Central Bank Decisions for the month of January 2018.
Most important ones are the Euro-zone on january 25th, the United States on january 31.
Next week there is the decision of a probably rate hike from the central bank of Canada on January 17th.
For canadian rate hike, see also: All of a sudden a rate hike next week is looking a lot more possible – financialpost.com>
From the ‘Financial Times’ (www.ft.com):
Listen – 2018 call? Dollar’s gonna fall
2017 was a year of transition, says Nick Gartside of JP Morgan Asset Management, as growth became more global and central banks adjusted monetary policy towards normalisation. That sets up 2018 as a year for accelerated growth and rising inflation, he tells Roger Blitz, and that means the euro is going to grow further at the dollar’s expense as the ECB steps up tapering
Presented by Roger Blitz and produced by Fiona Symon
The EURUSD is in a congestion that started at the end of September 2017 after a long one year bullish move. It floats between the 1.19574 and the 1.16526-level. Crossing those levels and confirming them will be a good sign to start trading the currency pair again for the long run.
For me, it does feel that the EURUSD is bearish. Let’s wait and see how strong the support is!
The GBPAUD is stuck in the range that started in October 2016 between 1.76000 and 1.59500-level. There is a still strong tendency to stay bullish, but I will strongly depend on the fundamentals like negotiations about Brexit that will determine which direction prices will go. For the moment is stay bullish for the long term as long it stays above the 1.76000-level.
The EURAUD is still in a bullish move with a break of the 1.50900-level back at the end of October and there is no immediate sign that the bullish move is over. Price is now at the high of the month May 2016 where it was in a sideways move that floated between 1.60100 and 1.44500. Therefore it is my belief that price will need to confirm the 1.50900-level and then retest the 1.5600-level. Breaking below the 1.50900-level is very bearish for the EURAUD. Continuing the bullish move will bring the price up to the 1.60100-level.
The AUDUSD is confirming a downside move by making lower lows and lower highs. However it is now flirting with the 0.75250-level and is losing the momentum. Breaking that level to the downside will support a continuation of the bearish move. Expecting that price will go up to reach the 0.77300-level. Breaking that level to the upside will be bullish.