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Daily Market Analysis from ForexMart

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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 14, 2017 9:07 am

GBP/USD Technical Analysis: February 13, 2017


The figures for the United Kingdom Industrial Production exceeded the expected results which further give a temporary support for the British currency. Nevertheless, the recovery of the greens is wide-ranging causing the GBPUSD to conduct a reversal.


The sterling preserved its neutral stance amid Asian session on Friday. The spot hovered on top of 1.2500 close to the handle.


Traders were able to surpass the region after the EU hours and continued to push the spot through 1.2450 area.


The 4-hour chart presented that the price drove 100 and 50-EMAs towards a lower point. The 50 and 200-EMAs seem neutral while the 100-day moving averages descended as seen in the aforesaid chart. Resistance touched 1.2500 mark, support lies at 1.2400.

MACD is placed in the centerline. An entry within the positive zone will provide added strength for the buyers while an attempt towards the negative territory will allow sellers to take over the market. The RSI stayed in the neutral region. Either a move lower than 1.2500 would help produce an opportunity to test 1.2400.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 14, 2017 9:53 am

USD/CAD Technical Analysis: February 13, 2017


The USDCAD was neutral amid Friday night trades. The Asian recovery slowed down overhead the level 1.3120. The greens tried to resume its gains but attempts failed. Renewed selling pressure affected the spot rebounding the price lower than 1.3120 during afternoon session.


The USD fall behind 1.3050 level prior to the opening of the New York hours.
According to the 4-hour chart, the rebounded the 50-EMA lower and tested the 100-day moving averages. The pair is confined under the 200 and 100-EMA throughout the day. The 100 and 50-EMAs is neutralize while 200-EMA moved lower as shown in the same timeframe.
Resistance is at 1.3120, support entered 1.3050 region. The MACD histogram decreased which implied weak position for the buyers. RSI is confined in the overvalued territory near the neutral zone.

Bearish sentiment is expected to prevail. If the commodity-linked pair remained on top of the 1.3120 mark, sell order will be posted. The next possible target of the sellers is 1.3050.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 14, 2017 10:35 am

EUR/USD Fundamental Analysis: February 14, 2017


The strength of the USD is now felt more than ever in the market, and this has caused other major currencies to experience the negative effects of the surge in the dollarís value. For the EUR/USD pair, the currency pair has dropped to 1.0600 points and was only able to prevent itself from further decreasing due to its support barrier of 1.0580 points. However, the pairís price activity looks very dismal and it is uncertain how long the bulls would be able to keep its hold on the pair before the bears manage to seize control and push the pair further downward. If this happens, then this could spell disaster for the euro.


The market is now able to fully adjust to Trumpís policies after an initial unrest caused by his teamís adjustments to certain regulations, with the market now sure of the administrationís approach with regards to policies, thereby improving investor confidence in the US dollar. This has helped to shift the marketís focus from the Fedís future moves and Trumpís future implementations as well, and this has further helped to support the USD especially now that the Federal Reserve is keen on sticking to its statement that there will be a total of three interest rate hikes for this year.

The US will be releasing its PPI data today, and Fed chair Yellen will be making statements with regards to the central bankís monetary policies during todayís speech in the New York session. The market will be monitoring Yellenís speech later today and if Yellen becomes consistently bullish in her remarks, then the euro could be in for more price drops.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 17, 2017 5:26 am

AUD/USD Technical Analysis: February 16, 2017


The Australian dollar against the U.S. dollar declined on Wednesday's trading session but was able to recover after a break out reaching a new high. It broke higher than the 0.7695 Resistance level and proceed with the upward momentum after lows at 0.7159 level. It is expected for the price to go higher in the next trading sessions towards the next target at 0.7800 zone. The key support is found at 0.7605 level and a break lower than the said level would complete the uptrend of the pair.

The market could try to move towards the 0.7750 level that is found to be a resistance level for the long-term charts. Short term reversals are eminent to be become buying opportunities to be forward implying a purchase after decline may not be favorable for short-term charts. Most likely, the 0.76 level will continue to be a strong psychological level in the market.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 21, 2017 5:24 am

EUR/USD Technical Analysis: February 20, 2017


The U.S. dollar weakened on Friday despite the light market caused by the federal holiday, †US President's Day. Investorís attention was drawn towards the nationís current political condition while expecting for the final resolution regarding the financial assistance to Greece.


The upward trajectory weakened on Friday. The single European currency failed to break the 1.0680 region and reverse.


During the Asian hours, the market is relatively quiet and exhibit further agility amid EU session. The demand for the greens was brought by some European traders which drove the spot downwards. The EUR steeply declined and tested 1.0650 mark during the post opening of EU trades. The aforesaid mark stalled the sellersí action, therefore, rejected the EURUSD higher.


The pair surpasses the 200-EMA lower, rebounded the 100-EMA and tested the 50-EMA.


Moreover, the 100 and 50-EMAs headed downwards and the 200-day moving averages appeared to be bullish-neutral. Resistance lies at 1.0700, support is seen at 1.0650.


The MACD indicator plunged to the positive territory and if it hovered within that area, the position of the buyers will reinforce. RSI is confined in the overvalued zone, favoring another downward trend.

The major struggled to proceed upwards. A break under 1.0600 region would consider further instability to 1.0550. Should the level jump up would signal an opportunity to buy on a dip.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 21, 2017 6:17 am

GBP/USD Technical Analysis: February 20, 2017


The technical pictures the GBPUSD to hover around the trading range of the previous week. The cable came across with a wave of selling pressure after the failure of the spot in reacquiring the psychological mark 1.2500.


The British currency weakened to 1.2500 amid Asian hours and touched 1.2400 level overnight. The level prevents its losses which rejected the price higher. The pair pushed the 50-EMA lower, tested the 200-EMA and rebounded the 100-day moving averages as shown in the 4-hour chart.


Furthermore, the 200-EMA seems bullish-neutral while the 50 and 100-EMA are neutralized. Resistance settled at 1.2500, support entered 1.2400 area.


The MACD sits in the center point. Should the histogram move near the positive zone to provide further strength for the buyers. While an entry towards the negative territory will imply sellers capacity to manage the market. RSI departed from the neutral zone and advance south.
The technicals manifested a moderate bearish signal. We projected the major will proceed towards 1.2400 and the price might decline to 1.2340 after reaching the initial target.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 21, 2017 7:23 am

NZD/USD Technical Analysis: February 20, 2017


The NZDUSD were kept below the pressured area and resumed its decline under the 0.7200 level on Friday. Having broke the level, sellers weakened and took a pause to regain some steam attempting to make another move downwards.


The major rebounded the 50-EMA towards a lower point as indicated in the 4-hour chart. The spot extended its development in the middle of 200 and 50-EMAs. The 50-EMA is trending lower, 100-EMA was neutralized and the 200-EMA moved higher. Resistance is at 0.7200, support lies at 0.7150.


MACD histogram lies at the center point. If the indicator approaches the positive zone, it will provide added strength for the buyers. While an entry in the negative territory will open an opportunity for the sellers to dominate the market. RSI escaped from the overvalued area and settled around the neutral region. Should the spot surpass the 0.7200 mark higher, will negate the medium-term negative outlook.

