Category: Weekly Forex Forecasts

AUD/USD Forecast Aug. 3-7

AUD/USD had an uneventful week, and showed almost no change. The pair closed the week just shy of the 0.73 line. This week’s highlights are Retail Sales and Employment Change. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD.

In the US, the Federal Reserve remained cautious in its policy statement but did acknowledge improvement in the US economy. Advance GDP rebounded with a gain of 2.6% in Q2, but this fell short of the estimate. Australian PPI was within expectations but Building Approvals plunged.

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USD/JPY Forecast Aug. 3-7

USD/JPY Forecast Aug. 3-7

USD/JPY showed little change at the end of the week, closing at 123.82. This week has six events. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY. In the US, the Federal Reserve remained cautious but did acknowledge improvement in the US economy. Advance GDP rebounded with a [&hellip

USD/CAD Forecast Aug. 3-7

USD/CAD Forecast Aug. 3-7

The Canadian dollar posted minor losses last week, as USD/CAD slightly below the 1.31 line. There are only five events this week, but all are major indicators. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. The Canadian dollar weakened late in the week following a disappointing GDP reading of -0.2%, its fourth [&hellip

Forex Weekly Outlook August 3-7

Forex Weekly Outlook August 3-7

US ISM Manufacturing PMI, Trade Balance, ISM Non-Manufacturing PMI, Rate decision in Japan, Employment data from New Zealand, Canada and the US, including the all-important NFP report. Join us as we explore this week’s market movers. Last week the FOMC issued its rate statement reaffirming that the US economy continues to strengthen, leaving the door [&hellip

GBPUSD Rejects Daily Resistance Level – Bearish Reversal Candle

GBPUSD Rejects Daily Resistance Level – Bearish Reversal Candle

GBPUSD has been stuck in this holding pattern under a stubborn resistance level on the daily chary, which has been containing price for the past couple of weeks. Again, the market moved up into this resistance level and the higher prices were denied, and pushed back lower to create a bearish rejection candle in response [&hellip

USD/JPY Forecast July 27-31

USD/JPY Forecast July 27-31

USD/JPY posted slight losses in an uneventful week. The pair closed at 123.68. This week has six events. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY. US numbers showed improvement this week, as New Home Sales jumped and unemployment claims dropped sharply. In Japan, the trade deficit [&hellip

GBP/USD Forecast July 27-31

GBP/USD Forecast July 27-31

GBP/USD posted sharp losses last week, as the pair lost 130 points. The pair closed the week at 1.5473. This week’s highlight is Preliminary GDP. Here is an outlook on the major events moving the pound and an updated technical analysis for GBP/USD. A weak Retail Sales report out of the UK hurt the pound, as [&hellip

EUR/USD Forecast July 27-31

EUR/USD Forecast July 27-31

EUR/USD rebounded strongly last week, gaining about 150 points. The pair closed the week at 1.0982. There are 11 events this week, highlighted by German Ifo Business Climate. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. The euro posted strong gains as the Greek government won a parliamentary vote on [&hellip

AUD/USD Forecast July 27-31

AUD/USD Forecast July 27-31

AUD/USD continues to struggle, as the pair posted losses for a fifth straight week. AUD/USD lost about 90 points and closed the week at 0.7277. This week’s highlights are Building Approvals and PPI. Here is an outlook on the major market-movers and an updated technical analysis for AUD/USD. US numbers showed improvement this week, as New Home Sales [&hellip

USD/CAD Forecast July 27-31

USD/CAD Forecast July 27-31

The Canadian dollar was almost unchanged last week, as USD/CAD closed slightly above the 1.30 line. This week’s highlight is GDP. Here is an outlook on the major market-movers and an updated technical analysis for USD/CAD. US numbers enjoyed a good week, as New Home Sales jumped and unemployment claims dropped dramatically. Canadian data was mixed, as Wholesale Sales slipped, while [&hellip

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