[FOREX TIP] Weekly Forex News Events for EURUSD – 4th to 8th Dec 2017

EURUSD had a bearish week. However, the weekly candle suggests that it is a Bullish Inside bar. Thus, as far as Candlestick pattern is concerned the next might be a strong Bullish week. A number of high impact news events are to take place in the next week that could create the pair very volatile. Traders should have a solid trading plan to deal with those news events. Let us have a look at those news events.

Tuesday – 5^th December 2017- GMT 16.00

• ISM Manufacturing PMI

This news event could make the pair be volatile on the intraday charts.

Wednesday – 6^th December 2017- GMT 14.15

• ADP Non-Farm employment change

Intraday traders should be careful for this news event as well since it often produces long spikes on the intraday charts.

Wednesday-6^th December 2017- GMT 16.30

• Crude oil inventories

It does not always make the pair volatile, but it has the potential to make the pair be very volatile on its day.

Thursday- 7^th December 2017- GMT 14.30

• Unemployment Claims

This is a news event where traders will keep their eyes to find trading opportunity once, the market is settled after the news event.

Thursday- 7^th December 2017- GMT 17.00

• ECB president Draghi speaks

The EURO is bound to be shaken for Draghi’s speech. Thus, EURUSD pair might get extremely volatile just before and after his speech.

Friday – 8^th December 2017- GMT 14.30

• Average hourly earnings m/m
• Non-Farm employment change
• Unemployment change

This is probably the biggest news events day of the month. Intraday day traders should be careful with their opened intraday positions before this hour since the big traders are going to jump into the market to make money around these news events.

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 4th to 8th Dec 2017

AUDUSD Weekly Forex Forecast – 4th to 8th Dec 2017

The Aussie couldn’t manage to post a weekly close above the resistance level 0.7625 but last Friday can have the potential to continue once we get a daily close above 0.7625. However, a break and a daily close below 0.7530, but more importantly below the big psychological number 0.7500 can rapidly change the picture into a bearish scenario. The stochastic indicator is not yet in overbought territory and if we manage to break above 0.7625 early in the week then there is a big probability that we can see the next resistance level 0.7730 hit by the end of the week.

The Australian economic calendar has scheduled some major risk events that can drive the AUD/USD volatility. On Tuesday, we have the RBA interest rate decision and while the consensus is for no change in the monetary policy the market driver stand in the RBA rhetoric. There are growing speculations that the RBA will start raising rates in the first half of 2018, in which case there is big potential of AUD/USD breaking higher.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 4th to 8th Dec 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast – 4th to 8th Dec 2017

USDCAD Weekly Forex Forecast – 4th to 8th Dec 2017

The USDCAD ended up the week on the wrong foot after it almost broke to new highs. Put in perspective, last Friday’s sell-off can be the beginning of a much bigger retracement and possibly a resumption of the bearish trend started in 2017. However, since the stochastic indicator is in oversold territory, we can’t rule out that first, we can see early in the week a rally towards intraday resistance 1.2784. On the downside, the support level 1.2660 will define the line between trend continuation and more consolidation. A daily close below 1.2660 will open the door for a retest of the 1.2550 and possibly even the big psychological number 1.2500.

In terms of risk events, the Canadian economic calendar has scheduled some important risk events that can be the catalyst for some volatility. On Tuesday, we have the Trade Balance figures but the highlight risk event of the week only comes on Wednesday when we have the BOC interest rate decision. The market consensus is for a no change in the interest monetary policy.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 4th to 8th Dec 2017

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 4th to 8th Dec 2017

GBPUSD Weekly Forex Forecast – 4th to 8th Dec 2017

The GBPUSD has taken a big step on the upside opening the door for more gains in the weeks to come. However, short-term price action still remains challenging as it can take many forms and shapes. Nevertheless, as long as we’re trading above the 1.3450 on a daily closing basis we should expect the bullish momentum to prevail. The weekly close below the big psychological number 1.3500, at first, it might look bearish but we’re expecting the bullish trend to resume once we have a daily close back above 1.3500. The stochastic indicator as expected is resetting from overbought territory which is a bullish sign.

