Forex forecasts and market outlooks

High-quality Forex forecasts and financial market reviews from professional analysts are added daily!

Clients of the Tifia broker get exclusive access to high-quality materials from independent analytical agency Claws&Horns in their Client Cabinet: technical and fundamental market analysis, Forex economic event calendar, currency, stock, index forecasts, trading indicators signals and much more.

18.02.2020

GBP/JPY: Ichimoku clouds

On the daily chart Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Kijun-sen line (142.70). The closest resistance level is Tenkan-sen line (146.00).

CAD/CHF: Ichimoku clouds

On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (0.7370). The closest resistance level is Tenkan-sen line (0.7430).

AUD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, both lines are directed downwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (73.197). The closest resistance level is Tenkan-sen line (73.629).

RBA Meeting Minutes. Australia, 02:30 (GMT+2)

At 02:30 (GMT+2), the minutes of the last meeting of the Reserve Bank of Australia on monetary policy will be published, which may contain hints of further actions of the regulator. At the January meeting, the RBA left the rate unchanged at 0.75%, and the head of the bank, Philip Lowe, said that the regulator is still ready to further soften the monetary policy, if necessary, to support sustainable economic growth. Lowe also noted that forest fires and the Chinese epidemic could put near-term pressure on domestic growth.

17.02.2020

CAD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the blue line is directed upwards, while the red one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. The closest support level is Tenkan-sen line (82.92). One of the previous maximums of Chikou Span line is expected to be a resistance level (83.45).

EUR/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the blue line is directed downwards, while the red one remains horizontal. Confirmative line Chikou Span is below the price chart, current cloud is descending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. One of the previous minimums of Chikou Span line is expected to be a support level (1.6800). The closest resistance level is Kijun-sen line (1.6926).

GBP/CAD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Confirmative line Chikou Span is approaching the price chart from above, current cloud is ascending. The instrument has entered the cloud. Borders of the cloud serve as the closest support (1.7207) and resistance (1.7295) levels

Key Releases

USD is weakening against EUR but is strengthening against GBP and JPY. Today is a day off in the US, so financial institutions are closed, and investor activity is reduced. Published on Friday, data on retail sales and consumer sentiment support the dollar. In January, retail sales accelerated growth from 0.2% to 0.3%, and preliminary February data on the consumer sentiment index from the University of Michigan recorded an increase to 100.9 points, the highest level since last May.

NZD/USD: general analysis

In the first half of last week, the NZD/USD pair rose moderately after a RBNZ meeting. As planned, the Bank kept rates at a low level of 1%, while its head, Adrian Orr, forecasts growth acceleration in the second half of 2020. He added that the regulator is ready to implement monetary and fiscal stimulation if the coronavirus has a lasting effect on the economy.