The bulls are able to drive the pair to 0.7250 handle. While a decline under 0.7150 will cause the support the sellers having a chance to continue its slide through 0.7100.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 21, 2017 10:48 am

EUR/USD Fundamental Analysis: February 20, 2017


The EUR/USD pair was subject to some nice amounts of volatility during the past week after the currency pair was mainly influenced by the dollar strength during the first half of the week, but immediately went into reversal as the latter part of the week started. The currency pair is now expected to consolidate with a bullish undertone for this week, with projected support levels at 1.0500 points and resistance levels expected to be at 1.0800 points.


Last week, the EUR/USD finally looked like it turned for the better as the currency pair made a steady march towards 1.0500 after breaking through 1.0600 after a foreshadowing of a long-awaited dollar uptrend. This was also further supported by Yellenís confirmation that the Fed will be implementing another rate hike this coming March. However, the effect of this positive news was offset by the release of the CPI data which showed weak wages data in spite of the overall data being highly positive. This turned out to be unappealing for the dollar bulls and caused the USDís strength to die down, causing the pair to end at just over 1.0600 points.

For this week, there will be a US market holiday and there are no expected data to come out from both the EU and the US for the week. The EUR/USD pair will most likely continue its current trend of ranging and consolidating for this week.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 24, 2017 9:04 am

USD/CAD Fundamental Analysis: February 22, 2017


The USD/CAD has still managed to keep itself afloat in spite of a small increase in oil prices during the previous trading session. The currency pair continued to trade within its ranges, but this could be a cause for celebration of the pairís bulls as the USD/CAD traded within its range highs with no hints of weakness whatsoever. This movement was also partly due to the recent surge in the dollarís value which ensured support for the pairís bulls.


As of this morning, the USD/CAD has somewhat weakened in stance and spent most of the session consolidating within its range highs with no actual direction. The USD/CAD bulls are now monitoring the release of the FOMC minutes, whose hawkish outlook might possibly lend some much-needed support for the pair and finally create some sense of direction. If the minutes are able to meet market expectations, then the USD/CAD pair could possibly move towards 1.3200 and could even go beyond this range.

For todayís session, we have the FOMC meeting minutes set to be released as well as the release of the US housing data. Meanwhile, the Canadian economy will be releasing its core retail sales data which will have to be closely watched by the USD/CAD bears in order for them to regain dominance over the currency pair.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 24, 2017 10:48 am

GBP/USD Fundamental Analysis: February 22, 2017


The GBP/USD pair continues to trade very well during the past trading sessions in spite of the US dollar regaining the majority of its losses. The GBP/USD pair remains to be one of the most resilient currency pairs, with the pair even bouncing back significantly as the dollar exhibited weakness and managing to hold on its own once the USD strengthened.


However, it is important to note that in spite of its relative strength, the GBP/USD pair is still trading within a very wide range of 400-500 pips, with the pair consistently trading within this range and not going much further. However, as the Brexit process starts to unfold and with the forthcoming invocation of Article 50, the pair might be in for some added volatility in the coming weeks. But it still remains to be seen whether the pair will be able to finally surpass its current ranges and record some significant change in trend.

UK will be releasing its second GDP estimate today which is expected to give the market an inkling of the current state of the UK economy. The GDP estimate would most likely come out as somewhat positive since the economic state of the country has been well during the past periods. The FOMC minutes will also be released later today, and this is expected to be an indicator of the GBP/USD pairís short-term trend. If the market expectations with regards to the FOMC minutes is met, then the currency pair could possibly revert back to 1.2400 points.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Feb 24, 2017 11:09 am

NZD/USD Technical Analysis: February 23, 2017


An objective trend seems bearish. The New Zealand dollar resumed its reversal on Tuesday regaining greater portion of its previous losses. The price halted on top of the 0.7150 level as it trade in a tight range yesterday.


The spot remained unsteady near its fresh highs throughout the day. As shown in the 4-hour chart, the 50-EMA made a downward crossover to 200-EMA whilst the price resumed its development on the lower area of the moving averages. Moreover, the 50 and 100-EMA drove downwards while 200-EMA preserved a bullish pattern. Resistance pierced 0.7200, support plunge in at 0.7150.


The MACD indicator had a dip confirming addition strength for the seller. RSI hovered around the neutral zone.

The price met a support within 0.7150 loss and stalled †through 0.7100.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Feb 27, 2017 10:56 am

EUR/USD Technical Analysis: February 27, 2017


The EURUSD pair strengthened versus the sluggish U.S dollar. The greenbacks were kept below the pressured area during the mid-week of trading following the FOMC minutes and the comments made by †Finance Minister Steven Mnuchin regarding tax reform.


The growth gained by the pair did not help the major and further hovered around the descending channel. The buyers lead the price towards its upper limit. The recovery sustained overnight tried to move in the underside of the 1.0600 hurdle during the morning trades of the EU session.


The upside of the pair lost its steam in searching for renewed offers within the level. Buyers attempted to make a gap on top of 1.0600 prior the opening of the New York trades. Moreover, the price surpassed the 50-EMA and continued to stay over the moving averages as outlined in the 4-hour chart. The 100-EMA carried a downward crossover through the 200-EMA. The 50 and 100-EMAs headed lower and the 200-EMA bounced along the neutral zone.
Resistance is at 1.0650 region, support settled in the 1.0600 mark. The MACD histogram acquired growth which signaled weak stance of the sellers. RSI is considered neutral.

A trend above the 1.0600 range indicates support buyers in sending the market through 1.0630 Ė 1.0650. Likewise, a return to the 1.0550 mark may open doors to move near 1.0500.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Feb 27, 2017 11:51 am

GBP/USD Technical Analysis: February 27, 2017


The British currency preserved a bid tone close to its recent highs. The sterling gained strength following the favorable results for the BBA Mortgage Approvals along with the USD retracement.


The GBPUSD lacks momentum and failed to touch resistance region 1.2600. The bulls stalled near the 1.2565 level due to failure in driving the spot upwards. The pair is confined in a tight range around 50 pips amid the European trades. A bout of renewed selling interest developed amid EU morning trades.


The Cable weakened versus the greenbacks moving near 1.2500 area. The GBP/USD bounced back from the 200-EMA and surpassed the 50 and 100-EMA higher viewed in the 4-hour chart. †The GBP resumed its development over the moving averages. The 200 and 50-EMA directed higher while the 100-EMA preserved a bearish pattern indicated in the same chart. Resistance is set at 1.2600, support pierced the 1.2500 mark.


The MACD indicator increased which confirmed strength for the buyers. RSI weakened and descended.

Bullish sentiment would likely prevail. A trend on top of 1.2550 would restore the bullish tone through 1.2600 Ė 1.2650.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 28, 2017 7:22 am

AUD/USD Technical Analysis: February 27, 2017


The Australian currency declined following the announcement made †by the RBA Governor, Philip Lowe confirming that the Central Bank will not approve for an interest rate hike in the near future. Regardless of the positive trend in general, bulls were unable to climb higher.


