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Daily Market Analysis from ForexMart

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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Jan 11, 2017 7:20 am

GBP/USD Technical Analysis: January 10, 2017


As the week starts, the British currency was marked red. The GBP/USD softened due to rising concerns about Hard-Brexit. However, the price index of Halifax provided minor support for the pound because the House Prices published a higher than expected results. Meanwhile, sellers consistently manage the †overall market on Monday.


The sterling had a downward price break during the daily trades opening as it promptly spread its weakness until the 1.2200 level.


After the pair reached the level, the pressured area continued to fade while the pair advance towards the consolidation phase. However, the consolidation was short-lived making another bout of selling pressure which drove the Cable to the 1.2100 area.


A downward momentum further faded with some pips on top of the 1.2200 handle after it touched the 1.2123 mark, the price rebounded and lessened the amount of their losses.


The 1-hour chart showed that the sterling lead the moving averages towards a lower point, seeing the †50-EMA descended while 200 and 100-EMAs are trending flat. Resistance took the 1.2200 range, support entered the 1.2100.


The MACD indicator jumps into the negative zone. In case the histogram hovered in the negative territory, sellers will strengthen. The RSI stay close to the oversold condition, indicating another lower movement.

As shown in the 4-hour chart, the bearish bias will prevail. Sellers were able to come at 1.2100 level in the near-term, heading to 1.2000. There is still a possibility for the GBPUSD to make an attempt in reclaiming the resistance regions 1.2200 Ė 1.2230.
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AUD/USD Fundamental Analysis: January 10, 2017

Post by Andrea ForexMart on Wed Jan 11, 2017 8:58 am

The recent drop in the value of the US dollar proved to be good news for the Australian dollar, as this provided substantial support for the AUD during the previous trading session. In spite of the fact that the previous sessions were mostly made up of high bottoms and tops, the Australian dollar was still generally able to maintain its standing on †the positive side of the chart. The AUD/USD pair closed down the previous trading session at 0.7353 points after increasing by +0.82% or 0.0060 points.


A number of Australian economic data was released during Mondayís trading session, with the Building Approvals data coming in at a positive 7.0% reading and the Australian retail sales data coming in at a somewhat dismal reading of 0.2% after failing to meet market expectations of 0.4%. Meanwhile, the US Labor Market Conditions Index dropped by 0.3 points, while the Consumer Credit data surged by 24.5 billion from its previous reading of 18.3 billion.

The AUD/USD pair will be starting off todayís trading session within a somewhat critical range within 0.7341 to 0.7385 points. If the currency pair moves just underneath 0.7341, then this will be an indicator of a larger selling pressure than buying pressure at the present levels of the pair. Since there are no expected economic news releases from the region for today, traders are most likely to focus on external events and its effect on the USD and subsequently, on its effect on the AUD. The US dollar could lose its appeal as an asset if oil prices drop further which will cause US Treasury yields to fall as well.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Jan 11, 2017 11:00 am

GBP/USD Fundamental Analysis: January 10, 2017


The sterling pound continued its weak trading activity during yesterdayís session as the fears and confusion surrounding the Brexit process as well as other such concerns continue to weigh down on the GBP, a trend which has been going on for the past weeks. The GBP/USD pair was unable to increase in value in spite of the marked dollar weakness during the previous trading session. Market analysts are speculating that the currency pair is currently locked within a highly bearish stance and could possibly incur more losses in the coming days.


Stock prices fell yesterday due to uncertainties surrounding the current position of commodity prices, particularly crude oil prices, as well as Brexit-related concerns. A lot of traders and investors are saying that the market might be well-headed for a hard Brexit, which means that the negotiations between UK leaders and EU officials might prove to be much harder than expected, and also implies that the UK might be unable to obtain free market zone access to the rest of the European Union once they formally leave the eurozone. In addition, Scotland seems to be taking measures to leave the UK in protest to Brexit, which means that the sterling pound is more likely to decrease further in value.

For todayís session, the current market trends are expected to continue since there are no scheduled releases from the UK and the US. The sterling pound is still expected to fail to bounce back from its recent low levels due to the various negative economic factors which continue to affect the state of the pound.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Jan 11, 2017 11:54 am

EUR/USD Fundamental Analysis: January 10, 2017


The EUR/USD pair exhibited bullish stances during yesterdayís trading session. The US has recently released its average wages data as well as its employment reports data, both of which turned out to be highly satisfactory particularly for investors. This set of data has then set the tone for the marketís movements this week. The USD has increased significantly in value as opposed to the EUR, but the EUR/USD pair was able to counter this movement and instead consolidated during the Tokyo and European trading sessions. The currency pair was able to break through 1.0580 from 1.0520 during the North American session before finally settling just below 1.0600 points.


The USD received little support from comments from Fed officials yesterday, which turned out to be hawkish. The currency pair is now back to trading near its weekly highs last week, a crucial position for both the USD and the EUR. The dollar will most likely be able to regain its strength if the EUR/USD experiences a breakdown. However, if the EUR is able to go beyond 1.0600 and possibly reach 1.0650 points, then the euro could increase in value, thereby putting the US dollar in negative territory. A number of large-scale banks and hedge funds are expecting the USD to regain its strength anytime soon since the fundamentals are all pointing towards a higher value for the USD. However, the dollar bulls must be able to obtain the right timing in order for the USD to strengthen further.

Todayís trading session is most likely to be dominated by the recent market trends as there are no major news releases expected from both the US and the European Union. The pricing of the USD is closely monitored by the market since this could be a catalyst on whether the stock market will be pushing through their bullish direction or consolidate instead.
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EUR/USD Technical Analysis: January 11, 2017

Post by Andrea ForexMart on Thu Jan 12, 2017 7:34 am

The positive data from the Investor Confidence in Euroland had strengthened the single European currency yesterday. While, the U.S dollar was able to regain its losses last Tuesday as the Fed told to support the rate hike in 2017. The traders look forward to the ongoing status for Trumpís first conference scheduled today.


Moreover, the momentum of EU appears to be short-lived having touched the 1.0600 level amid the morning trades on Tuesday. After the daily high was set at 1.0626, the EURUSD moved back under 1.0600 in the post session of the European open.


The sellers drove the EUR downwards prior the opening of the New York trading. As shown in the 4-hour chart, the price resumed its development on top of the 200-EMA which considered to be pairís support. The 200 and 100-EMAs were trending flat while the 50-EMA headed upwards. Resistance entered the 1.0600 region, support is at 1.0550 handle. The technicals gradually approached the lower positive territory.


The MACD histogram declined which confirmed weak position for the buyers. The RSI oscillator hovered around the undervalued zone.

According to forecast, the bearish pressure will be renewed in the near-term. A rapid decline below the 1.0550 mark would indicate further vulnerability for the pair. The next bearish target is posted at the 1.0500 level.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Jan 12, 2017 10:40 am

GBP/USD Technical Analysis: January 11, 2017


The British pound had maintained its present stance on the back of the remarks made by PM Theresa May. The hard-Brexit continue to affect the investorís sentiment while the attention of investors was focused on the data release of Industrial and Manufacturing Production.
Bears remains to dominate the market and their holds are becoming tighter.


Furthermore, the sterling continued to weaken on Tuesday followed by the short consolidation amid the Asian hours. The sellers moved the cable downwards and touched the 1.2100 level in the London session.


