The European Central Bank adhered to its hawkish stance. Powell signaled on Wednesday that the era of tightening monetary policy is likely over. Markets are currently pricing in a 75% likelihood of a rate cut by the Fed in March. Friday’s EUR/USD outlook is bullish as the currency rallied, propelled by the European Central Bank’s...

The post EUR/USD Outlook: Euro Gains as ECB Maintains Hawkish Stance appeared first on Forex Crunch.

Financial markets are calm this morning on what is likely to be a quiet day for investors with the US, among others, observing the Columbus bank holiday and Japan also enjoying a bank holiday. As a result the economic calendar is very thin with nothing noteworthy to be released but attention should be given to...

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Dairy Prices Weighing on NZD The New Zealand Dollar has come under fresh pressure across the board over the last week. One contributing factor has been the relative improvement in the outlook for the dairy supply which is expected to keep prices, and thus NZD, under pressure. Instead of being a function of weaker demand,...

The post NZDUSD Under Heavy Selling Pressure appeared first on Forex Crunch.

Dollar index monthly chart Fundamental analysis on Macro US economy US GDP turned lower to 1.2%. This was the lowest growth rate in a year. US Non-Farm payroll decelerated despite unemployment rate is at 16-year low of 4.3% US Service PMI & Non- Manufacturing PMI slowed down, and Factory activity is at 4-month low and...

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The USD/JPY pair could drop deeper if it stabilizes below the broken uptrend line. The rate could come back to test and retest the broken support before resuming its sell-off. After failing to reach the upper median line (uml), the USD/JPY pair could be attracted by the median line (ml). Our USD/JPY forecast sees the...

The post USD/JPY Forecast: Challenges 115.00 Psychological Level appeared first on Forex Crunch.

The GBP/USD pair moves sideways in the short term, a valid breakout from this formation could bring great opportunities.  A new lower low, a downside breakout could announce a deeper drop. Only a valid breakout above the downtrend line could announce that the downside is limited.  Our GBP/USD forecast sees the pair moving sideways in...

The post GBP/USD Forecast: Upside Invalidated, 1.35 Breakdown In Cards appeared first on Forex Crunch.

The price of Gold is strongly bullish after passing above the inside sliding line (sl). XAU/USD could extend its growth if it takes out the near-term resistance levels. False breakouts through the immediate obstacles may announce a new sell-off.  Our gold forecast sees the price trading in the green at 1,830.94 below 1,832.61 today’s high....

The post Gold Forecast: XAU/USD Poised To Challenge 1,834.19 Resistance appeared first on Forex Crunch.

The price of Gold plunged after better than expected Non-Farm Payrolls data. A major downside movement could be activated by a valid breakdown below the uptrend line. XAU/USD could try to come back higher as long as it stays above the lower median line (lml). In our gold forecast we see the price of the...

The post Gold Forecast: Plunge After NFP, 1,784.90 A Downside Obstacle appeared first on Forex Crunch.

The GBP/USD pair maintains a bearish bias as long as it stays under the channel’s downside line.  A valid breakdown below the 61.8% retracement level could signal potential drop towards the lower median line (LML). The US economic data could be decisive in the short term. Our GBP/USD forecast sees the pair accelerate its sell-off...

The post GBP/USD Forecast: Downside Continuation, 1.34 Fails To Hold appeared first on Forex Crunch.