Portal
 Index
 Memberlist
 Profile
 FAQ
 Search
Latest topics
Social bookmarking

Social bookmarking Digg  Social bookmarking Delicious  Social bookmarking Reddit  Social bookmarking Stumbleupon  Social bookmarking Slashdot  Social bookmarking Yahoo  Social bookmarking Google  Social bookmarking Blinklist  Social bookmarking Blogmarks  Social bookmarking Technorati  

Bookmark and share the address of forexgreenland - Forex forum,Forex training, Forex signals, Forex mgt accts on your social bookmarking website

Bookmark and share the address of Forexgreenland - Forex forum,Forex training, Forex signals, Forex managed accounts on your social bookmarking website


Daily Market Analysis from ForexMart

Page 6 of 8 Previous  1, 2, 3, 4, 5, 6, 7, 8  Next

View previous topic View next topic Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Apr 04, 2017 12:03 pm

USD/CAD Fundamental Analysis: April 4, 2017


The USD/CAD pair had a fairly good trading session yesterday as it tested its range highs and is now trading at just under its range highs. The USD/CAD is expected to remain within the 1.3300-1.3400 region as of the moment and this was very evident during yesterday’s session. The market is now waiting for the string of economic data set to be released within this week. The market is now in a ranging and consolidation mood as traders prepare themselves for the possible repercussions of this said release of various economic data.


Oil prices dropped a bit below $51 yesterday, which is one of the main reasons behind the sudden weakness in the Canadian dollar. The Canadian economy is highly dependent on oil prices and as such, an increase in oil prices would mean an increase in the CAD and vice versa. And since oil prices dropped yesterday, this resulted to a weak CAD as well and caused the USD/CAD pair to go above 1.3350 points before moving towards its range highs of 1.3400 points. The currency pair was then met with a lot of selloffs, and although yesterday was a generally very dismal trading session, volatility levels are expected to increase today as several economic data are scheduled to be released within the week.


The Canadian Trade Balance Data will be released today, and the market will be monitoring this reading since this is a very essential economic basis for the Canadian economy especially due to its trade relationship with US. This is expected to increase volatility in the pair and could cause the USD/CAD to break through 1.3400 and could even reach 1.3500 points.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Apr 05, 2017 12:05 pm

EUR/USD Fundamental Analysis: April 5, 2017


The EUR/USD pair is still trading within a very limited range, although the pair’s bulls have somewhat managed to maintain its hold on the currency pair in spite of the pair’s inability to move in any definite direction for quite a while now. The pair’s bulls were initially expected to surrender its gains in order to enable the EUR to advance towards 1.0500 points at least prior to the FOMC meeting, but so far this has not yet occurred and it is possible that the minutes will be released with the EUR/USD pair still trapped within its current trading range.


The market was taken by surprise yesterday as Fed member Lacker tendered his resignation after admitting that he had leaked top-secret information with regards to the 2012 FOMC meeting to a certain financial institution. Lacker has also stated that the firm’s analysts had the said information but regardless of Lacker’s manipulation of the said statement, it remains clear that he has illegally leaked confidential information and subsequently resigned when the said scheme was revealed. The USD had surprisingly no reaction to to this particular news once it was released.

However, during today’s session, the USD backtracked across the board as the EUR/USD pair surged from 1.0650 points and traded very near its range highs of 1.0680 points. As of the moment, the market is now in a consolidating move as a lot of economic data are expected to be released later today. The ADP Employment Change data will be released today, which is an important piece of economic news since this is largely considered as a basis for the result of the NFP report. The US Manufacturing PMI data will also be released, followed by the FOMC minutes towards the close of the NY session. A volatility surge is expected prior to the release of the FOMC minutes and as such, traders are advised to tread very carefully with regards to trading with the EUR/USD pair. The pair’s bulls are most likely to dominate the pair and could enable the EUR/USD pair to inch higher during today’s series of sessions.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

