[FOREX TIP] GBPUSD Weekly Forex Forecast – 13th to 17th Mar 2017

GBPUSD Weekly Forex Forecast – 13th to 17th Mar 2017

The GBPUSD has continued to drift lower, but we’re in the process of establishing a base from where we can bounce. Since the expectation of higher volatility in the week ahead has increased considerably we can expect the market to overshoot our support and resistance level. The big psychological level 1.2000 can provide us with a good support level from where GBPUSD can completely reverse the trend. On the upside, we have as resistance the 1.2300 levels. The stochastic indicator also shows a bullish divergence that signals a possible reversal.

There are major risk events not just for the British Pound, but for the entire market as a whole. 15 March is a major risk event because the British PM May is about to trigger the Article 50 and will inform the EU about the UK intention to leave the 24-nation bloc. On the same day, we have the Fed interest rate decision which based on the market consensus is about to hike rates for the first time this year, however, much of that seems already priced in.

On Thursday, traders need to pay attention to the BOE interest rate decision, but no changes are expected. Another major risk event is the Dutch general election with the far-right party leading in the recent polls which, if wins can trigger an avalanche of risk aversion in the markets.

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GBPUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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[FOREX TIP] Weekly Forex News Events for EURUSD – 13th to 17th Mar 2017

Weekly Forex News Events for EURUSD – 13th to 17th Mar 2017

EURUSD traders are going to have a week that is full of events. This is one week, which has to be dealt by traders very cautiously. Let us have a look at those events.

Monday- 13^th March-13.30 GMT

• ECB president Draghi speaks

This event might create opportunities for the EURUSD traders because of its timing. However, traders might as well be careful with their opened position since it could create volatility and sweep off their stop losses. It would be better to take entry after the news event.

Tuesday-14^th March-12.30 GMT

• PPI m/m

This is a high impact news event as well, which normally produces spikes. It could be dangerous for Intra-day traders.

Wednesday-15^th March-12.30 GMT

• CPI m/m
• Core CPI m/m
• Core retail sales m/m
• Retail sales m/m

Number of data to be released at the same time. More likely the pair will be on a roller coaster before or at the time of these news events.

Wednesday-15^th March-14.30 GMT

• Crude oil Inventories

Another news event, which is well known to produce spikes on the Intra-day charts.

Wednesday-15^th March-18.00 GMT

• FOMC Economic projections
• FOMC statement
• Federal Funds rate

EURUSD traders please set an alarm for these news events hour. The pair will surely be extremely volatile before, at the time and after these news events. In fact, these news events might set a trend on the Daily even on the Weekly chart. Traders have to be very cautious to deal with this news hour.

Thursday-16^th March- 18.30 GMT

• Building permits
• Philly Fed manufacturing index
• Unemployment claims

These are normally high impact news events. However, FOMC’s events would create the tone. Thus, these news events might not be as volatile as they normally are. However, Intra-day traders should be careful with their opened positions before these events.

Friday – 17^th March-14.00 GMT

• Prelim UOM consumer sentiment

It would be the last high impact news event for the week. It might not be that volatile. However, we had better be safe with our Intra-day positions before this news event as well.

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[FOREX TIP] USDCHF Weekly Forex Forecast – 13th to 17th Mar 2017

USDCHF Weekly Forex Forecast – 13th to 17th Mar 2017

Technical Outlook: USDCHF has maintained its bullish bias but the weekly price action shows increasingly smaller bodies compared to the weekly ranges. This is indicative of a potential exhaustion to the trend in the near term with last week’s high of 1.0170 testing the 50% retracement level from the range established from the previous weekly declines. Last week saw USDCHF maintaining the price near 1.0096 support level and this could be expected in the coming week as well. However, prepare for a possible breakdown of the rising trendline that could trigger further declines down towards 1.0015 support level.

Fundamental Outlook: The Swiss franc could see some inflows this week as investors could potentially pile on to the safe haven currency ahead of the Netherlands elections on Wednesday. Still, the CHF is likely to see some event risks of its won. On Thursday March 16, the Swiss National Bank will be meeting for its quarterly monetary policy meeting. No change is expected to be made to the 3-month LIBOR rate, which stands at -0.75%. Besides the SNB’s meeting other events for the week include the PPI figures.

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USDCHF Weekly Forex Forecast – 13th to 17th Mar 2017

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