[FOREX TIP] Weekly Forex News Events for EURUSD – 1st to 5th May 2017

Weekly Forex News Events for EURUSD – 1st to 5th May 2017

EURUSD had started last week with adjustment. However, the week ended by producing a bearish Spinning Top. The next week is going to be the first week of May. Thus, we have to keep our eyes on the news calendar. Those news events normally set the tone of the pair for the whole month. Let us have a look at the next week’s schedule of the news events… not listed here is the final round of the French election on the 7th May. If you are trading EURUSD and other currencies this week… it’s best to exit all positions as another round of crazy move might just happen. Stay safe…

Monday-1^st May-11.45 GMT

• Treasury Sec Mnuchin Speaks

It might not create that volatility, but traders might consider this event before making their intraday trading plan for that day.

Wednesday-3^rd May-12.15 GMT

• ADP Non Farm employment change

Wednesday-3^rd May-14.00 GMT

• Non Manufacturing PMI

Wednesday-3^rd May-14.30 GMT

• Crude oil inventories

EURUSD traders should care about these three news events. All of them are high impact news events, so the pair might get huge volatility. Some good trading opportunities might come after these news events though.

Wednesday-3^rd May-18.00 GMT

• FOMC statement
• Federal Funds rate

Two huge news events that must be taken into account by every EURUSD trader. Surely, there will be extreme volatility around these two news events.

Thursday- 4^th May- 12.30 GMT

• Unemployment Claim

This news event might create volatility as well. However, this can be used to find opportunities as well.

Thursday- 4^th May- 16.30 GMT

• ECB president Draghi speaks

An important event, which must not be ignored by the EURUSD traders.

Friday-5^th May-12.30 GMT

• Average Hourly earnings m/m
• Nonfarm employment change
• Unemployment change

Write this time and date on your notebook if you trade on EURUSD. The pair is going to get extremely volatile around these news events.

Friday-5^th May-17.30 GMT

• Fed chair Yellen speaks

The pair might already take its route because of the earlier news events. However, intraday positions might get hit around this event.

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[FOREX TIP] USDCHF Weekly Forex Forecast – 1st to 4th May 2017

USDCHF Weekly Forex Forecast – 1st to 4th May 2017

Technical Outlook: The USDCHF remained a tad weaker but managed to post a higher low, well supported above the major support level near 0.9894 – 0.9861. With the daily Stochastics currently oversold, the bias remains to the upside. Question is whether USDCHF will breakout to the upside, invalidating the descending triangle pattern or if the support at 0.9894 – 0.9861 will be breached for further declines. Price action has been strongly consolidating at the current levels and it is best to stay on the sidelines for USDCHF until further clear bias is established. However, in the event of a break down below the support, it is best to sell USDCHF targeting 0.9784 and 0.9643..

Fundamental Outlook: A slow week for the Swiss franc will see focus turn to the U.S. dollar which will be looking at a very busy week which will see key events that include the state of the economy in the manufacturing and services sector. This week will see the release of the ISM manufacturing and non-manufacturing PMI numbers. Manufacturing is expected to see another weak month and is expected to pull back for the second consecutive month.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 1st to 4th May 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 1st to 4th May 2017

USDJPY Weekly Forex Forecast – 1st to 4th May 2017

Technical Outlook: USDJPY posted multiple attempts near 111.65 but failed as noted in last week’s analysis. This indicates a near term pullback in prices as the U.S. dollar is likely to test the e11.65 resistance level once again. Notice that the daily chart shows multiple inside bars being formed in the past three sessions which indicates a potential breakout that is likely to come. Look to purchase USDJPY on any dips, potentially near 110 – 109.50 levels, as we can expect another go towards 111.65 followed by a longer term rally towards 115.00.

Fundamental Outlook: After a somewhat busy week, the Japanese yen takes a breather with focus shifting to the BoJ’s core CPI measure. Last week’s inflation report showed a somewhat mixed bag with the national core CPI rising 0.2% as expected while the Tokyo core CPI fell 0.1%, less than expected. The main driver for USDJPY will of course be this Wednesday’s FOMC meeting. No changes to interest rates are expected from the central bank, while on Friday the monthly payrolls report will be coming out, all of which will signal increased volatility for the markets.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 1st to 4th May 2017

 

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