Forecasts & Analysis | Currencies
USD/JPY Fundamental Daily Forecast – Technical Reversal Could Be Signaling Weakening Selling Pressure
In Japan, Preliminary Machine Tool Orders came in at 65.0%, up from 36.7%. Core Machinery Orders, however, fell 8.5%, missing the 2.4% forecast.
AUD/USD and NZD/USD Fundamental Daily Forecast – Stable Greenback Caps Aussie, Kiwi
The Business NZ PMI came in at 63.6, up 9.4 points from February, and the highest monthly result since the survey began in 2002.
Weekly Technical Market Insight: 19th – 23rd April 2021
While an obvious DXY downtrend is evident, the combination of daily support at 91.00 and Quasimodo support at 91.36 may underpin a short-term bullish scenario this week.
NZD/USD Forex Technical Analysis – Rally Stopped Short of .7204 to .7266 Resistance Zone
The direction of the NZD/USD into the close on Friday will be determined by trader reaction to the short-term Fibonacci level at .7145.
USD/JPY Forex Technical Analysis – Close Over 108.763 Forms Closing Price Reversal Bottom
The direction of the Forex pair into the close on Friday is likely to be determined by trader reaction to 108.763.
AUD/USD Forex Technical Analysis – Rally Stalls in Front of Main Retracement Zone at .7770 – .7826
The direction of the AUD/USD into the close on Friday is likely to be determined by trader reaction to the short-term Fibonacci level at .7728.
USD/JPY Weekly Price Forecast – US Dollar Pulls Back Toward Support
The US dollar has pulled back significantly during the course of the week to test the ¥109 level for support.
GBP/USD Weekly Price Forecast – Pound Continues to Find Support
The British pound rallied a bit during the week as we continue to test the 1.3750 level as support. There is a significant amount of support underneath as well.
GBP/JPY Weekly Price Forecast – British Pound Finds Support
The British pound broke down below the ¥150 level during the course of the week, but then turned around to form a bit of a hammer.