[FOREX TIP] Weekly Forex News Events for EURUSD – 6th to 10th Feb 2017

Weekly Forex News Events for EURUSD – 6th to 10th Feb 2017

EURUSD had a bullish week. There were a number of news events last week, but the pair did not react to them as it normally does. Especially, Friday’s Non Farm employment change could have been a vital issue to drive the pair much further down. That did not happen. One of the reasons could be the trend with the EURUSD favored the buyers over the sellers.

Let us now have a look at the next week’s news events.

Wednesday- 8^th February – 15.30 GMT

• Crude oil inventories

One of the news events, which has to be taken care by the Intra-day traders. This news event has the tendency to create long spike and swipe off intraday traders’ stop losses.

Thursday- 9^th February- 13.30 GMT

• Unemployment claims

This week’s forecast is 246K. This forecast number is the lowest among last 4 week’s forecast number. Overall, US unemployment data has been good for the last 4 weeks. On 26 January, the actual claim was 259K, whereas forecast was 247K. However, on 19 January forecast was 252K, actual claim was 234K, and on 2 February forecast was 251K, actual claim was 246K. According to the number of claims in the last 4 weeks, 246K is going to be an interesting number. If the actual claim comes out higher than the forecast, then we might see huge volatility in EURUSD.

Friday-10^th February-15.00 GMT

• Prelim Uom consumer sentiment

This is another news event, which has a tendency to create spike. Since this news event takes place at the 11^th hour of a trading week, sometimes this news event can be a big factor for the following week. However, with this news event what most important is traders should take care their running intraday trades. Otherwise, volatility caused from this news event, only take out their stop losses.

The post Weekly Forex News Events for EURUSD – 6th to 10th Feb 2017 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

[FOREX TIP] USDCHF Weekly Forex Forecast – 6th to 10th Feb 2017

USDCHF Weekly Forex Forecast – 6th to 10th Feb 2017

Technical Outlook: USDCHF continued to extend the declines down to 0.9934 as the daily chart’s Stochastics points to a hidden bullish divergence with price making a higher low and the Stochastics printing a lower low. The current consolidation near the support level at 0.9934 could however mean there is scope for USDCHF to bounce back to the upside. The broke support near 1.0060 could be an ideal price level for a retest as resistance allowing for further declines to come.

Fundamental Outlook: Switzerland’s unemployment figures will be released on Thursday and economists are not expecting to see any major changes with the unemployment rate expected to remain steady at 3.3%. Data from the U.S. will be one of the drivers in USDCHF. It is also a quiet week from the U.S. which will see only import prices and the weekly unemployment claims data stand out next week.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 6th to 10th Feb 2017 – Bullish

The post USDCHF Weekly Forex Forecast – 6th to 10th Feb 2017 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

[FOREX TIP] USDJPY Weekly Forex Forecast – 6th to 10th Feb 2017

USDJPY Weekly Forex Forecast – 6th to 10th Feb 2017

Technical Outlook: USDJPY turned bearish last week falling to 112.60 by Friday’s close. The declines come on a hidden bearish divergence seen on the weekly chart, just below the 119.00 handle. However, the current levels near 112.00 – 112.50 is a level of support that could hold out. The upside bounce will be limited however with the price level at 114.00 likely to act as resistance. Thus, this level is ideal to take short positions in USDJPY, targeting 112.50 – 112.00. A break down below 112.00 – 112.50 could signal further declines towards 107.00. Alternately, if USDJPY continues to the upside, a break above 114.00 could see price rally towards the open gap near 115.10.

Fundamental Outlook: After the Bank of Japan left interest rates and its asset purchases unchanged last week, focus turns to Monday’s cash earnings. The data is expected to show an increase of 0.4% on the monthly basis. Lack of wage pressures has been a major concern as the BoJ struggles to stoke inflation. A weaker print could mean that inflation is unlikely to push higher any time soon. The remainder of the week will see other details from Japan including machinery orders and the economy watchers sentiment which is expected to rise to 51.9, extending the gains from 51.4 previously.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 6th to 10th Feb 2017 – Bearish

 

The post USDJPY Weekly Forex Forecast – 6th to 10th Feb 2017 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies