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[FOREX TIP] AUDUSD Weekly Forex Forecast – 11th to 15th Dec 2017

AUDUSD Weekly Forex Forecast – 11th to 15th Dec 2017

The Aussie continues to trade around the big psychological number 0.7500 and we can expect more price range around this round number as the bearish trend has run too far in a very short period of time. The trend needs to breath and as long as we stay below 0.7625 resistance level we can expect the downside momentum to prevail.

Since the stochastic indicator is in oversold territory we need a reset before we really can see a resumption of the bearish trend. The Australian economic calendar will bring on Tuesday the Mid-year economic and fiscal outlook which has potential to be the catalyst for some volatility. On Thursday the Unemployment rate is the highlight of the week for AUDUSD price.

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AUDUSD Weekly Forex Forecast – 11th to 15th Dec 2017

The post AUDUSD Weekly Forex Forecast – 11th to 15th Dec 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] USDCAD Weekly Forex Forecast – 11th to 15th Dec 2017

USDCAD Weekly Forex Forecast – 11th to 15th Dec 2017

The USDCAD has once again managed to recover almost all the losses suffered in the previous week. Since we’re still trading below the 1.2915 swing high we need to be caution as the Loonie can continue trading inside the price range established over the course of last few weeks. The middle of the current range is at 1.2784 which can provide a short-term support on the way down, but the real support remains the bottom of the range at 1.2660.

On the upside, a break above 1.2915 will open the door for a retest of the big round number 1.3000. The stochastic indicator is already in overbought territory and a pullback is expected to happen sooner rather than later. The Canadian economic calendar doesn’t have any major risk events that can impact the exchange rate. However, Wednesday we have the Fed interest rate decision which pretty much has been discounted by the markets. The general consensus is that the Fed will raise rates from 1.25% up to 1.5%.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 11th to 15th Dec 2017

The post USDCAD Weekly Forex Forecast – 11th to 15th Dec 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 11th to 15th Dec 2017

GBPUSD Weekly Forex Forecast – 11th to 15th Dec 2017

The GBPUSD has spent the previous week inside last week price range consolidating the gains made in the previous weeks. The Brexit talks have been the main driver of the GBPUSD volatility and we should expect the negotiation between London and the EU to be the catalyst for more volatility in the upcoming week. The technical pattern remains bullish as long as we trade above the big psychological number 1.3000. While this price is far away from the current exchange rate we can mention last week low 1.3320 as the line in the sand between the bulls and the bears. A break and a close below will expose 1.3150. On the upside we have the intraday resistance level 1.3450 followed by the more important big round number 1.3500.

The stochastic indicator is moving away from overbought territory and is resetting and if the price can hold above last week look during the current pullback there is a chance we’ll see another attempt to break higher. In terms of risk events, the UK economic calendar has many catalysts that have the potential to induce some volatility. On Tuesday we have the UK CPI inflation figures which based on the market consensus is expected to inch higher to 3.1% versus 3.0% previous reading. Wednesday we have the UK unemployment rate which is expected to come flat at 4.3%. Thursday is without a doubt the highlight risk event of the week as BOE will announce its interest rate policy for the last time this year.

Previous GBPUSD Weekly Forex Forecast

GBPUSD Weekly Forex Forecast – 11th to 15th Dec 2017

The post GBPUSD Weekly Forex Forecast – 11th to 15th Dec 2017 appeared first on Advanced Forex Strategies.

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