Having posted its recent highs within the 0.7739 region, the price weakened and turned back towards 0.7700 where sustained a consolidated position throughout the night trades.
The increasing demand for the US dollar caused the Aussie to break under 0.7700 driving the AUD to 0.7650.


The 50-EMA was being tested by the price as indicated in the 4-hour chart. The 50, 100 and 200 moving averages moved upwards. Resistance is shown at 0.7700, support is found at 0.7650. MACD decreased indicating a sell signal. The RSI appeared to be neutral.


The AUDUSD pair is required to beef up and take a grasp into the 0.7700 level as a means of strength recovery. The recent weakness is regarded as corrective. There is a chance to buy the dips.

A break under 0.7650 will ease the movement of the upward pressure. A move on the underside of 0.7550 will neutralize the buying pressure and open possibility for further weakening.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Feb 28, 2017 12:34 pm

EUR/USD Fundamental Analysis: February 28, 2017


The market saw a very dismal durable goods data reading while Trump continues to further delay his long-awaited tax cut policies, thereby contributing to the further dwindling of the value of the US dollar. As a reaction to this particular phenomenon, the EUR/USD pair was able to reach 1.0630 points in a matter of a few hours and seems poised to move further.


However, the US dollar suddenly reverted its losses for no apparent reason at all and this caused the EUR/USD to drop further to 1.0600 before settling at just over 1.0580 points. Some market analysts are crediting this sudden surge in the dollarís value to Trumpís previous statements regarding the infrastructure increases, a favorite campaign topic of Trump during his candidacy. Previously, there have been rumors swirling around that this infrastructure policies would not come into effect until 2018, but since Trump has already re-discussed this particular proposal, the market has since then been speculating that the increase might be implemented within the year which could help in keeping the buoyancy of the market. The USD has been able to revert its losses as a result but the real determinant here would be the rate statement next month as well as the FOMC rates.


Now that the market is slowly shifting its focus from Trumpís policies towards the move of the Federal Reserve, it is highly likely that the marketís movements will be relying on the Fedís decision on when they will be implementing the next rate hike.

There are no major releases coming from the eurozone today but the US will be releasing its consumer spending data as well as its Preliminary GDP data today which could bring in added volatility to the USD and affect the EUR/USD pair. The currency pair is expected to continue consolidating with bullish undertones for today.
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EUR/USD Fundamental Analysis: February 28, 2017

Post by Andrea ForexMart on Tue Feb 28, 2017 12:35 pm

The market saw a very dismal durable goods data reading while Trump continues to further delay his long-awaited tax cut policies, thereby contributing to the further dwindling of the value of the US dollar. As a reaction to this particular phenomenon, the EUR/USD pair was able to reach 1.0630 points in a matter of a few hours and seems poised to move further.


However, the US dollar suddenly reverted its losses for no apparent reason at all and this caused the EUR/USD to drop further to 1.0600 before settling at just over 1.0580 points. Some market analysts are crediting this sudden surge in the dollarís value to Trumpís previous statements regarding the infrastructure increases, a favorite campaign topic of Trump during his candidacy. Previously, there have been rumors swirling around that this infrastructure policies would not come into effect until 2018, but since Trump has already re-discussed this particular proposal, the market has since then been speculating that the increase might be implemented within the year which could help in keeping the buoyancy of the market. The USD has been able to revert its losses as a result but the real determinant here would be the rate statement next month as well as the FOMC rates.


Now that the market is slowly shifting its focus from Trumpís policies towards the move of the Federal Reserve, it is highly likely that the marketís movements will be relying on the Fedís decision on when they will be implementing the next rate hike.

There are no major releases coming from the eurozone today but the US will be releasing its consumer spending data as well as its Preliminary GDP data today which could bring in added volatility to the USD and affect the EUR/USD pair. The currency pair is expected to continue consolidating with bullish undertones for today.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 01, 2017 7:14 am

USD/CAD Fundamental Analysis: February 28, 2017


The USD/CAD had a strong bullish trade during the previous session after the bulls were able to regain its dominance over this particular currency pair. The bulls had previously attempted last week to gain control over the pair after the release of a dismal retail sales data from the Canadian economy but was eventually unable to do so after the release of a very strong CPI data. The bulls had also attempted to break through yesterday but has failed from last weekís range highs.


The currency pairís strong resistance and support barriers of 1.3060 and 1.3000 respectively has led the market to believe that the USD/CAD pair is in for some major uptrend and is evident of the importance of the support barrier with regards to the struggle between the pairís bulls and bears. Since the bears have constantly failed to break through this pair, the pairís bears are currently in full dominance of the USD/CAD. The USD/CAD was previously consolidating within the 1.3100 barrier but a surge in the value of the USD helped in boosting the currency pair followingís Trumpís statement that he will be adding up the countryís infrastructure spending. The pair eventually increased in value after oil prices somewhat dropped in value.


This drop in oil prices could cause trouble for the USD/CAD pair in the short and medium term since Canada is very reliant on oil prices. The pairís bears could become seriously affected once the dollar strength and weak oil prices come together since this could trigger the pair to move significantly upwards.

There are no major news coming from the Canadian economy today but the pair could get some volatility from the US consumer confidence data and Preliminary GDP which will be released today. The USD/CAD could possibly consolidate within 1.3100-1.3200 points with a bullish undertone.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 01, 2017 9:49 am

GBP/USD Fundamental Analysis: February 28, 2017


The GBP/USD took a heavy hitting during the previous session as the pairís bulls were unable to create a continuously good run for the pair since every time a bounce in the pair manifests, the pair immediately drops as it is met with major selloffs. There are still overshadowing concerns with the currency pair since the Brexit process is still ongoing, and this ensures that the GBP/USD pair will be unable to go higher for quite some time.


The GBP/USD pair was hit even more harder yesterday after rumors that Scotland is currently planning to implement another referendum in their favor in order to discern whether it would still be beneficial for them to continue becoming part of the UK. If this happens, then this would be disastrous for the UK economy since other parts of the UK might also be encouraged to do the same. This is probably the worst that could happen to the UK, especially since Scotland had initially voted to remain part of the European Union but was outvoted by the majority of UK members. But then further confirmation of this particular rumor never happened, and this caused the GBP/USD pair to bounce back from 1.2400 and is currently trading at just under 1.2450 points.

There are no major news releases expected from the UK today but the US will be releasing its Preliminary GDP data and consumer confidence data. The currency pair would most likely remain under pressure for today, with the 1.2500 barrier presenting a possibly limit to any kind of uptrend in the pair.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Mar 02, 2017 7:18 am

EUR/USD Technical Analysis: March 1, 2017


The consumer price index of France inched up, however, it was unable to meet the projected level. While Italyís rate of inflation remained consistent despite the forecasts about its potential decline. Moreover, the jobless rate in Germany is expected to decrease as mentioned by analysts and the Germanís Manufacturing Purchasing Managers' Index is assumed to remain steady.


The single currency was not able to make some reversal on Monday. Buyers touched the 1.0631 region by which the spot eyed some renewed offers. The price turned back under the 1.0600 level and posted its session lows near 1.0567 area amid Asian session.


