Dollars to Recover for the Week Ahead against the Loonie: Market Forecasts for May 4th – May 8th

Weekly Technical Outlook: USD/CAD

  • Stop loss 1.1937
  • Entry level 1.2084
  • First Target at 1.2272

Next targets to test at 1.2380, 1.2446

 

Dollars to Recover for the Week Ahead against the Loonie: Market Forecasts for May 4th – May 8th
Dollars to Recover for the Week Ahead against the Loonie: Market Forecasts for May 4th – May 8th

2

 

Technical Analysis

USD/CAD remains bullish after the consolidation above 1.1937 temporary low. The pair has recovered from 1.1937 as support turned resistance with the pin bar followed by bullish movement signaling a shift in movement. The reversal is in place with last week closing above the fib levels of 23.6, the pair should be able to make through the next area around fib 50 level and price at around 1.2387. And if price closes past the fib 50 levels, the pair should see at levels around 1.2446 of fib 61.8 levels.

Economic

  • ISM NY business conditions
  • Factory orders
  • Import, export
  • PMI service along with ISM non-manufacturing data
  • ADP employment change with non-farm PR for the US
  • Housing starts for the Canada
  • Ivey purchasing index
  • Building permit with new housing price index
  • Unemployment change with net change in employment
  • The move above the pin bar suggests that price has shifted its movement.
  • We look to enter at around 1.2084 from its current levels as the last candle suggests that there shall be a small pullback.
  • Key area price closed above the Fib levels at 23.6 at the end of the week.
  • Shall target fib levels of 50 and to the next levels at 61.8.

 

Area of Interest

  • The move above the pin bar suggests that price has shifted its movement.
  • We look to enter at around 1.2084 from its current levels as the last candle suggests that there shall be a small pullback.
  • Key area price closed above the Fib levels at 23.6 at the end of the week.
  • Shall target fib levels of 50 and to the next levels at 61.8.

 

For more detailed analysis from the author, please visit http://www.noafx.com/

Aussie looks to beat the kiwi for the week: Market Forecasts for April 13th – April 17th

Weekly Technical Outlook: AUD/NZD

  • Stop loss 1.0044
  • Entry level 1.0146
  • First Target at 1.0260
  • Next targets to test at 1.0296, 1.0384

 

Aussie looks to beat the kiwi for the week: Market Forecasts for April 13th – April 17th
Aussie looks to beat the kiwi for the week: Market Forecasts for April 13th – April 17th

1b

Technical Analysis

AUD/NZD traded higher after breaking the weekly support zone for the first time after the initial break. With a strong bullish movement going into the week, the pair should be able to retest the broken levels. The price action forms a five-bar fractals and the movement should bounce higher to potential resistance levels to the previously broken weekly support levels. The price should be able to make an upward bias as the current movement looks bullish for the pair.

Economic

  • Electronic Card Retail Sales for the New Zealand
  • REINZ House Price Index on Monday along with NZIER Business Confidence
  • The Business NZ PMI on Wednesday
  • National Australia Bank’s Business Conditions
  • Westpac Consumer Confidence on Wednesday
  • Employment Change on Thursday along with Unemployment Rate
  • Currently the price action suggesting the bullish movement with the five bar fractals
  • The pair closed above the fib levels of 23.6 on the daily chart
  • Entry level around 1.0146 as we expect the pair to make some pull back before making any upward move.
  • Shall look at the all important fib levels of 78.6 as it aligns with the weekly broken support levels.

 

Area of Interest

  • Currently the price action suggesting the bullish movement with the five bar fractals
  • The pair closed above the fib levels of 23.6 on the daily chart
  • Entry level around 1.0146 as we expect the pair to make some pull back before making any upward move.
  • Shall look at the all important fib levels of 78.6 as it aligns with the weekly broken support levels.

