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[FOREX TIP] AUDUSD Weekly Forex Forecast – 4th to 8th June 2018

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AUDUSD Weekly Forex Forecast – 4th to 8th June 2018

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[FOREX TIP] USDCAD Weekly Forex Forecast – 4th to 8th June 2018

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USDCAD Weekly Forex Forecast – 4th to 8th June 2018

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 4th to 8th June 2018

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GBPUSD Weekly Forex Forecast – 4th to 8th June 2018

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[FOREX TIP] USDCHF Weekly Forex Forecast – 4th to 8th June 2018

USDCHF Weekly Forex Forecast – 4th to 8th June 2018

Technical Outlook: The USDCHF currency pair has been gradually drifting lower. The currency pair drifted into the range of 0.9894 – 0.9821 level. In the near term, we expect the USDCHF to maintain the sideways range. A breakout from this level could signal further direction in the near term. To the upside, USDCHF will be seen testing the upper resistance at 0.9957 while to the downside, strong losses can be expected if USDCHF breaks below 0.9821.

Fundamental Outlook: A slow week for data from Switzerland which only see’s the release of the unemployment report. Inflation figures are also due over the week, but these are not expected to move the markets much. Focus turns to data from the U.S. which will see a relatively light week in comparison. The ISM’s non-manufacturing PMI will be coming up followed by other second tier data such as the consumer credit and wholesale inventories report.

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USDCHF Weekly Forex Forecast – 4th to 8th June 2018

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[FOREX TIP] USDJPY Weekly Forex Forecast – 4th to 8th June 2018

USDJPY Weekly Forex Forecast – 4th to 8th June 2018

Technical Outlook: The USDJPY currency pair posted a strong rebound after initially posting losses during the week. However, Friday’s rally toward highs of 109.71 saw the currency pair giving back some of the gains. In the near term, we expect the USDJPY currency pair to slip back to establish support at 109.14 level. This is also seen with the Stochastics oscillator printing a hidden bearish divergence. There is a possibility that the USDJPY currency pair could fail to establish support at 109.14 which could signal further declines as a pending test of support near 107.77 – 107.63 awaits.

Fundamental Outlook: Economic data from Japan this week is light. The week starts off with the average cash earnings and household spending. Both these reports could signal spending and inflation patterns. With Japan’s unemployment rate at lows, wage growth has lagged. However, officials remain hopeful that wages will eventually start to rise, pushing inflation higher. Later on the week, on Friday, the final GDP report for the first quarter will be coming out. Economists do not expect to see any changes after previous reports showed that Japan’s economy contracted in the first three months of the year.

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USDJPY Weekly Forex Forecast – 4th to 8th June 2018

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[FOREX TIP] EURUSD Weekly Forex Forecast – 4th to 8th June 2018

EURUSD Weekly Forex Forecast – 4th to 8th June 2018

Technical Outlook: The EURUSD currency pair saw another week of declines but price action managed to post a modest recovery towards end of the week. The price action in the currency pair suggests that a bottom might have been formed. The pullback in the declines is expected to see the EURUSD falling back toward the 1.1607 level. Establishing support at this level could signal a continuation to the upside. Watch for an upside breakout from the falling median line. This could signal a corrective rally toward the next main resistance at 1.1848.

Fundamental Outlook: Data from the Eurozone continues to follow through with the latest services and manfuacturing PMI figures for the month of May. Investors will be paying close attention to the figures considering that business activity slowed during the first four months of a year. Any signs of a rebound in activity could build expectations that the Eurozone economy is slowly gaining momentum. The final revised GDP figures for the first quarter will be coming with no changes to the GDP which was confirmed at 0.4% on a quarterly basis.

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EURUSD Weekly Forex Forecast – 4th to 8th June 2018

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