The EURUSD attempted to break the barrier in the European hours. The EUR made a slight recovery few of its losses during the night upon approaching 1.0600 in the mid-EU trades.
The price is close to the 50-EMA as it positioned in the neutral zone during the earlier trading while the 100-EMA preserved a bearish pattern and the 200-EMA drove downwards.
Resistance settled at 1.0600, support plunge towards 1.0550.


The MACD is situated at the centerline. When the indicator pierced the positive region, the strength of the buyers will grow while an entry in the negative territory will signal sellers to dominate the market. The RSI appeared to be neutral.

Furthermore, bullish momentum is possible to reclaim. The next target of the pair is 1.0630. The EUR/USD may resume its ascending movement to 1.0650.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Mar 03, 2017 10:48 am

GBP/USD Fundamental Analysis: March 3, 2017


The GBP/USD pair has been nursing its wounds during the past trading session as the currency pair is still at a loss on what it needs to do in order to propel its value higher up the chart. The sterling pound has been experience a lot of pressure this week, with the shadows of the ongoing Brexit process hanging over the currency, especially since it is still uncertain whether the impending talks between EU and UK leaders would go smoothly or otherwise. The invocation of Article 50 is drawing nearer and once the line is drawn, there will be no returning for both the European Union and the UK.


In addition to the pressure brought about by the Brexit, there have been also additional concerns that Scotland is planning to relieve itself from the UK, and though this has been nothing more than a rumor, it does not look like itís going to die down any soon, and the USD is also undergoing a consistent rallying streak, another cause of trouble for the GBP/USD pair. The main reason behind the dollar strength is that the market is slowly getting used to Trumpís various eccentricities, and the Federal Reserve has also become increasingly hawkish, thereby cementing speculations that an interest rate hike is in the works.

The GBP/USD pair is expected to remain under pressure during todayís session. The UK is scheduled to release its services PMI data today but the marketís main focus would be Yellenís speech at the New York session. The market will be monitoring whether Yellen will be giving out indications of a March rate hike, and if this is the case, then the dollar would possibly continue rallying and send the GBP/USD pair towards 1.2200 points.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Mar 07, 2017 9:40 am

USD/CAD Technical Analysis: March 6, 2017


The US dollar made some minor adjustments on Fridays as it moves close to its seven-week high versus other majors. The growing expectations of US rate increase within this month provided support for the greenbacks. The focus was turned to the testimony of Fed Chair Janet Yellen. Moreover, the greens were able to maintain its winning position on Friday.
The major came in green posting renewed highs during the onset of EU session.


Buyers demonstrated an active movement this morning subsequent to the flat Asian trading as they drove the price upwards and gapped the level 1.3400. The USDCAD preserved a bid tone, touching its renewed highs eventually.


The 4-hour chart presented the price extend its development on top of the moving averages while the MAs sustained a bullish pattern. The 100 and 50-EMA executed an upward crossover towards the 200-EMA. Resistance is at 1.3470, support entered 1.3400.


The MACD increased which confirmed a buy signal. RSI have seen consolidated around the positive readings.

In case that buyers dominate the market, the next target is 1.3470. In turn, the USD would likely pull back near 1.3330 mark.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Mar 07, 2017 11:23 am

GBP/USD Technical Analysis: March 6, 2017


The downbeat data of UK non-manufacturing PMI coupled with the growing expectation for the rate increase in US occurred on the back of British currencyís 6-week low recovery versus the greenbacks. Moreover, the sterling resumed its period of consolidation during the Asian trades took place on Friday. The price traded range-bound lower in a tight range of 50 pips. The sellers were able to push the GBP towards 1.2200 as it became active throughout the morning EU trades.


The 4-hour chart continued its development under the moving averages while the 50, 100 and 200-EMAs drove lower. Meanwhile, the 100 and 50-EMA made a downward crossover to the 200-EMA. Resistance is seen at 1.2300, support highlighted 1.2200.


The MACD histogram weakened which indicates sellerís strength. RSI came in the oversold territory, en route south.

Technicals are expected to support a downward extension to 1.2200 level. The final break would suggest further weakness at 1.2150 region. The possible minor correction still predicted to happen if the spot appeared to be oversold. In order to ease the downward pressure, buyers may push the price through the mark 1.2300.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Mar 07, 2017 11:49 am

EUR/USD Technical Analysis: March 7, 2017


The common European currency strengthened on the back of the dollar retracement since investors did some profit-taking subsequent to the rally that occurred last week. The greenbacks continued to gain strength amid growing expectations about rate hike in line with the Fed meeting scheduled on March 14-15. All eyes are now turned to French presidential elections.


The EURUSD stayed in a downward channel yesterday. Failure to break beyond the level 1.0550 would pull back some buying interest which could lead the spot upwards. Meanwhile, a soft tone near the USD provided an opportunity for Euroís recovery.


The EUR have rallied into certain regions till it touched the upper limit of 1.0650 range. The barrier stalled bullís activity as they initiated period of consolidation. The renewed selling pressure crop up during the late of Europe and push the major below the marks 1.0600 to 1.0580.
As outlined in the 4-hour chart, the 100-EMA were being tested by euro in the morning.
Moreover, the 100-EMA moved lower while the 50-EMA headed upwards and the 200-EMA maintained a mild bearish tone. Resistance lies at 1.0600, support entered 1.0550.


The MACD decreased confirming a sell signal. RSI oscillator is confined in the oversold readings and favoring a downtrend.

Maintaining a level under 1.0600 may regain the 1.0550 support level.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 08, 2017 11:19 am

EUR/USD Fundamental Analysis: March 8, 2017


The EUR/USD pair continued with its ranging and consolidation movement for the second consecutive day, with this current trend expected to continue for the subsequent trading session as well. There are no major economic news releases happening within the international market which might influence the movement of the EUR/USD pair, and this is why the market has been incessantly seeing this ranging and consolidation.


However, this particular movement coming from the currency pair is also part of the pairís preparation for the onslaught of important economic data which are expected to be released in the middle of this week, especially since these economic data would most likely induce a lot of unprecedented volatility in the EUR/USD pair. So until these data gets released in the market, it is highly likely that the currency pair would continue consolidating. The USD experienced some minor corrections throughout the course of yesterdayís trading session, and this has become evident in the state of the EUR/USD pair after the currency pair dropped slightly in value and is now trading at just over 1.0550 points. The pair is expected to maintain its hold on this particular barrier as more buys are expected to come in at this region. This could also cause the currency pair to move towards 1.0600 points and will continue consolidating for the rest of the trading session.

There are no major news releases expected from the European Union for today but the US will be releasing its ADP employment data later today. This employment data is usually touted as a precursor to the NFP report and although its importance is now being overlooked, it still serves as a necessary gauge on how the the NFP report would eventually pan out. Any fluctuations in this particular data are most likely to show in the NFP report as well.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Mar 09, 2017 4:32 am

GBP/USD Fundamental Analysis: March 8, 2017


The GBP/USD pair continues to trade very weakly during the previous trading session. This could be initially attributed to the strengthening of the USD which was reflected across the board, but what has really affected the pound here is the fundamentals underlying the UK economy, as well as various uncertainties which is constantly putting pressure on the value of the GBP/USD pair.


