Weekly Forex Outlook: December 10-14

Let’s have a look at the economic calendar.

US PPI figure will be out on Tuesday. Also that day the market anticipates a release of the British Average Earnings Index. And of course, we all are waiting for the UK Parliament Brexit Vote. If the Parliament votes against the deal, the British pound will plunge. Otherwise, the end of the Brexit will come closer and the British pound will be supported.

Wednesday will bring important economic data for the USD. CPI and Core CPI figures may support the suffering US dollar.

On Thursday, traders will get a chance to trade on central bank meetings. The European central bank and the Swiss National Bank will give clues on the current economic conditions and future monetary policy. If banks sound optimistic, it will support domestic currencies.

On Friday, Retail Sales and Core Retail Sales data will determine the direction of the USD.

Let’s have a look at the technical side.

Where will the GBP go?

The direction of the British pound will depend on the Brexit deal news. In the case of a progress, the GBP will be able to leave the range of risky lows. Key resistances are at 1.2824 and 1.2921. However, worries that the Parliament votes against the Brexit deal prevail. In the case of the negative outcome of the vote, the GBP will fall. Supports are at 1.2643 and 1.2559.

Has the EUR broken the downtrend? It seems like the EUR has left the downward channel. A rise of the EUR/USD pair is caused by the weakness of the USD. If the USD is weaker and the economic data are encouraging, the pair may rise to 1.1488, the next resistance is at 1.1551. However, risks of the fall still exist. A break of 1.1374 will pull the pair to 1.1323 and lower.

What is the trend of the USD/JPY? The pair has formed a double top pattern. The direction of the pair depends on the strength of the USD and the market sentiment. If the USD recovers and the pair rebounds from 112.50, the rise is more likely. Resistances are at 112.90, 113.5990. If the pair breaks the support at 112.50, the fall to 111.3143 is highly expected. 


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