GBPUSD WEEKLY FORECAST:::RIDING THE WAVE 3 LEG ON A STRONG BULLISH BIAS

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GBP/USD continued to climb against the US dollar last week. The pair posted modest gains, closing at 1.6782. This week’s highlight is Retail Sales. Here is an outlook for the main events moving the pound, and an updated technical analysis for GBP/USD.
The pound got some help from solid UK employment numbers, as Claimant Count Change posted another solid decline and the Unemployment Rate unexpectedly fell below 7.0%. In the US, Unemployment Claims beat the estimate and the Philly Fed Manufacturing Index surged to its highest level since last September.
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EURUSD WEEKLY FORECAST:::FIBONACCI BULLISH PRICE TARGET AHEAD

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EUR/USD fell lower on a Sunday gap and could never retake the previous levels. Will the attempts to talk down the euro succeed? PMIS and a speech from ECB president Mario Draghi are the key events. Here is an outlook on the highlights of this week and an updated technical analysis for EUR/USD.
Draghi made his mark once again: he tied further monetary stimulus to the value of the euro. His weekend comments opened a gap lower that was never closed. Pressure on the euro also came from the miss in the German ZEW figure and also from the downwards revision of core CPI for March, which is now at its lowest level post-crisis level. Data in the US was mostly positive, with an encouraging jobless claims figure and better than expected retail sales, although more evidence is needed to convince everybody in the spring bounce theory.

NZD/USD WEEKLY FORECAST:::STILL ON THE BULLISH RETRACEMENT TO COMPLETE A FIBONACCI SEQUENCE

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The New Zealand dollar corrected the big gains and closed lower after the disappointing CPI. Is it a change of course or a pause? The rate decision is the main event for this week. Here is an analysis of fundamentals and an updated technical analysis for NZD/USD.
The level of inflation in New Zealand did not rise as expected and this hurt the kiwi. The big question is: Will the RBNZ slow down the pace of rate hikes? We will get some answers this week.
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USD/JPY WEEKLY ANALYSIS:::WEAK BEARISH MARKET IMMINENT

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The Japanese yen retreated as the US dollar enjoyed wide gains across the board. Will the pair make a meaningful break out of the range? Inflation figures are the highlights of the week. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY.
BOJ governor Kuroda made it clear that monetary stimulus will continue. The question remains: will the central bank introduce a new blitz to counter the sales tax hike effect? The level of inflation will make a difference. In the US, data has been generally positive, with better than expected jobless claims as well as accelerated retail sales. Let’s start.
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USD/CAD WEEKLY FORECAST::MARKET PRICE ON BULLISH BIAS

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For the second straight week the Canadian dollar showed little change, closing slightly above the 1.10 line. This week has just three releases, highlighted by Core Retail Sales.  Here is an outlook on the major events and an updated technical analysis for USD/CAD.
Canadian Manufacturing Sales posted strong gains for the second straight month, and the Bank of Canada held its benchmark interest rate, as expected. In the US, Unemployment Claims beat the estimate, while dovish comments by Fed chair Janet Yellen weighed on the greenback.
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