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[FOREX TIP] AUDUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The AUDUSD has been trapped inside a very narrow range few pips below the big psychological resistance 0.8000. The 0.8000 resistance level remain the key level and the line in the sand, a break and a daily close above this figure will open the door for the bullish trend to resume.

The stochastic indicator is already in overbought territory a signal that can trigger early in the week a retest of intraday support level 0.7875. A break and a daily close below support level will open up the door for a retest of 0.7790. However, as long as we trade within the limits of the current range expect more consolidation.On the Australian economic calendar we can’t see any notable risk event so expect the market to be driven more by the technical levels.

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AUDUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post AUDUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The USDCAD continued to drift lower in a very slow market and a tight range. The weekly break and close below the big psychological number is very bearish and now there is a possibility to take the current year low of 1.2410. A break and a daily close below can open up the door for more downside pressure and a retest of next important support level 1.2300.

However, as long as we stay above 1.2410, we can still see a bounce early in the week since the stochastic indicator is in an oversold condition. The first level of resistance is obviously 1.2500 followed by 1.2570. A daily break and close above can open up the door for a deeper retracement towards 1.2750.The only notable risk event on the Canadian economic calendar is the second quarter GDP reading which is on track to hit 3.7% annualized rate.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post USDCAD Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The GBPUSD has ended the previous week almost on a flat note. Last week sell off found a bottom at 1.2774 which now is the key support level going forward into the new week. However, first we need a break below 1.2840 to open up for a possible retest of last week low. The stochastic indicator is already in oversold conditions so we might see first at least a pause in the current rally. On the upside 1.2918 intraday resistances is the first hurdle for the bulls. But, the major resistance level remains the big psychological number 1.3000. A daily break and close above this figure is very bullish and it can be the start of another leg higher possibly toward a new year high.

The UK economic calendar will not bring any notable risk event that can prop higher the GBP/USD volatility. Monday we’ll have low activity due to Summer Bank Holiday. The only significant risk event is the Inflation Report Hearings scheduled on Wednesday. From the other side of the Atlantic Ocean, we have the NFP report on the first Friday of a new month. Based on the market consensus we should expect a figure below the 200k mark of only 185k versus 209k previous reading.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017

The post GBPUSD Weekly Forex Forecast – 28th Aug to 1st Sept 2017 appeared first on Advanced Forex Strategies.

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