The 4-hour chart showed the price stayed below the moving averages and further cope with the consolidation period before the opening of the NY session. The MAs preserved its bearish trend. Resistance plunged into the 1.2200, support lies at 1.2100 region. The technicals shifted towards a lower point.


The MACD indicator had a dip which favors strength for the sellers. The RSI stick around the oversold levels.


The GBP seems oversold in the near-term which allows reversal of losses. The probable minor recovery around 1.2200 provides an opportunity for short positions. The pair may not change its movements in the near future even though the readings suggests an oversold condition.

The sellers have the chance to regain its seat in case the trend will reached 1.2100 and lead the cable through 1.2000.
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AUD/USD Technical Analysis: January 11, 2017

Post by Andrea ForexMart on Thu Jan 12, 2017 12:11 pm

The Aussie presented a sluggish stance yesterday as the Retail sales data showed negative results. The pessimistic input for the Chinese CPI had affected the currency as well.
Moreover, an attempt to surpass the 0.7350 level were unsuccessful.


Buyers advanced to 0.7385 where AUD/USD found some fresh offers and declined to 0.7350. Having tested the aforesaid level, sellers resumed its struggle to push the price downwards.


During the morning trades, the price tested 200-EMA as indicated in the 4-hour chart. It further stalls the bullís movement to continue forward as it acted as the spotís resistance.


The 200 and 100-EMAs are neutral while 50-EMA edged higher as mentioned in the same timeframe. Resistance holds 0.7400 level, support is seen at 0.7350 region .

MACD indicator dwindled and implied weak position against the buyers. RSI consolidated around the undervalued readings.

As the forecast says, bearish bias kept prevailing in the market. In the most probable scenario, if the price focus below the 0.7350 support level the short-term downtrend could possibly continue. The next target of the sellers are marks 0.7250 and 0.7300.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Jan 13, 2017 6:43 am

USD/CAD Fundamental Analysis: January 11, 2017


Just like the majority of other currency pairs, the USD/CAD pair had ranged and consolidated all throughout the rest of the previous trading session without any definite direction. The traders and investors transacting in this particular pair seem to be uncertain with regards to its direction and is first making sure that the currency pair first takes a definitive step on its chosen direction before they do actual buying and selling with the USD/CAD pair. The general trend for the USD/CAD pair is expected to be on an upward direction, and corrections along the way should be seen as long opportunities.


During the previous trading session, oil prices took a turn for the worse as the agreements between oil producers failed to go as smoothly as originally planned, mostly due to the lack of proper implementation from both parties. As a result, the CAD was kept from rising value as oil prices subsequently crashed in value. This is why the CAD was unable to take advantage of the recent decrease in the USDís value, and the Canadian dollar is now finding it difficult to make substantial progress in both directions,whether upward or downward.

There are no major news coming out from both the Canadian and US economy for today. However, Trump is scheduled to address the US in a press conference later today and the market will be relying on this particular address since this will be the determinant of the general direction of the US dollar. As for the USD/CAD pair, the currency pair would most likely be affected once Trump addresses how he will be handling the international neighbors of US, with Canada being one of them.
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GBP/USD Fundamental Analysis: January 11, 2017

Post by Andrea ForexMart on Fri Jan 13, 2017 8:15 am

The sterling pound merely continued its previous activity of consolidation and ranging albeit with no clear direction as of the moment. The range of the GBP/USD is tightening further as we speak, and the market is expecting an explosion any time soon. However, this major eventís direction has yet to be seen but it can be assured that there is a movement by up to 300-400 pips. However, the risk for the GBP/USD pair is expected to remain in the downward direction due to the weak GBP and strong uptrend in the USD.


However, the recent strength of the USD is expected to be tested today during Trumpís press conference since the market will be closely monitoring Trumpís approach with regards to a number of issues. If Trump decides to take the diplomatic route, then this could trigger a boost in the value of the USD, thereby putting immense pressure on the GBP/USD pair, even though the sterling pound is still currently undergoing pressure from the various confusions surrounding the Brexit process.

The UK is set to release its manufacturing production data for todayís trading session, and this will be an indicator of whether the UK will be able to maintain its current trend of positive data releases which are not yet affected by the Brexit process. If this particular data comes out as negative, then this could increase the pressure on the sterling pound.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Jan 13, 2017 10:15 am

USD/CAD Fundamental Analysis: January 12, 2017


The USD/CAD pair exhibited additional corrections during yesterdayís trading sessions as the US dollar weakened significantly following the press conference of president-elect Donald Trump. The market initially expected Trump to give hints on his proposed economic, fiscal, and monetary policies but instead disappointed market players after he merely talked about his personal interests and his business enemies. This then caused the dismal drop in the value of the dollar. The stock market was able to recover slightly towards the end of the session, but the same could not be said for the US dollar.


As oil prices managed to regain its losses during yesterdayís session, this has proved to be good news for the Canadian dollar since this lended the CAD some much-needed support and has triggered the USD/CAD pair to reach just under 1.3200 before settling to 1.3150 points. The economic news release from Canada came out better than what the market expected, and since oil prices are now looking good, these are expected to provide susbstantial support for the CAD in the long run. The USD/CAD pair could possibly test the 1.3000 level due to the recent weakness in the USD

For todayís session, there are no major releases from the Canadian economy but we have the unemployment claims data from the US which will be released during the North American trading session. However, the most dominant market trend today would most likely still be the effects of the recently concluded press conference, and this is why the pair is possibly up for more weakness and volatility for today.
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GBP/USD Fundamental Analysis: January 12, 2017

Post by Andrea ForexMart on Fri Jan 13, 2017 11:47 am

The US dollar took the spotlight yesterday as the market reacted wildly to Donald Trumpís press conference during the latter part of the New York trading session. The market was initially subdued during the London and Tokyo trading sessions since the market was generally looking forward to gauge Trumpís demeanor, as well as to decipher his administrationís plans for the next 4 years and to see whether Trump will actually be pushing through with his proposed policies during his campaign.


However, Trump went in for a very disappointing run as he displayed his usual tactlessness and brashness and even highlighted his desire to build a Mexican border within two years. This move was wholly unexpected by the market, and this caused the USD to crash and plummet across the board. The GBP/USD pair, which has been languishing in the bottom rungs of the market for the past 2 months, was able to immediately recover its losses and was able to push through 1.2200 points and even reached 1.2250 before finally settling at just under 1.2200 points.

Since there are no major news releases expected from the UK for today, the previous market trend is expected to dominate todayís trading sessions. The bulls could possibly profit from a solid upward move from the GBP/USD pair if the pound would be able to break through 1.2300. Otherwise, the currency pair could be merely subject to short-term corrections.
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USD/JPY Technical Analysis: January 16, 2017

Post by Andrea ForexMart on Mon Jan 16, 2017 11:19 am

The USD has attempted to regain its losses against the Japanese yen during the previous trading session as the market went unaffected by a slew of highly positive economic data from China, namely Exports and Imports data, as well as the Chinese Trade Balance data. During the Tokyo trading session last Friday, the USD was able to regain its upward balance following its recent decline, while buyer strength manifested positive bid stances which caused the pair to exceed 115.00 points prior to the opening of the North American session. But this upward movement eventually lost its momentum which then caused the USD/JPY pair to drop back to lower than 115.00 points. Traders also induced the currency pair to drop further to 114.00 points during the middle of the New York trading session. The USD/JPY pair was able to test the 50 EMA in the hourly chart. Resistance levels for the USD/JPY is situated at 115.00, while support levels are expected to be at 114.00 points.

