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Forex Weekly Outlook from April 24, 2017- April 28, 2017

Mo Apr 24

EUR

Tomorrow on April 23, 2017 there will be president ship election in France. Media opinions mostly expressed that in case Le Pen (FN) wins, then there is a problem for EU, for the extreme right party is not really as a “friend” of multi cultures Union. This can affect the Currency EUR heavily. On the other hand, if Macron(EM) wins the president-ship election, then the situation of a together Union in Europe will be improved, so it is a positive sign for the EUR.

Our opinion about that election is just as a show-go. If we go a bit more in details to the European history, then we can recognize that when the society and economy  in one of the European country would be in trouble, then there is a rise for the extreme left and extreme right parties, so they have the reasons to rise.

If a system has been established and has been running in order, then it is not really easily to get collapsed in a short time, if any, then it is needed for a certain time to develop a counter system. The counter system of Le Pen is at the moment not really to see how it is or how it will be. Hence whether Le Pen wins, or other win, the EUR currency maybe be affected for a short time only.

More about the election polls check the link below:    

http://www.telegraph.co.uk/news/0/french-presidential-election-poll-tracker-odds/

Technical point of view we still keep the last analysis about the pairs EURUSD and adjust some more info, because the last of our analysis is still valid and EURUSD still run in that course:

Tue Apr 25

DXY

The U.S. economy is currently located in a, so our own opinion, very confused situation; the stocks markets are rising heavily due to the low interest rate has been kept for a too long time, on the other hand the buyback of stocks are increased enormously due to the lower interest rate and easy loans. Those factors provide us a sign of danger and an economical collapse.

Anyway due to the technical analysis, we still keep the last TA about DXY because it is still running in mentioned course. Take a look at the depicted chart for your info( blue call out is just adjusted today, others still remain intact):

GBP

Technical analysis

GBPUSD has been broken out. It took around 135 trading days (=193 days) to breakout the range as we depicted in most of the early charts.

Take your look at the depicted chart below for more info, we have adjusted some lines for the coming developing of that pairs:

Wed Apr 26

 AUD

Last Minutes of the Monetary Policy Meeting of the Reserve Bank Board has not indicated a rate hike, but also not a rate cut. Aussie has been taking its corrective wave and it is still in developing; we think that it is currently in reaching the C leg, take your look at the depicted chart for more info:

 

Thu and Fri Apr 27-Apr 28

JPY

The BOJ will release the policy rate on Thu Apr 27. There will be some interesting price movements for the pairs USDJPY.

Technical analysis just takes a look at the depicted chart below:

 

EUR

Minimum Bid rate and ECB conference. There will be a day for EUR. Just take your look again at the chart above for more info.

USD

Advanced GDP we will have on Friday, it is more important for us in the long run than the Unemployment rate on Thu. So take your look again at the DXY above for more info.

 Trade well!

m2m 

 

 

 

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