[FOREX TIP] AUDUSD Weekly Forex Forecast – 15th to 19th Jan 2018

AUDUSD Weekly Forex Forecast – 8th to 12th Jan 2018

The Aussie is in a strong bullish trend and we don’t have any reasons to believe it won’t continue to go higher. However, we do expect the rally to be interrupted by short-term price retracements. The next big hurdle on the upside is the big psychological number 0.8000 but first we have the 0.7986 our resistance level.

The stochastic indicator is still in overbought territory and we can expect more consolidation around current price before we can see some real buying power. On the downside the most important support level is the 0.7800 level which needs to hold for the bullish trend to remain intact. The Australian economic calendar will bring the Unemployed figures which is a big risk event that has potential to disrupt the market volatility. As a proxy risk event we also have the Chinese GDP figures for the last quarter of 2017 which can have an impact on the AUDUSD exchange rate.

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AUDUSD Weekly Forex Forecast – 15th to 19th Jan 2018

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[FOREX TIP] USDCAD Weekly Forex Forecast – 15th to 19th Jan 2018

AUDUSD Weekly Forex Forecast – 15th to 19th Jan 2018

The USDCAD has retraced back some of the previous losses but it only managed to post a very weak close above the big psychological number 1.2500. The inability to post a decisive close above the round number 1.2500 can send the USDCAD in consolidation mode. Now the key support level remains last swing low 1.2354 which needs to hold for the bullish case to remain intact.

The stochastic indicator is in neutral position not showing any signs of extreme sentiment in the market. The first intraday support comes at 1.2430 from where a reaction higher can be seen while on the upside last week high 1.2589 can open up the door for more gains if broken. The Canadian economic calendar will bring the BOC interest rate decision which is the highlight risk event for the Canadian Dollar. The BOC is expected to keep the interest rates policy unchanged but the BOC rhetoric will be the one to drive the USDCAD exchange rate.

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USDCAD Weekly Forex Forecast – 15th to 19th Jan 2018

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 15th to 19th Jan 2018

GBPUSD Weekly Forex Forecast – 15th to 19th Jan 2018

The GBPUSD has finally managed to break above the key pivotal level 1.3657 confirming the bullish case scenario. As long as we trade above1.3657, which should now act as support, the bullish momentum should prevail. However, a break and a daily close below will once again send GBP/USD into consolidation if not reversal mode. On the upside the next important resistance level that we need to keep an eye on only comes in at the big psychological number 1.4000. Since the stochastic indicator is already in overbought territory we can expect early in the week to see a pause in the current bullish run so the stochastic indicator has time to reset itself.

We can also note possible intraday resistance levels at 1.3850 from where a reaction lower can be expected. The UK economic calendar has some high risk events that can be the catalyst for some volatility.  The CPI inflation figures are scheduled on Tuesday and the annualized rate is expected to inch higher to 3.2% versus 3.2% previous reading. We can also mention Friday’s Retail sales figures and on Monday the Martin L. King holiday.

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GBPUSD Weekly Forex Forecast – 15th to 19th Jan 2018

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[FOREX TIP] USDCHF Weekly Forex Forecast – 15th to 19th Jan 2018

USDCHF Weekly Forex Forecast – 15th to 19th Jan 2018

Technical Outlook: USDCHF was seen trading weaker as a short term rebound off the 0.9741 support failed to keep prices supported. The decline below the support level indicates downside momentum in the currency pair. We expect USDCHF to maintain the declines falling to 0.9455 support. The downside target is likely to be achieved in the medium term. Any gains will most likely be capped near the current support level of 0.9741 which could be tested for resistance. The bias can only shift if USDCHF manages to recover above 0.9741 and most importantly close convincingly above 0.9894 level of resistance.

Fundamental Outlook: A slow week from Switzerland will see only the release of the producer price index data later in the week. Much of the fundamentals for the USDCHF will come from the economic data from the U.S. Forward looking indicators will see the release of the Empire State Manufacturing index that will be released by the NY Fed. Later in the week, focus shifts to the housing markets. The NAHB will be first coming out with its housing market index data which will then be followed by the housing starts. The housing market in the U.S. has remained relatively strong and this trend is expected to continue. The week winds off with the University of Michigan’s consumer sentiment and inflation expectations report..

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USDCHF Weekly Forex Forecast – 15th to 19th Jan 2018

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[FOREX TIP] USDJPY Weekly Forex Forecast – 15th to 19th Jan 2018

USDJPY Weekly Forex Forecast – 15th to 19th Jan 2018

Technical Outlook: USDJPY continued to decline last week with the weaker U.S. dollar seeing the declines accelerate. USDJPY briefly tested the support level at 110.91 after breaking down from the support at 112.07. The declines came following a brief retest of the falling trend line and the failure to breakout from this level. In the near term, USDJPY could be seen consolidating above 110.91 level with a firmer test of support likely to occur. The currency pair could be seen settling into a range once again within 112.07 resistance and the 110.91 support level.

Fundamental Outlook: Economic data from the Japan this week will see reports from the industrial and manufacturing sector. The preliminary and core machine tool orders will be scheduled in the first part of the week. This is followed by the revised industrial production figures later in the week. Overall, the economic data is unlikely to influence the yen much. However, watch for any geo-political developments that could quickly influence the sentiment in the currency.

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USDJPY Weekly Forex Forecast – 15th to 19th Jan 2018

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[FOREX TIP] EURUSD Weekly Forex Forecast – 15th to 19th Jan 2018

EURUSD Weekly Forex Forecast – 15th to 19th Jan 2018

Technical Outlook: EURUSD posted strong gains last week closing at 1.2196. Price action suggests further upside gains in the currency pair. However, a near term dip towards the previously established resistance level at 1.2070 could be seen as a correction. Establishing support at this level could signal further renewed buying in the currency pair targeting the current highs near 1.2196 with further gains likely to come. The downside risks to this view is the failure of the support at 1.2070. A decline below this level could indicate a stronger than expected correction in the EURUSD.

Fundamental Outlook: The quiet pace of economic data from the Eurozone continues this week as well. Most of the economic details cover the second-tier data. However, the European Statistics agency, Eurostat will be releasing the final inflation figures for the Eurozone this week. Flash estimates released previously showed that headline consumer prices rose at a slower pace of just 1.4% during the month of December on an annual basis. This was weaker than the 1.5% increase seen in November. Core inflation rate also slowed to 0.9%. It was the same pace of increase registered in the previous month. The inflation data is unlikely to influence the markets much although the sentiment could be hit in the short term.

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EURUSD Weekly Forex Forecast – 15th to 19th Jan 2018

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[FOREX NEWS] EUR/USD: To 1.23? 1.30? Where next after the big breakout? 4 opinions

EUR/USD rallied on the news about a German coalition, a somewhat bullish ECB and the great weakness of the US dollar, that failed to rally on good American figures. What’s next? Here are four opinions: Here is their view, courtesy of eFXnews: EUR/USD: Targeting 1.30: ‘It’s More A Question Of How, Not if We Get [...]

The post EUR/USD: To 1.23? 1.30? Where next after the big breakout? 4 opinions appeared first on Forex Crunch.

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