For the next trading session, the USD/JPY pair could possibly decrease further in value and could hit 114.00 up to 113.00 points unless buyer strength could help the currency pair to consolidate just above 116.00 points.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Jan 16, 2017 12:04 pm

GBP/USD Technical Analysis: January 16, 2017


The USD regained its previous losses following the release of a highly positive Producer Price Index data, while the sterling pound dropped in value as a response to dollar strength and the recent uncertainties surrounding the Brexit process. The GBP/USD pair lost its momentum as it reached over 1.2100 during the early trading sessions last Friday. As the European trading session opened, the pound regained its losses and buyers induced the pricing of the currency pair to increase and reach 1.2200 points during the European session. However, the pairís momentum faded almost immediately afterwards, with the GBP extending its losses up to 1.2118 points.

The moving averages for the currency pair were all able to sustain its bearish stance, and resistance levels for the GBP/USD pair are expected to be at 1.2200 points. Meanwhile, support levels are expected to be at 1.2100 points. The GBP/USD pair could revert back its losses if it manages to regain its strength at the 1.2200 trading range. If the currency pair will be able to exceed this particular value, then this could cause the bulls for the currency pair to drive the value of the pair towards 1.2300. On the other hand, if the pair drops and moves toward 1.2100, then this means that seller strength will be returning and will cause the pairís price to plummet further towards 1.2000 points.
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EUR/USD Technical Analysis: January 16, 2017

Post by Andrea ForexMart on Tue Jan 17, 2017 5:07 am

The release of economic data from the US last Friday lended some much needed support for the US dollar. The retail sales data dropped in value and failed to meet market expectations, while the data for the Producer Price Index came out on a highly positive note and exceeded market expectations. Meanwhile, the EUR continued to incur losses in spite of upbeat data coming from the European Union, such as the German Wholesale Price Index as well as the Spanish Consumer Price Index.


The euro tried climbing up during Fridayís session but was able to regain its upward bias during the Tokyo session after euro sellers encountered a price barrier at 1.0600 which then caused the EUR to drop in value. As the London session commenced, the EUR/USD pair rose and hit 1.0650 points, with the euro regaining all of its previous losses during the opening of the North American trading session. The price of the currency pair continued its climb and exceeded its moving averages as seen in the 4-hour chart. The 50 and 100 EMAs are currently pointing in an upward direction, while the 200 EMA stayed within neutral territory. Support levels for the EUR/USD are projected to be at 1.0600, while resistance levels are expected to be at 1.0650 points.

If the EUR/USD pair is unable to exceed 1.0650, then this could cause selling interest for the pair to return. However, if the pair drops and breaks through 1.0600 points, then traders are advised to monitor 1.0550 and 1.0500 points. The EUR/USD will only be able to recover if it is able to sustain its stance at 1.0650 points.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Jan 17, 2017 5:38 am

USD/CAD Fundamental Analysis: January 16, 2017


The USD/CAD remained to trade close on its range lows on the back of the dollarís strength recovery. While the prices of oil appeared to have an optimistic result which assisted the CAD keep in the short term.


The pair plunge under †the 1.3100 level following the extensive weakening of the dollar, however, it immediately found buying pressure which supported the pair to return on top of 1.3100.


Over the past few months, the USDCAD showed a consistent uptrend and every correction met a prompt and strong bounce which seems to be repetitive. The way towards the 1.400 medium target suggest a slow progress and the main uptrend supported the bulls to purchase every correction.


Recently, the pair have acquired more †buyers and there are banks that started to advise their clients regarding the 1.40 target.


The strong Canadian data with a weak economy of the country is the reason why traders are directed to maintain a hard clean break under 1.3000 which signals that an uptrend has ended.

There are no major economic data from Canada for this day since it was a bank holiday in the United States. It is further expected for a consolidation and ranging close to the range lows today.
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GBP/USD Fundamental Analysis: January 16, 2017

Post by Andrea ForexMart on Tue Jan 17, 2017 6:12 am

The GBP/USD closed the week with a sluggish stance and struggled to maintain its gains. These events put on some fears against the pound bulls because this will weigh over the Cable upon the return of dollarís strength.


The pair stayed below the 1.2200 on Friday until the weekend took place which triggered indications for a hard Brexit. This caused for the pair to create a large gap and traded shortly under 1.2000.


The strong economic data of the UK shown for the previous months did not influenced the sterlingís value at all. However, it is deemed that the British currency is able to withstand its current situation and will accumulate gains afterwards. Looking forward, the bulls still needs to endure the worst impact as the bears tend to insurge. The hard Brexit cause risk and confusion for the investors which made them think twice prior pound purchase.


In the last two weeks, there are news about the UK's possibility to employ hard Brexit, whereas, PM Mayís speech is highly anticipated within this week. This event brought the Britainís economy a tough time but we believe the country will become much stronger eventually.

For today, we expect no new UK economic release and losses is further expected with a fundamental near-term target of 1.17.
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EUR/NZD Technical Analysis: January 17, 2017

Post by Andrea ForexMart on Wed Jan 18, 2017 6:47 am

A break higher than the minor resistance of 1.5007 is seen from 1.5235 level. This is followed by a next †break at 1.5193 completes the second wave towards the 1.5837 third wave level. Beyond the third level indicates a long-term position while trying to confirm the latest correction completes the zig-zag correction. On the other hand, the †support levels could go towards the 1.4778 level before the next unexpected surge comes in.

Currently the Resistance level of the pair comes in at 1.5007 then 1.5050 towards 1.5193 levels while the Support level is seen at 1.4841 then 1.4810 towards the 1.4778 levels. The Pivotal turn is at 1.4895 level with buying opportunity when the price breaks more than the 121.687 level.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Jan 18, 2017 6:57 am

EUR/USD Fundamental Analysis: January 17, 2017


The EUR/USD pair traded weakly during the previous trading session with the weak euro having more effect on the currency pair than the recent dollar weakness. The international economy is now very concerned with UKís hard Brexit process, since this could spell disaster not only for UK but also for countries within the eurozone. Although the hard Brexit could have less negative effects for the UK, this could instead affect EU countries since most of them are doing business with UK, and the removal of a free trade zone with UK and the rest of the EU could become very disastrous for a lot of EU countries.


This was one of †the reasons why the EUR/USD pair corrected largely during yesterdayís session and plummeted down to 1.0600 points yesterday and even went lower for some time. The currency pair could have experienced much larger corrections if not for the US bank holiday yesterday.

For todayís trading session, there are no important economic data coming from the eurozone but Theresa May will be speaking during the New York session with regards to the guidelines of the expected hard Brexit. Mayís speech could have a negative effect on the value of the euro and traders are expected to take extra caution when it comes to trading with this particular currency pair.
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GBP/USD Fundamental Analysis: January 18, 2017

Post by Andrea ForexMart on Wed Jan 18, 2017 10:08 am

The GBP/USD pair exhibited heightened volatility during the previous trading session as the dollar lost strength and the sterling pound regained much of its footing in the market. Theresa Mayís speech yesterday helped in clearing up some of the murkier parts of the Brexit process, and this has helped in placating various investors and has minimized concerns surrounding the Brexit process, thereby increasing the value of the sterling pound. This has then prompted investors to pull out their funds from the USD, thereby causing the dollar to drop in value.