 

For more detailed analysis from this author, please visit http://www.noafx.com/

Gold to Shine Brighter Against the Dollar: Market Forecasts for April 6th – April 10th

Weekly Technical Outlook: XAU/USD

 

  • Stop loss 1179.30
  • Entry level 1193.60
  • First Target at 1209.95
  • Next targets to test at 1216.90, 1222.62

 

Gold to Shine Brighter Against the Dollar: Market Forecasts for April 6th – April 10th
Gold to Shine Brighter Against the Dollar: Market Forecasts for April 6th – April 10th

 

2

Technical Analysis

 

XAU/USD on the daily chart as seen above has found support at a very important level. The price in the past has respected this level and bounced off suggesting that, this time too, the level is looking good for going long on the pair.

The price action also tells us that the two bar reversal along with the three bar formation on the pair shall see some upward bias, but we shall look for some pull-back at around 1193.60 as price had not closed past the Fib levels of 61.8 at the end of last week. The area around 1193.60 or 1192.00 should be a good place to enter and go long on the pair.

Economic

 

  • Markit Services PMI, Markit PMI Composite on Monday April 06 2015 along with ISM Non-Manufacturing PMI
  • MBA Mortgage Applications and FOMC Minutes on Wednesday April 08 2015
  • Initial Jobless Claims released by the US Department of Labor on Thursday April 09 2015
  • Import Price Index both (MOM) and (YOY)
  • The current support levels where price has bounced of strongly in the past.
  • Wait for that all important pullbacks prior to entry around the 1193 – 1192 levels.
  • The two bar along with three bar fractals bullish signaling bullish movement.
  • The fib level of 61.8 is been tested as seen and price had not closed above the levels last week.

 

Area of Interest

 

  • The current support levels where price has bounced of strongly in the past.
  • Wait for that all important pullbacks prior to entry around the 1193 – 1192 levels.
  • The two bar along with three bar fractals bullish signaling bullish movement.
  • The fib level of 61.8 is been tested as seen and price had not closed above the levels last week.

 

For more detailed analysis from this author, please visit http://www.noafx.com/

Greenback to bounce against the Kiwi: Market Forecasts for March 30th – April 3rd

Weekly Technical Outlook: NZD/CHF

  • Stop loss 0.769
  • Entry level 0.758
  • First Target at 0.746
  • Next targets to test at 0.743, 0.740

 

Greenback to bounce against the Kiwi: Market Forecasts for March 30th – April 3rd
Greenback to bounce against the Kiwi: Market Forecasts for March 30th – April 3rd
2

 

Technical Analysis

NZD/USD as seen in the image has been rejected on the daily time frame with bearish engulfing bar, and price action suggests that the pair is in for some more downside move for the week as price closed below the fib level 23.6 at the end of the week. With the bearish movement still intact, the downside bias should see the pair in the zone of 0.743, 0.740.

Economic

  • New Zealand Money Supply released by the Reserve Bank of New Zealand
  • The Building Permits released by the Statistics New Zealand on Tuesday
  • FOMC Member Mester speech on Tuesday
  • FOMC Member Williams speech on Wednesday, followed by ISM data release forecasted at 52.50
  • The Bearish engulfing bar at the key resistance area
  • Price Action on the Fib 23.6 level was rejected and closed below the 23.6 level
  • Bearish movement still intact with the sellers taking control at the end of the week
  • If price reaches the Fib level 50.0 should consider partially exit on the pair

 

Area of Interest

  • The Bearish engulfing bar at the key resistance area
  • Price Action on the Fib 23.6 level was rejected and closed below the 23.6 level
  • Bearish movement still intact with the sellers taking control at the end of the week
  • If price reaches the Fib level 50.0 should consider partially exit on the pair

 

For more detailed analysis from the author, please visit http://www.noafx.com/

Kiwi to Slide against the Swiss: Market Forecasts for March 30th – April 3rd

Weekly Technical Outlook : NZD/CHF

  • Stop loss 0.742
  • Entry level 0.728
  • First Target at 0.718
  • Next targets to test at 0.715, 0.7107

 

Kiwi to Slide against the Swiss: Market Forecasts for March 30th – April 3rd
Kiwi to Slide against the Swiss: Market Forecasts for March 30th – April 3rd
2

Technical Analysis

NZD/CHF as seen in the chart, has been rejected on the daily time frame by forming a pin bar. The price action suggests that the pair is in for some more downside move for the week, as the fib level 23.6 was rejected and the pair closed below the fib levels of 23.6 at the end of the week. With the bearish movement still intact, the downside bias should see the pair in the zone of 0.718 – 0.715, 0.7107.

