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Welcome to your essential forex forecast for the week starting September 9th.
This week promises to be exciting, with significant market events set to unfold.
Nikkhil has diligently compiled all the latest and most impactful market nuances, ensuring that you have access to the freshest insights available.
Let's eagerly dive into the abundant opportunities that await you in the markets this week:
US Dollar Index (DXY)
Last week, you saw the DXY bounce back from the 100.5 support after disappointing NFP results. With CPI data and pivotal ECB announcements on the horizon, expect some volatility that could spice up your trading.
EURAUD
You're at a crucial moment with EURAUD, which currently showcases a compelling bullish setup. This pair presents a unique opportunity to capitalise on its strength, as indicated by the current technical patterns suggesting a robust upward trajectory. The charts are aligning in a way that signals a strong 'buy.'
AUDNZD
You’ve noticed AUDNZD’s strength, with the AUD consistently outstripping the NZD. Nikkhil’s analysis suggests a bullish divergence, making it a prime time to consider buying on any dips. Could this pair bring you some exciting trades this week? Absolutely, especially if there’s a twist in economic indicators from either country.
GBPUSD
The strength of the USD hasn’t knocked down the GBPUSD, showing that bullish sentiment is holding strong. However, with the DXY looking to climb, the pair might face some short-term dips.
WTI (Crude Oil)
Crude oil prices are on a downward trend under bearish pressure, with forecasts pointing to a descent towards $61.4. Amidst market uncertainties and fluctuating demand, short positions might look tempting. If you want to leverage these trends effectively…
XAUUSD (Gold)
Gold continues to hold its ground as a safe haven, with support at $2482 offering a key zone for bull and bear showdowns. With the global economic atmosphere influencing investor sentiment, significant price movements in gold are expected.
Remember, each session brings new challenges and opportunities…
With Nikkhil’s analysis, you’re perfectly equipped to meet them head-on.
Here's to a successful trading week ahead!
Click Here To Watch The Full Week Forex Forecast