Once the Article 50 gets invoked, the Brexit process is pretty much locked in, and this means that there would be several negotiations between EU and UK leaders immediately after the invocation. UK leaders are expected to be stricter with regards to EU trade access since the majority of them would like the UK to realize the several benefits that it would lose once the country finally becomes a separate nation from the European Union. This uncertainty as well as the tediousness of the Brexit process is likely to take its toll on the GBP/USD pair and this is starting to become more evident as the currency pair continues its weak trading stance, with the currency pair just hovering over 1.2200 points.

The UK will be releasing its yearly budget release today, and the country is expected to paint a pretty picture of their economy in order to boost public sentiment. This might give temporary resolve for the sterling pound but would eventually fizzle out as the fundamentals continue to put downward pressure on the state of the GBP/USD pair.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Mar 09, 2017 4:54 am

USD/CAD Fundamental Analysis: March 8, 2017


The USD/CAD pair continues trading within a limited trading range near its range highs, which is the pairís current trend ever since the start of the week. The stability of oil prices has helped the Canadian dollar maintain its current stance, but since the USD has been consistently regaining its strength, the bears are having difficulty in exceeding the bullsí progress and this is why the currency pair is firmly in control, with the bulls dominating the USD/CAD pair.


The Canadian trade balance data was released yesterday which came in at a value of 0.8 billion CAD which is very good news for the economy. The trade balance data from the US was als released yesterday and this reading somewhat fell short of initial market expectations/ However, neither of these data had a significant impact on the value of the USD/CAD even though the US dollar is now bracing itself for the onslaught of economic data releases later this week. Both the US and Canada will be releasing its employment data this coming Friday and market players are now preparing for the expected increase in volatility once the data gets released into the market.

For todayís trading session, there no major news releases from the Canadian economy although the US will be releasing its ADP employment data and unless this shows a drastic shift in its economic readings, the USD/CAD pair would most likely continue its ranging and consolidation.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Mar 10, 2017 6:08 am

USD/CAD Technical Analysis: March 9, 2017


The Canadian dollar was able to preserve its stance compared with the US dollar yesterday. The loonie received some support from the positive figures of Trade Balance a few days ago. Investors wait with expectation for the statistics of US labor market which could establish a route for the USD/CAD.


The pair was trading flat and toggled in the middle of the Wednesday night session. The price is positioned in tight channels of †1.3400 - 1.3430 all throughout the night.
Moreover, the USD resumed its short-term bullish trajectory during the earlier trades. The major further pulled out from the 1.3400 region and rallied higher heading to 1.3470.


As rolled out from the 4-hour chart, the price was developing beyond the moving averages. It further mentioned the 100 and 50-EMAs preserved its bullish pattern while 200-EMA move over the neutral grounds. Resistance touched 1.3470 mark, support hit 1.3400.


The MACD histogram is positioned within the same level confirming buyerís strength. RSI oscillator hovered near the overbought readings and expected to support a fresh upward movement

The bullish market structure is expected to remain in its place in the short-term. Bullsí next target is at 1.3470.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Mar 10, 2017 7:49 am

GBP/USD Technical Analysis: March 9, 2017


The House of Lords decided to allow the Parliament to exercise a veto with regards to the management of the Prime Minister towards the European Union. This resolution made some impact to the British currency. Moreover, Theresa May has to face another difficulty with the Brexit negations.


The sterling remained flat during the Asian hours. The sellers spend the whole night accumulating strength for another support and pushed the price lower in the morning.


The spot was removed from the region 1.2200 and progress lower prior to the opening of London session. The Cable was able to hold 1.2150 amid noon trades. As mentioned in 4-hour chart, the price resumed its development under the moving averages. The 50, 100 and 200-EMAs headed downwards. Resistance is seen at 1.220, support highlighted 1.2100.


The MACD indicator decline as the sellers gained strength. RSI belong in the undervalued zone and expected to favor for a new lower trend.

Based on the current flow, a scenario where a downward movement at 1.2100 is considered.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Mar 10, 2017 9:34 am

EUR/USD Technical Analysis: March 9, 2017


The trend of EURUSD made little changes prior to the onset of ECB monetary policy meeting. The German Industrial Production came in green which provided minor support for the European currency.


The bears continued to dominate the market on Wednesday. During the whole night of trading, the sellers persist in pushing the major lower and touching 1.0550 level in the earlier trades. While European traders struggled to break the mentioned handle.


The 4-hour chart showed the pair cut through the 50-EMA towards a lower point. The timeframe also outlined the price was situated under the moving averages and directed downwards.


Resistances landed at 1.0600, support is at 1.0500.


The MACD histogram has its seat in the centerline. An entry towards the negative zone will signal increasing strength for the sellers. The positive territory, on the other side, will indicate buyerís control within the market. RSI hovered around the neutral territory.

Any action under the 1.0550 region would trigger bearishness to 1.0500 mark.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Mar 14, 2017 6:18 am

EUR/USD Technical Analysis: March 13, 2017


The single European currency was able to remain in the driverís seat following the hawkish remarks from ECB President, Mario Draghi. Moreover, the broad-based retracement of the greens open doors for the euro to recover few of its losses.


The current rebound from region 1.0525 that pulled away the euro from the red. The EUR have sustained its winning position on Friday. The buyers were able to push 1.0600 during EU opening and advanced towards 1.0615 during the latter part of the day.


The 4-hour chart presented the 100 and 50-EMA to ascend and come nearer to the 200-EMA. Moreover, the 50-EMA shifted towards the upper level, 100-EMA appeared neutral and the 200-EMA preserved a bearish trend. Resistance touched 1.0650, support is at 1.0600.


The MACD histogram came in the positive territory. Upon maintaining this grounds, buyers will gain more strength. RSI headed north indicating an upward impetus.

The euro indicated an overbought condition. Forecasts say that pullback is expected within the market in the near-term. The next focus is at 1.0550 mark.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 15, 2017 9:22 am

USD/CAD Fundamental Analysis: March 14, 2017


The USD/CAD pair spent most of yesterdayís trading session on a mostly ranging and consolidating manner, with the currency pair consolidating within the 1.3400-1.3500 region due to the lack of significant economic events from both the US and the Canadian economy. The market is now on a monitoring stance particularly on the USD and this has been reflected in the lack of any kind of activity in the USD/CAD pair.


The market is currently waiting for the onslaught of the release of several economic data from the US tomorrow, with the most important release being the FOMC announcement where the central bank is expected to implement its first interest rate hike for the year. Aside from the FOMC announcement, the CPI data as well as the retail sales data will also be released tomorrow. The high expectations for an interest rate hike tomorrow has helped keep the USD/CAD pair to remain within its range highs. However, the market is not yet sure as to how much hawkishness will be needed for the USD bulls, and this has become somewhat problematic for the USD/CAD pair as the pair has difficulty calculating its move immediately after the FOMC data release.