USD/CAD Fundamental Analysis: April 5, 2017

Post by Andrea ForexMart on Thu Apr 06, 2017 8:47 am

The USD/CAD pair briefly made it towards 1.3400 points and even managed to surpass this region following a series of very dismal economic readings from the Canadian economy. However, the advancement of the Canadian dollar was almost immediately met with tremendous pressure from sellers, causing the CAD to retreat towards 1.3400 points. Analysts are now saying that unless the USD/CAD pair manages to surpass the large-scale selling at 1.3500 points, then the currency pair would be unable to make any significant progress as of now. But the pair’s bulls have yet to reveal how they plan to handle this dilemma in the pair as the USD is expected to be more level in the next few days on the back of an increase in oil prices.


The 1.3500 region has proven to be very crucial for the USD/CAD pair since the currency pair has been unable to overcome this pair for several times in a row. The currency pair would have to have large-scale buys in order to push past through this region and reach 1.4000 points. As of the moment, the Canadian economy has been throwing up some fairly decent economic data, although the Canadian trade balance data had somewhat paled and could be a precursor to a dismal future for the country’s economy. The trade balance data was at a negative while the market was expecting a positive reading, and this basically means that the country’s imports and exports are most likely to suffer in the long run.


However, the increase in oil prices could possibly provide a short-term breather for the Canadian economy, and since the USD is expected to experience short-term consolidations, the USD/CAD pair would most likely follow this particular trend and consolidate within 1.3300-1.3500 points. However, the pair is still not strong enough to surpass 1.3500 in the near future.


For today’s session, there are no releases from the Canadian economy but the US will be releasing several economic readings, such as the ADP employment change data and the FOMC meeting minutes. The NY session could possibly be met by a significant amount of volatility and if the pair’s price touches the 1.3500 range, then this could be a great opportunity for a stop loss.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Apr 07, 2017 10:48 am

GBP/JPY Technical Analysis: April 6, 2017


The British pound against the Japanese yen broke in the upper channel during the Wednesday session which is a sign of consolidation. The market will most likely try to reach the 140 handle but there is a noise down below for a long-term pressure. A break lower than the 50% Fibonacci retracement level gives a bearish bias which would push the trend to fall towards the 134 handle. Overall the pair gives a choppy atmosphere and with trading activity moving fast. With the ongoing Brexit process, this would affect the trading for this pair.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Apr 07, 2017 11:02 am

NZD/USD Technical Analysis: April 7, 2017


The New Zealand dollar surged following a break higher than the peak of the hammer during the Thursday session. A strong resistance level is found at 0.70 handle. It is anticipated for the pair to have a volatility and it could increase towards the 0.71 handle when the jobs data comes out and break higher than 0.70 mark. There could also be reversals and the support level to position close to the 0.69 handle. Nevertheless, traders should expect volatility for today’s trading session.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Apr 10, 2017 12:05 pm

EUR/USD Technical Analysis: April 10, 2017


The European currency was kept intact below the pressured area against its U.S peer which would likely post further losses. Germany released a mixed data while exports and imports did not meet traders’ expectations. The strong figures of Trade Balance have given support for the EUR. On the other hand, the dovish remarks of ECB President, Draghi place pressure on the major.


The entire perspective showed moderate changes on Friday. The EUR/USD stayed near the neutral spot during the morning session as its trades close to the lower end of its weekly narrow range. Moreover, the sellers came in active in the first part of the day pulling the spot downwards. The major cut through the level 1.0650 touching 1.0630 amid late trading of Europe.
Renewed selling pressure occurred prior the New York open. Sellers were able to direct the price through the points 1.0610-1.0600.


The price settled under the moving averages as registered in the 4-hour chart, 100 and 50-EMAs turned lower while 200-EMA continued to heads up.


Resistance reached 1.0650 area, support highlighted 1.0600 region.


The MACD histogram softened which signaled sellers’ strength. RSI headed southwards confirming a current downtrend.