Theresa May has highlighted in her speech yesterday that the UK will indeed be going for a hard Brexit and will be eliminating any kind of access from the eurozone. However, the PM has reiterated that the UK government will be negotiating with eurozone leaders in order to have a different kind of trade relations with the European bloc. Since this has eliminated confusions surrounding Brexit matters, thereby increasing the pairís volatility levels. The GBP/USD pair initially dipped to 1.2015 points prior to Theresa Mayís speech but quickly climbed up to a daily high of 1.2414 points.


However, there are still a handful of concerns surrounding the Brexit process, and the expected invocation of Article 50 is also seen as a possibly risk for the stance of the currency pair as well as the UK economy. As such, these are expected to continuously pressure the GBP in the next few days.

For todayís session, UK will be releasing its claimant count change data as well as its average earnings data, while US will be releasing its CPI data later today. It remains to be seen whether these data sets would be continuing the string of good economic data during the past few days. If the UK data comes out as positive, then this push the pair upwards to 1.2500 points, although this might not be enough to actually push the currency pair beyond this particular barrier.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Jan 18, 2017 10:47 am

USD/CAD Fundamental Analysis: January 18, 2017


The Prime Minister of UK, Theresa May laid out few ground rules yesterday regarding the possible flow of the Brexit process. Global risks were also expected to lessen and in whatever time it might occur, it will likely weigh on the dollar.


The greenbacks were seen to be on its weaker stance prior this event that will hit the currency much harder. This will caused for the USD/CAD to test 1.3000 over and over, there is also a sudden solid bounce upwards.


The USD continued to suffer from the drawbacks due to the risky environment from Trumpís administration which continue to confuse traders and investors because of its vague plans.


Moreover, the expected thrice rate increase of the Fed will likely be supported by the dollar with the medium and long term, however the near-term risk that surround the new US government causes the dollar to soften.


Another test of lows is assumed to occur in case the Canadian data will present an optimistic result. Since the economic data from the region is relatively strong and identify whether this upbeat is from the BOC statement about rate policy or from the media conference of the BOC Governor.

Furthermore, the BOC is scheduled to hold its rate for today, in case the statement came in hawkish, the 1.3000 level are needed to test †again.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Jan 19, 2017 6:52 am

EUR/USD Fundamental Analysis: January 18, 2017


The EUR received a much-needed boost from yesterdayís trading events, wherein the USD plummeted and weakened while the sterling pound regained its previous losses across the board. This has then caused the EUR/USD pair to break through the 1.0600 barrier after quite a time and even went up as high as 1.0700 points, where it traded momentarily before settling just below 1.0700 points.


In spite of the fact that Theresa May has indeed announced that the UK is headed for a hard Brexit process, the concerns surrounding this particular occurrence have somewhat diminished, prompting investors to pull out from the USD and onto high-risk areas such as the stock market. The US dollar has since then weakened, and the clarity of the Brexit process has helped in pushing the euro higher. Although the hard Brexit would most probably have an adverse effect on eurozone trades, the renewed clarity of the process has helped placate investors and has created upward support for the EUR/USD pair. The currency pair is now seen to possibly reach the 1.0850 trading region.

There are no major economic readings set to be released today from the eurozone, but the US will be releasing its Core CPI and CPI data during the New York session, and these will be closely monitored by investors since a string of good economic data could increase the chances of a Fed rate hike in the near future.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Jan 19, 2017 9:52 am

USD/JPY Technical Analysis: January 18. 2017


The JPY increased significantly in value against the USD after the majority of investors fled the USD after Donald Trump expressed his concerns that the US dollar might be becoming too strong for the US economy to handle. The US 10-year Treasury Yields plummeted to 2.307% during the early hours of yesterdayís trading session, possibly its lowest intraday levels since November 2016. This has then lended support for the bears of the USD/JPY pair after the currency pair traded at the lower regions of 112.67 points before making a slight recovery.


However, there came a slew of negative US data, such as the New York Empire State Manufacturing Index, which dropped to 6.5% from its previous reading of 9.0%. This reading is indicative of slower business growth in the region for this month. Since the USD/JPY was able to extend over 114.00 points, the currency pair is more than ready to extend sideways. The pairís 4-hour chart shows that its momentum indicator retains its bearish stance and is still within the negative side of the chart, while RSI indicators for the currency pair are pointing to the downside. The 100 SMA for the USD/JPY pair has also lowered significantly.

Support levels for the USD/JPY are expected to manifest at the 112.65 points, while resistance levels could possibly appear once the pair hits 113.35 points.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Jan 19, 2017 10:48 am

AUD/USD Technical Analysis: January 19, 2017


The Australian Dollar presented some optimism compared with its U.S peer that receives support from the dynamic pricing of oil. The awaited data from the labour market is deemed to support the Aussie at the same time.


The tone of the market remains to be positive. The AUD/USD is confined on its 2-week highs near the 0.7550 level. The price hovered around a very tight range and tends to go into a lower position. The 4-hour chart showed the spot stick on top of the moving averages. The 100 and 50-EMAs preserved its bullish tone while 200-EMA is flat. Resistance hit 0.7550 mark, support is found at 0.7500 range.


MACD lied in the same level which confirmed buyerís strength once again. The RSI is currently on the consolidation period and entered the overvalued zone.

Forecasts mentioned for a further short-term downward correction. In case the closing trades are set under 0.7750, the price will impose a sell signal. The possible target of the bears is 0.7500.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Jan 20, 2017 6:09 am

GBP/USD Technical Analysis: January 19, 2017


Hard Brexit issues continued to affect the cable pair. The British currency weakened in spite of the upbeat in the labor market data as the unemployment stat maintained its rate and Claimant Count Change rose.


The sterling is in the red versus its American rival on Wednesday. The GBP/USD climb the edge of the overbought area and pointed downwards amid Asian hours. Sellers take out the 1.2400 level during the morning trades and tested the mark 1.2300 in the EU session. However, the mark stalled the progress of sellers. Having touched the level, the price reduced and stayed on top of the region prior to the onset of NY trading.


According to the 4-hour chart, spot bounced off to 200-EMA. The entire moving averages moved downwards. Resistance highlighted 1.2400 region, support entered 1.2300 area.
The MACD slowed down which favored sellerís strength. RSI kept intact in the overbought zone.

Moreover, the 4-hour chart showed a prevailing bearish tone.The primary target 1.2200 showed some signs as it will be going short followed by †the consolidation phase, the pair is expected to move ahead through 1.2100 handle.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Jan 20, 2017 6:44 am

EUR/USD Technical Analysis: January 19, 2017


The American dollar was able to rub out its losses versus the euro prior to the speech of Yellen yesterday. The greens further acquired some support from the consumer price index of U.S which met the expectations of investors. Moreover, the decision of the ECB about its interest rate will be announced later this day.


The market structure remained †to be bullish on Wednesday. The single European currency executed an upside impulse and return from its weekly high towards 1.0716.
The ongoing rebound is deemed to be corrective during the profit-taking behind the current rally. The EUR/USD retreated under the 1.0700 level amid morning trades on Wednesday and it hovered throughout the level as the EU session took place.


The 4-hour chart shows the price resumed its advancement on top of the moving averages. The 100 and 50-EMAs continued to be bullish while 200-EMA stayed on the neutral position shown in the same time chart. Resistance sits at 1.0700, support lies at 1.0650 region.
The MACD histogram falls which indicate weak position of the buyers. The RSI oscillator kept around the overvalued territory.

