Weekly forex forecast: Risk off set ups still dominate [Video]
Markets covered in this week’s weekly forex forecast
USD (DXY), EURUSD, AUDUSD, NZDUSD, GBPUSD, Crude Oil (WTI), USDCAD, CADCHF, CADJPY, AUDJPY, NZDJPY, AUDCHF, NZDCHF, SPX (S&P 500), Nasdaq, Dow Jones, Nifty, XAUUSD (Gold Analysis), XAGUSD (Silver Analysis), BTCUSD ( Bitcoin Analysis).
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Weekly notes
After Jackson Hole last week the outlook for currency markets remain more or less the same with Risk off set ups dominating the Forex landscape.
Whilst the Dxy sold off near term on a Powell “Dovish Taper Talk” the near term uptrend remains intact with price finishing last week right at key support.
Whilst last week saw some volatile corrections in the markets, inside weeks almost across the board and the weakness across commodity currencies points to further downside ahead for Commodity Currencies vs Risk Off assets in the near future.
The Canadian Dollar looks particularly vulnerable to a sell off this week with the Swiss Franc on the other hand showing strength. CadChf looks set for further declines and, bar any unexpected announcements, looks to be one of the better plays this week.
The Australian Dollar also remains weak and further declines this week look probable, pointing towards further downside against the CHF, JPY and USD.
Finally, despite a stronger US Dollar recently, Bitcoin has continued to rally and after a recent correction looks set for further advances.
Read more: https://mcc.exchange/2021/08/29/weekly-forex-forecast-risk-off-set-ups-still-dominate-video/
Text source: MCC.EXCHANGE
