EURAUD forex outlook

Weekly Forex Outlook: June 17

Good morning crew 👋 and a good weekend too! Another trading week has passed and one theme of this week was pretty much waiting for the big events. We had multiple central bank interest rate decisions and we could often see the market being relatively quiet in between these events. Nevertheless, there were some good opportunities, especially on the daily charts.

 

But first, let’s review our weekly outlook for last week! Let’s start with EURAUD on the daily. I mapped out two scenarios last week, one being a retracement before moving down and one being an immediate break of the support zone. Well, after some hesitation, the support level broke and the price moved down for the second part of the week. A nice trade could be had if you’d entered a short position here!

 

EURAUD review

 

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USDNOK forex outlook

Weekly Forex Outlook: June 3

Hello, champs! The week is done and I’m spending my weekend doing some trade analysis and of course writing the weekly forex outlook! I’ve spent last Thursday travelling on the bullet train from Kyoto to Tokyo and I’m now spending a month in Tokyo. So far, I love it here!

 

 

 

Last week was a bit challenging with lots of setups that didn’t have a follow-through. It’s in these times that knowing when to cut a trade is very important. I took 3 trades: the EURUSD 4H short, the USDCHF 4H long and a 1H short on EURNZD. It ended up being a break-even week for me.

 

If you want to keep up to date on setups during the week, have a look at my TradingView page. During the week, I will often publish a chart setup over there as well if I think it’s worth looking at.

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EURAUD forex outlook

Weekly Forex Outlook: May 6

Happy Sunday, squad! How was your week? I recently decided to do some trading and travelling (’cause why not?) and have just spent my first week in Kyoto, Japan. The combination of a rich culture, beautiful weather and delicious food is really growing on me! For the next couple of months, I’ll continue to combine trading with travelling and Japan was the first on my list. If you happen to live in Kyoto or Tokyo and want to meet up for some drinks, get in touch!

 

Sugoi! Kyoto rocks. Epic culture, beautiful nature and delicious food 🍜🍣⛩🏯😎 

A post shared by Smart Forex Learning – Felix (@smartforexlearning) on

 

Last week had some good opportunities for reversal traders but it wasn’t always as easy to trade. There are still a lot of uncertainties related to the North-Korea conflict and it was a news-heavy week with FOMC speak and an NFP release. This made some markets less predictable than usual but as traders, we have to take the market as it makes information available to us.

 

The most important upcoming event is the second round of the French elections on Sunday (7 May). If you remember two weeks ago, we had a big post-French election gap after the first election round that was almost ubiquitous across many Euro-related markets.

 

French election gap forex

 

By now, Macron seems to be comfortably in the lead over Le Pen, so most of the Euro bullishness should be already priced in. I wouldn’t be surprised to see the euro sell off after the election results since a correction is long overdue and this could be a “buy the rumour, sell the news” kind of reaction.

 

Last week’s market did set us up with quite some good opportunities for next week, so we’ll go over that in a minute. If you want to keep up to date on setups during the week, have a look at my TradingView page. During the week, I will often publish a chart setup over there as well if I think it’s worth looking at.

 

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NZDUSD

Weekly Forex Outlook: March 11

Another week has passed, so I’m back with my weekly trading outlook! Last week was quite interesting, with a couple of nice opportunities in the market. Most of the setups I mentioned last week didn’t yet materialise, though, so we needed to be patient. Since we always want to see some confirmation first, I just didn’t take any of those setups, which is fine. There were some interesting other opportunities in the market too.

 

Current market behaviour

 

The US dollar index saw some up and down this week. Initially, there was plenty of positive momentum to drive the dollar higher against the basket of other currencies. However, as the rate hike was priced in as an almost certainty (over 90%), there wasn’t a lot of news that could push the dollar higher. The NFP release on Friday was quite good – better than expected – but we saw a classic “buy the rumour, sell the fact” reaction. The dollar ended the week a bit lower than it opened.

 

Forex market outlook

 

Often, gold and the dollar will have an inversely correlated price pattern, but this week was different. Markets felt quite risk-on and equities have risen in the past week. This leaves money flowing out of the safe havens such as gold and the Japanese yen, which we could clearly see in the past week. Gold sold off almost the entire week to end sharply lower.

 

Finally, oil dropped below $50 a barrel in quite a strong move. In fact, we haven’t seen these prices since the OPEC production cuts were announced and it was the worst week for oil since November. This might be a move that’s not over yet, but we have to see what next week brings.

 

 

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EURGBP Daily chart

Weekly forex outlook: January 14

Hi traders, hope you had a good week! There were definitely some nice setups in the market last week. Especially the EURAUD and AUDUSD reversals gave us some good opportunities to get into the market. News-wise, last week was relatively quiet. As it is the weekend again, I’m going through my routine of analysing the markets and selecting the best setups for the upcoming week.

 

But first, a short overview of what happened last week. The dollar sold off a bit more and it seems that a reversal of some sorts has finally set in (although it’s quite early to tell, it might still reverse to the upside again!). As the USD and Gold are inversely correlated, we could see a push higher for gold. Oil moved a bit lower.

 

Market overview

 

 

 

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