Forex Weekly Trading Forecasts: A Return of Liquidity Likely to Revive Volatility, Trend Development

Forex Weekly Trading Forecasts: A Return of Liquidity Likely to Revive Volatility, Trend Development

Dollar Pushed to the Edge with Risk and Yields Raising the Stakes

Though its progress was restrained by the same liquidity drain that reined in risk trends, the dollar managed a broad recovery this past week. Yet, the conviction behind this move comes with a heavy dose of doubt.

Bullish USD/JPY Outlook at Risk as Japanese Inflation Picks Up

A further pickup in market sentiment should continue to fuel the near-term rally in the USD/JPY, but the fundamental developments coming out next week may keep the dollar-yen contained within the wedge/triangle formation as the Bank of Japan (BoJ) remains upbeat on the economy..

British Pound at Clear Risk as Positions Stretched and Gains Slowing

The British Pound was the only major currency to strengthen against the US Dollar in a holiday-shortened week of trading, but can it continue higher? The high-flying Sterling will need support from the Bank of England to hold near multi-year peaks in the week ahead.

Gold Carves Lower High in April- Bearish Below $1327

Gold is off sharply this week with the precious metal shedding 1.7% to trade at $1298 heading into the weekend. The sell-off comes on the back of the strong performance in US equity markets with all three major stock indices closing higher by 1-1.7% on the week.

Australian Dollar Facing Conflicting Domestic, External Catalysts

The Australian Dollar’s month-long winning streak ran into resistance last week as the build-up in RBA policy expectations stumbled.

New Zealand Dollar: Lots of Room to Disappoint in RBNZ

The market seems pretty certain that the New Zealand central bank will usher in the strongest wave of monetary policy – and thereby carry increase – of the majors.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Source: 

Forex Weekly Trading Forecasts: A Return of Liquidity Likely to Revive Volatility, Trend Development


Key Risks to EUR, NZD, GBPAUD Scalp Setups

Key Risks to EUR, NZD, GBPAUD Scalp Setups

Talking Points

GBPAUD rally fizzles out ahead of key resistance- 1.8022/50 critical
NZDUSD eyes monthly low to validate broader reversal
EURUSD stuck in key inflection range 1.38-1.3830- weekly open in focus

GBPAUDDaily Chart

Notes: Our favored setup this week was the GBPAUD scalp highlighted on Tuesday. The breach above channel resistance dating back to the March high coupled with a weekly opening range break shifted our focus to the topside with the subsequent rally turning over just 3pips ahead of the 1.8022/50 key resistance range. The focus heading into next week is whether or not this breakout will materialize into a more substantial rally as we keep focus on the broader head and shoulders formation which broke last month. Note that price closed the week just below resistance as the daily RSI signature held below a longer-term resistance trigger dating back to the December high. The broader outlook comes back into focus as we open up trade next week with only a breach/close above 1.8050 suggesting that a more significant low may have been put in this week.

Read more on the GBPAUD setup

NZDUSDDaily Chart

Notes: The NZDUSD setup also played out well this week with a clear weekly opening range break below a Fibonacci support confluence at 8630 validating our bearish scalp bias early in the week. The resulting sell-off achieved two of our three support objectives before settling just below former trendline support/ Fibonacci confluence at 8582. A failure to hold above the initial April opening range highs keeps the focus on the monthly low at 8512 with a break below this threshold suggesting a more significant high was put in place this week.

Read more on the NZDUSD setup

EURUSD Daily Chart

Chart Created Using FXCM Marketscope 2.0

Notes: Last week we noted the breach above the April opening range and although the pair continues to hold above the 1.38-handle (bullish invalidation) we remain neutral within the 1.38-1.3830 range. This region has riddled with reversals, throw-overs, and false breaks dating back to the October highs and is highlighted by key longer-term Fibonacci extensions and retracements. Note that we cannot invalidate the broader topside play here so long as price holds above 1.38 and we’ll look for the Sunday/weekly opening range to offer further clarity on our immediate scalp bias with a close below shifting our focus to the short-side of the euro.

Read more on the EURUSD setup

Follow the progress of these trade setups and more throughout the trading week with DailyFX on Demand.

—Written by Michael Boutros, Currency Strategist with DailyFX

For updates on this scalp and more setups follow him on Twitter @MBForex

To contact Michael email mboutros@dailyfx.com or Click Here to be added to his email distribution list

Interested in learning about Fibonacci? Watch this Video

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

Credit: 

Key Risks to EUR, NZD, GBPAUD Scalp Setups


India 2wk Deposit Growth Increase to 15 % Vs Prev 14.60 %


INDIA 2WK DEPOSIT GROWTH INCREASE TO 15 % VS PREV 14.60 %
The material has been provided by InstaForex Company – www.instaforex.com

Original article - 

India 2wk Deposit Growth Increase to 15 % Vs Prev 14.60 %