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[FOREX TIP] AUDUSD Weekly Forex Forecast – 27th Nov to 1st Dec Nov 2017

AUDUSD Weekly Forex Forecast – 27th Nov to 1st Dec Nov 2017

The Aussie has the potential to make a major swing low after we rallied from near the big psychological number 0.7500. For the bullish case to remain valid, we need to continue trading above the 0.7500 figure on a daily closing basis. Now, in order for the current bullish run to have more legs we need a daily close above 0.7638.

The stochastic indicator is moving away from overbought territory which means we can expect more ranging activity early in the week before the real move to start. We can also note that the next big resistance level only comes at 0.7730. The Australian economic calendar doesn’t have scheduled any major risk events that can be the catalyst for high volatility. This suggests that we should expect a more technical driven market.

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AUDUSD Weekly Forex Forecast – 27th Nov to 1st Dec Nov 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

USDCAD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

The USDCAD has again failed to sustain any rally above 1.2800 key resistance level as any rally above has quickly faded away. However, USDCAD also failed to break below key support level 1.2663 which might suggest that we should expect further consolidation. The stochastic indicator doesn’t provide us with any evidence of oversold or overbought market so we need more price data to have a firm understanding of the next possible move. A break below 1.2663 will for sure open the downside to retest our next pivot level 1.2550 from where we can expect a reaction higher.

On the upside, only a break above last week high 1.2836 can suggest another attempt to break the swing high 1.2916. In terms of risk events, the Canadian economic calendar doesn’t have some big risk events. On Tuesday, traders should be aware of the BOC Governor Poloz speech on monetary policy. Then on Wednesday we have the OPEC meeting which has the potential to impact the USD/CAD exchange rate due to the correlation between the Canadian dollar and the price of oil. Friday, the Canadian GDP figures are the highlight of the day.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

 

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GBPUSD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

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[FOREX TIP] USDCHF Weekly Forex Forecast – 27th Nov to 1st Dec 2017

USDCHF Weekly Forex Forecast – 27th Nov to 1st Dec 2017

Technical Outlook: The USDCHF fell back to the support level near 0.9894 – 0.9861 region. However, the support level failed to hold on to the gains as price closed below this level. This potentially invalidates the bullish bias where we expected USDCHF to test the next resistance level near 1.0088 region. The decline below the support level will see a test towards the previous support level at 0.9741. With this level being only a minor support level we could expect further declines. However, the daily Stochastics oscillator shows a hidden bullish divergence that could signal some upside bounce in prices.

Fundamental Outlook: A somewhat quiet week from Switzerland will see the quarterly GDP numbers being released on Thursday. The data is unlikely to move the markets much as USDCHF will also be influenced by the economic data from the U.S. Next week will see the release of the second revised GDP estimates for the third quarter. The U.S. economy surprised with a 3.0% increase based on the first estimates. An unchanged or better than expected print could no doubt send the U.S. dollar higher. On Friday, the fresh economic reports include the final manufacturing PMI and the ISM’s non-manufacturing PMI for the month of November.

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USDCHF Weekly Forex Forecast – 27th Nov to 1st Dec 2017

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[FOREX TIP] USDJPY Weekly Forex Forecast – 27th Nov to 1st Dec 2017

USDJPY Weekly Forex Forecast – 27th Nov to 1st Dec 2017

Technical Outlook: The USDJPY weakened significantly last week as price breached past various support levels. The price action by Friday’s close shows that USDJPY is attempting to post a modest recovery. However, this can be validated only on a higher low being formed. Watch for resistance developing near 111.76 level. This could result in a modest decline in USDJPY that could result in a higher low. To the upside, USDJPY will need to clear 111.76 level that will open the price to testing the 113.00 level in the near term. Alternately, a decline brlow the previous lows near the 111.275 level could signal further declines in price.

Fundamental Outlook: Economic data from Japan will see the monthly inflation figures being released on Thursday. Inflation in Japan has remained broadly flat for the most part of this year. The recent decline in lower oil prices is expected to see consumer prices subdued in the economy. Besides the inflation report, the retail sales, housing starts and household spending figures will also be released. The household spending data will be an important release to watch as it could signal early signs of inflation based on whether consumer spending has increased or not. On Friday, the final manufacturing PMI from Japan is expected to show a modest increase in activity in the sector.

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 27th Nov to 1st Dec 2017

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[FOREX TIP] EURUSD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

EURUSD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

Technical Outlook: The EURUSD posted strong gains after the initial rally to the resistance level at 1.1850 saw price falling lower to 1.1730. The strong reversal came on better than expected economic data out of Germany and flash indicators from the Eurozone. The breakout above the resistance level at 1.1850 signals further continued momentum. The next initial target is the unfilled gap from 22 September at 1.1948. This will be followed by a move towards 1.1988. In the near term, any declines in EURUSD will probably attract strong buyers into the market. Ideally, look for a decline in EURUSD towards the 1.1850 level where support could be established ahead of further gains.

Fundamental Outlook: The economic data from the Eurozone this coming week will be a mix of both first tier and second tier data. The week starts off with the preliminary inflation reports from Germany and France. This sets the stage for the Eurozone’s flash inflation estimates due on Thursday. The flash inflation data covers the period of November and could signal whether inflation in the Eurozone has picked up or remained stagnant. On Friday, the final manufacturing and services PMI figures will be released and the data sheds light on the state of the economic activity in the Eurozone for the month of November.

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 27th Nov to 1st Dec 2017

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[FOREX TIP] Weekly Forex News Events for EURUSD – 27th Nov to 1st Dec 2017

EURUSD finished the week with a strong Bullish tone by producing a strong Bullish weekly candle. The price kept making higher high last week. It seems that, the buyers have taken the control over the sellers with huge command on the pair. Some high impact news events that might create strong volatility on EURUSD are to take place in the next week. Let us have a look at those.

Tuesday-28^th November 2017- GMT 16.00

CB consumer confidence

It might create strong volatility on the intraday charts and create some good trading opportunities for the intraday EUROUSD traders.

Wednesday-29^th November- GMT 14.30

Prelim GDP q/q

This news event often ends up producing long spikes on the intraday chart. Thus, intraday traders should be careful with their floating positions before this news event.

Wednesday-29^th November- GMT 16.30

Crude oil inventories

It has the potential to be a very volatile news event. It does not always shake the market to its potential though, but it is better to keep an eye on this news event.

Thursday- 30^th November- GMT 14.30

Unemployment Claims

This is the news event, which might create the most volatility next week. The major time frame and intraday EUROUSD traders will be eagerly waiting for this news event to find some good trading opportunities.

Friday-1^st December-2017- GMT 16.00

ISM Manufacturing PMI

This is the last high impact news event for the week. Thus, it might create extra volatility. With this news event, some trading opportunities could come as well on the intraday minor time frames.

The post Weekly Forex News Events for EURUSD – 27th Nov to 1st Dec 2017 appeared first on Advanced Forex Strategies.

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CryptoCurrency News: Bitcoin, Ether Prices Surge to Fresh All-Time Highs

The top two cryptocurrencies by market capitalization have continued their respective rallies, setting fresh record highs today.

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