superforex discussion thread

GBP/NZD: Technical Outlook before UK Bank Rate

USD/MXN: Short Review & Forecast

The USD has strengthened against most currencies based on positive economic news and increased probability for a new rate hike this year.
The U.S. dollar strengthened against most currencies this week. At the same time, the tragic event in Las Vegas wasn't noticed by investors amid positive economic news, which increases the probability of a rate hike in the United States. FED Chairman Janet Yellen also said that the Central Bank is not going to refuse one more rate hike which was scheduled this year. In addition, the dollar received support from the tax reform which was promised personally by Donald Trump. Also, the USD has been supported given the probability of a change of the head of the Federal Reserve. Analysts forecast that Kevin Warsh will be chosen as new FED Head. It's known that he is a supporter of a strong dollar and tight monetary policy. Consequently, there are perspectives for further strengthening of the dollar.

Data about the Mexican economy also pleased investors this week. The business activity index amounted to 52.8 points in September, surpassing investors' expectations. This is a record level in recent years, but the decision of the Central Bank of Mexico to keep the rate at the same level didn't support significantly the MXN compared to the strong dollar. So, the rates continue in the frames of a downward trend, although the resistance line has been gradually shifting upwards for the last several months, indicating a weakening of the current trend. However, at the moment the most optimal would be the deals on the trend, which is confirmed unanimously by the MACD and Stochastics oscillators.

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XAU/USD: Short Review & Forecast

The strong USD and the high probability of a rate hike this year put pressure on the GOLD. However, the geopolitical situation can change everything.
The situation on the market changed last month and the upward trend turned into a downward one. Until September the dollar had been under pressure due to geopolitical conflicts, the failure of Donald Trump's reforms and weak economic statistics. Consequently, a further increasing of the interest rate this year was doubtful for investors. All these negative factors followed one by one and put pressure on the dollar. Therefore, investors chose safer assets. This led to the Gold rising in price since the beginning of the year.
This week the dollar came under pressure again due to geopolitical risks because North Korea has announced new tests of ballistic missiles which are capable of reaching U.S. territory. However, the dollar has kept at a good level due to the strong economic statistics. The latest data on the labor market showed a decrease in the unemployment rate to 4.2% - the lowest level since 2001. In addition, the average hourly earnings have grown by 2.9%, which increases the probability of rising inflation. Therefore, a rate hike in the US in December is now expected by investors with a probability of 90%.
The resistance line of the trend is under the threat of moving up due to all of the geopolitical risks, but at the moment the most optimal course would be the short deals in the short-term, which is also confirmed by the MACD oscillator.

Brexit Struggles

Dark times lie ahead for the United Kingdom.
The bad news for the United Kingdom only seem to pile up ever since the Brexit vote last June. With EU nationals members of the labour force leaving the UK in favor of other European countries, the major decline of the British pound sterling (12% versus the USD), and political instability caused by tough negotiations with the European Union, the economy of the United Kingdom is not what it used to be.
More information see here

USD/CAD Technical Analysis

Today we can take advantage of the bearish movement of the pair.
After the weekend, today in the US a lot of macroeconomic indicators and monthly reports are coming. At the moment the reserve currency, relative to the main pairs, continues to lose ground and the dollar index is near the mark of 92.61.
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EUR/USD Technical Analysis & Daily Chart

Enter the market only after the formation of a certain trend.
Today the Senate is expected to vote on the adoption of Trump's tax reform. Against this background, the US dollar since the beginning of the trading day has regained some of its positions relative to other pairs.
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EUR/SGD: Fundamental Review & Forecast

With decreasing geopolitical risks in the EU, there is potential for the euro to strengthen.
The unstable political situation in the EU has had a negative impact on the EUR/SGD over the past few months. However, the situation has changed unexpectedly since November with the formation of an upward trend. The support line has already changed its direction.
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GBP/USD Technical Analysis & Daily Chart

Yesterday there were several events that affected both currencies. They helped the pair gain a foothold above the 1.3400 mark and at the moment the pair is trading near the 1.3456 mark.
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OPEC Renews Agreement

Despite OPEC's decision to extend cuts into 2018, oil prices only made moderate gains.
Yesterday the Organization of Petroleum-Exporting Countries held their long-awaited summit in Vienna. OPEC members met the expectations of investors perfectly by agreeing to extend their current agreement to reduce oil extraction past its expiration date, from March 2018 until the end of next year.
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USD/CHF Technical Analysis

By the beginning of the trading week the dollar opened in positive territory, despite the political squabbles associated with the resumed investigation of the intervention of the Russian special services in the election of the US president.
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https://superforex.com/analytics/usd...1217/?x=FORUMS

EUR/USD Technical Analysis

By the beginning of today's trading session the dollar began to strengthen. Today we expect a number of macroeconomic indicators from the US and the eurozone.
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USD/MXN Technical Analysis & Daily Chart

The MXN has been gradually strengthening but next week the situation can change again in favor of the USD.
Mexico's economy is gradually recovering from the impact of natural disasters, which positively affected the rate of the MXN. After a lasting uptrend and a consolidation phase, the MXN strengthened against the dollar by 4.1%.
More information see here
https://superforex.com/analytics/usd...hart/?=xFORUMS

USD/MXN Technical Analysis & Daily Chart

The MXN has been gradually strengthening but next week the situation can change again in favor of the USD.
Mexico's economy is gradually recovering from the impact of natural disasters, which positively affected the rate of the MXN. After a lasting uptrend and a consolidation phase, the MXN strengthened against the dollar by 4.1%.
More information see here

GBP/USD Technical Analysis

We have a bearish trend with this pair.
Recently the UK's national currency has been in a state of stress amid political scandals and the Brexit negotiation process. This is why the recent breakdown of the next round of negotiations led to fears about the dismissal of Prime Minister Theresa May and the fall of the pound.
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