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.

09.04.2020

Morning Market Review

Today, during the Asian session, the EUR/USD pair is growing slightly, continuing to develop the “bullish” momentum formed on Tuesday. Yesterday, EUR declined due to the failure of the Eurogroup negotiations, which lasted more than 15 hours. Initially, the meeting was supposed to agree on a new package of measures to support the European economy of more than 500 billion euros but due to several disagreements, a consensus was not reached.

USD/CHF: wave analysis

The probability of the pair reducing remains.

On the daily chart, the third wave of the higher level (3) is developing, as part of which the wave 3 of (3) is forming. Currently, the development of local correction as the second wave of the lower level ii of 3 has completed and the formation of wave iii of 3 has begun, as part of which the local correction (ii) of iii has completed. If the assumption is correct, the decline of the pair will continue to the levels of 0.9167–0.9000. The level of 0.9803 is critical and stop-loss for this scenario.

AUD/USD: wave analysis

The pair is in correction; the probability of growth is maintained.

On the daily chart, the downtrend continues to develop as a wave of the higher level (C), as part of which a wave of 3 of (C) has formed. At the moment, local correction is developing as the fourth wave 4 of (C), as part of which the wave c of 4 is developing. If the assumption is right, the growth of the pair will continue to the levels of 0.6457–0.6682. The level of 0.5985 is critical and stop-loss for this scenario.

Industrial Production. United Kingdom, 08:00 (GMT+2)

At 08:00 (GMT+2), in the UK data on industrial production for February will be published. The indicator fixes the level of change in the volume of industrial production and utilities in the country. The calculation takes into account the manufacturing and mining industries, as well as the electric power industry. Production is expected to grow by 0.1% after a 0.1% decline a month earlier. An implementation of the forecast may support the pound.

EUR/CHF: 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 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 (1.0549). The closest resistance level is Tenkan-sen line (1.0562).

AUD/CAD: 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 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 (0.8680). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.8766).

EUR/JPY: 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 above the price chart, current cloud is descending. The instrument has been corrected to the Tenkan-sen line. The closest support level is Kijun-sen line (117.882). The closest resistance level is the lower border of the cloud (118.746).

08.04.2020

GBP/AUD: 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 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 (1.9744). The closest resistance level is the upper border of the cloud (1.9931).