Forex Chart Review and Forecast
Let’s review our Forex charts HERE, on, April 9th, 2018, in our Forex Signal and Forecast report, we talked about how we are looking at DXY pushing up to 90.80 and EURUSD down towards 1.2180. However, there are liquidity pools that needs to be closed out first and this means we will most likely see a climb up on EURUSD to 1.23494 area and for DXY a drop to 89.54 (which appears to be happening as we write this forecast). We are looking for signals of changes around these levels, however, DXY has to close out a gap that ends at 89.64 (just happened as we typed this report) and EURUSD to close out an unfilled gap at 1.2372, we are looking for short signals on EURUSD after that.
Forex News Review
In today’s Forex Forecast and Signals, we start by reviewing our Forex economic calendar HERE, it is a rather slow week as far as reports go but listed below are the reports we believe can create some volatility today.
- Housing Starts s.a (YoY) (CAD)
- The Housing Starts released by the Canadian Mortgage and Housing Corporation captures how many new single-family homes or buildings were constructed.
- Producer Price Index ex Food & Energy (YoY) (USA)
- The Producer Price Index ex Food & energy released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing.
- Building Permits (MoM) (CAD)
- The Building Permits released by the Statistics Canada shows the number of permits for new construction projects. It implies the movement of corporate investments (the Canadian economic development).
- 3-Year Note Auction (USA)
- Displayed in the calendar is the average yield on the notes auctioned by US Department of Treasury. US notes have maturities of 2, 3, 5, 7, and 10 years and pay interest every six months.
- API Weekly Crude Oil Stock (USA)
- API’s Weekly Statistical Bulletin (WSB) has reported total U.S. and regional data relating to refinery operations and the production of the four major petroleum products: motor gasoline, kerosene jet fuel, distillate (by sulfur content), and residual fuel oil.
Review our charts and follow them accordingly.
Play it careful and enjoy.