The pair is expected to moved near the immediate support 1.0650. In case the level breaks, the support will return to 1.0600. However, the EUR will receive short-term support as much as 1.0500 remained intact.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Jan 20, 2017 8:38 am

USD/CAD Fundamental Analysis: January 19, 2017


The USD/CAD pair was previously situated in a very critical support region and has reverted in the region just below 1.3000 points. The Bank of Canada has already released its statement regarding the central bankís rates, and the bank also held a press conference later in the day. The pairís strong bounce was seen as the US dollar and the Canadian dollar went in highly opposite directions during the previous trading session.


The USD had already regained its lost strength and has exhibited positive activity across the board after Yellen announced that the Fed could possibly go for more rate hikes in the future if the economic data from the US continues to be positive. On the other hand, the Bank of Canada announced that it will be making no changes on its current interest rates. However, the succeeding press conference from BoCís Poloz has made it clear to investors that the Canadian economy has not shown any progress and has instead stayed in the same place. Moreover, Poloze expressed his sentiments regarding a possible trade war under the Trump administration, and this has adversely affected the CAD and has caused the USD/CAD pair to revert back from the 1.3000 trading range and was able to shot up through 1.3100 and even through 1.3200 where it currently sits above as of present time.

Market players are expecting that the USD/CAD pair might be in for a strong uptrend and could possibly reach 1.4000 points. For todayís trading session, Canada will be releasing its Manufacturing Sales data, while US will be releasing its oil inventory data as well as the Unemployment claims data. These are expected to induce volatility in the pair. However, it is highly likely that the USD/CAD pair will be in for an uptrend in the long run.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Jan 24, 2017 6:03 am

USD/ CAD Technical Analysis: January 23, 2017


The USD/CAD pair traded with a bullish tone on Friday. The uptrend reached the 1.3330 level in the beginning of the trading session. Later that day, the buyers were able to surpass the level as it persists to move higher in the mid-European trading session. Yet, it was not able to reach the 1.3400 level as the price withdraw back to 1.3330 losing its momentum during the New York trading session.


The Resistance level is seen at 1.3400 while the support level comes in at 1.3330 level. The Moving Averages broke in the upper channel and the price managed to linger higher for the day as the 20-EMA moves upward. On the other hand, the 100-EMA is moving lower while the 200-EMA moves in a neutral chart. Overall, the MACD histogram implies the buyers leading the market. Moving with it, the RSI was set within the overvalued readings where a new high is still possible.


Both the Retail sales and Consumer Price Index Reports did not meet the expectations of investors. Nevertheless, this has minimal effect to the currency but it is still under pressure despite the strong greenback.


The pair maintained its upward direction from 1.3018 level following the consolidation state of the uptrend at 1.3387 level. A close higher than the 1.3330 level may set it in motion to move towards 1.3400 level and if the pair strongly sets at 1.3400, this indicates the continues uptrend. However, if the market fails to break higher than the 1.3400 level, this would mean a negative outlook to the market.

Overall, the price trend remains bullish ranging from 1.3240 level to 1.3387 level until the next days to come but if the sellers dominate the market, this could move the price towards the 1.3190 mark instead. †If the market is able to maintain the current support level at 1.3240 level, the market could anticipate a continuous uptrend with the next target at 1.3500 level.
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USD/JPY Technical Analysis: January 23, 2017

Post by Andrea ForexMart on Tue Jan 24, 2017 7:45 am

Subsequent to the speech made by Janet Yellen, the US dollar abated. But the greens reversed few of its losses on Friday on the back of the inauguration speech of Donald Trump.
The greenbacks attempted to reach 115.00 barrier amid Asian hours. The bulls pushed the level prior to the onset of the EU trading. The price was unable to maintain its upward impetus and turn back through 115.00 eventually.


The 4-hour chart indicates that the price rebounded to the 50-EMA during the Asian session and it further moved between the 50 and 100-EMAs in the Euro hours. The 100 and 50-EMAs employ a downward trend while 200-EMA was confined in the flat lining. Resistance touched the 116.00 level, support hit 115.00 area.


The MACD histogram arrived in the positive zone and if it hovered on its position, the buyers will strengthened. RSI stayed around the overvalued territory.


The general outlook for the pair remained to be bullish as it rack up through the resistance region 116.00.

The USD/JPY could fail and return to the downside in case the 115.00 handle were unable to support the bullish investors.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Jan 24, 2017 10:32 am

EUR/USD Fundamental Analysis: January 23, 2017


The EUR/USD increased for the past few days following the sluggish stance of the greenbacks. The single European dollar benefited from the position of the greens as it climbs to 1.0700 and further extended its gains. The USD weakened with no definite reason as others deemed for the general correction while some claimed itís all because of the skepticism for Trumpís administration. However, the American currency is clearly at a disadvantage point against the euro.


The EUR is relatively buoyant for the previous week, much more when its U.S peer manifested some strength. The euro continued to bounce back from a limited correction and eventually broke the 1.0700 level, en route 1.0840 region.


There are some issues that the weakness are caused by the speech of Trump coupled with the curtailment for the rest of Obamacare. Moreover, there exist a general risk about the US Presidentís team and their plans and these uncertainties weighed on the USD.


As the last week of January enters, the economic news is lessened while the upcoming is a beginning for the USD towards an unidentified state which brings higher volatility.

The US and Euroregion do not have major reports to be released for today, what we expect is the continuous fall of the greens.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Jan 24, 2017 12:07 pm

GBP/USD Fundamental Analysis: January 24, 2017


Todayís trading session is expected to be very critical for the GBP/USD pair since UK is now awaiting for the release of the countryís SC ruling with regards to its eurozone membership, as well as the Brexit process, which is set to be released during todayís session. The GBP/USD pair has increased in value over the past 24 hours as part of market anticipation, with the currency pair closing yesterdayís session at over 1.2500 points after months of being unable to go over 1.2500 due to repeated pummeling from bears of the said currency. However, since yesterday was a generally good day for the sterling pound, the market is expecting that this currency pair would be able to reach 1.2700 or even 1.2800 in the short-term outlook for the GBP/USD pair.


The UK Supreme Court will be releasing its decision on whether the Article 50 will have to undergo scrutiny from the Parliament or otherwise, since the Article 50 is an essential factor on the carrying out of the Brexit process. The market is generally anticipating that the SC will be approving the Article 50 invocation, and if this does happen, then this will ensure that the whole of the Brexit process will be well-thought of, and this will ensure that equal distribution of ideas instead of the power becoming limited to select people in the government. This is expected to drive up the value of the GBP, but then there are also some risks that the Parliament approval might cause delays in the Brexit process since all views and ideas must be taken into consideration as part of the process.

There are no major news releases from the UK except for the SC ruling for the Brexit process, as well as from the US.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Jan 26, 2017 9:04 am

USD/CAD Fundamental Analysis: January 24, 2017


The USD/CAD pair continues to trade within a tight range and consolidated for the most part of yesterdayís trading sessions. The CAD was recently subject to an increased pressure after the Bank of Canada expressed it plans to implement an interest rate cut in the next few months as a result of the Canadian economy becoming increasingly stagnant after not showing much development in the recent economic readings. This added pressure in the CAD has however helped in offsetting the dollar weakness during the past few days.


