EURUSD Weekly Forex Forecast – 29th Jan to 2nd Feb 2018 

 January 27, 2018

By  Advanced Strategies

EURUSD Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

Technical Outlook: The EURUSD rose to a fresh 4-year high last week as the U.S. dollar weaked and the ECB’s monetary policy did saw the central bank leaving monetary policy unchanged. However, the brief rally was quickly met with price retracement. By Friday’s close, EURUSD was seen consolidating near the 1.2423 level. We expect this consolidation to continue in the term as it could potentially form a bullish flag pattern. An upside breakout could see EURUSD extending further gains. But there is a risk as the rally has seen little retracements in the near term. Therefore, we expect a downside correction towards 1.2284 in case the bullish flag pattern fails. To the upside, price will need to rise above the previous highs posted at 1.2500 to post further gains.

Fundamental Outlook: The markets will be heading into the end of January and data from the Eurozone will focus on the economic performance for the first month of the year. The week ahead will be marked by preliminary CPI data from Germany, France and Spain. This will potentially suggest the state of inflationary pressures for the Eurozone during the month of January. The flash GDP estimates for the fourth quarter of 2017 will also be released this week. However, this poses no risk as the Eurozone GDP is expected close at a record high. Flash estimates are also expected from France and Germany during the week. On Friday, the flash PMI numbers will be confirmed with the final manufacturing and services PMI numbers for January..

Previous EURUSD Weekly Forex Forecast

EURUSD Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today

Advanced Strategies

Your Signature

related posts:

AUD/CHF Daily Price Forecast – 21st May 2024

USD/CHF Daily Price Forecast – 20th May 2024

GBP/USD Daily Price Forecast – 17th May 2024

Leave a Reply:

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get in touch

Advanced Forex Strategies