AutoRebateForex Official Thread - Automated 80% Forex Rebates

Market Analysis and Forecasts


March 26, 2024



EUR/USD:

 

1. The Euro faces headwinds due to the lack of specific action from the ECB and recent inflation data in the US.
2. Short-term trading opportunities exist based on technical indicators and potential US data releases.
3. Overall, the outlook for the Euro is uncertain.
4. Key Levels:
5. Support: 1.0778, 1.0735, 1.0803 (important)
6. Resistance: 1.0838, 1.0867, 1.0903, 1.0934

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Weekly Economic Calendar


April 1-5, 2024



Economic Focus This Week

Early Week (Quiet Start):

1. Asian markets may see a positive opening due to strong Chinese PMI data.
2. US data includes ISM Manufacturing PMI and the Bank of Canada's Business Outlook Survey.

Late Week Spotlight:

1. Quiet start with focus on Swiss CPI after their recent rate cut.
2. Focus shifts to UK construction PMI data during the London open.
3. Non-Farm Payroll Friday is the main event, with additional attention paid to Average Hourly Earnings and Unemployment Rate. Canadian employment data and Ivey PMI follow.

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Market Analysis and Forecasts


April 3, 2024



EUR/USD:

1. Short-term outlook: Bearish
2. Analysis: The EUR/USD is expected to continue its downtrend. Potential decline towards 1.0462. There is a possibility of a technical rebound in the short-term, but the overall trend remains bearish.
3. Trading Signal: Consider buying above 1.0742 for a potential rebound towards 1.0864.

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Market Analysis and Forecasts


April 4, 2024



Oil:

 

1. Oil: Likely breakout above $84.98.
2. Target: $88.61.
3. Correction below support: $81.78.
4. Consider buying there for a potential rise to today's high.
5. Buy oil at support levels ($81.78 or $80.13) with target at $85.

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Market Analysis and Forecasts


April 5, 2024



Oil:

1. Short-term Trend: Neutral to bearish
2. Analysis: Oil failed to hold above key resistance and is currently testing support. A bearish pattern could lead to further decline towards $82.04. However, a break above yesterday's high opens the possibility of a rise to $88.61.
3. Forecast:
   1. Buy: Consider buying at support levels $82.37 or $80.72 if a bullish pattern forms, targeting $85.56.
   2. Sell: Short selling might be possible if prices break below $80.23, targeting further decline.

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Weekly Economic Calendar


April 8-12, 2024



Economic Focus This Week

Central Bank Decisions:

1. Thursday: The European Central Bank (ECB) is expected to hold interest rates steady, but dovish comments could cause euro volatility. A rate cut might be coming in June.
2. Wednesday: The Reserve Bank of New Zealand (RBNZ) and Bank of Canada (BoC) will announce their interest rate decisions.
3. Focus on the Fed: While no decision is expected, Wednesday's release of the Federal Open Market Committee (FOMC) meeting minutes will be scrutinized for clues about future rate cuts.

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Market Analysis and Forecasts


April 9, 2024



USD:

1. Strong position due to positive US economic data (job growth, manufacturing) and doubts about the Fed cutting rates soon.
2. Upward trend against EUR and JPY, minor impact on other currencies.
3. Resistance: Bulls are confident, but a rise in gold prices might indicate a flight to safety and weigh on the USD.

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Market Analysis and Forecasts


April 11, 2024



NZD:

1. Trend: Upward
2. Resistance: 0.6060
3. Support: 0.6000 and 0.5953
4. The RBNZ holding rates and economic weakness in New Zealand might influence a downward move for NZD/USD in the future.

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Market Analysis and Forecasts


April 12, 2024



AUD:

 

1. Australian Dollar (AUD) Forecast: Neutral
2. AUD/USD has stabilized after a sharp decline.
3. Australian inflation expectations are rising.
4. China's deflation is a concern for the Australian economy.
5. Resistance levels: 0.6548, 0.6596
6. Support levels: 0.6464, 0.6416

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Weekly Economic Calendar


April 15-19, 2024



Economic Focus This Week
Focus on Data:

1. US: Retail sales, manufacturing data
2. UK: Wage/employment numbers, CPI inflation, retail sales data
3. Canada: CPI inflation
4. China: Industrial production
5. Australia: Employment figures

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Market Analysis and Forecasts


April 16, 2024



GBP/USD:

1. British pound steady.
2. UK employment data release on Tuesday.
3. Technical resistance at 1.2535, support at 1.2396.
4. Forecast: Possible upside if breaks above 1.2450, otherwise potential correction.

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Market Analysis and Forecasts


April 18, 2024



GBP/USD:

1. Forecast: Bearish
2. Key Points:
   1. Potential for significant decline if wave 3 or c builds.
   2. Target below 1.2039.
   3. Break above 1.2472 indicates market readiness for a downward wave.

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Market Analysis and Forecasts


April 19, 2024



EUR/USD:

 

1. Forecast: Bearish
2. Analysis: The analyst expects the EUR/USD to continue its decline due to a stronger US dollar. There is potential for the pair to fall below the 1.0450 mark.
3. Trading Tips: Sell near 1.0880, with targets near 1.0463.

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Weekly Economic Calendar


April 22-26, 2024



Economic Focus This Week
Overall Market Sentiment:

1. Expect continued volatility as traders navigate geopolitical concerns and central bank policy changes.
2. US earnings season heats up with reports from tech giants like Tesla and Microsoft.

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Market Analysis and Forecasts


April 23, 2024



EUR/USD:

1. Technical analysis suggests a continuation of the downtrend with potential for a correction before further decline. Resistance levels at 1.0696 and 1.0724, support levels at 1.0530 and 1.0581.
2. Fundamentals favor a stronger USD due to expectations of a Fed rate cut later in the year, while the ECB is not expected to cut rates soon.

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Market Analysis and Forecasts


April 25, 2024



GBP/USD:

 

1. Pound retains hope, but data could push it lower.
2. Resistance at 1.2478, support at 1.2340.
3. Forecast: Neutral to slightly bearish. GBP/USD could trade sideways or potentially fall slightly if US durable goods orders data is strong.

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