The Canadian dollar is probably the only currency which the USD has gained in relation during the past few sessions and has continued to maintain its gains over this currency, while other major currencies have increased in value and has left the dollar behind. The US dollar has been in hot water recently, especially since the market is generally uncertain on Trumpís administration policies and how the newly-minted president plans to run the US economy. The market is constantly kept on its toes as Trump continues to act brash in spite of the initial euphoria during the US elections, where the market had hoped that Trumpís election might be generally be good news for businesses around the world. However, the current administration might have to undergo a lot of work before finally regaining the marketís confidence.

There are no major news releases from both the Canadian and the US economy, and as such, the USD/CAD pair is expected to experience more consolidation and ranging during todayís session. Since the weakness of both currencies are apparently cancelling each other out, the currency pair is unable to make any significant progress and the bulls might have a hard time pushing the currency pair towards 1.3400 points and higher.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Jan 26, 2017 10:33 am

NZD/USD Technical Analysis: January 25, 2017


As the Asian session emerged, the bullish momentum appeared to be short-lived yesterday. The price failed to hold its gains and reversed down from the 0.7250 level. Sellers expanded their profits breaking the price through 0.7200 region amid the EU trades. The selling interest was unable to maintain its position upon reaching the region and endured price rejection upwards.


The NZD/USD is confined on top of the moving averages based on the 4-hour chart. The 100 and 50-EMA kept its bullish stance while 200-EMA was flat. Resistance touched 0.7250 mark, support entered 0.7200 handle.


The MACD tool still presented the same position as buyerís strength continued to grow. The RSI settled close to the oversold readings, confirming another lower trend.

Meanwhile, the 0.7250 barrier is the next bullish target. In case, a return occurred towards 0.7150 there is a probable decline against the 0.7100 support.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Jan 26, 2017 10:56 am

GBP/USD Technical Analysis: January 25, 2017


Traders have locked in few profits prior to the ruling of the UK Supreme Court regarding the EU exit. The court should make a decision if it is required for a Parliament approval in launching the Article 50.


The market structure presented a bullish sentiment on Tuesday. Buyers were unable to regain 1.2500 level and needed to give up the floor to the sellers. A renewed buying interest around the greenbacks had supported the US currency to recover from its recent lows.
Sellers were able to lead the price lower amid Asian session, however, failed to move beyond the lower mark 1.2460 before the onset of the EU hours.


The GBPUSD keep on sliding through the area of 1.2450 before the opening of the New York session. According to the 4-hour chart, the moving averages are trading mixed. The 200-EMA preserved its bearish signal while 100 and 50-EMAs moved higher as the 50- day MA crossed the 100-EMA upwards.


MACD grew less which confirmed growing strength for the sellers. RSI stayed in the overbought area.

A break on top of the 1.2500 mark is the least required point in order to establish a bullish resumption. The most probable scenario is that buyers could take the price through the 1.2540 region and took 1.2600. While a close below the level 1.2400 will lessen the prevailing upward pressure but before reaching this level, a buy signal will be implied.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Jan 31, 2017 9:05 am

EUR/USD †Technical Analysis: January 30, 2017


The European currency slowed down followed by the improvement on the dollarís stance. The euro were left flat-out due to the absence of the market-moving news in the calendar. The EUR resumed to move down smoothly overnight and break away from the near-term rising channel. The euro had traded mixed as the Asian trades opened and hovered in the tight ranges of 1.0650-1.0690.


The EURUSD is confined in the neutral position in the morning EU session and met renewed bids within 1.0700 level. It further rallied around the level, en route 1.0750 prior to the outset of NY hours.


According to the 4-hour chart, the price leads the 50-EMA lower and headed northwards together with the 100-EMa. The spot hovered on top of the 100 and 200-EMAs eventually. Resistance is seen at 1.0750, support hit 1.0700.


The MACD proceeded to the negative zone and if the histogram stayed in this area, the position of the sellers will improve. The RSI lies in the oversold territory near the neutral ground.

A close on top of the 1.0700 mark will produce renewed bullish indicator which is possible to advance towards 1.0750.
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GBP/USD Technical Analysis: January 30, 2017

Post by Andrea ForexMart on Tue Jan 31, 2017 9:57 am

The sterling softened on the back of the demand growth for the greenbacks. The GBPUSD was able to recover few of its losses subsequent to the meeting between Trump and May. †The US data showed some pessimism which further hit the pair higher.


The British currency loses its value against its U.S peer during the night trades on Thursday. The spot was removed from 1.2600 level and placed in 1.2500 region amid Asian session. The pound extends its losses during EU hours, en route 1.2500. However, the level stalled the sellerís progress and kicked the spot higher. The price resumed its development on top of the moving averages as shown in the 4-hour chart while the 100 and 50-EMAs stirred upwards and the 200-EMA sits in the neutral position. Resistance touched 1.2600, support jump in the 1.2500 mark. The MACD histogram weakened which further slowed down buyerís position. The RSI escaped from the overvalued territory and came in through the neutral zone.

The bullish outlook generally exists in the market while the pair got an opportunity to make recovery in case it surpassed 1.2600. A breakout within the 1.2600 handle would direct to 1.2700. Furthermore, the prevailing selling pressure could impact the spot and pushed below the mark 1.2500.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Jan 31, 2017 10:17 am

NZD/USD Technical Analysis: January 30, 2017


The American dollar was able to sustain a bid tone last Friday. Meanwhile, the markets highly anticipated for the further plans of Trump coupled with the GDP of the country for the fourth quarter. The NZDUSD kept intact in the ascending channel pattern on Friday. The price were pushed by the downward impetus toward its lower limit last 26th of January. Moreover, a recovery lasted overnight showed insignificant results. The European traders solely managed to drive the spot upwards


The pair was able †to expand its recovery during the NA session. The price continuously sits on top of the moving averages according to the 4-hour chart. The 100 and 50-EMAs moved †higher while 200-EMA is positioned in the neutral trend mentioned in the similar chart.

Resistance entered 0.7300, support reached the 0.7250 region. The MACD indicator confirmed weak buyerís position as it decreased steadily. Bullish sentiment was likely to prevail for today. The short-term goal for the pair is 0.7311.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Jan 31, 2017 12:01 pm

USD/CAD Fundamental Analysis: January 30, 2017


The USD/CAD pair closed down the week on a much lower note as compared to the previous trading week after the Canadian dollar exhibited strength across the board and the USD weakened in value yet again even though it was able to recover during the latter part of the week. This particular recovery of the US dollar looks like it will be here for the long run, and this is why dollar bulls are putting added confidence to the performance of the US dollar in the next trading sessions. In addition, the Trump administration has already went about making changes and fulfilling its campaign promises, such as the shifts in Obamacare and the Mexican border wall, and the pulling out of US from trading agreements with Canada and other neighboring countries. This has created unrest in the market, and could open the doors for a possible trade war which is very bad news even for the US economy.


This has then prompted the USD/CAD pair to drop significantly in value from 1.3450 to 1.3000 points, but was saved by the sudden surge in the USDís value as the previous week came to a close. The Canadian dollar also received support from the resiliency of oil prices, which managed to stay put in spite of the recent increase in the value of the US dollar. Market players are expecting this uptick in the USD/CAD to continue and could possibly extend up to 1.4000if it manages to stay just above 1.3000 points.