The spot is expected to resume a bearish tone within a short period of time. A break under 1.0600 is awaited as it may trigger for a lower support.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Apr 11, 2017 7:16 am

AUD/USD Technical Analysis: April 10, 2017


The Australian dollar became weak on Friday along the sluggish statistics of Performance of Construction Index. Meanwhile, the risk off sentiment amid Asian session have put pressure on risk assets including treasury yields, equities, and the Aussie.


The pair continued to be well offered last Friday and resumed a negative sentiment throughout the day. The AUD leave the region 0.7550 during the night trades extending its bearish impetus within the day.


The sellers were able to reach the 0.7515 mark and rebounded. The major hovered over its session lows until the outset of North American hours.


As indicated in the 4-hour chart, the AUD/USD is positioned under the moving averages which shifted lower. Resistance holds 0.7550, support pierced into 0.7500.


The MACD histogram sustained its level affirming sellers’ strength. RSI indicator is found near the oversold territory which signaled a lover move.

Forecast says the pair would continue to decline within a short period of time. We still expect for a further move towards 0.7500.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Apr 12, 2017 11:14 am

EUR/USD Fundamental Analysis: April 12, 2017


The Euro paired against the U.S. dollar climbed higher during Tuesday’s session as it rebounded in the support level near the 1.0580 and broke towards the 1.0600 mark. It is favorable to go long as it extended towards the 1.0630 mark. It seems that the decline in prices has reached its end and is now anticipated to rise leaving the market wondering how high can it go. However, there is not enough momentum to bring the price up since the greenback has recently recovered that brought the pair back to the 1.06 mark.


There has been a lot of happenings involving geopolitical events in the past 24 hours that shook the market causing high volatility in the trend. The tension with North Korea and the situation in Syria where U.S. is trying to take control have been increasing concern day-by-day.


Moreover, Trump is trying to regain its pride and stand in the global economy.


It seems that Trump is losing its foothold as this puts pressure in the dollar but in effect brought the price up for the EUR/USD pair instead. With all his promises such as higher infrastructure spending, lower corporate taxes, improved health care programs, these were not yet achieved and the market is becoming impatient.

For major news today, traders should look out for the U.S. Crude oil inventory data to be released today but would not have much of an effect on the EUR/USD pair. It is foreseen that the pair will most likely react but in a small range due to rising geopolitical problems and associated risks which could persist for some time.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Apr 17, 2017 10:19 am

EUR/USD Technical Analysis: April 17, 2017


A sell-off occurred last Thursday was followed by the building recovery attempt by the single European currency on Friday. Meanwhile, sellers were unable to cut through below the region 1.0600. In light of this, the price resulted to rebound through the level during the night and trailed northwards amid day trading.


The EURUSD highlighted 1.0625 in the late session of Europe. Resistance entered the area 1.0650  while the support lies at the mark 1.0600.


A fresh bearish pressure is expected in the short-term. A breakout within 1.0600 would direct to its next objective at 1.0550.

Moreover, the major headed through 1.0650 for a correction. A gapped near the region would extend the recovery towards 1.0675. A bounced off hitherto will send back bearishness in the market.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Apr 18, 2017 10:33 am

GBP/USD Technical Analysis: April 17, 2017


The 1.2500 level halted the sellers activity on Thursday.  The price rebounded the mark during the Asian hours and continued to climb higher. The British currency strengthen overnight and highlighted the area 1.2515 during the first part of the day.


The spot maintained a spot nearly its recent highs within the day. Resistance is at 1.2600 region, support touched the 1.2500 range.

It is much anticipated for a move below the 1.2400 area.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue Apr 18, 2017 11:19 am

USD/JPY Fundamental Analysis: April 18, 2017


The US dollar crashed to its lowest levels within a five-month period against the Japanese yen as a reaction to North Korea-related tensions during the previous weekend. However, as the USD/JPY pair came within a major retracement barrier at 107.856 points, the USD managed to recover its losses and closed down on a much higher level than expected. The USD/JPY pair closed down the previous session at 108.904 points.


