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Saturday, November 17, 2018

[FOREX TIP] USDCHF Weekly Forex Forecast – 19th to 23rd Nov 2018

USDCHF Weekly Forex Forecast - 19th to 23rd Nov 2018

USDCHF Weekly Forex Forecast – 19th to 23rd Nov 2018

This is the simple way to scan for the best price action setup everyday.  Click Here…

Fundamentals Outlook
The economic calendar for the week ahead is expected to remain broadly quiet. Data from the Eurozone will focus on the ECB’s monetary policy meeting minutes. The minutes cover the recently held ECB meeting in October when the central bank cut its QE purchases to 15 billion euro. Economic data will cover the release of the flash manufacturing and services PMI including final third quarter GDP report from Germany.

Data from Japan and Switzerland are quiet with only the national core CPI rate due from Japan. The data from the U.S. will see the durable goods orders report coming out following by building permits and housing starts data. The markets are expected to remain slightly volatile due to the BREXIT concerns. This could spark a bid to safety that could push the yen and the Swiss franc higher during the week.

Chart set up: The USDCHF currency pair was seen consolidating near the resistance area of 1.0080 before easing back towards the week’s end. Price action was seen breaking out from the rising price channel. In the near term, this could indicate a correction in prices if the breakout is validated.

Key support/resistance levels: Support: 0.9951; Resistance: 1.0080

Commentary:
The breakout from the rising price channel indicates that the long rally in USDCHF is likely to see a major correction taking place. However, we expect to see some more consolidation taking place at the current levels. To the downside, the lower support at 0.9915 is likely to hold the declines in the USDCHF. We expect price action to potentially rebound off this level of support. For the week ahead, USDCHF is expected to be bearish.

Previous USDCHF Weekly Forex Forecast

The post USDCHF Weekly Forex Forecast – 19th to 23rd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] USDJPY Weekly Forex Forecast – 19th to 23rd Nov 2018

USDJPY Weekly Forex Forecast - 19th to 23rd Nov 2018

USDJPY Weekly Forex Forecast – 19th to 23rd Nov 2018

This is the simple way to scan for the best price action setup everyday.  Click Here…

Fundamentals Outlook
The economic calendar for the week ahead is expected to remain broadly quiet. Data from the Eurozone will focus on the ECB’s monetary policy meeting minutes. The minutes cover the recently held ECB meeting in October when the central bank cut its QE purchases to 15 billion euro. Economic data will cover the release of the flash manufacturing and services PMI including final third quarter GDP report from Germany.

Data from Japan and Switzerland are quiet with only the national core CPI rate due from Japan. The data from the U.S. will see the durable goods orders report coming out following by building permits and housing starts data. The markets are expected to remain slightly volatile due to the Brexit concerns. This could spark a bid to safety that could push the yen and the Swiss franc higher during the week.

Chart set up: The USDJPY currency pair extended declines after failing the support at 113.58. This came as the USDJPY failed to break higher. The close below the support level promptly pushed the USDJPY lower to test the next support area of 112.74 which is currently seen holding the declines.

Key support/resistance levels: Support: 112.74; Resistance: 113.58

Commentary:
As the USDJPY is seen bouncing off the support at 112.74, price action could be somewhat muted in the coming week. The established range is likely to see the USDJPY maintaining a flat price action in the coming week. However, in the event of a breach of the support at 112.74, price action could potentially dip lower. To the upside, the gains are limited to the resistance area of 113.58 which could be tested in the near term. A retest of resistance here could potentially confirm further downside price action in the USDJPY currency pair. For the week ahead, the USDJPY currency pair is expected to be flat.

Previous USDJPY Weekly Forex Forecast

The post USDJPY Weekly Forex Forecast – 19th to 23rd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

[FOREX TIP] EURUSD Weekly Forex Forecast – 19th to 23rd Nov 2018

EURUSD Weekly Forex Forecast - 19th to 23rd Nov 2018

EURUSD Weekly Forex Forecast – 19th to 23rd Nov 2018

Fundamentals Outlook
The economic calendar for the week ahead is expected to remain broadly quiet. Data from the Eurozone will focus on the ECB’s monetary policy meeting minutes. The minutes cover the recently held ECB meeting in October when the central bank cut its QE purchases to 15 billion euro. Economic data will cover the release of the flash manufacturing and services PMI including final third quarter GDP report from Germany. This is the simple way to scan for the best price action setup everyday.  Click Here…

Data from Japan and Switzerland are quiet with only the national core CPI rate due from Japan. The data from the U.S. will see the durable goods orders report coming out following by building permits and housing starts data. The markets are expected to remain slightly volatile due to the Brexit concerns. This could spark a bid to safety that could push the yen and the Swiss franc higher during the week.

Chart set up: The EURUSD currency pair managed to post some gains after price action broke out from the resistance area of 1.1345. The strong close above this level indicates a near term decline to retest this level for support. Forming support at 1.1345 could pave way for the EURUSD to post further gains. The upside resistance at 1.1449 could be the next upside target

Key support/resistance levels: Support: 1.1345; Resistance: 1.1449

Commentary:
The outlook for the EURUSD is seen to be turning slightly bullish. However, the common currency must establish support at 1.1345 in order to confirm this bias. Failure to hold the rebound in price at this support could mean further declines in store. This would invalidate the bullish outlook. To the upside, the immediate resistance at 1.1449 remains a key level of interest. A potential breach of this level could see the common currency posting further gains. For the week ahead, the EURUSD is expected to be bullish.

Previous EURUSD Weekly Forex Forecast

The post EURUSD Weekly Forex Forecast – 19th to 23rd Nov 2018 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

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