Economic

  • The Building Permits released by the Statistics New Zealand on Tuesday
  • New Zealand Money Supply released by the Reserve Bank of New Zealand
  • The KOF Swiss Leading Indicator is released on Monday forecasted to be at 89.10
  • The SVME Manufacturing Purchasing Managers Index on Tuesday expected at 47.20
  • The Pin bar rejection at the key resistance area
  • Price Action on the Fib 23.6 level was rejected and closed below the 38.2 level
  • Bearish movement still intact with the sellers taking control at the end of the week
  • If price reaches the Fib level 50.0 should consider partially exit on the pair

 

Area of Interest

  • The Pin bar rejection at the key resistance area
  • Price Action on the Fib 23.6 level was rejected and closed below the 38.2 level
  • Bearish movement still intact with the sellers taking control at the end of the week
  • If price reaches the Fib level 50.0 should consider partially exit on the pair

 

For more detailed analysis from the author, please visit http://www.noafx.com/

Kiwi’s Strong Run to Continue against the Yen; Market Forecasts for March 23rd – March 27th

Weekly Technical Outlook: NZD/JPY

 

  • Stop loss 88.51
  • Entry level 89.86
  • First Target at 91.14
  • Next targets to test at 91.87, 92.64

 

Kiwi’s Strong Run to Continue against the Yen; Market Forecasts for March 23rd – March 27th
Kiwi’s Strong Run to Continue against the Yen; Market Forecasts for March 23rd – March 27th

2

Technical Analysis

 

NZD/JPY on the daily time frame as seen is currently at a key flip area with price breaking the previous resistance levels, which are now converted to support area. The pair is looking strong at the support area as the bullish engulfing bar engulfing previous four days, and the last candle engulfing previous day, suggesting that the pair is moving into the week much stronger and should continue with the upward bias.

Economic

 

  • Westpac consumer survey results for the New Zealand on Monday
  • Trade Balance along with Exports and Imports data results on Wednesday
  • Yen results for foreign bond investments on Thursday.
  • National consumer price Index on Friday.
  • Looking for some pull back around to 89.86 levels.
  • Week ended with another bullish engulfing bar engulfing previous day candle.
  • Price action at flip area previous acted as resistance now turned to support zone.
  • Continuing with the upward trend bias.

 

Area of Interest

 

  • Looking for some pull back around to 89.86 levels.
  • Week ended with another bullish engulfing bar engulfing previous day candle.
  • Price action at flip area previous acted as resistance now turned to support zone.
  • Continuing with the upward trend bias.

 

For more detailed analysis from the author, please visit http://www.noafx.com/

Kiwi Topping the Dollar- Market Forecasts for March 16th – March 20th

Weekly Technical Outlook : NZD/USD

  • Stop loss 0.7183
  • Entry level 0.7308
  • First Target at 0.7429
  • Next target to test at 0.7494

 

Kiwi Topping the Dollar- Market Forecasts for March 16th – March 20th
Kiwi Topping the Dollar- Market Forecasts for March 16th – March 20th

2

Technical Analysis

NZD/USD pair on the weekly chart has re-tested the flip area where price which acted as resistance has become a strong area of support. The price action for the past couple of week on the weekly chart has tried to break the levels but had been unsuccessful.

The pin bar formation at this key support area proved to be very strong for the upward bias with price action suggesting that the pair is in for some more upward bias should the pair make a pull-back before continuing to the upside movement..

