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.

01.06.2020

USD/CHF: technical analysis

On the 4-hour chart, a downtrend is forming. The instrument is decreasing along the lower border of Bollinger bands, the indicator cloud is expanding, it is likely that the downward trend will remain in the short term. The MACD histogram is in the negative region, gradually increasing volumes, the signal line crosses the histogram body downwards, forming a signal to open short positions. Stochastic is on the border with the oversold zone, the oscillator lines are reversing downwards.

Manufacturing PMI. UK, 10:30 (GMT+2)

The UK Manufacturing PMI for May is due at 10:30 (GMT+2). The indicator is compiled from the enterprises responses about their purchasing activities and supply situations. At the same time, the attitude of purchasing managers to the current economic situation and prospects for its further development is evaluated. It is expected that the indicator will increase from 40.6 to 40.7 points, which can support the pound.

Morning Market Review

EUR is trading up against USD during the morning trading session. EUR continues a fairly confident "bullish" trend, which was formed last week and is being traded near the local highs of last Friday (highs since March 27). Investors buy EUR under their own momentum, expecting a further improvement in the epidemiological situation that will allow the global economy to begin the recovery process. Today, investors are focused on Markit macroeconomic statistics on business activity in the manufacturing sector of the eurozone. Similar data from ISM will be published in the US.

Manufacturing PMI. EU, 10:00 (GMT+2)

The euro area's Manufacturing PMI for May is due at 10:00 (GMT+2). The indicator is compiled from the enterprises responses about their purchasing activities and supply situations. At the same time, the attitude of purchasing managers to the current economic situation and prospects for its further development is evaluated. According to forecasts, the indicator will remain at the same level of 39.5 points.

Manufacturing PMI. Germany, 09:55 (GMT+2)

Manufacturing PMI data for May in Germany will be published at 09:55 (GMT+2). The indicator is compiled from the enterprises responses about their purchasing activities and supply situations. At the same time, the attitude of purchasing managers to the current economic situation and prospects for its further development is evaluated. According to forecasts, the indicator will remain at the same level of 36.8 points.

XAU/USD: wave analysis

The price may fall.

On the 4-hour chart, an upward correction of the higher level developed as the wave (B), within which the fifth wave v of C developed. Now, the formation of the wave (C) has begun, within which the first entry wave of the lower level (i) of i of 1 of (C) has formed, and a local correction is developing as the wave (ii) of i. If the assumption is correct, the price will fall to the levels of 1667.44–1634.13. In this scenario, critical stop loss level is 1765.45.