If the statement from the central bank comes out as satisfyingly hawkish, then the USD could boost its strength and could help the USD/CAD bulls to challenge the sells located at the pairís 1.3500 barrier. If the data comes out otherwise, then the USD/CAD pair could possibly retreat to its previous trading range. For todayís session, the US economy is expected to release its PPI data which is not expected to induce added volatility into the pair.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 15, 2017 11:16 am

GBP/USD Fundamental Analysis: March 14, 2017


Although the UK economy saw a lot of events and developments during yesterdayís trading session, this has done practically nothing to induce added activity into the GBP/USD pair. A slight bounce occurred in †the pair during the previous session but this was automatically met with a selloff, especially since the bounce was somewhat thin and was unable to hold on and prevent the said selloff from occurring. The GBP/USD pair has however managed to surpass 1.2200 points and even managed to reach 1.2250 following market rumors that Theresa May might not be invoking Article 50 within the week. However, since there was no actual confirmation that the invocation would indeed be happening this week, the market became initially confused on the British poundís rally and the lack of basis to this particular assumption has caused this bounce to eventually die out.


In addition, there have been rumors swirling around that the British government might not accept Scotlandís request to hold an independence referendum, especially since the UK is already neck-deep in uncertainties and another referendum would only cause more disaster for the countryís economy. These series of events has caused the GBP/USD pair to retreat towards 1.2200, where it is currently trading.

For todayís trading session, there are no expected data releases from the UK economy, while the US economy will be releasing its PPI data. However, all eyes will be on the FOMC rate announcement which is set to be released tomorrow. This, in addition to the impending invocation of Article 50, are both expected to keep the GBP/USD pair under pressure in the short term.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 15, 2017 11:26 am

EUR/USD Fundamental Analysis: March 15, 2017


The USD increased in value as the market anticipates the release of the FOMC rate announcement later today. As a result, the EUR/USD consistently weakened yesterday and has managed to break through 1.0650 points and is currently situated at just above 1.0600 points. A lot of analysts have been saying that the currency pair could possibly consolidate within the 1.0600-1.0700 barrier during the week of the FOMC statement and could possibly maintain its place within the region up until the end of this week.


The expected rate hike this coming March is pretty much secured and what the market will be focusing now is the amount of hawkishness of this particular announcement, and this is where the uncertainty lies. The majority of market players have no idea on just how hawkish the statement should be in order to push the value of the dollar further. Nonetheless, the market expects that there would be some sort of clue on the Federal Reserveís next move and if possible, hints on the next scheduled interest rate hike from the central bank. Of course, it would definitely be good news for the market if the statement outwardly gives out clues of the next rate hike, but then again the central bank is not known for such moves and could possibly state that the schedule of the subsequent rate hikes would depend on the status of various economic data in the future.

The volatility of the EUR/USD pair could possibly be increased by the release of the CPI index data and the retail sales data. The currency pair could possibly drop to 1.0600 points and could even reach 1.0580 for a short period if the data comes out as positive.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Mar 17, 2017 10:47 am

GBP/USD Technical Analysis: March 17, 2017


The market mainly focused on the meeting of the Bank of England about its monetary policy decision. Investors anticipate that regulator will keep an unchanged rate and does not assume any other surprising events.


The market became bearish yesterday. Investors believe that the sterling should be lifted on top of 1.2300. The major stayed near the barrier and moved downwards during the first part of the day. The Cable preserved an ask tone throughout the day.


According to the 4-hour chart, the GBP/USD broke the 50-EMA and tested 100-EMA afterwards. At the same, the 100 and 200-EMAs drove lower while the 50-EMA came in neutral.
Resistance is found at 1.2300 level, support is at 1.2200.


The histogram made its entry to the positive territory. Upon maintaining this position the buyerís strength will increase. The RSI consolidated alongside the overbought readings.

Moving downwards near the 1.2200 level would the be the next possible scenario.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Mar 20, 2017 10:38 am

AUD/USD Technical Analysis: March 20, 2017


There is no expected economic release scheduled from the Australian dollar on Friday. Investors were in a wait-and-see mode for the RBA Meeting minutes scheduled on Tuesday. Moreover, the offered tone near the greenbacks provided strength for the Aussie.


Buyers found a hurdle around 0.7700 but needed to leave off their gains.The major rebounded and stalled on top of 0.7660.


A bout of renewed buying pressure came up during Fridayís Asian session. The AUD/USD were pulled back by the buyers towards 0.7700 removing its current losses.


The 4-hour chart determines the price continuously develop above the moving averages as the 200 and 50-EMA directed higher while 100-EMA seems neutral. Resistance entered 0.7700 level, support holds 0.7650 mark.


The histogram preserved in the same region favoring buyerís strength. RSI indicator is situated close to the overvalued area which confirms another move lower.

After making a gap on top of 0.7700, the next will be 0.7750. Failure to post its fresh gains could possibly occur some profit taking. The AUD would likely weaken reaching 0.7600-0.7620.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Mar 21, 2017 6:20 am

GBP/USD Technical Analysis: March 20, 2017


The upside bias continued to exist until Friday. Buyers stalled its activity during the night. Moreover, the night correction was considered as a profit-taking action of buyers who failure to hold its place.


Bulls became active in the morning trades pushing the major near 1.2400 region and slowed down further. In line with the presentation of the 4-hour chart, the price cross above the 100-EMA and confined under the 200-EMA. Meanwhile, the 200 and 100-EMAs remained to be in a bearish pattern, 50-EMA directed up as mentioned in the chart. Resistance highlighted 1.2400, support entered 1.2300.


MACD indicator strengthened confirming for a buy signal. The RSI consolidated around the positive area.

Should the GBP/USD pair accomplish to breakout from the 1.2400 mark, the next focus is 1.2500 resistance region. However, there is an outside chance for a move on top of 1.2400 due to an overbought condition. Due to this probable scenario, the Cable is expected to reverse at 1.2300.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Mar 21, 2017 6:50 am

EUR/USD Technical Analysis: March 20, 2017


The Eurozone Trade Balance, particularly in Italy, presented negative results. While the greenbacks sentiment remained to be a major driver of the markets. The US dollar kept its stance near its lows on the back of slightly hawkish remarks of J. Yellen.


The common European currency spiked amid the post session of New York last Thursday. The buyers lead the price higher and broke the level 1.0750. On one side, bulls successfully edged higher towards 1.0770 in the latter part of the day and decided to stop.


The spot kept intact in a narrow range over the 1.0750 region. The neutral position was preserved amid morning session.


The 4-hour chart presented the price to develop beyond the moving averages, as the 50-EMA showed an upward crossover to the 200-EMA. The 50 and 100-EMAs advanced upwards while 200-EMA is found neutral. Resistance is at 1.0800, support lies at 1.0750.


The MACD histogram increased which suggested a buy signal. RSI have seen consolidated within the positive zone.

It is expected that the outlook, in general, will remain to be bullish due to ascending trend en route 1.0800. Nevertheless, there still a possibility of reversal towards †1.0720-1.0700.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 22, 2017 11:07 am

EUR/USD Fundamental Analysis: March 22, 2017


The EUR/USD pair was able to move towards 1.0800 points, with the currency pair managing to stay at over 1.0800 for a brief period. However, since the pair has not yet managed to make a clean breakthrough at this very tough barrier since it only momentarily peeked over this level, the pairís surge was eventually met with large selling and had no choice but to retreat at just under 1.0800 points.