Economic

  • US building permits continue to disappoint from January for the year. We don’t see much improvement going into Tuesday.
  • US Rate decision on Wednesday. We expect no changes in the rate decision
  • NZD GDP looks expanding strongest gain possible in the last decade.
  • US unemployment data is forecasted at 289 K
  • US Philadelphia Fed Manufacturing Survey

Area of Interest

  • NZD/USD pair is at a flip area where price which was held at resistance, is now turning at support.
  • Price action created a false break on the weekly chart and has retested the levels again.
  • The pin bar moved the pair to 38.2 levels and retesting the 61.8 level.
  • Will look for a pullback to 0.7308 levels on the pair for Entry.
  • The Fib level 23.6 should be a key area if price does go past the 0.7494 level.

 

For more detailed analysis from the author, please visit http://www.noafx.com/

US Positive data shocks

Friday’s report had surged high with NFP adding two hundred and ninety five thousand jobs which shook the markets beating expectations. In spite of bad weather, the results were much higher than expected. The strength of the U.S dollar gave a whopping blow to all of its other peers. This has put the interest rate hike back on the driver’s seat, growing expectations that there is no reason for the FED to further push the hike, and the UE rate has also declined to 5.5% hitting FOMC’s target, this being the first time we see this rate since the FC.  

We expect that US will be the first to raise its IR in 2015 as we believe the word patience could be replaced with another word in this month’s statement. As we know the current long positions on USD are quite long, yet the traders are finding it hard to short USD. We will go by the trend and as long as we don’t find any reversal signals, we will not short the currency.

As we go for the Euros, the pair fell so low breaking beyond a point of 11 year, it also broke the 1K integer level at 1.1 with no difficulty. The next target is set for 2003 September low.

This is a 9th straight month of low lines in EURUSD with a 3000 pips decline since last year. Week after week the downside has been experiencing a lot of new recruits even after reaching over sold territories. Ever since August, the RSI strength meter is pointing oversold on the weekly pair, and it rose only once to fall behind lines.

The economic imbalance will continue to favor the dollar against Euros, and it is more likely for the FED to increase the interest rate. US economy has been growing strong for the last two years and we expect it to continue through this year. We decide to stay long on the USD and favor the downside with Euros.

Weekly Technical Outlook: AUD/CAD.

Market Forecasts for March 9th – March 13th

Loonie to Rebound

  • Stop loss 0.9827
  • Entry level 0.9701
  • First Target at 0.9591
  • Next targets to test at 0.9540

 

Weekly Technical Outlook: AUD/CAD.
Weekly Technical Outlook: AUD/CAD.

2

Technical Analysis

AUD/CAD on the daily chart has hit the resistance level and was unable to break past the key area. The Fibonacci level at 50 has been a strong rejection area for the pair as the bearish engulfing candle has engulfed previous three candles suggesting that the sellers are over powering the buyers. Also, with the pin bar generated recently, shows a sign that the pair is moving down strongly and should see price at 0.9591 – 0.9540 levels.

Economic

  • Australian Home loans data on Wednesday
  • Australian employment data along with Consumer Inflation      Expectation on Thursday
  • Canadian Housing on Monday
  • Canadian employment data on Friday

 

Area of Interest

  • Price currently at Key resistance level
  • Bearish Engulfing bar engulfed previous three bar a strong      indication
  • Fib level tested at 50 % with bearish Engulfing bars
  • Currently a pin bar suggesting the downside.

 

For more detailed analysis from the author, please visit http://www.noafx.com/

Weekly Technical Outlook: GBP/AUD: Market Forecasts for March 2nd – March 6th

Pound headed for some correction this week

  • Stop loss  1.9957
  • Entry level  1.9691
  • First Target to test at 1.9438
  • Next target to test at 1.9268

 

Weekly Technical Outlook: GBP/AUD: Market Forecasts for March 2nd – March 6th
Weekly Technical Outlook: GBP/AUD: Market Forecasts for March 2nd – March 6th

2

 

Technical Analysis

GBP/AUD pair, as seen on the weekly chart, has tested the flip area where the price previously acted as support is now at resistance level. The price has been unable to break past the levels with the back-to-back pin bar formation on the daily chart. This price action indicates that sellers are dragging the pair down and there is some correction towards the downside. With the price currently at the swing high, the movement has shifted and price should be able to reach target at 1.9438 – 1.9268.

