Q3_Week_28: Market Outlook

Published ON 12 Jul, 2021

Currencies:

As mentioned in last weeks blog post, we are still bullish on the dollar but we were anticipating a deeper pullback. Over the last few days, we have seen the USD pullback. We are looking for this to continue for the near future. BSAPPSFX Advanced group members are aware of the setup we are watching on the dollar. If you have completed the Advanced course and would like to be added to this group, then message one of the team on telegram at the end of the month!

Because of this, we are seeing pullbacks across the board. We have a few pairs on our watchlist, especially the CAD and JPY pairs.

This week is a busy week for fundamental releases. We could see some big moves across the board off the back of this.

Upcoming fundamental releases we have are:

TUESDAY, JULY 13

  • EUR, Harmonized Index of Consumer Prices (YoY) (Jun)
  • USD, Consumer Price Index ex Food & Energy (MoM) (Jun)
  • USD, Consumer Price Index ex Food & Energy (YoY) (Jun)

WEDNESDAY, JULY 14

  • NZD, RBNZ Rate Statement
  • NZD, RBNZ Interest Rate Decision
  • GBP, Consumer Price Index (YoY) (Jun)
  • CAD, BoC Rate Statement
  • CAD, Bank of Canada Monetary Policy Report
  • CAD, BoC Interest Rate Decision
  • CAD, BoC Press Conference
  • USD, Fed’s Chair Powell testifies

THURSDAY, JULY 15

  • AUD, Employment Change s.a. (Jun)
  • AUD, Unemployment Rate s.a. (Jun)
  • CNY, Gross Domestic Product (YoY) (Q2)
  • CNY, Gross Domestic Product (QoQ) (Q2)
  • CNY, Retail Sales (YoY)(Jun)
  • GBP, Claimant Count Change (Jun)
  • GBP, ILO Unemployment Rate (3M) (May)
  • USD, Fed’s Chair Powell testifies
  • NZD, Consumer Price Index (YoY) (Q2)

FRIDAY, JULY 16

  • JPY, BoJ Monetary Policy Statement
  • JPY, BoJ Interest Rate Decision
  • JPY, BoJ Press Conference
  • USD, Retail Sales Control Group (Jun)
  • USD, Retail Sales (MoM)(Jun)
  • USD, Michigan Consumer Sentiment Index (Jul)

Make sure you pay attention to the @bsappsfxltd Instagram page, as this will provide you with the upcoming fundamental releases at the beginning of the week as well as other valuable information and insights!

RECAP: Potential Set Ups: AUD/JPY

AUDJPY – Daily (Posted 28/06)
AUDJPY – Daily

Our AUDJPY trade hit our take profit perfectly last week, banking over 270 pips! Patience is key in trading, it took a couple of weeks but the setup did eventually play out.

Potential Set Ups: EUR/CAD

EURCAD РDaily 
EURCAD – 4HR

We are watching EURCAD for a long setup. We will be targeting 1.49847.

Written by Aqil – Head Analyst
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