However, in spite of this particular occurrence, the EUR/USD pair is still trading on a somewhat stronger note, thanks to the pairís bulls who continue to trade on a strong streak. The EUR/USD pairís move at under 1.0800 now seems as just more of a correction as the pairís price are still well-maintained within its range highs. This is why the currency pair might give another shot at surpassing the 1.0800 barrier for today, especially since the forthcoming French polls might have Macron as its next President after all. This is a sigh of relief especially for the EUR currency, since Le Pen, Macronís opponent, is a widely-known critic of the euro currency. In addition, the pairs bulls are getting a lot of encouragement from the very bullish stance of the ECB, who recently stated that the strength of the euro can be mostly attributed to an improvement in the EU economy. The USD has also been struggling to make significant gains in spite of the recent rate hike and there is a very definite possibility that the pair could possibly move towards 1.1000 points once makes a clean break through 1.0850 points.

There are no major news from both the EU and the US economy for today, and this is why the EUR/USD pair might again attempt to break through its barrier. Traders could opt to wait whether the currency pair is able to surpass 1.0850 during the course of the day.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 22, 2017 12:07 pm

GBP/USD Fundamental Analysis: March 22, 2017


The GBP/USD pair has been consistently making its way towards 1.2500 points and it looks like the pairís bulls are more determined than ever to break through this particular range. As of the moment, the GBP/USD pair is now trading at just beneath 1.2500 points and is bracing itself once the currency pair pushes past 1.2500 points, where it is expected to be met with a lot of sells. The bulls must be able to weather these large-scale selloffs in order for the currency pair to go past this particular barrier.


The UK economy released its inflation data yesterday with a reading of 2.3% going well beyond the initial market expectations. This, along with one of the BoE officials voting for a rate hike just goes to show that the Bank of Englandís data and policy seem to be in sync, thereby causing the sterling pound to increase in value. However, now that the GBP/USD pair as well as the euro are both in a very critical situation, the market is waiting whether the currency bulls would be able to break through these respective regions.

However, the positive bearing of the sterling pound does not mean †that the currency does not run any risks. We still have the nearing invocation of Article 50 as well as Scotlandís recent demand for an independence referendum, although the market has chosen not to focus on these and instead focus on the weakness of the USD. There are no major news releases coming from both the US and UK economy for today and so the market will be focusing instead on the battle at the 1.2500 barrier, with the market focusing on whether the currency pair will be finally making it through this section or weaken eventually and resort to some more consolidation for the rest of the trading day.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 22, 2017 12:21 pm

USD/CAD Fundamental Analysis: March 22, 2017


The price action of the USD/CAD pair during the previous session was mostly dictated by the Canadian retail sales data, which came out better than expected. However, one downside to this is that the positivity of the data was somewhat offset by the data last month, which was revised on a much lower level. This correction has then helped remove some of the pressure off of the currency pair and enabled it to move towards 1.3350 before finally settling at just under this particular range. The pair eventually dropped towards 1.3260 where it is currently situated.


The pair was met with a lot of buying and this has helped the pair to slowly recover towards 1.3300 points, and the correction in the countryís retail sales data enabled the pair to go even higher. The Canadian dollar has also weakened as a reaction to the repeated failed attempts of oil prices to recover from its recent slump, causing the USD/CAD pair to recover towards 1.3350 points and even surpassed this particular barrier.

For todayís session, there are no major news releases from the US economy aside from the oil inventory data, which is expected to affect the status of the CAD based on the currencyís previous price action. Expect the Canadian dollar to drop in value as a reaction to this particular data and consolidate within 1.3300-1.3400 points for the duration of todayís trading session.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Mar 23, 2017 11:37 am

AUD/USD Technical Analysis: March 23, 2017


The risk-off market sentiment alongside the softening of copper and other commodities affected the Australian dollar on Wednesday.


On Wednesday, the AUDUSD was neutral following the sell-off occurred on Tuesday. The sellers found a hurdle around 0.7650 mark. The handle slowed down the sellerís movement and the price was rejected. The spot was confined near the region as its progresses in an aimless manner.


The commodity-linked pair tested the 50 and 200-EMA while the 50-EMA crossed on top of the 100-EMA touching the 200-EMA as shown in the 4-hour chart. Also, the 50-EMA †preserved a bullish pattern while the 100-EMA shifted downwards while the 200-EMA showed signs of being neutral.


Resistance entered 0.7700, support is at 0.7650.


The MACD declined which confirmed the weak position of the buyers. RSI oscillator en route downwards.

A break to 0.7600 region will pass the attention to the level 0.7550.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Mar 27, 2017 11:59 am

USD/CAD Technical Analysis: March 27, 2017


The Canadian currency was unable to sustain its upside momentum as it currently endures the continuous weakening following the weak prices of crude oil.
The greenbacks rebounded 1.3330 and reversed towards 1.3375 in which the buying impetus seems short-lived. The price headed back in the mid-session of Asia and begin to retreat afterward.


The pair continued to decline amid early European trades and attempted to cut through the 50-EMA, nevertheless, failed to do so which caused it to reenter under the moving averages. Furthermore, the 50-EMA remain to move lower, 100-EMA appeared neutral and the 200-EMA headed upwards.


Resistance covered 1.3400, support is at 1.3330.


The MACD histogram was spotted at the centerline. On one side, an entry in the positive territory will favor buyersí strength and on the negative grounds will allow sellers seize the control within the market. RSI was confined in the neutral area.

A break under 1.3330 mark would indicate further weakening towards support level 1.3260.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Mar 27, 2017 12:18 pm

GBP/USD Technical Analysis: March 27, 2017


The recovery of the greenbacks coupled with the BBA Mortgage Approvals of UK place pressure towards the British currency on Friday.


The Cable secured its bullish market position on Friday. The spot leaves the upper limit of the channel in the night and slowed down near its lower limit during the morning session of Europe. The GBPUSD kept steady amid the day maintaining its seat close to the 1.2500 region.


The 4-hour timeframe illustrated the major stayed aloft moving averages, seeing the 100 and 50-EMAs to drive higher while 200-EMA turned neutral.


Resistance touched 1.2500, support hit 1.2400.


The MACD indicator grew less presenting weak position of the buyers. RSI oscillator sits next to the overbought grounds, confirming for a higher move.

A move over the 1.2500 level would likely take an advance move towards 1.2600 mark.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Mar 27, 2017 12:40 pm

EUR/USD Technical Analysis: March 27, 2017


The positive figures of Manufacturing and Composite PMI from the countries, France, Europe and Germany offered some strength to the single European currency. Particularly, German index which attained the strongest level for almost six years. Meanwhile, the greenbacks obtained a weaker position after the treasury yields inch lower in which provided further support for euro.


The †EURUSD continued to stay in the hands of the bulls on Friday. The EUR reached its lower limit in the ascending channel over the night and jumped higher. The price also spiked from the mark 1.0760 towards 1.0800 amid EU morning sessions and sit still in the New York trades.


The 4-hour chart determined that the pair resumed its development on top of the moving averages as the 100 and 50-EMA preserved a bullish pattern while 200-EMA came in neutral.


