12 May Weekly Forex Forecast (May 13 – 17 May-2019)
Weekly Forex Forecast
GBPUSD in the 4 hours chart, the pair acted according to the plan. If you read that one, there are still targets further down and you know the reasons behind that trade, still active.
Now, zooming in, in the 1 hour chart, in my opinion there is a bear flag formation, which has been bouncing in the edges around 5 times, so it is likely to break down. I will wait for a short time frame candle to close below the flag and an increase of volume , so there is not an exact short entry point, but would be around 1.29950. I will not execute this short time trade if I do not see a closure below the bear flag .
The target, a bit before of my next identified support level. If you want daily profit then you can join with us and get 95% profitable trade always. For more info about our paid group > inbox us or select our service package Click here Forex Signal, Forex Trading , Forex Best Signal Provide
1) European data released these last few days was generally encouraging, underpinning the common currency. Services output was upwardly revised in April, investors’ confidence improved, and retail sales ticked higher. However, the European Commission downgraded growth forecasts for this year and the next, leaving inflation ones unchanged.
2) US data, on the other hand, was softer-than-anticipated, with PPI and CPI missing the market’s expectations. Nothing to worry about, yet supporting the current ‘patient’ Fed’s stance.
3) The upcoming week will be a bit more interest in terms of data, as Germany will release April inflation next Tuesday, while both, the EU and Germany will release Q1 GDP estimates on Wednesday. A miss in these numbe
GBPCHF Price has reversed from resistance a broken down below the ascending trend line . I will be looking for a retest and lower time frame bearish setup to confirm further moves towards the Fibonacci extension levels.rs will surely bring back EUR sellers. EU inflation will be out Friday, but it would have a lesser impact on prices.
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