Investogist
No Result
View All Result
Sunday, June 1, 2025
  • News
    • All
    • Africa
    • Nigeria
    • World
    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    List of Stockbrokers in Nigeria

    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

    Dangote Refinery reduces petrol price by N15 nationwide

    Dangote Refinery reduces petrol price by N15 nationwide

    Jaiz Bank Plc Board of Directors propose over N830 mn as dividend for 2020

    Beta Glass Plc announces N2.95 final dividend for 2024 FY

    Fidelity Bank to issue 3.03 billion Ordinary Shares by way of Private Placement

    “Bankruptcy” report – Fidelity Bank Plc clarifies position

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    SEC approves Busha and Quidax as crypto exchanges in Nigeria

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
Investogist
  • News
    • All
    • Africa
    • Nigeria
    • World
    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Breaking: President Tinubu dissolves Boards of Parastatals, Agencies, Institutions

    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

    All diaspora remittances must be received by beneficiaries in foreign currency only – CBN

    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    Pope Leo XIV holds inaugural mass, sets tone for his papacy

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    List of Stockbrokers in Nigeria

    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

    Dangote Group announces major investment in rice production

    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

    Dangote Refinery reduces petrol price by N15 nationwide

    Dangote Refinery reduces petrol price by N15 nationwide

    Jaiz Bank Plc Board of Directors propose over N830 mn as dividend for 2020

    Beta Glass Plc announces N2.95 final dividend for 2024 FY

    Fidelity Bank to issue 3.03 billion Ordinary Shares by way of Private Placement

    “Bankruptcy” report – Fidelity Bank Plc clarifies position

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin crosses US$60K, approaches All-Time High

    Bitcoin (BTC) rises above US$80,000

    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

    NGX RegCo suspends Trading of Oando Plc shares

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    SEC approves Busha and Quidax as crypto exchanges in Nigeria

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Markets Forex

FOREX Forecast for the Week 18th May to 22nd May

Brought to you by Hybreed Forex Price Action

Sunday, 17 May 2020, 9:00 pm
in Forex, Markets
0
FOREX Forecast for the Week 18th May to 22nd May
Share Share Share Share Send as Email

EURUSD

EURUSD continues to bear down on the wedge support we discussed last week. The pair barely made it off the support before encountering sellers at 1.090 resistance. Despite the bullish engulfing candle that formed on Tuesday, the bullish pin bar on Thursday, the EUR still remained under pressure from USD, it even carved a bearish pin bar with Fridays close.

My opinion still remains to wait for a break out from this short term wedge then we will have a clear direction. It is currently leaning on a confluence of support between the wedge support 1.0790 and horizontal level 1.770.

  • Read also; Commodities Exportation in Nigeria: An Insider Account

Key support on the way includes 1.0725 which is also the bottom of the multiyear wedge on the monthly time frame followed by 1.05210.

NZDJPY

NZDJPY has consolidated for two months now. It has been range bound between 66.125 and 66.700.

Friday’s close below 63.710/3 exposes 58.570, this level supported the pair from 2009 to 2012. This is very clear on the weekly time frame. The level is 53.635 followed by 48.00

  • Read more; How Much is the Business Worth: The Balance Sheet – Valuing Assets

However if buyers manages a close to take out 66.125 that will negate the bearish outlook we have here.

The bearish stance agrees with the confirmed breakouts on the NZDUSD and NZUCHF that we discussed in last week’s forecast.

GBPUSD

GBPUSD finally broke out as anticipated. The question now is how far down can sellers be able to go? I noted last week that break below will most likely be seeking a steeper low which will be taking it to year to date lows at 1.1405 at least from a technical view point.

However the measured objective of the wedge comes in around 1.17810 support level. On the way down are 1.200 followed by 1.7810 and 1.1405.

CADCHF

This is another bear flag consolidation that might be breaking out soon. The long term down trend and a recent 748 pip sell off is enough for a consolidation of this kind. The pair is in an ascending channel. one thing about ascending patterns be it a channel, wedge or trend line is that they seldom break to upside if at all it happens it is often times a bull trap.

  • Further read; Coronavirus Update – Nigeria receives Madagascar’s Covid-Organics as 176 New Cases are Recorded

If we see a buy signal from the channel support it will provide an opportunity to buy and target the channel top with resistance at 0.6980.

If we get a breakout below support 0.6850 area that will expose 0.6700. 0.6700 is a multiyear low dating back to 2010. If sellers mages to take out this support level there will be nothing in form significant below that.

XAUUSD

We discussed Gold on the 4th, the consolidation we discussed which was in the form of a range between 1740 and 1680 also happened to be in a narrowing wedge. Gold broke the wedge and range resistances on Thursday and Friday respectively. I also highlighted what might be an inverse head and shoulders.

The objective of the wedge lies just short of 1800 resistance level while the inverse head and shoulders objective is at 1925.

If we see gold close back 1640 that will be a show of weakness that will negate or delay the bullish outlook.

Written by:

Chijioke Maduakor

@ Hybreed Forex Price Action

Disclaimer: Any person accessing this information and considering potential investment opportunities featured here should make their own commercial assessment of an investment opportunity after seeking the advice of an appropriately authorized or regulated financial advisor. This information should not be construed as advice or a personal recommendation to any prospective investor.

Related Posts:

  • Forex 1
    Hybreed Weekly Forex Forecast - week ending 22nd…
  • Forex 1
    Hybreed Weekly Forex Forecast week ending 22nd to…
  • Forex 1
    Hybreed weekly forex forecast: week ending 14th to…
  • Forex 1
    FOREX Forecast for the week 29 June - 3 July 2020
Previous Post

CFDs Review May 11, 2020 to May 15, 2020: Forex, Indices and Commodities.

Next Post

Coronavirus Update: Madagascar Records First Death; 338 New Cases Confirmed in Nigeria.

Next Post
Coronavirus Update – Cases Rise in the North; Nigeria Records 220 new cases

Coronavirus Update: Madagascar Records First Death; 338 New Cases Confirmed in Nigeria.

Please login to join discussion
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

Prosecutors demand six-year prison sentence for Simon Ekpa

Prosecutors demand six-year prison sentence for Simon Ekpa

List of Dividends announced in 2024, qualification and payment dates

List of Dividends announced in 2024, qualification and payment dates

List of Stockbrokers in Nigeria

Weekly Market Report: NGX market capitalization settles at N70.46 trillion

List of Stockbrokers in Nigeria

Weekly Market Report: NGX market capitalization settles at N70.46 trillion

Prosecutors demand six-year prison sentence for Simon Ekpa

Prosecutors demand six-year prison sentence for Simon Ekpa

MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

Quick Links

News
Economy
Markets
Business
Opinion & Analysis

Newsletter Signup

Contact Investogist

info@investogist.com

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2025 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Business
    • Companies
    • Industry
    • Technology
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies

Copyright © 2025 investogist.com, All Rights Reserved