What will happen in 2017 and our forecasts in this article. In the forex market the forecasts for EUR/USD is to reach levels of 0.90. The Euro weakness continue in 2017 due too serious budget problems in the Euro Zone also interest rates divergence. The Pound to cut the half of the losses against the dollar in 2017 and became more attractive currency. Crude Oil slowly will recover to $65 for a barrel (New York) as the trading range is $42 - $65. The war in Syria will end in 2017 but in Iraq the war will continue together with new escalating of the conflict in Libya. A bad year for Europe we expecting where there are two scenarios in 2017-2018. The most negative expectations are the start of civil war in Western Europe. The other way is Western Europe to start cooperating with the Russian Federation and end of the sanctions. After Brexit other countries will try to leave European Union as higher chance to see for France and Italy.
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Crude Oil price recovery may end in the next couple of days. World-Signals.com expects to see technical correction down below $48.00. The Crude Oil price jumped from $45 in New York to $51 after OPEC members agreed to cut by 1.2 million barrels per day. But there is strong resistance at levels above $52. World-Signals.com trading strategy is to sell Crude oil at the levels at $51.00-$51.35 with target $48.00.
The United States president elections are the main moving factor for this month. The election of Donald Trump and the first talks about his program is the key signal for the investors. In the first three hours the traders sell dollars while later the dollar recovery the losses and even gain about 150 pips. In the coming week World-Signals.com expect to see exit of the short positions as the dollar may lose the recent gains but not so much. The key support level for EURUSD is at 1.0830 as the breaks below the level we can see 1.0740. The first resistance is at 1.0935 followed by 1.1000. World-Signals.com trading strategy is long positions in the first half of the week when we can see 1.0935 or 1.1000 as then is possible reverse down to the levels of 1.08.
The US Dollar will remain strong above the Euro this and probably next week too. The main occasion this week will be The interest rates decision. Investors all around the globe are waiting for interest rates rises or signals for some movements very soon. World-Signals.com strategy for this week will be to remain trading below 1.10. It is very possible The US Dollar to trade on levels below 1.08 1.0740 for a while. World-Signals.com advices trading from 1.0900-1.0925 for short positions with targets below 1.0800.
After seven days of consolidation for euro/dollar in Friday the data in US tilt the scales in Dollar's favor. Consolidation was at levels about 1.1250, as the inflation rate for August were above average expectations. World-Signals.com predict that the inflation rate will be the main reason for Fed's rates to rise next year. The main focus this week will be for FOMC Rate Decision, where we don't expect changes in Fed's rate policy. World-Signals.com strategy this week will be to bet on the US Dollar and expect levels about 1.1070. The key support levels this week will be at 1.1070 and resistance at 1.1225.
The pressure for the US dollar will continue this week, although it will be weak and not so frequent. US Dollar will loose some of his price over the Euro's strong support. The main Dollar lost will be just in the beginning of this week and by the end, it will regain some influence again. The most important events witch will take place in the market’s movements are Germany's GBP on Wendsday, Jackson Hole Symposium in Thursday and Friday. This week's strategy of World-Signals.com will be to buy long positions in Monday and to exit at levels 1.1420 witch is the main resistance level.
In the past week World-Signals.com saw the US dollar taking over above the Euro in the second half of the week in cause of the good data about the working places in USA. This week the fundamental key information about the market that can occur and have influence are from GDP in Germany and the Euro Zone in Friday and Retail Sales in the US. World-Signals.com expects attempt of consolidation from EUR/USD for a while at the same levels. First key support level is at 1.1045, as the test of this level will occur about 1.0960. First level of resistance will be around 1.1160 followed by 1.1233. The next event will be the US Dollar's attempt at levels 1.0960 and below.