[FOREX TIP] USDCHF Weekly Forex Forecast – 26th Feb to 2nd Mar 2018

Technical Outlook: The USDCHF currency pair has been trading inside the range established from the past few weeks. The modest rebound to the downside saw Friday’s price action pushing back higher. We expect that in the near term, USDCHF could be seen rising back to test the 0.9455 level where resistance has already been established. Watch for a potential inverse head and shoulders pattern that could emerge if USDCHF reverses off the 0.9455 level. This could potentially set the stage for further bullish gains targeting 0.9741 on a successful breakout above 0.9455.

Fundamental Outlook: Data from Switzerland is limited over the week but the quarterly GDP data will of course stand out. Although it is unlikely to make much of an influence in the markets, investors will also be looking at the retail sales report. Data from the U.S. on the other hand is expected to dominate the week. The second revised GDP estimates for the fourth quarter of 2017 is due on Wednesday which will be the key event risk. On Thursday, the manufacturing PMI from the Institute of Supply Management will be coming out as the markets progress into a new trading week.

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USDCHF Weekly Forex Forecast – 26th Feb to 2nd Mar 2018

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[FOREX TIP] USDJPY Weekly Forex Forecast – 26th Feb to 2nd Mar 2018

Technical Outlook: The USDJPY managed to retrace the losses after prices previously fell to lows around 106.00 region. The rebound pushed USDJPY to test intermediary highs near the 107.00 region. The pullback off this level has resulted in USDJPY posting a higher low. We see strong bullish divergence as per the current set up. USDJPY is expected to retrace towards the breached support level at 108.43 in order to establish resistance at this level. This could potentially signal a key point in USDJPY as further continuation can be expected on a breakout above 108.43.

Fundamental Outlook: Data from Japan will see the release of mostly second tier data. However, the housing spending and unemployment rate details will likely shed light on whether wages are rising in Japan. Wage growth is an essential aspect as the Bank of Japan struggles to keep inflation alive. The recent uptick in inflation from Japan was somewhat encouraging however. Later in the week on Thursday inflation figures will dominate the headlines with the release of the Tokyo CPI and the Bank of Japan’s core CPI measure.

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USDJPY Weekly Forex Forecast – 26th Feb to 2nd Mar 2018

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[FOREX TIP] EURUSD Weekly Forex Forecast – 26th Feb to 2nd Mar 2018

EURUSD Weekly Forex Forecast – 26th Feb to 2nd Mar 2018

Technical Outlook: The EURUSD was seen posting declines last week with investors going back to favoring the USD. Price action was seen falling past the support level near 1.2361 – 1.2331. The break down last week below this level indicates further downside momentum in price. On Friday, the EURUSD managed to briefly rise back to this level but the reversal here signaled that the resistance level was holding up. We expect EURUSD to continue posting declines in the near term. The initial downside targets come in at 1.2211 followed by 1.2070. Alternately, if EURUSD manages to close above 1.2361, we expect some more consolidation to take place above this level.

Fundamental Outlook: Economic data from the Eurozone picks up steam with the week ahead marked by both economic and political events. In a week’s time, the Italian parliamentary elections will be coming up. Although the risks are limited, there is still a chance that investors will remain cautious. On the economic front, preliminary inflation reports from Germany, France and the Eurozone will be coming out over the week. As the markets shift to a new trading month on Thursday, the manufacturing PMI’s for the Eurozone will come out towards the later part of the week. Inflation data could remain another key risk for the eurozone over the week.

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EURUSD Weekly Forex Forecast – 26th Feb to 2nd Mar 2018

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