Economic

  • Nationwide HPI is expected to remain at 0.3%. Manufacturing PMI expected to go up at 53.4%.
  • BOE Governor Mark Carney Speaks.
  • Mortgage Approvals – no change is expected from the release on Thursday.
  • Services PMI to improve is forecasted at 57.5%, Official bank rate too remain unchanged.
  • RBA Interest Rate Decision forecasted for another cut from 2.25% to 2%.
  • Price action currently at swing high, and price has been consolidating in the range.
  • We look for a break below the Pin bars.
  • Fib levels at 23.6 – 38.2

 

Area of Interest

  • Price action currently at swing high, and price has been consolidating in the range.
  • We look for a break below the Pin bars.
  • Fib levels at 23.6 – 38.2

Week in Focus

EURUSD is still range bounded between 1.1500 and 1.1270 for about a month. Price was rejected last week near the mid-term support zone 1.1270, but this by no means interests us to hit on the long boat. We are likely to wait on the sidelines for this week before jumping in on a sell. The sell levels should be at the resistance 1.1500 only when we get some clear indications. However, the overall market is on a downward trend.

Week in Focus
Week in Focus

 

GBPUSD: In the most recent weeks, this pair has managed to gain some new recruits for its long move all the way up to 1.5500 where the resistance holds strong. We are more likely to wait for a pull back to 1.5265 and 1.5200 and enter a long trade based on price action. If we see the price falling to enter towards the support zone, then we will keep a watch on the Daily signals and lower time frames to spot a long entry trailing the pair all the way back to the key resistance level.

2

AUDUSD, we have witnessed the pair moving long in the recent days, in spite of a strong bearish trend in place. This move was followed after the reversal candle formed on the daily chart near 0.7650’s on Feb 12th. Our bias remained bullish on the pair since Feb 3rd following the pin bar candle which showed a strong rejection at 650’s and 625. We still see a strong potential for the pair to climb up to 0.8025 resistance level in the coming days. For those of you looking to long this pair must wait and watch before entering. Buy levels can be spotted on the 4 hour and 1 hour chart, also at 0.7755 –0.7650 area.

3

For more detailed Forex analysis by the author and to ask him anything related to trading, visit http://www.noafx.com/

 

Market Forecasts for GBP/CAD for February 16th – February 20th

 Weekly Technical Outlook: Pound in for a fall this week

 

Market Forecasts for GBP/CAD for February 16th – February 20th
Market Forecasts for GBP/CAD for February 16th – February 20th
2

 

Technical Analysis:

As shown above, the pair has the hit the resistance level and has been rejected by the current level price which had previously acted as support, and has now turned resistance. The price is testing the levels once again by forming a Pin bar candle rejection followed by next day doji candle, suggesting that the pair has turned bearish and is looking further bearish for the week ahead with price moving between 1.8900 – 1.8850

Economic:

  • Pound’s inflation figure to drop to 0.4 %
  • Core CPI data to be released on February 17th
  • Bank of England Monetary Policy Committee Meet on 18th along with BOE of England Minutes

Area of Interest:

  • GBP/CAD pair has rejected the weekly resistance level
  • Pin bar with doji suggesting that pair is in for some rejection
  • Pound has been in a strong upward movement for the year 2015

For more article written by Sylvester Stephen, please visit http://www.noafx.com

 

 

 

 

The Car Driver and the Trader

There are a lot of similarities between a car driver and a trader. In fact, you, a growing trader, would learn a lot by imagining yourself to be a car driver. When you start driving a car for the first time, you are pretty much overwhelmed. There are so many controls in front of you and the sheer range of them throws you off guard and makes you wonder how you are going to master all of this so that you can drive your car with full control (so much for musing over those Jason Statham drifts, eh?).