The Canadian GDP will be released this week, and governor Poloz from the Bank of Canada will also be releasing a statement this week. On the other hand, US will be releasing a string of important economic data including the NFP, wage earnings, as well as the statement from the FOMC. These are all expected to induce volatility in the market, and traders should either exercise caution or wait for things to settle before trading with this currency pair.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Feb 01, 2017 11:29 am

USD/JPY Fundamental Analysis: January 31, 2017


The Japanese yen inched higher as opposed to the US dollar as a result of a flight-to-safety trend across the market, which was triggered by investor reactions to a sudden drop in global equity markets. Meanwhile, stocks were sold off as a result of Donald Trumpís immigration ban. The USD/JPY pair closed off the previous trading session at 113.778 after decreasing by -1.10% or 1.269 points.


A lot of investors have sought the protection of the Japanese yen after protectionism concerns arose due to the immigration ban since these could possibly have a negative effect on both exports and imports and could also create substantial risks for the economy. Towards the latter part of yesterdayís session, the Japanese Household Spending data came in with a reading of 0.3%, exceeding market expectations of 0.8% and the previous reading of -1.5%. However, the unemployment rates for the country remain stagnant at 3.1%. Meanwhile, the Bank of Japan chose to maintain its current benchmark interest rates at -0.10%, a move that was generally anticipated by the majority of market players. The central bank also increased its GDP forecast to 1.4% as opposed to its past prediction of 1.0% back in October. In addition, the BoJ also stated that it is expecting an inflation surge of around 2% come the fiscal year 2018.

Interest rate differentials could have a positive effect on the USD/JPY pair since the central bank chose to maintain its interest rates while the Fed hinted at high-frequency rate hikes for 2017. In the short term, the USD/JPY could be driven by volatility coming from the equity markets. However, the dollar-yen relationship could possibly be influenced by the positive interest rate differentials.
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USD/CAD Fundamental Analysis: February 3, 2017

Post by Andrea ForexMart on Fri Feb 03, 2017 10:22 am

The market has been generally expecting the USD/CAD pair to undergo a period of ranging and consolidation as the US prepares to release its NFP report, and this was what happened with this particular currency pair during the past trading sessions. The USD/CAD is currently trading at over 1.3000 and is headed in a generally disappointing trading streak, but then again this region has strong support barriers, and this region might be a good place for traders to go long with a stop loss.


Oil prices have already settled down last month and has exhibited little activity on both directions. As a result, the Canadian dollar was able to obtain some support and the economic data scheduled to be released from Canada are also expected to be generally positive, and there are no major changes expected to occur within the Canadian economy. The drop in the value of the USD/CAD was mainly due to the weakness of the dollar, and once Trump makes major changes in the NAFTA agreement, then the trade relationship between US and Canada could be up for some major adjustments. This has no positive effect on both economies whatsoever, and this uncertainty has been fueling the drop in the value of the currency pair.

There are no major news expected to be released from the Canadian economy today but the market is expecting the release of the NFP report as well as the average earnings data and the non-manufacturing PMI data from the US. If these data comes out as positive, then this could further affirm an interest rate hike from the Fed in the near future, but a weak reading could cause the USD to further decrease in value.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 03, 2017 10:45 am

GBP/USD Fundamental Analysis: February 3, 2017


The GBP/USD pair is currently trading at 1.2500 points after briefly reaching 1.2700 points after traders took sell opportunities every time the GBP/USD exhibited reversions. The Bank of England released its statement yesterday and maintained its current rates as expected, while the monetary policy meetings and inflation reports did not deliver anything significant to the economy and did not induce any market activity. However, these neutral readings had adversely affected the currency pair since the majority of market players were expecting hawkish comments from the BoE as well as from the inflation reports, but since both of these data came out as neutral, the market was generally disappointed and this put a significant amount of downward pressure on the value of the sterling pound. However, it was a good thing that the dollar was weak, since if the dollar were stronger then the pound might sink even lower.

The pound is expected to continue its losing streak, and any reversions are expected to be met with major sell-offs, especially with the oncoming volatility which will be caused by the implementation of the Brexit process. For todayís session, UK will be releasing its services PMI data and US will be releasing its NFP reports and wage earnings data. These string of economic readings set to be released today are expected to increase the pairís volatility. The market is expecting a positive US labor report, and if this happens, then the GBP/USD pair might be able to break through 1.2500 and move further towards 1.2400 points.
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EUR/USD Fundamental Analysis: February 3, 2017

Post by Andrea ForexMart on Fri Feb 03, 2017 11:21 am

The EUR/USD pair has been subject to a lot of messy trading activity during the past trading sessions as the pair had no definite direction and generally exhibited an uncertain trading stance. The currency pair has been vainly trying to break through the 1.0800 trading range and briefly made it through this barrier and even reached up to 1.0828 points but eventually reverted back to its original stance after a massive sell-off met the pair, causing it to fall back to 1.0800 and even went as low as just over 1.0760 points.


Today is the scheduled release date of the NFP report from the US, and the market volatility is expected to surge as this particular report is one of the major economic reports anticipated by the markets every month. The NFP report now is even more crucial than ever, because the Fed has previously stated that the central bank will be relying on positive economic data as basis for whether they will be hiking interest rates in the future or otherwise. In addition, the release of the NFP report is equally important to restore investor and trader confidence in the USD, especially since the past few days has seen the dollar subject to more weakness as Trump drew negative comments from his recently implemented foreign policies such as the immigration ban. This is one of the reasons why the general direction of the EUR/USD remains uncertain since the market wants first to confirm the results of the NFP report before making any concrete moves.


For todayís session, US will be releasing its NFP report as well as the non-manufacturing PMI data and average wage earnings data. Investors are hoping that these economic data comes out as positive in order to induce some strength in the ever-weakening stance of the US dollar.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Feb 06, 2017 12:34 pm

NZD/USD Technical Analysis: February 6, 2017


The Kiwi against greenback declined on Friday's trading session. A strong support was found at 0.7250 level but was able to reverse the trend after forming a bullish candle while the resistance is found at 0.7350 level. If the price breaks higher than the psychological levels which will then result to a decline to the 0.71 level. Traders should expect high volatility in the market. Hence, fluctuations and rough trading for the pair. †
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 07, 2017 5:06 am

USD/CAD Technical Analysis: February 6, 2017

The pair USD/CAD surged on Friday's trading session. It turned around finding a resistance towards the 1.30 level. The price could set into a new fresh low and this could further go down. However, if the price breaks higher than the candle pattern formed on Friday's session, there could be chances for buying opportunities. Traders should monitor the oil market as it has an influence to the Canadian dollar that usually affects the price inversely for the pair. †
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EUR/USD Fundamental Analysis: February 6, 2017

Post by Andrea ForexMart on Tue Feb 07, 2017 6:27 am

The EUR/USD pair will undergo pressure this week. Moreover, the NFP report was positive as the average earnings positioned at 0.1% lower than the expected 0.3%. When at first, it is expected for the bulls to take over the market but the trend doesn't have enough momentum bringing the price towards the 1.0800 as a resistance level which was the prior region. The greenback is being swayed because of the uncertainty from Trump and his team to change the policies and cannot be determined the next move of Euro.


The current psychological level at 1.0800 is a significant region and a break in this region could further bring the price towards the 1.12 mark which has been the region for some time last week. The market is trying to break the EUR/USD in the midst of the weakened dollar. At the same time, the market aims to stabilize the current rates but there were not enough support from the administration and economic policy changes and the reports of the economic data.


Although, a majority of the support for the currency supported from the economic data or the administration and at the same time influence the next Fed rate hike. However, it seems that the wage earnings reports are on the lows which could delay the rate hike process. This would put more pressure to the dollar today and this whole week and it is still uncertain until when the dollar rates would hold.

