Forex forecasts and market outlooks

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19.08.2019 - 13.08.2019

AUD/JPY: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the lines are horizontal . Confirmative line Chikou Span is approaching the price chart from below, current cloud is descending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (71.66). The closest resistance level is the lower border of the cloud (72.86).

EUR/NZD: Ichimoku clouds

Let's look at the four-hour chart. Tenkan-sen line is below Kijun-sen, the lines are horizontal . Confirmative line Chikou Span has crossed the price chart from above, current cloud is ascending. The instrument has entered the cloud. The closest support level is the lower border of the cloud (1.7185). The closest resistance level is the lower border of the cloud (1.7300).

GBP/CAD: Ichimoku clouds

Let's look at the four-hour 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 above the price chart, current cloud is descending. The instrument has broken through the cloud and slowed down its growth. The closest support level is the upper border of the cloud (1.6080). One of the previous maximums of Chikou Span line is expected to be a resistance level (1.6160).

GBP/USD: general analysis

The GBP/USD pair has maintained a downward trend and has lost more than 400 points in the last two and a half trading weeks. Having reached the lower border of the channel at the level of 1.2015, the price reversed to corrective growth. Over the past few days, it has already gained about 100 points and is trading near a strong resistance level of 1.2110.

Core Retail Sales. United States, 14:30 (GMT+2)

The index reflects changes in the monthly US retail sales, excluding cars. It is an important indicator of consumer spending, as well as the pace of development of the US economy. The data above the forecast strengthen the USD, and the data below the forecast affect the national currency negatively. It is predicted that the July the index will remain at the same level of 0.4%, and total sales will fall from 0.4% to 0.3%.

Philadelphia Fed Manufacturing Index. United States, 14:30 (GMT+2)

The index measures the economic well-being of the manufacturing sector in the Philadelphia area. Values ​​above zero indicate improved conditions in the manufacturing sector, while values ​​below zero indicate deterioration. Data is taken from a survey of about 250 manufacturers in the Philadelphia Federal District. The index may provide some assistance in predicting the US ISM. The data above the forecast strengthen the USD, and the data below the forecast affect the national currency negatively. It is predicted that the index will fall from 21.8 to 10.0 points in August.

EUR/USD: general analysis

This week, the EUR/USD pair was corrected downwards amid strong US inflation data and poor EU industrial production and German GDP. However, yesterday the yield of ten-year US Treasury bonds fell below the yield of two-year ones, which is a serious indicator of the economic downturn. The inverted yield curve weakened the US stock market but USD resisted, with minor losses. US-China confrontation continues to escalate. Yesterday, President Trump linked the conclusion of a trade deal with the “humane” actions of the Chinese authorities against the protesting population of Hong Kong. Beijing may take this statement as interference in internal affairs, which could lead to new complications in the negotiations.