A.I. Range forecast for 26-Nov-2020 [AUDJPY | EURGBP | EURNZD | EURUSD | GBPUSD | USDJPY]

The range forecasts of selected FXs for next 24h. The time-line is based on UTC as usual.

[AUDJPY] To the QROSS X Trend and Momentum

Range forecast: 76.409 (-0.43%)  -  77.144 (+0.52%) , for next 24 hours.
Confidence: 73.7%.

[EURGBP] To the QROSS X Trend and Momentum

Range forecast: 0.88877 (-0.28%)  -  0.8943 (+0.34%) , for next 24 hours.

Confidence: 69.7%.

[EURNZD] To the QROSS X Trend and Momentum

Range forecast: 1.6953 (-0.29%)  -  1.704 (+0.22%) , for next 24 hours.

Confidence: 74%.

[EURUSD] To the QROSS X Trend and Momentum

Range forecast: 1.187 (-0.28%)  -  1.1951 (+0.4%) , for next 24 hours.

Confidence: 73.2%.

[GBPUSD] To the QROSS X Trend and Momentum

Range forecast: 1.3329 (-0.18%)  -  1.3419 (+0.5%) , for next 24 hours.

Confidence: 74.4%.

[USDJPY] To the QROSS X Trend and Momentum

Range forecast: 104.12 (-0.13%)  -  104.48 (+0.21%) , for next 24 hours.

Confidence: 72.8%.

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A.I. Range forecast for 23-Nov-2020 [AUDJPY | EURGBP | EURUSD | GBPUSD | USDJPY]

The range forecasts of selected FXs for 24h from the next market opening. The time-line is based on UTC.

[AUDJPY] To the QROSS X Trend and Momentum

Range forecast: 75.643 (-0.22%)  -  75.968 (+0.21%) , by the end of Monday.
Confidence: 71.9%.
The chance of Downside swing is a little more likely than Upside.

[EURGBP] To the QROSS X Trend and Momentum

Range forecast: 0.88843 (-0.41%)  -  0.89316 (+0.12%) , by the end of Monday.
Confidence: 65.5%.
The chance of Upside swing is more considerable while Upside margin is limited.

[EURUSD] To the QROSS X Trend and Momentum

Range forecast: 1.1838 (-0.16%)  -  1.1885 (+0.24%) , by the end of Monday.
Confidence: 66.3%.
The chance of Upside swing is more considerable.

[GBPUSD] To the QROSS X Trend and Momentum

Range forecast: 1.3148 (-1.06%)  -  1.3354 (+0.49%) , by the end of Monday.
Confidence: 66%.
The chance of Upside swing is more considerable while Upside margin is limited.

[USDJPY] To the QROSS X Trend and Momentum

Range forecast: 102.96 (-0.83%)  -  104.49 (+0.64%) , by the end of Monday.
Confidence: 68.5%.
The chance of Upside swing is more considerable.

To check Forex trading signals on your Android devices, download Forex Signal by QROSS X.

A.I. Range forecast for 13-Nov-2020 [EURGBP | EURUSD | USDJPY]

The range forecasts for selected FXs until around the Monday afternoon. The time-line is based on UTC.

[EURGBP]

Range forecast: 0.89604 (-0.28%)  -  0.90099 (+0.27%) , until around the Monday afternoon.
Confidence: 63.7%.

The chance of Downside swing is a little more likely than Upside.

[EURUSD]

Range forecast: 1.1803 (-0.17%)  -  1.184 (+0.14%) , until around the Monday afternoon.
Confidence: 63.8%.

The chance of Downside swing is more considerable.

[USDJPY]

Range forecast: 104.55 (-0.15%)  -  104.92 (+0.21%) , until around the Monday afternoon.
Confidence: 69.6%.

The chance of Downside swing is a little more likely than Upside.

A.I. Range forecast for 2-Nov-2020 [AUDJPY | EURGBP | EURUSD | USDJPY]

The range forecast until the end of next Monday for some major FXs. The time-line is based on UTC.

[AUDJPY]  To QROSS X Trend and Momentum

Range forecast: 73.032 (-0.62%)  -  73.664 (+0.24%) by the end of next Monday.
Confidence: 74.1%.
The chance of Downside swing is more considerable.

[EURGBP]  To QROSS X Trend and Momentum

Range forecast: 0.89689 (-0.29%)  -  0.90848 (+1%) by the end of next Monday.
Confidence: 78.1%.
The chance of Upside swing is more considerable.

[EURUSD]  To QROSS X Trend and Momentum

Range forecast: 1.1625 (-0.18%)  -  1.1668 (+0.19%) by the end of next Monday.
Confidence: 68.3%.
The chance of Downside swing is more considerable.

[USDJPY]  To QROSS X Trend and Momentum

Range forecast: 104.26 (-0.34%)  -  104.75 (+0.13%) by the end of next Monday.
Confidence: 67.8%.
The chance of Upside swing is more considerable while the expected margin will be limited.

It is possible that the Trend and Momentum indicate the different direction against the A.I.'s review.

As many are aware, the US presidential election is being held on 3-Nov in US time. Financial markets, including FX, are possibly impacted according to the outcome. It must be kept in mind.

Regarding Brexit, the internal market bill is being scrutinized and voted in the House of Lords on 9-Nov. Since the bill includes some controversial clauses, there is a certain possibility the Peers could block the bill. It is 2 months to go until the transition period is over.