As for today, there will be no major economic news from the Euro or from U.S. regions. It is expected for the price to EUR/USD to remain in consolidation with a bullish bias †with chances of a breakout near the 1.0800 level.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 07, 2017 8:48 am

USD/JPY Fundamental Analysis: February 6, 2017


The USD/JPY pair attempted to rally several times during the past week due to the positive feel of the US equity markets as well as its effect on the US carry trade but there was a shortage of buyers which could have fueled an upside follow-through. The USD/JPY pair finished the previous trading session at 112.551 points after dropping by -2.17% or 2.496 points. This movement in the currency pair was largely due to Trumpís comments in the past week as well as statements coming from both the Fed and the BoJ.


The FOMC maintained its current rates last week at 0.50%-0.75% and was generally expected by the majority of market players, but the bearish tone of the USD/JPY pair was also largely influenced by the Fedís refusal to give out hints with regards to its next interest rate hike.

There are no major news releases coming from either Japan or US for this week, and this means that the market will be affected by events that will have a bearing on the current stance of the US dollar. Currently, Trump is aiming for a weaker USD value in order for him to upgrade his statements with regards to currency devaluations and other unfair trade policies. The charts are indicating that the USD/JPY pair could possibly rise up to 109.919 points if sellers of the pair would be able to put enough pressure on the market to march through 112.00 points.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 10, 2017 8:11 am

EUR/USD Fundamental Analysis: February 8, 2017


The market has been experiencing a lot of volatility recently due to the pronounced weakness of most major currencies, with traders having a hard time picking out definite directions, with profits going from positive to negative in just a matter of minutes. During yesterdayís session, the USD was able to regain the majority of losses against the EUR, with the EUR/USD pair falling down to 1.0700 points. For a brief moment it looked like that this particular stance of the currency pair would remain standing and would eventually become overpowered by the dollarís strength but the following day saw the dollar losing its ground and dropping back to its previous lows. There is basically a surrounding fear and marked uncertainty felt within the market right now that all currencies are very weak, which has resulted in this very rare price action.

There are no major news data expected to be released from either the European Union or the US today, and this means more ranging and consolidation activity for the EUR/USD pair. This is generally okay for day traders but could spell disaster for long-term traders as they become hard pressed to find direction in this very chaotic market environment.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 10, 2017 10:36 am

USD/CAD Technical Analysis: February 8, 2017


The decline in crude oil prices weighed on the Canadian dollar while the stronger US dollar added pressure to push the loonie downwards.


The USDCAD resumed a short-term uptrend on Tuesday. Moreover, the USD came in green against its Canadian peer. The spot gradually increased overnight reaching 1.3120 level prior to opening of the European session. There is a renewed buying pressure within the greens which supported the pair towards its fresh highs. The price spiked and touched 1.3190 region in the post-EU open.


The barrier restricted its developement as it holds the major enclosed the region. The price drove the 100 and 50-EMAs higher as shown in the 4-hour chart. The pair nearly reached the 200-EMA which became the resistance. Furthermore, the 50 and 100 EMAs shifted to an upward trend while 200-EMA headed lower. Resistance entered 1.3190 area, support holds 1.3120 handle.


The MACD approached the positive territory, preserving this area would mean a stronger stance for the buyers. RSI hovered around the overvalued range indicating another upward trajectory.

It is projected that a near-term bullish momentum will return. In order to resumed this bullishness, the pair should focus on top of 1.3190 mark.
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USD/CAD Fundamental Analysis: February 9, 2017

Post by Andrea ForexMart on Fri Feb 10, 2017 11:26 am

The USD/CAD pair is still trapped within a tight trading range, however the currency pairís bulls are fairly satisfied with the USD/CADís performance as the currency pair is still relatively strong in spite of the dollar weakness, and once the dollar regains its strength, then this will mean very good news for the pairís bulls. The USD/CAD pair has recently undergone a very stressful period due to the dollar weakness combined with a surge in oil prices which has helped the Canadian dollar keep its head above water.


As the week unfurled, the market has seen oil prices being subject to tremendous pressure and corrections, thereby putting added pressure on the value of the CAD. This is why the Canadian dollar started losing some of its value at the beginning of the week and has provided support for the USD/CAD bulls. Strengthening the currency pair and revert back from its support barrier of 1.3000, with the USD/CAD currently trading at just under 1.3200 points. The pair is expected to continue its upward trend and would only go in for a trend reversal once it manages to break through 1.3000 points. Until then, the USD/CAD would probably exhibit reversions from its lows and the bulls would still be dominating the currency pair, with a medium-term target of 1.4000 points.

There are no major news scheduled to be released from the Canadian economy today but we do have the unemployment claims data from the US, as well as comments from some Fed officials. However, these are not expected to make a significant dent in the pairís current stance and the pair is expected to consolidate at 1.3200 for the rest of todayís sessions.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 10, 2017 12:06 pm

EUR/USD Fundamental Analysis: February 9, 2017


The EUR/USD pair failed to make significant progress during the previous trading session and merely continued its current trend of ranging and consolidation and still failed to find a definite direction and was still unable to capitalize on the USDís marked weakness. The currency pair has been finding difficulty with regards to breaking through the 1.0705 barrier, which has boded well for the US dollar in spite of its lack of progress. Under wholly different circumstances, this particular situation might have caused the dollar to undergo massive corrections but since other other major currencies have been trading on the weaker side of the chart as well, the USD has only managed to keep itself floating amidst the market weakness.


For the past few trading sessions, the euro has been consistently exhibiting a weak trading stance, which was mostly due to various uncertainties and concerns surrounding the European Union. There are now a lot of rumors swirling around whether the EU would still exist after a few years and whether the Brexit phenomenon would be repeated by other countries who would wish to leave the EU. Although a lot of eurozone leaders have attempted to pacify these rumors, this has nonetheless left an effect on the state of the EUR. The forthcoming French and German elections is also a cause of concern for the market since there are strong contenders who are in favor of leaving the union should they win the said elections. All of these factors are putting constant downward pressure on the euro, therefore preventing the currency to make any substantial progress.

US will be releasing its unemployment claims data today and some Fed officials are due to make statements at various forums, and these events are expected to induce volatility in an otherwise very docile currency market.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 14, 2017 7:57 am

EUR/USD Technical Analysis: February 13, 2017


Non-Farm Payrolls in France came in positive but the single European currency ignored these strong data. The euro was kept intact in the pressured area on the back of the increasing political instability relative to Franceís Presidential election. Moreover, the imminent vote-casting within Germany, Italy, and Netherlands brought added pressure against the EUR. Meanwhile, the US dollar demand was supported by the tax reform proposal by Trump.


The greenbacks further strengthened on Friday while the euro weakened after a clear recovery at night amid EU session.


Traders surpass the 1.0650 level and drove the price downwards during the New York trades. The EUR/USD pushed the 200-day moving averages as shown in the 4-hour chart. The 100 and 50-EMAs were bearish-neutral while 200-EMA manifested a bullish bias in the aforesaid timeframe. Resistance is seen at 1.0650 region, support touched 1.0600 handle.

MACD indicator softened implying a sell signal. RSI is confined in the oversold territory, indicating a downtrend. Another lower movement is expected, reaching the 1.0600 mark. A close below the support region is possible to provide further weakening through 1.0550.
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