Weekly Forex Forecast – NASDAQ 100 Index, Bitcoin, GBP/USD



It’s the difference between success and failure in Forex / CFD trading is highly dependent on which stocks you choose to trade each week and which waynot in the direct ways you use to determine entries and exits.

Therefore, when starting the week, it is good to look at the big picture of what is developing in the market as a whole, and how it develops and is influenced by macro factors, technical factors, and market sentiments. There are several long-lasting styles in the market now, which can be used effectively. Read on to find my video testimonial below.

I wrote in my first part on 2n.d April best trading times for the week are:

  • Bitcoin is long against the USD after a daily close above $30,000. This is not organized.
  • The GBP/USD currency pair is long after closing the day above $1.2437. This set up on Tuesday but finished the week lower with a loss of 0.71%.
  • Duration of the NASDAQ 100 Index. This made a small loss of 0.89%.

News about the world’s financial markets is dominated by speculation about the future of the US economy and interest rates based on the latest important data releases. . Some analysts see the prospect of a recession deepening after last week’s better-than-expected U.S. jobs data, despite higher payrolls numbers. Friday was less than expected. Bond markets are showing a 66% chance of a big increase by the Federal Reserve at its next meeting in May, but it is widely expected to be the last high in the current tight environment.

Another thing that is known is the current OPEC cuts, which raised the price of Crude Oil last week.

Last week was light in terms of data releases, and most markets traded at low levels, ending the week on the day before the Easter holiday. celebrated in financial centers. However, next week will bring more data, so we may see a lot of volatility when trading starts.

Last week’s key data releases:

  1. US Non-Farm Payrolls, Average Hourly Loads, and Unemployment Rate – this is stronger than expected.with the unemployment rate falling to 3.5%.
  2. Australian Income Tax and Income Statement – RBA misses target rate hike of 0.25%and the Australian Dollar continued its decline.
  3. New Zealand Official Cash Rate and Rate Statement – the RBNZ rose by 0.50% rather than the widely expected 0.25%.putting New Zealand interest rates at the highest of all major currencies.
  4. Swiss CPI data – this came in below expectationsshowing a month-on-month increase of just 0.2% compared to the 0.4% expected.
  5. The US JOLTS Job Openings data – this is much lower than expected which some analysts see as a sign that the US economy is starting to slow down a lot.
  6. US unemployment claims data
  7. US ISM manufacturing PMI data
  8. US ISM Services PMI data
  9. Canadian unemployment statistics

The next week in the markets may see a high, high level of volatility compared to the previous week, due to the high strength of key data release organized. This week’s key data releases, in order of importance:

  1. US CPI (inflation) data.
  2. US FOMC Meeting Minutes
  3. US PPI data
  4. The Bank of Canada’s financial statements, financial statements, and monetary policy
  5. UK GDP data
  6. American Trade Data
  7. US unemployment claims data
  8. First impression of the UoM customer
  9. Data Australia does not work

Monday is a public holiday in New Zealand, Australia, UK, Switzerland, Germany, France, and Italy.

The weekly price chart shows it below The US Dollar Index fell again last week, but also declined key support level at 101.07 with a significant lower wick.

This suggests that we may see another drop in the coming week, fueled by a long-term bearish trend. The Dollar is trading below its levels of 3 and 6 months ago.

The price of the dollar will be heavily influenced by the release of US inflation data. on Wednesday, regardless of technical considerations.

US Financial Statements

We have seen a slight decrease the NASDAQ 100 Index the week after closing last week at a new 7-month high. However, in the context of broader price action, the technical picture here is stable.

There are no significant resistance levels until 13735, so the price has room to go higher in the coming week.

The NASDAQ 100 Index is seen in a sale, but the bulls should be told that some big business players are talking about the new technology group, much may depend on whether the data this Wednesday will continue to show the US inflation data fell sharply.

NASDAQ 100 Weekly Index

Last week saw the price of Bitcoin hit an indecisive doji candle – but still a light, even if it’s a weak one.

The price is definitely in a bullish trend, reached a new 9-month high two weeks ago. The price could not be higher again in the last week, but it was stable and refused to decline. This, combined with the long-term bullish trend, suggests that it is worth continuing to be interested in Bitcoin.

Technically, the price chart below shows that the price is facing a series of three major resistance levels between the current price and the large round figure at $30k. Traders may want to wait until the daily close is above $30k and then go long., hoping for an explosion. The price should go up to at least $33,400.

On the other hand, the bears are seeing a big win and started a strong fall to the $26,687 low.

Bitcoin Weekly Report

The second currency is GBP/USD rises for the sixth week, while the weekly candle shown in the price chart below shows a significant wick above. It is important to note that this upper wick rejected the ten-month high price and the major round point at $1.2500. This is a major objection.

There is no major reason for the British Pound to be strong, other than the improvement in economic forecasts made by the Bank of England and analysts – you can see some other currencies that enjoyed the rise against the US dollar last week.

I highlight this currency pair because it may have already made a big bullish breakout. If we get a daily close this week above $1.2500, I think we could make a very good long trade entry.because it is a place of great awakening.

GBP/USD weekly chart

The price of gold has finally gone up week to close above the $2000 round, making it the highest weekly closing price in more than two and a half years. While the weekly candlestick in the price chart below shows a significant wick above, The fact that the price is holding above $2000 indicates that it has room to retest its all-time high at $2070, which is not far away.

I think gold is interesting in the long termbut since it is in a bearish retracement in the short term, it is better to practice lower and wait for a bullish bounce when trading starts this week before going long , suitable at $2000 or lower support levels below that.

Golden Old Testament

The price of money has risen sharply week to close below the round rate at $25, making it the highest weekly closing price in nearly a year. Although the weekly candlestick shown in the price chart below shows the small wick above, the truth is that the overall technical picture looks more bearish than the Gold is the reason for concern for cows.

I think Silver is interesting in the long run, but is facing strong resistance at $26.50 and has yet to clear $25. The best way is to try to trade bullish breakouts above $25 in a short period of time using stop-losses, maybe try to do it right.

I see the best trading opportunities this week as:

  • Bitcoin is long against the USD after a daily close above $30,000.
  • The GBP/USD currency pair is long following a daily close above $1.2500.
  • Duration of the NASDAQ 100 Index.
  • Long of Gold after rejection of $2000, $1950, or $1917.
  • The currency is long after the bullish break above $25.

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