The Forex market is complicated, but your market analysis doesn’t need to be.
We’ve combined Forex technical analysis and fundamental analysis into one comprehensive weekly Forex forecast so that traders can get a thorough understanding of the market without taking too much time away from their trading. Take a look at one of our featured currencies, or read our full weekly Forex forecast to get a picture of the market that you won’t find elsewhere.
The EUR/USD like many major currencies has found its value getting hammered lower as USD centric strength has galvanized global Forex amidst risk adverse trading and shifting behavioral sentiment.
Forex markets are seeing a strong US Dollar, which has climbed to a fresh yearly high, weakening European currencies such as the British Pound and the Euro, while Bitcoin climbs and stocks tumble.
WTI Crude Oil slipped to a mid-term term low as the weekend approached, this after the commodity saw incremental selling grow in power throughout the week in response to the election of Trump.
Global markets see volatility with GBP/USD nearing 1.25 support, USD strong across pairs, S&P 500 testing 5700, gold at $2500, and crude oil holding near $65.
US Stock and cryptocurrency markets are enjoying powerful rallies following the Republican victories in the US general election last week. Several major US equity indices and Bitcoin are powering to new record highs.
The GBP/USD finished the week of trading near the 1.29150 mark which was above the lows seen on Wednesday when the 1.28350 ratio was tested as behavioral sentiment was tested in full.
After challenging higher prices on Thursday near 73.000 USD, WTI Crude Oil started to selloff and by Friday’s close the price of the commodity was near 70.610.
Forex Weekly Forecast: Key trends, levels, and strategies for major pairs and markets.
Forex weekly analysis highlights key trends and support/resistance for USD/CHF, EUR/USD, AUD/USD, and Gold amid US election volatility.
Last week saw markets turn their attention to the US elections, which are too close to call, and the Federal Reserve’s policy meeting, which is almost unanimously expected to bring a rate cut of 0.25%.
The EUR/USD finished the week near the 1.08316 ratio, essentially returning to value the currency pair traversed on Wednesday, this as nervous financial institutions wait for the risk events that are coming.
WTI Crude Oil finished below the 70.000 USD per barrel price as the weekend approached, setting up a challenging week ahead for traders as fundamentals and behavioral sentiment are certain to collide.
Last week saw the US Dollar continue to make strong gains, while Gold reached a new record high. Markets will focus on the US Presidential election of 5th November, and NFP and GDP data releases in the USA.
The GBP/USD remains within mid-term lows as nervous sentiment has taken hold of global Forex and financial institutions brace for the likelihood of more volatility in the days ahead.
Israel attacked Iran over the weekend, but before traders bet blindly on upside they need to consider a couple of important viewpoints which have become evident in the WTI Crude Oil marketplace.
