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.
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Last week, risk-on sentiment improved strongly as the US Federal Reserve delivered a half-point rate cut while promising a further 50 basis points of cuts by 2025. Gold and the S&P 500 Index ended the week at new record highs.
The ability of the EUR/USD to sustain its higher realms late this week and not suffer any major reversals lower after Wednesday’s volatility is a solid signal.
Get the weekly Forex forecast for major currency pairs for the week of September 23-28, 2024 here.
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Last week saw mixed sentiment and unexpectedly robust US CPI and PPI data, which cast doubt on the anticipated fast pace of approaching rate hikes by the Federal Reserve. This boosted the USD, although markets resumed moving in the direction of long-term trends by the end of the week.
Trading in the GBP/USD last week was full of volatile reversals and since the last week of August the currency pair has proven difficult for traders looking to latch onto a trend and ride momentum.
WTI Crude Oil touched the 70.400 vicinity on Friday, which was a high for the week and challenged values seen the previous Friday.
Get the weekly Forex forecast for major currency pairs for the week of September 16-21, 2024 here.
Last week, increasingly dovish expectations emerged in markets of the US Federal Reserve after relatively weak non-farm payroll data was released on Friday. Fears of a hard landing for the US economy built all week, generating stronger risk-off sentiment.
The EUR/USD exchange rate started last week’s trading rather comfortably near the 1.10400 to 1.10500 ratios, but by Tuesday nervous conditions globally certainly started to be seen as financial institutions began to question existing outlooks.
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Traders were treated to a full week of price velocity within WTI Crude Oil as behavioral sentiment shifts in global financial markets clearly started to express nervousness.
Get the weekly Forex forecast for major currency pairs for the week of September 09-14, 2024 here.
Last week, the US Dollar recovered after economic data showed unexpected strength in the US economy, calling into question the Federal Reserve's post-September rate cuts. Stock markets ended the week mostly higher.
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Get the weekly Forex forecast for major currency pairs for the week of September 02-07, 2024 here.
Proving behavioral sentiment is often the main factor in Forex, the GBP/USD climbed with rapid capability when U.S Fed Chairman Jerome Powell reiterated what most financial institutions already knew.
On Thursday of last week WTI Crude Oil was trading rather serenely around a low of 72.520, a mark it had traded below on Wednesday, but suddenly the commodity began to traverse higher.