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A popular event forged during the token boom of 2017 saw discussion about the changing regulatory environment that has resulted.

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 21st to 25th May 2018

AUDUSD Weekly Forex Forecast – 21st to 25th May 2018

The Aussie has managed to hold above the previous swing low and it also posted a modest close above the big psychological number 0.7500. The weak close above the round number 0.7500 suggests that we can see another attempt to break lower. As long as we stay above 0.7500 on a daily closing basis, we should expect the upside to prevail. The 0.7470 is the first level of support where any sell-off can find some troubles.

The stochastic indicator is in neutral territory, so there are no extreme readings currently in the market. On the upside the 0.7565 remains our first area of interest, and a close above it can open the upside for more strength. There are no major risk events on the Australian economic calendar so we should expect a more technically driven market thus more sensitive to the technical levels.

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AUDUSD Weekly Forex Forecast – 21st to 25th May 2018

The post AUDUSD Weekly Forex Forecast – 21st to 25th May 2018 appeared first on Advanced Forex Strategies.

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[FOREX TIP] USDCAD Weekly Forex Forecast – 21st to 25th May 2018

USDCAD Weekly Forex Forecast – 21st to 25th May 2018

The USDCAD has entered back inside the previous trading range. The 1.2920 continues to cap the upside, but the line in the sand remains the big psychological number 1.3000. As long as we trade below 1.3000 the downside should prevail, but first we need to wait and see how the next attempt to break above 1.3000 goes. If the bears start showing up then we can see the support level 1.2745 being challenged again.

The stochastic indicator is already in overbought territory, so any rally should be short lived from here on. The first intraday support level only comes at 1.2815 where the bears can face some trouble. There are no major risk events on the Canadian economic calendar; however, we have some proxy risk events. Monday is the OPEC meeting and due to the correlation between the crude Oil prices and the Canadian dollar we can expect some volatility. Also Wednesday we have the FOMC minutes which will bring further clarity on the Fed’s monetary policy stance.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 21st to 25th May 2018

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 21st to 25th May 2018

GBPUSD Weekly Forex Forecast – 21st to 25th May 2018

The GBPUSD weekly closing price below the big psychological number 1.3500 is a clear sign that the bears are still in control of this market. Even though the downside seems a little bit overstretched, we should expect the bearish momentum to prevail while we still trade below 1.3500. On the downside the next important support level only comes around 1.3340 from where we should expect the bulls to have another chance to drive GBPUSD higher.  On the upside the first area of interest is the big psychological number 1.3500 followed by 1.3615 which is the top of the current consolidation. Only a daily break and close above 1.3615 can suggest that a swing low is in place, which is more important than the big round number 1.3500.

The stochastic indicator has reached oversold territory but the slow moving average still has room to fall before we reach extreme oversold readings. The UK economic calendar is full of risk events that can disrupt the market volatility. On Tuesday, the Inflation Report Hearings is scheduled to be released. Wednesday will bring the CPI inflation figures which are expected to inch lower to 2.3% versus 2.5% previous reading. Last but not least, Friday will bring the UK GDP numbers for the first quarter of 2018. The UK economy is expected to

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GBPUSD Weekly Forex Forecast – 21st to 25th May 2018

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