rates unchanged at 1.25%. Friday we have the US GDP figures which based on the market consensus we should expect 1.3% growth rate in the second quarter of 2017.
Previous GBPUSD Weekly Forex Forecast
GBPUSD Weekly Forex Forecast – 24th to 28th July 2017
The post GBPUSD Weekly Forex Forecast – 24th to 28th July 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
CryptoCurrency News: Between a Rock and a Hard Fork: Jeff Garzik's Plan to Avoid a Bitcoin Split
Perhaps no coder is more at the center of bitcoin's raging scaling debate more than Jeff Garzik – here he talks about the network's future.
via CoinDesk
via CoinDesk
CryptoCurrency: Ethereum News July 23, 2017 at 02:01AM #ETH
.@stateofdm Regulatory Landscape of #DigitalMoney panel with @ettingerESQ @brianeklein @BitMintNews & Josh Boehm… https://t.co/btt4Xb9028
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[FOREX TIP] USDCHF Weekly Forex Forecast – 24th to 28th July 2017
USDCHF Weekly Forex Forecast – 24th to 28th July 2017
Technical Outlook: The Swiss franc continued to gain strength as USDCHF is seen at a one year low. Initially the rebound off 0.9564 support held but with a lower high being formed, price action eventually slipped past this support level. Regardless of the price action bias currently, there is still scope for USDCHF to post a reversal. The pending retest of resistance at 0.9894 – 0.9861 will most likely see USDCHF test this level in the near to medium term. For the moment however, any bullish bias will gain strength only on a daily close above 0.9564..
Fundamental Outlook: Not much of economic releases from Switzerland this week. Focus will therefore turn to the Federal Reserve meeting this week. The Fed will be holding its monthly monetary policy meeting on Wednesday, July 26. This meeting will not be followed by a press conference. No changes are expected to the Fed funds rate at this week’s meeting. Traders will very likely focus on the language and tone of the FOMC statement that will be key. So far the Fed has remained non-commital on the further pace of interest rates. This is a possibility that the Fed will make its intentions a bit more clearer at this week’s meeting.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 24th to 28th July 2017
The post USDCHF Weekly Forex Forecast – 24th to 28th July 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] USDJPY Weekly Forex Forecast – 24th to 28th July 2017
USDJPY Weekly Forex Forecast – 24th to 28th July 2017
Technical Outlook: USDJPY continued its losing streak as price fell to a 4-week low, closing on Friday at 111.11. Further declines could be seen coming with the major support at 110.80 in place. A near term retracement could see USDJPY test the resistance level at 111.57 – 111.69 region. The bullish bias gains momentum only on a break out above this level. Still, USDJPY will need to struggle to breakout from the next main resistance zone at 112.98 – 113.22. Most likely we could see USDJPY test this resistance level (112.98 – 113.22) into Wednesday’s FOMC meeting. To the downside, if 110.80 support fails to hold the declines, then USDJPY could be seen pushing lower towards the 109.00 handle that was previously tested in early June this years.
Fundamental Outlook: The economic calendar from Japan is very quiet with not much data to go by. Economic data includes the flash manufacturing PMI figures for July. The BoJ will also be releasing the monetary policy meeting minutes. Last week’s BoJ decision saw the central bank push back its inflation expectations while upgrading GDP projections. More clarity on this could be seen via the meeting minutes. Later in the week, the inflation figures and preliminary industrial production numbers will also be coming out.
Previous USDJPY Weekly Forex Forecast
USDJPY Weekly Forex Forecast – 24th to 28th July 2017
The post USDJPY Weekly Forex Forecast – 24th to 28th July 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] EURUSD Weekly Forex Forecast – 24th to 28th July 2017
EURUSD Weekly Forex Forecast – 24th to 28th July 2017
Technical Outlook: The EURUSD continued its strong rally last week and managed to maintain the bullish momentum. Weaker U.S. dollar alongside a slightly hawkish ECB saw the currency pair well supported to the upside. Price rallied to a two and half year high as a result closing on friday at 1.1664 but not before testing thish of 1.1682. This continued rally is likely to see some near term pullbacks. The first level of support is seen at 1.1565. A rebound off this level could signal further gains provided the recent highs can breached. In the event that EURUSD slips below 1.1565, then expect to see price action retest the next main support at 1.1489. The bullish bias remains intact and could only change in the event that EURUSD can slip below 1.1489 and potentially establish resistance below or at this level.
Fundamental Outlook: The week ahead from the Eurozone is relatively quiet. Focus turns to the forward looking indicators which includes the flash PMI figures for manufacturing and services sector. This will give a glimpse of how the two key sectors of the economy performed in the month of July. The German Ifo business climate data is also coming up this week. Towards the later part of the week, flash or preliminary inflation figures will be released for Germany and Spain. Spain’s flash GDP estimates are also expected. Overall, following a rather volatile ECB meeting last week, the euro currency will be taking a backseat.
Previous EURUSD Weekly Forex Forecast
EURUSD Weekly Forex Forecast – 24th to 28th July 2017
The post EURUSD Weekly Forex Forecast – 24th to 28th July 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
[FOREX TIP] Weekly Forex News Events for EURUSD – 24th to 28th July 2017
Weekly Forex News Events for EURUSD – 3rd to 7th July 2017
EURUSD had a bullish week. Thursday’s two high impact news events made the pair move with huge liquidity. There are some high impact news events in the next week as well. Let us have a look at those…
Tuesday- 25th July- 14.00 GMT
- CB consumer confidence
This news event could create huge volatility on the intraday time frames. It often produces long spikes. Thus, intraday traders should deal with this news event carefully.
Wednesday-26th Jully-14.30 GMT
- Crude oil inventories
This news event could make the EURUSD pair extremely volatile. It did not happen for a long time. However, as a trader of EURUSD, we have to count this news event since we never know when this news event makes the pair move like a rocket.
Thursday-27th July-12.30 GMT
- Core durable Goods orders m/m
- Unemployment claims
EURUSD traders please pay extra attention to this news hour. Two high impact news events are to take place at the same time. There is a high chance that the pair might get very volatile during this hour of trading. Some good opportunities might be offered to the traders as well once the news impact gets settled.
Friday-28th July-12.30 GMT
- Advance GDP q/q
This would be the last high impact news event to finish the week off. Many traders will come out with their positions by this time to close their trading week. Thus, the pair might get extra volatile than the expectation. Short time frame traders might find some trading opportunities after this news event though.
The post Weekly Forex News Events for EURUSD – 24th to 28th July 2017 appeared first on Advanced Forex Strategies.
from Advanced Forex Strategies
CryptoCurrency News: Life in Crypto Time
Trading expert Tim Enneking compares the crypto asset space with the early days of the internet, where time just seemed to fly faster.
via CoinDesk
via CoinDesk
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