Trading Support And Resistance - Sunday, April 18

10 and 20 us dollar bill

This week we will begin with our monthly and weekly forecasts of the currency pairs worth watching. The first part of our forecast is based upon our research of the past 18 years of Forex prices, which show that the following methodologies have all produced profitable results:

Let us look at the relevant data of currency price changes and interest rates to date, which we compiled using a trade-weighted index of the major global currencies:

Currency Price Changes and Interest Rates

Monthly Forecast April 2021

For the month of April, we again forecast that the USD/JPY currency pair will rise in value, while the EUR/USD currency pair will fall. The performance so far is negative:

Monthly Forecast April 2021

Weekly Forecast April 18

Last week, we forecast that the EUR/GBP currency cross was likely to fall in value, while the GBP/CHF currency cross is likely to rise in value. Over the week, EUR/GBP fell by 0.16% while the GBP/CHF currency cross rose by 0.39%, so this was a good call which gave an average win of 0.28%.

The Forex market showed a strong decrease in its level of volatility last week, with only 11% of the important currency pairs and crosses moving by more than 1% in value. Volatility is likely to remain at a similar level over the coming week.

Last week was dominated by relative strength in the New Zealand dollar, and relative weakness in the U.S. dollar.

You can trade our forecasts in a real or demo Forex brokerage account.

Previous Monthly Forecasts

You can view the results of our previous monthly forecasts here.

Key Support/Resistance Levels for Popular Pairs

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