05.12.2022 15:39

Target levels and forecast for the week 05.12. 09.12.

Dear Clients and Partners!

Target levels and forecast for the week 05.12.  09.12. Recall the fundamental events that you need to pay attention to (GMT 0 time):Tue, 06AUD: Current Account (00:30); RBA Interest Rate Decision (03:30)GBP: Construction PMI (09:30)USD: Trade Balance (13:30)Wed, 07AUD: GDP (00:30)CNY: Exports, Imports, Trade Balance (03:00)EUR: GDP (10:00)USD: Crude Oil Inventories (+Cushing) (15:30)JPY: GDP (23:50)Thu, 08AUD: Trade Balance (00:30)Fri, 09USD: PPI (13:30)CNY: CPI, PPI, Core PPI (01:30)For more news  see Economic Calendar.EUR/USDThe technical picture does not correspond to the fundamental situation  the real priority of buyers is weak. The most likely flat is in the range of 1.08 - 1.02. A strong reaction to Lagarde's performance on Thursday is unlikely.GBP/USDThe downward correction confidently turned up the trend, and the imbalance towards purchases is increasing. There are no strong fundamental factors. A negative reaction to strikes is possible only at the end of the week.USD/JPYThe balance of volumes is confidently shifted to the zone of purchases, its own fundamental background contributes to a further decline. For a technical correction, a confident breakdown of the 138.50-140 zone is required.XTI/USDOPEC+ has kept oil production at the current level but intends to carefully monitor the market reaction to new sanctions against Russian oil. The gap at the opening of the week was weaker than expected by analysts. The balance of volumes has shifted to the buying zone, but there are no fundamental factors for active growth yet.Profits to yall!#EURUSD #GBPUSD #USDJPY #XTIUSD #Profits #ForexChief #forexsignals #MarketFocus #forexnews #NonfarmPayrolls #StopLoss #EconomicCalendar #worldnews #forexmarket

Sincerely yours,
ForexChief Team