Resistance entered 1.0800, support touched 1.0750 region.


MACD indicator strengthened which showed a buy signal. RSI oscillator edged upwards.

In case the level 1.0800 broke, the next level would possibly be at 1.0850.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 29, 2017 7:39 am

EUR/USD Fundamental Analysis: March 28, 2017


The EUR/USD pair crashed during the previous session as the pair corrected its current upmove which has been the pairís trend for the past few weeks. The USD finally recovered across the board, resulting to sellers taking advantage of this occurrence and selling the EUR. The dollar strength has helped to propel the pairís value towards 1.0800 points, therefore eradicating the pairís previous gains which was made last Monday.


Because of this, traders are now mulling over the fact that the EUR/USD pair could be in for more corrections as the sessions progresses. However, the market has no choice but to wait and see how the pairís price action turns out in the next few days, particularly if whether the pair would continue its current trend of correction or if the pair backs down as it approaches its support barrier at 1.0800, where the currency pair is situated as of the moment. The USD remained weak last Friday up until Monday due to the repeated failed attempts of the Trump administration to pass the healthcare bill. However, the White House is now trying to make another attempt at passing the said bill after Republicans reached out to like-minded Democrats. In addition, the US economy continues to release a slew of strong economic data and this has caused the EUR/USD pair to fall further during the US trading session.

For todayís session, there are no expected releases coming from both the EU and the US economy. However, the month-end flows are expected to come anytime soon as March comes to a close, and since the USDís strength is expected to persist today, the EUR/USD pair would continue to remain under pressure with the 1.0800 range remaining the essential barrier for the currency pair.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 29, 2017 9:57 am

GBP/USD Fundamental Analysis: March 29, 2017


The GBP/USD had a very disastrous trading day yesterday as the currency pair crashed by over 200 pips following the USDís recovery, as well as the nearing invocation of Article 50. A lot of market players have been saying that today will be a very interesting day for the GBP/USD pair as the Article 50 will be invoked later today, which will mark the start of the Brexit process and basically a point of no return for the British economy.


The GBP/USD pair has seen a consistent buildup of shorts during the past week as the market awaits a very large drop today. However, the value of the GBP/USD pair is also consistently moving higher and increasing towards 1.2600 points. This is a potentially very risky combination and the effect of this combo manifested yesterday, wherein both the USDís strength and Brexit-related concerns caused the currency pair to drop from its range highs of 1.2600 towards 1.2400 points, where the pair is currently trading. The USD recovered amid possibilities that the Trump admin might again try to pass the healthcare bill by seeking help from like-minded Democrats. Theresa May will also be signing the order for Article 50, and it will be interesting to see how the sterling pound will react to this most recent development in the UK economy.

For todayís session, there are no major releases from both the US and the UK economy and this is why the market will be mostly focusing on the invocation of Article 50 and the subsequent reaction of the GBP/USD pair following the said invocation.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Mar 29, 2017 11:47 am

AUD/USD Technical Analysis: March 29, 2017


The Australian dollar against the U.S. dollar declined in the beginning of Tuesday trading but turned around and found significant support level at 0.7587 with 61.8% Fibonacci retracement level. A bullish candle was seen and the market tries to move to higher towards the .7750 level and above.


Later on, the market was able to break higher than the 0.7648 resistance level completing the downtrend from 0.7749 to 0.7587 level. It is more favorable to buy this pair with chances for a breakout in the gold market which traders are trying to attain and if they are successful in doing so higher than $1262 level, this would give higher returns to the traders.

The current price could further go up towards the next target at 0.7700 zone while a break lower than the support level at 0.7587 could follow downtrend towards 0.7500 mark. †
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Mar 31, 2017 7:53 am

USD/JPY Fundamental Analysis: March 30, 2017


The USD/JPY pair dropped in value during the previous session in spite of the US dollarís strong outlook against other major currencies. The ambiguity in the US equity markets, as well as weak Treasury yields might have contributed to the weakness in the currency pair. A lot of investors are now going back to the safety of the Japanese yen, mostly because of the alarming concerns with regards to the French elections, Brexit negotiations, and Trumpís frustrated attempts to fulfill his campaign promises. The USD/JPY closed down the previous session at 111.042 points after decreasing by 0.083 points or-0.07%.


For Thursdayís session, investors will be waiting for the release of the US GDP data as well as jobless claims data, in addition to comments from Fed officials including Kaplan, Dudley, Williams, and Mester. But of these four officials, the statement coming from Dudley is touted as the most interesting due to his position in the FOMC as a permanent voter. Dudley is expected to discuss topics such as the Fedís monetary policy and the present financial climate of the US economy.

For the meantime, it seems as if the Fed and bond investors have contrasting views with regards to the path of US interest rates. This could be partly attributed to bond investors overvaluing the Trump administrationís ability to help prop up the economy by way of highly-aggressive economic policies. The USD/JPY pair could receive additional support if the Republicans would manage to convince investors that they can actually turn Trumpís proposals into actual laws. However, any additional doubts with regards to Trumpís ability to fulfill his role as President could induce additional selling pressure.
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Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Mar 31, 2017 10:48 am

USD/CAD Technical Analysis: March 30, 2017


The commodity-linked pair is confined to a familiar range yesterday. The price was positioned in the middle points of †1.3400 and 1.3350 within the day.
The overnight recovery slowed down in the earlier trades as the spot attained the channelís upper limit.


The morning session triggered renewed bearish tone. The greenbacks dropped sharply near the lower limit eliminating its gains throughout the night. Sellers unsuccessfully move downwards and hovered in the range.


In the 4-hour chart, the spot was sandwiched in the 100 and 50-EMA during the first part of the day. Meanwhile, the 50-EMA drove higher, 100-EMA shifted down and the 200-EMA preserved a bullish pattern.


Resistance is at 1.3400, support holds 1.3330 mark.


The MAcd indicator stayed on its previous level, favoring strength for the buyers. The RSI oscillator descended.

As mentioned in the same timeframe, technicals confirm a downwards continuation to 1.3330.
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EUR/USD Technical Analysis: April 3, 2017

Post by Andrea ForexMart on Mon Apr 03, 2017 10:59 am

The US dollar is positioned near its weekly highs on Tuesday but the bullish tone of German jobless rate stalled its advancement which offered another leg to the common European currency.


Furthermore, the price maintained a bearish sentiment last Friday, however, the bears did not hold its stance longer favoring the bull to reversed few of its ground.


The price bounced towards the area of 1.0675 amid Asian session on Friday. The EURUSD made a reversal to the mark 1.0700 throughout the European trades.


The 4-hour chart showed the EUR/USD cut through the 100-EMA downwards while 100 and 200-EMAs directed upwards, showing the 50-EMA to drove downwards.


Resistance was seen at 1.0700, support entered at 1.0650.


The MACD histogram grew less which indicates a sell signal. RSI indicator spent the day around the oversold territory, confirming a renewed higher move.

Forecasts say a move on top of the immediate resistance involves higher chance of testing the region 1.0750. Alternatively, a sell-off has a probability to occur towards mark 1.0650.
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