The young trader feels the same. He has read through a lot of books and then sits in front of his trading platform to take his first trade, but then he is pretty much overwhelmed. The market is running up and down, his mind pushes him to take a specific trade, there is so much of news in the media which he needs to digest, there are indicators which push him to take a different trade and he is pretty much confused.

The young driver, pretty confused, starts settling down. He slowly and carefully maneuvers the wheel, pushes the accelerator, puts down the brakes and it slowly starts sinking in. But he still isn’t top of it yet. When he is thinking about the wheel, he forgets the accelerator and when he wants to speed up, he is actually pushing the brakes. The driver begins to feel frustrated on how the hell can he concentrate on all these things, all at the same time.

Cut to the young trader. His instincts tell him to go long on the Euro. He pushes the “buy” button. But then it goes all wrong and the trade ends in loss. Then he realizes that the indicators tell him to be on the sidelines and the fundamental news tells him to go short. He tries several trades but ends up losing almost every time and each time, he has ignored or forgot the things that he should have been doing to put on the perfect trade. The trader is at his wit’s end. He thinks…

‘How the hell can I digest all this information and put on the perfect trade each and every time?’

Back to the car driver. It all starts coming together. Practice, practice and more practice and then finally things start falling in place. Now he watches the road, pushes the accelerator, switches the gears with his legs on the clutch and he does all this at the same time, smoothly and without a thought and he is doing each of this.

The trader also reaches this level slowly. Practice and more practice for several months helps him sharpen his instincts and come up with a routine which helps him place the perfect trade. Now, his instincts, the indicators and the news are all in line, telling him the same thing. He checks his indicators, looks at the charts, reads news and then puts on the perfect trade, all in one smooth action without even realizing that he is doing all these things.

In this lies the lesson for traders. Like a car driver, the trader also needs to learn to put on good trades sub-consciously. Go through each and every aspect of his trading routine like a car driver, picking up information along the way, growing his instincts, all of which culminate in the placement of the perfect trade.

Practice. Lots of it.

Types of Trading – Which Type Suits You

There are different varieties of trading that are based on the trading behavior, length of the trade and the type of the analysis one goes with, etc. but there are three most important types of trading – scalping, day trading and swing trading. Not that the other types are irrelevant, but these three specific types of trading are important because of how they fit well with different types of human personalities.

Scalping is the type of trading where the trades are open for less than a minute. It is an intense form of trading which requires a huge amount of concentration for short bursts. The scalpers generally follow tick charts or 1 minute charts, study the price movement and make decisions on whether to go long or short and whether to continue with the trade or close it. Depending on the time spent for trading, the scalpers could do anywhere between 50 and 500 trades a day, much more if they use a software program to trade.

Day traders are those who are happy with profits at the end of the day. They generally put in money at the start of the day and would like to withdraw their profits at the end of the day. They usually follow the 5 minute and 15 minute charts and make less than 50 trades a day. It isn’t as intense as scalping but it could be as risky or rewarding as scalping.

The final type is swing trading. Swing trades are those that last several days. Some trades remain open for several weeks and sometimes months as well. As you can see, it’s a pretty relaxed form of trading where the trader uses the daily or weekly charts to analyze a trade and probably spends much less time trading than the day traders or scalpers. But again, the risks and the rewards are no less.

So, which type of trading suits you?

Unlike what most traders think, the type of trading that suits you isn’t the one that matches your office clock or your need for success/money. The trading style that suits you depends more on your character than on any other factor. If you are aggressive and are a go-getter by nature, scalping and day trading would be more suitable for you. If you are laid back and calculative in nature with lots of patience, then swing trading is more suitable for you.

One of the major mistakes that traders make is that they try to bend their character to suit the trading style that they have chosen. This is like putting the chariot in front of the horse. The trader should choose a style that blends and complements his character. There are a lot of traders who are aggressive by nature but they choose to do swing trading either due to the fact that they are busy or they have their office work to take care of. But they fail in the long run. They just cant change their mindset to just sit around and twiddle their thumbs while the swing trade does its job of running into profits. They need action. So, they cut off the swing trades early leading to huge losses.

