Weekly forex forecast: Major breakouts in AUD, NZD [Video]

Forex pairs & markets covered in this week’s Weekly Forex Forecast & Forex Analysis:

USD (DXY), EUR, GBP, CHF, JPY, CAD, AUD & NZD.

EurUsd, UsdJpy, NzdUsd, AudUsd, Crude Oil (WTI), EurCad, CadJpy, AudJpy, AudChf, NzdChf, EurAud, EurNzd, SPX (S&P 500), Russell 2000, Nasdaq, Dow Jones, Nifty, XauUsd (Gold Analysis), XagUsd (Silver Analysis), Btc/Usd ( Bitcoin Analysis) & more!

Weekly notes

Last week saw a confirmed near term double to in the US Dollar Index which was met with major breakouts in both AUD & NZD which points to near term reflationary environment for markets. Breakouts in XauUsd & XagUsd also point to continued further downside as most likely in the US Dollar Index.

With FOMC next week the USD is at risk of going nowhere fast this week and stands a good chance of drifting sideways into the next FOMC meeting. As always FOMC meeting can change trends in the US Dollar Index so patience is likely to be the best play heading into next week. Whilst oppertunities will still present themselves, a reduction in risk taken pre-FOMC seems a smart way to aproach Forex markets over the next next week and a half.

The NZD stands out as the best long this week with both the EUR & DXY suffering and looking like the best short plays. However, its worth repeating that both the EUR & DXY will likely be affected by next weeks FOMC, so again caution is still advised.

JPY shorts have been highlighted in previous videos and proved fantastic plays to get in front of. Last weeks video warned of near term profit taking, which we saw, in JPY pairs and those corrections look likely set to continue this week again as the JPY remains extremely weak still.

With the Bank of Canada meeting this Wednesday, CAD pairs are likely to be subdued into this event, before coming into play once again from Wednesday afternoon onwards.