Forex Chart Review and Forecast
We had a small data loss yesterday in our backup and restore, our forecast report for April 11th never got restored; we will not try to restore it at this point because it would invalidate this post in that case. We still have the images from our forecast and we have included them in today’s report.
Let’s review our Forex charts HERE, on, April 11th, 2018, in our Forex Signal and Forecast report, we stated that we were looking at DXY reaching down to 89.43 and EURUSD to reach up to test 1.2400. While DXY did reach the 89.43 level, EURUSD came short of reaching all the way up to 1.2400 but got close enough; we continue looking at DXY being bullish today and pushing up towards 90.35 level again and EURUSD dropping down towards 1.22878, basically going back to where it was at the beginning of this week.
We expect DXY to break above 90.35 possibly by the end of this week or early next week, this means that we believe EURUSD will drop below 1.22471 as well.
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.
- ECB Cœuré Speech (EUR)
- Benoît Cœuré is a member of the ECB’s Executive Board.
- New Housing Price Index (MoM) (CAD)
- The New Housing Price Index (NHPI) released by the Statistics Canada is a monthly series that measures changes over time in the contractors’ selling prices of new residential houses, where detailed specifications pertaining to each house remain the same between two consecutive periods.
- Continuing Jobless Claims (USA)
- The Counting Jobless Claims released by the US Department of Labor measure the number of individuals who are unemployed and are currently receiving unemployment benefits.
- Initial Jobless Claims (USA)
- The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.
- FOMC Member Kashkari Speech (USA)
- Neel Kashkari took office January 1, 2016, as the 13th president and chief executive officer of the Ninth District Federal Reserve Bank, at Minneapolis.
Review our charts and follow them accordingly.
Play it careful and enjoy.