Likewise, patient traders find the intense job of day trading and scalping too much for their emotions and ultimately fail.

 

Rather than fighting your instincts, try to embrace what you have and what suits you. Trading style is like your career and life partner which comes along with you all your life. Unless you are in sync with it and get along smoothly with it, it will only end in failure. Determine what kind of a person you are and choose the appropriate trading style to match that. Success will follow.

Trade of the Week

GOLD

Precious metal had taken a beating following the upbeat on US Jobs number this past Friday. We expect this momentum to continue with a ranging price action in the coming week. With US dollar gaining the upper hand we will eventually see the precious metal forming new lows.

Trade of the Week
Trade of the Week

Key Points

  • Monthly chart points lower to the 100 moving average stationed at 1203
  • Weekly chart further reassures this when the pair got rejected on the upper channel, suggesting more slides ahead
  • On the daily chart we have witnessed a strong bear action with enough room till 1214 and 1203
  • All of the above indications is strongly backed by the recent price action on Silver when it was rejected at 18’s, almost nearing the upper trendline channel before being smacked by the moving average.

Trading opportunities

  • On the lower time frames the market is expected to be range bounded between 1251/46 to 1220/14 before sliding further
  • Any actions by the Bulls are only seen to be temporary
  • It is a good idea to sell on the highest levels
  • A break below 1207 with a 5% penetration will be a strong confirmation for the pair to move

Traders Poll      

            

Pair

Average   Levels

Pair

Average   Levels

Week   1

Month   1

Quarter   1

Week   1

Month   1

Quarter   1

AUD/USD

7.677

6.9388

6.1001

EUR/GBP

0.7419

0.7361

0.7395

USD/CHF

0.9421

0.9407

0.9502

EUR/JPY

135.31

133.75

133.65

USD/JPY

118.3

119.01

120.19

GBP/JPY

178.92

178.35

178.75

GBP/USD

1.532

1.5149

1.5145

NZD/USD

0.7365

0.7295

0.7245

EUR/USD

1.1345

1.1221

1.1302

USD/CAD

1.2469

1.2593

1.2741

Source: Forex Forecast Poll from FXStreet

 

Currency Outlook

 

Pair

Average   Levels

Average   Levels

Week   1

Month   1

Quarter   1

Week   1

Month   1

Quarter   1

Majors

 

 

 

 

 

 

EURUSD

1.135

1.1218

1.1303

Sideways

Bearish

Bearish

GBPUSD

1.531

1.5152

1.5145

Sideways

Bearish

Bearish

USDJPY

118.22

118.72

120.16

Bearish

Sideways

Sideways

USDCHF

0.9418

0.9408

0.9504

Bullish

Sideways

Bullish

Pacific Crosses

 

 

 

 

 

 

AUDUSD

7.6773

6.939

6.1

Bullish

Bullish

Bullish

NZDUSD

0.7368

0.7297

0.7254

Sideways

Sideways

Sideways

G7 Crosses

 

 

 

 

 

 

USDCAD

1.2459

1.2595

1.2739

Sideways

Bullish

Bullish

GBPJPY

179

178.25

178.85

Bearish

Bearish

Bearish

EURJPY

135.28

133.79

133.63

Sideways

Sideways

Sideways

EURGBP

0.7416

0.7366

0.7393

Sideways

Bearish

Bearish

Source: Forex Forecast Poll from FXStreet

Disclaimer

High investment risks

Trading Foreign Exchange (Forex) on margin carries a high level of risk and may not be suitable for all investors. The high level of leverage can work against you as well as for you.

Please consider whether trading Forex is appropriate for you in light of your experience, goals as an investor, financial resources and risk appetite.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. You should be aware of all risks associated with Forex trading, and look for advice of any independent financial advisor if you have any doubts.

Opinion

Any opinion, news, research, analyses, or other information provided is for educational purpose only, and should be interpreted as general market commentary, not as an investment advice.

NoaFX or the author as an individual will not accept liability for any loss or damage, including but not limited to any loss of profit that may arise directly or indirectly from the use or reliance on such information.