Weekly Forex Outlook: April 2-6

The US dollar recovered from the bottom of the range, in which it has been trading since the end of January.

There were some positive factors for the greenback. Firstly, concerns over global trade protectionism eased. Secondly, there was some progress on North Korea’s nuclear program. Plus, investors closed their USD short positions ahead of the end of the quarter.

Of course, as the new quarter begins in April, the USD will no longer have the support of monetary inflows, so it remains to be seen whether the American currency is able to continue strengthening. Pay attention to the technical levels of the USD index: resistance is at 90.50 and support is at 88.20.

USD/JPY rose from 104.60 to 107.00. The pair may rise to 107.60 and 108.50 especially in case of the weekly close above 106.00.

GBP/USD made a pullback down. Notice that there’s a strong resistance at 1.4270 – it’s a 200-week MA. The last time the pair traded above this line was in 2014.

EUR/USD keeps meeting resistance at 1.2450/1.2500 ahead of 1.12550. it’s not likely that the situation will change in the coming days. Focus on support at 1.2200, although a break lower would take some really good news from America.  

Economic calendar

Britain will release manufacturing PMI on Tuesday.

On Wednesday, await Australian retail sales, the UK construction PMI, euro area’s flash inflation for March, US ADP employment report and ISM services PMI.

Thursday will bring AUD trade balance, GBP services PMI and Canada’s trade balance.

Finally, the first Friday of April, so the US will release NFP, average earnings, and unemployment rate.



Jackson Hole, Gold, and Powell | Market News
Jackson Hole, Gold, and Powell | Market News

The gold has made a perfect retest, but will it hold against the rising dollar? Also, the Jackson Hole Symposium and Jerome Powell's speech may become critical for most assets, and finally, more economic releases and earnings reports await you.

Latest news

FOMC Meeting, Gold Plunge, and Pound Decrease | Market News
FOMC Meeting, Gold Plunge, and Pound Decrease | Market News

Although the last week was intense, this one may be more dynamic and volatile. After the FOMC meeting and controversial decisions from the Bank of England, we saw a historical pound decrease, and the gold plunge. And there’s even more for you.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera