Forex Chart Review and Forecast
Let’s review our Forex charts HERE, on, April 12th, 2018, in our Forex Signal and Forecast report, we talked about DXY reaching up towards 90.35, however, it reached up towards 90, only to fall down to a bullish order block overnight. The bullish order block level sits at 89.55 (with a variance of up to -30 pips); we are keeping our eyes on DXY this morning because there was nothing that pushed down DXY as far as reports go overnight, this makes us believe it is being positioned for a move up later today.
EURUSD is also sitting at a bearish order block which exists at 1.2362, we are looking for bearish signals this morning based on its position and DXY position.
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.
- Retail Sales ex Autos (MoM) (USA)
- The Retail Sales ex Autos released by the US Census Bureau is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes except the automobile sector.
- NAHB Housing Market Index (USA)
- NAHB Housing Market Index is released by the National Association of Home Builders. It presents home sales and expected home buildings in the future indicating housing market trend in the United States.
- 6-Month Bill Auction (USA)
- Displayed in the calendar is the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less.
- FOMC Member Kaplan Speech (USA)
- Robert Steven Kaplan has served as the thirteenth president and CEO of the Federal Reserve Bank of Dallas since September 8, 2015. He represents the Eleventh Federal Reserve District on the Federal Open Market Committee in the formulation of U.S. monetary policy and oversees the 1,200 employees of the Dallas Fed.
- FOMC Member Bostic speech (USA)
- Raphael W. Bostic is an American economist and academic, who became the 15th President and CEO of the Federal Reserve Bank of Atlanta on June 5, 2017. In 2018, he serves as a voting member of the Federal Open Market Committee.
Review our charts and follow them accordingly.
Play it careful and enjoy.