AutoRebateForex Official Thread - Automated 80% Forex Rebates

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Market Analysis and Forecasts


March 13, 2024



GBP/USD:

1. The British Pound weakened against the Dollar on the back of a soft employment report from the UK.
2. The weaker jobs data suggests the Bank of England might have to cut rates sooner than anticipated.
3. Technically, GBP/USD is facing selling pressure and might reach the 200-day EMA at 1.2685 in the near future.

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Market Analysis and Forecasts


March 14, 2024



XAU/USD (Gold):

• Bearish outlook in the short term, with potential for a decline towards $2,073.
• Sell signal below $2,170.
• Price could recover if it consolidates above $2,180.

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Market Analysis and Forecasts


March 15, 2024



GBP/USD:

• GBP/USD is trading around 1.2800 and is expected to remain range-bound until the Bank of England meeting on March 21st.
• The future direction of the pair depends on the FOMC's forecasts and UK inflation data.
• Key technical support and resistance levels to watch: 1.2750, 1.2850.

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Weekly Economic Calendar


March 18-22, 2024



Economic Focus This Week

Key Economic Data:

• Tuesday: US ISM Services PMI
• Wednesday: Australian GDP data, US ADP Non-Farm Employment, US JOLTs Job Openings
• Thursday: New Zealand GDP data, Australian employment data, Flash PMI data (various regions), US weekly jobless claims, Philly Fed Manufacturing Index
• Friday: US Non-Farm Payroll data, UK Retail Sales data, Canadian Retail Sales data

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Market Analysis and Forecasts


March 19, 2024



EUR/USD:

1. Outlook: Bearish
2. Key Levels: 1.0530, 1.0581, 1.0658-1.0669, 1.0757, 1.0823, 1.0889, 1.0935, 1.1006, 1.1092
3. Technical Analysis: Downtrend likely, potential for further decline
4. Reasoning: Dollar strengthening, weak Eurozone data, descending trend lines on charts

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Market Analysis and Forecasts


March 21, 2024



GBP/USD:

• Downward pressure, but potential reversal on dovish Powell comments.
• Key factors: FOMC decision, Powell's press conference.
• Long opportunities: Above 1.2705 with a target of 1.2763 if Powell is dovish.
• Short opportunities: Below 1.2678 with a target of 1.2635 if Powell is hawkish.

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Weekly Economic Calendar


March 25-29, 2024



Economic Focus This Week

Other Data Points to Watch

• US durable goods orders (expected to improve slightly in February)
• US consumer confidence (predicted to dip modestly)
• US GDP growth (likely unchanged from the previous estimate)
• Australian CPI (forecast for a minor rise)

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Market Analysis and Forecasts


March 26, 2024



GBP/USD:

1. The Bank of England is preparing for a potential rate cut, weakening the Pound's advantage.
2. Short-term trading opportunities exist based on technical indicators and potential US data releases.
3. The Pound might test the lower boundary of its range (1.2500/20).
4. Key Levels:
5. Support: 1.2597, 1.2520 (range)
6. Resistance: 1.2645, 1.2670 (range), 1.2892 (previous high)

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Weekly Economic Calendar


April 1-5, 2024



Economic Focus This Week

Mid-Week Heats Up:

• Australian RBA meeting minutes kick things off.
• Key releases include German preliminary CPI, US JOLTS job openings, and comments from FOMC members (Williams, Mester, Daly).
• ADP employment data and ISM Services PMI could cause market swings.
• Fed Chair Powell speaks at Stanford, potentially impacting markets based on his comments about upcoming jobs data.

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Market Analysis and Forecasts


April 3, 2024



USD/JPY:

• Short-term outlook: Uncertain
• Analysis: The USD/JPY is likely to resume its upward movement if FOMC members deliver hawkish comments today. However, significant impact from economic data is not expected.
• Trading Signal: Consider buying USD/JPY if it hits 151.75 and targeting 152.02. Conversely, sell if it reaches 151.55 with a target of 151.29.

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Market Analysis and Forecasts


April 4, 2024



Gold:

• Gold: Potential breakout above $2288.
• Target: $2328.
• Correction below support: $2244.
• Consider buying there for a potential rise to today's high.
• Buy gold at support levels ($2244 or $2222) with target at $2286.

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Market Analysis and Forecasts


April 5, 2024



Gold:

• Short-term Trend: Bullish
• Analysis: Gold broke above resistance and is aiming for the next target zone at $2328. A pullback towards support could present buying opportunities. A break below $2232 could indicate a trend reversal.
• Forecast:
  • Buy: Look for buying opportunities at support zones $2260 or $2238 if a bullish pattern emerges, targeting $2303.

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Weekly Economic Calendar


April 8-12, 2024



Economic Focus This Week

Inflation Data:

• Wednesday: All eyes are on the US Consumer Price Index (CPI) inflation report. Higher inflation could lead to fewer Fed rate cuts this year.
• Thursday: China's inflation data (CPI and PPI) will be released.

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Market Analysis and Forecasts


April 9, 2024



Bitcoin:

• Recent price surge above $72,000 attributed to increased buying from long-term investors and anticipation of the upcoming halving.
• Target of $300,000 for BTC in this bull cycle, with a possibility of reaching a new all-time high before the halving.
• Altcoin season expected to begin in a few weeks, with a focus on tokenization, Ethereum (ETH), and DeFi.

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Market Analysis and Forecasts


April 11, 2024



CAD:

1. Trend: Expected to remain unchanged
2. Resistance: 1.3572, then 1.3666
3. Support: 1.3497 and 1.3403
4. The Bank of Canada (BoC) is expected to hold the cash rate at 5.0% today, impacting the USD/CAD rate.
5. A potential rate cut by the BoC in the next few months could weaken the USD/CAD.

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Market Analysis and Forecasts


April 12, 2024



JPY:

• Japanese Yen (JPY) Forecast: Bearish
• Rising US Treasury yields are putting pressure on JPY.
• Intervention by Japanese authorities is seen as unlikely to be effective.
• USD/JPY technical analysis suggests a continuation of the uptrend.
• Resistance levels: 153.50, 154.25

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Weekly Economic Calendar


April 15-19, 2024



Economic Focus This Week
Central Bank Speeches:

• Fed Chair Jerome Powell
• Bank of England Governor Andrew Bailey
• Bank of Canada Governor Tiff Macklem
• FOMC members Michelle Bowman, Loretta Mester, and Raphael Bostic
• MPC members Catherine Mann, Jonathan Ramsden, and Ben Broadbent

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Market Analysis and Forecasts


April 16, 2024



NZD/USD:

• New Zealand dollar slides to five-month low.
• Weak services sector data.
• Technical resistance at 0.5960, support at 0.5884.
• Forecast: Potential downside towards support zone.

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Market Analysis and Forecasts


April 18, 2024



EUR/USD:

• Forecast: Bearish
• Key Points:
  • Downward trend expected to continue.
  • Sell signal near 1.0880 confirmed.
  • Target around 1.0463.

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Market Analysis and Forecasts


April 19, 2024



USD/JPY:

1. Forecast: Bullish
2. Analysis: The USD/JPY is expected to continue its rise if US data is strong. Intervention by the Bank of Japan is a possibility if the yen weakens further.
3. Trading Tips: Buy near 154.60, with targets near 155.19.

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