On the upside, the next major level is the 2017 year high 1.3657 which can act as a magnet and drive price upwards. The UK economic calendar doesn’t have much to offer in terms of risk events but the usual Brexit talks can produce short-lived spikes in the market. On Friday the US Government shutdown limit will be the highlight risk event that can impact all US dollar crosses so traders need to pay close attention.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 4th to 8th Dec 2017

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CryptoCurrency News: 7 Tokens Investors Are Talking About

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. What separates a real-deal token from a scam? A new wave of tech enthusiasts is asking that question as tokens rack up big gains and take over market discussions. And it's certainly not one with an easy answer – […]

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CryptoCurrency News: Scrap the White Paper: How to Evaluate Tokens and Blockchains

The blockchain you're considering will almost certainly change from the white paper. What you really want to think about is how that will happen.

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[FOREX TIP] USDCHF Weekly Forex Forecast – 4th to 8th Dec 2017

 

USDCHF Weekly Forex Forecast – 4th to 8th Dec 2017

Technical Outlook: The USDCHF currency pair has been drifting lower following the break down below the 0.9894 – 0.9861 level of support and resistance. Price briefly tested the minor support at 0.9741 last week before pulling back higher. This marks a retest of this level which previously served as resistance. But the tight range could mean that USDCHF will be moving sideways in the near term. The risk of a break down from the support could signal USDCHF’s move back to 0.9563. To the upside, price action will need to strongly close above the resistance region to test the next main level at 1.0088.

Fundamental Outlook: Data from Switzerland this week is marked by the inflation and the unemployment report. The quiet data week will see much of the focus coming from the U.S. A busy week for the U.S. will see the release of the ISM’s non-manufacturing PMI followed by the jobs report. On Wednesday the ADP will be reporting on the private payrolls data while on Friday, the official nonfarm payrolls report will be released. This will be the final report ahead of the Fed meeting due in a few week’s time. As long as there are no dovish surprises in the payrolls report, the Fed is expected to push ahead with its interest rate hikes this month.

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USDCHF Weekly Forex Forecast – 4th to 8th Dec 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 4th to 8th Dec 2017

USDJPY Weekly Forex Forecast – 4th to 8th Dec 2017

Technical Outlook: USDJPY continues to remain volatile with last week’s price action showing a range that formed near the 110.91 low and close to the 112.60 level of resistance. The minor support level in between, at 111.76 is seen being tested currently. USDJPY could maintain the range within this support and the upper resistance level formed at 113.00. A breakout from this range will signal further directional bias. To the downside, we expect USDJPY to slip towards the 110.91 level of support once more to establish support more firmly. However, a continued move to the upside from the current level could see 113.00 resistance that could put a cap on prices.

Fundamental Outlook: Economic data from Japan this week will be marked by some important release. The Bank of Japan’s measure of core CPI will be coming out on Tuesday. Inflation continues to remain weak in the nation and this is expected to keep the BoJ on the sidelines for the near term.Later in the week, the final GDP report will be coming out. Data released previously showed that the pace of economic activity slowed in Japan. However, it was still showing that the economy was continuously expanding. The data is expected to give some relief to policymakers as they battle with weaker inflation.

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USDJPY Weekly Forex Forecast – 4th to 8th Dec 2017

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[FOREX TIP] EURUSD Weekly Forex Forecast – 4th to 8th Dec 2017

EURUSD Weekly Forex Forecast – 4th to 8th Dec 2017

Technical Outlook: The EURUSD managed to reclaim the 1.1900 handle last week albeit closing a few pips below this level. However, with price action settled above the 1.1850 support level the bias remains to the upside. The 4-hour chart shows price consolidating into a triangle pattern which could signal a break out in either direction. The support level at 1.1850 will be critical for price to set the near term direction. To the upside, a breakout above the trend line will signal a push towards 1.20 region. While this is possible, there is a risk that EURUSD will break down below the support level. In this case, a correction towards 1.1588 remains a strong possibility.

Fundamental Outlook: Economic data from the Eurozone gets busy this week with the fresh week lined up with a host of economic reports. The Eurozone’s Sentix investor confidence report will kick off the data, followed by the producer price index report. The PPI could signal the state of the inflationary pressures that could be building up. This week will see the final services PMI and manufacturing PMI reports as well. Preliminary flash estimates put both these sectors in the Eurozone to have been expanding at a fast pace. The data culminates with the Eurozone final revised GDP for the third quarter. Estimates show that the Eurozone GDP grew at a pace of 0.6% during the quarter.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 4th to 8th Dec 2017

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