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Buckle up for an exciting start to the third quarter of 2024 with Nikkhil’s new weekly Forex Forecast.
This trading week is your gateway to a period filled with potential upheaval and profit opportunities.
Last week, the U.S. PCE report subtly hinted at economic shifts, coming in lower than previous.
Yet, the Federal Reserve’s firm hawkish stance continues to strengthen the U.S. dollar, setting the stage for market resilience.
On the horizon, the French and UK elections coupled with the important U.S. non-farm payroll announcements are ready to bring significant volatility into the markets.
Dive into Nikkhil’s strategic chart analysis and discover the lucrative trades waiting to be captured in this challenging week ahead:
DXY (US Dollar Index)
Kick off your trading strategy with the US Dollar Index's rapid climb! Showing an unstoppable bullish path, it consistently creates higher lows and higher highs. Nikkhil’s Fibonacci retracement analysis reveals strong resilience at key support levels, signaling that this bullish surge may be far from over. Just stay alert as a major resistance is coming up, threatening to trigger a strategic pullback in the form of a short-term dip.
AUD/USD
The AUD/USD pair is on the brink of a major breakout and ready for a big jump, supported by the Reserve Bank of Australia’s aggressive stance and upcoming interest rate hikes, this could be the trigger you've been waiting for. As the US dollar is close to weakening, Nikkhil’s precise Fibonacci extensions highlight key targets ready for massive trading gains.
EUR/CHF
The EUR/CHF pair is flashing signs of a bullish uprising on the weekly chart, catching the eye with its compelling divergence. Yet, brace yourself for choppy times that lie ahead with upcoming European political events that’s set to stir up market volatility.Grab the chance for quick gains by learning how to buy on dips.
NZD/CAD
NZD/CAD is showing a bullish surge on the weekly chart, with recent higher lows highlighting its strong performance.Technically ready, this currency pair is about to find solid support at lower Fibonacci extension levels. This is once again a prime opportunity to capitalise on dips.
NASDAQ
The NASDAQ is locked in a bullish grip, climbing steadily with no hint of slowing down on the weekly chart, suggesting it will keep rising. It's crucial to not overlook the action on shorter time frames. Temporary dips are not setbacks but golden opportunities to jump in.
XAU/USD (Gold)
Gold is pushing the limits at the top of a rising channel, hinting at possible corrections soon. Even with these fluctuations, the long-term forecast for gold stays strongly bullish, with high targets coming up thanks to detailed technical analysis.
As we step into this new trading quarter, use Nikkhil’s expert knowledge to move forward with informed and profitable trading decisions.
Click Here To Watch The Full Week Forex Forecast
Stay focused, stay driven, and above all, trust in the strategies that have been laid out for you.