Forecasts & Analysis | Forex, Page 4

The British pound initially dipped a bit during the trading session on Wednesday, but then turned around to try to break out to the upside. The question now is whether or not we continue to do so?

The Euro rallied a bit during early trading on Wednesday but continues to find a lot of trouble in the neighborhood of 1.1350. As long as that’s the case, it’s very likely that we will get some type of pullback.

The Australian dollar fell a bit during trading on Wednesday, as we continue to see a lot of negativity creep back into this market. However, there’s a lot of noise between here and several other levels, so ultimately this is a market that looks very likely to be choppy still.

Based on the early price action, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the Fib level at 1.1318.

Dear Traders,The GBP/NZD could easily proceed with uptrend if 1.9412 is broken. Fresh buyers might appear if the price bounces off the POC zone–>1.9240-60 is the POC zone. A rounded bottom that has been formed on the GBP/NZD H1 time frame provides buying opportunities on a dip. A bounce from

Based on the early price action and the current price at 96.620, the direction of the June U.S. Dollar Index is likely to be determined by trader reaction to the 50% level at 96.715 and the downtrending Gann angle at 96.510.

Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the short-term 50% level at .6943.

The U.S. and China Inflation data may become a significant force causing movements in the stock and currency markets.

EUR/USD has been inching higher since hitting a low on Monday. The pair is seen once again making a run for the 200 weekly moving average. Ultimately, today’s CPI data will determine if a break will materialize.

Asia traders are getting set for a cautious start after US equity markets came off the boil as the prospect of consorted global bank stimulus continues vying for top billing with the never-ceasing uncertainty over US-China trade wars.

Before I focus on the macro, I have been enthused by the set-up seen on the daily and weekly chart of EURNZD.

GBP/USD has carved out a bottom in the early week and is rallying towards an important resistance level. US inflation data released later today can potentially offer a catalyst for a break higher.

Technical analysis gives us some hints, that this movement should be continued, at least on the Dollar Index and the EURUSD but do we have the same situation on other pairs with the USD?

Crude slipped last night over weaker oil demand outlook and increased US Crude Stockpiles. Ahead of the day, the market eye the US May Inflation data, which remains highly crucial.

Based on the early price action, the direction of the USD/JPY on Wednesday is likely to be determined by trader reaction to the uptrending Gann angle at 108.435. The major range is 105.180 to 112.405. The USD/JPY is currently trading inside its retracement zone at 108.793 to 107.940. Trader reaction

Based on the early price action, the direction of the NZD/USD on Wednesday is likely to be determined by trader reaction to the short-term 50% level at .6581. Pressuring the NZD/USD early Wednesday is the weaker-than-expected Visitor Arrivals report. Later today at 12:30 GMT, the U.S. CPI report could be

The US dollar has rallied significantly against the Japanese yen on Tuesday, breaking above the highs of the Monday session, which of course is a very bullish sign. With that in mind, it’s likely that we could continue to go higher.

The British pound has rallied a bit during the trading session on Tuesday, as we continue to see buyers right around the 1.27 handle. There is a thick band of support below, so it will be interesting to see if it can hold.

The British pound rallied during the trading session on Tuesday, wiping out the losses from the Monday session against the Japanese yen. That’s a reasonably bullish session that we are looking at, but we still have a lot of work to do before it’s a bullish pair.

The Euro chop back and forth during the trading session on Tuesday, just as it did on Monday. That being the case, it’s obvious that the market is starting to run into some resistance, which it has seen here previously.