Mr.Johnson won decisive majority, but the market doesn't look optimistic enough?

[EURGBP is approaching the level near Brexit referendum 2016]

The UK election yesterday resulted a big trophy for Tory and Mr.Johnson, and British pound scarcely reacted stronger before the exit polls released. While the FX market responded optimistically as concerns over the hung parliament faded away, it doesn't mean No-deal Brexit is ruled out from the plan.

On the Brexit day which is no later than 31-Jan-2020, UK actually doesn't get Brexit done, but they just start the trade talk with EU. The trade deal is expected to be agreed and ratified by Dec-2020, otherwise the consequence could be No-deal Brexit on Jan-2021 unless the extension is given.

Observing EURGBP market, GBP moved stronger yesterday but it is still weaker than the level before Brexit referendum 2016. It also implies that the market cannot be as optimistic as it was before the referendum. Perhaps, No-deal possibility is still priced in.

Ref. BBC News: Brexit: What happens now?

UK election and GBP on 12-Dec-2019

UK election is ahead on 12-Dec-2019, which held first time on December since 1923.
According to the latest polls, it predicts Tory's majority while it's not comfortable enough to avoid a hung parliament.

Evening Standard: UK opinion polls: Conservatives set for majority of 28... but hung parliament possible as support drops
YouGov has interviewed approximately 100,000 people about their voting intentions in the past seven days.
It said the margin of error could put the final number of Tory seats anywhere between 311 and 367, suggesting a hung Parliament cannot be ruled out.
Sterling fell by around a third of a cent against the US dollar after the news. Financial markets fear a hung parliament would extend the uncertainty over if or when Britain will leave the European Union, which it is currently due to do on January 31,

As mentioned on the above story, outcome of the hung parliament will drag GBP down sharply as the uncertainty over Brexit consequence.
EURGBP is currently near the level after the Brexit referendum 2016.
If British constituencies successfully avoid the hung parliament, the Tory's Brexit deal is expected to be passed before 31-Jan. (some days of technical extension maybe in the worst case.) In this case, GBP will be stronger, approaching toward the level before the Brexit referendum (EURGBP below 0.80).
If it resulted as a hung parliament, EURGBP could jump to around 0.90 - 0.92 up to the highest in 2019.

In the meantime, today's trend and momentum of EURGBP indicates the upward direction in a coming week including the UK election date, which implies the possible hung parliament outcome...
While we recommend to watch out the latest polls, it is also interesting to see if the indicator still reasonably work under the critical event against the market. Let's see tomorrow.


To check Forex trading signals, download Forex Signal by QROSS X.

[Short term] EUR being adjusted into downward further?

Since the tension escalated between US and North Korea, President Donald Trump warning "fire and fury", the financial market has been shaken and it driven investors into risk off.

Swiss Franc and Japanese Yen lifted in large scale, where EURJPY is around 128.56 which is near the lowest level in a month.

While EURJPY was down to a month low, EUR had hiked for some months against other major currencies.
Our Trend and Momentum indicates there are still rooms where EUR is adjusted into downward for such EURCAD, EURGBP and EURNZD.

You can check more Trend and Momentum indicators on our free mobile app available on Google Play.

EURGBP could swing if Greek deal is accepted 29-May-2015

EURGBP stays around the lowest level for last 2 weeks. While Greek officials are optimistic about their deal approved, other European countries require reforms in Greek economy, including pension scheme and privaterization in public sectors.

From the point of technical analysis, the trend and momentum indicates EURGBP is expected higher for a coming week. European countries and Greece aim to agree the deal by the end of May, andaagreement will mitigate EUR risk, EUR going up.

EURGBP trend & momentum 4-Feb-2015

The trend and momentum has indicated EURGBP downward trend since early today, and it has fallen from 0.756 to 0.749 at the moment.

Following to the previous post, GBP downside risk is uncertain while British interest rate will be reviewed tomorrow. If the rate is unexpectedly cut, GBP could be down steeply and EURGBP will go up under the situation.

EUR is also risky currency due to Greek negotiation with other European lenders.

Under those circumstances, EURGBP is probably volatile short while. 

For more currency pairs, Forex trend & momentum signals available on Google play.

EURGBP trend & momentum 20-Jan-2015

EUR has been declined against most major currencies for last a few weeks, due to the planned ECB decision.

The market consensus seems to imply ECB going forward to massive QE for multi billion Euros but the timing could be delayed. Even if ECB decision is taken as planned, downside of EUR could be limited.However, Greek election is being held soon, uncertainty at EUR still remains. If Greek repayment schedule would be mitigated, credit on EUR can be degraded as seen the debt partially defaulted.

EURGBP is one of the pairs under those risk, and the signal of trend and momentum indicates upward trend in a coming week.

EURGBP Trend & Momentum 8-Oct-2014

EURGBP has risen since beginning of this October, and it had been slightly in downward trend for a week around the end of last September.

EURGBP stays around 0.7878 now, and the trend and momentum indicates EURGBP is going to be in steeply downward trend for a coming week. The market consensus about ECB implies EUR is relatively weak particularly to USD. Effect on EURGBP may be limited comparing with EURUSD, however, the upside of EUR is likely limited in short to middle term.


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