The current volatility level of the USD/JPY pair has been mostly influenced by the price action of the US Treasuries. US bond prices crashed during the previous session immediately after reaching an all-time high since November last year. Now that both the USD/JPY pair and Treasury yields are on their lowest rungs since November 2016, a lot of investors are now speculating that the Trump administration will be unable to complete its campaign promises within the preset timeframe, including the implementation of a new healthcare plan, tax cuts, and even imposing an increased fiscal spending mechanism. In addition, some traders are also saying that the USD was propelled forward by reports that Trump is leaning towards appointing a bank-friendly figure for the Federal Reserve’s vice chair for bank supervision post.

For today’s session, the course of the USD/JPY pair is expected to be dominated mostly by investor sentiment as well as Treasury yields. The currency pair will be able to regain its momentum only if there is an increase in yields and if investors put their interests towards high-earning assets.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Apr 19, 2017 7:53 am

GBP/USD Fundamental Analysis: April 18, 2017


The GBP/USD pair traded on a strong note during yesterday’s session as it was able to not only maintain its gains but has also managed to propel itself forward and attempt to make a dent in the resistance region situated at 1.2600 points. As of the moment it is still unable to make a significant impact in this particular region but it has yet to be seen whether it will be able to make a dent as the European traders are now going back to work after the holidays. A retraction towards the 1.2500 trading range is expected to occur before making any serious gains.


The sterling pound has been doing really well as the market is now waiting for the start of the Brexit negotiations between the EU and UK officials. The negotiations are expected to be very long and very winding, and both sides should be able to hold onto their respective gains. The Brexit process itself is also expected to affect the sterling pound in the long run. The string of economic data released from the UK economy looks good so far, with the Bank of England managing to hold the current economic situation together, however it remains to be seen whether it will still be able to do so once the negotiations begin. The 1.2600 region is expected to be sustained but as the negotiations wear on, this is expected to induce additional volatility into the pair and this is why traders should be extra careful when it comes to trading with the GBP/USD pair in the medium term outlook.

There are no major news releases from both the UK and the US economy for today, and as such, the GBP/USD pair is expected to continue its current trend of ranging and consolidation with a bullish undertone as it again tries to break through the 1.2600 range.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed Apr 19, 2017 8:39 am

AUD/USD Technical Analysis: April 19, 2017


The Australian dollar against the U.S. dollar declined during the Tuesday session intersecting the 200-day Exponential Moving Average. There is a significant support found below at 0.75 level and a sign of supportive candle pattern indicates buying opportunity. If the price breaks above the shooting star on Monday session, this signals a bullish tone. Hence, it is much favorable to go long for this pair. The gold market could support this pair which is influential for this pair.

The pair broke lower than the 0.7535 support level indicating that the price moves upward from 0.7473 up to 0.7610 zone. This could further go down towards the next testing at 0.7473 support level and a breakdown in the said level will complete the downtrend indicating a continuation from 0.7749 mark towards 0.7300 area.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Apr 21, 2017 5:49 am

GBP/USD Technical Analysis: April 19, 2017


The British pound versus the U.S. dollar sustained the bid tone during the Tuesday Asian session. The price climbed from 1.2550 during the night and proceeded towards the 1.2600 level the next morning. The pound rebounded moved downhill during the post-London open. It almost reached the 1.2500 level as the trend turned bullish again. It surged upwards reversing losses as it broke exceeding the 1.2600 mark.  

The Resistance level came in at 1.2700 while the support level was seen at 1.2600 mark. If the market is capable of sustaining the psychological levels higher than the 1.2600, the buyers will have the upper hand towards 1.2700.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri Apr 21, 2017 7:26 am

EUR/USD Fundamental Analysis: April 20, 2017


The EUR/USD pair encountered a lot of selling pressure after it reached the 1.0750 trading range and was unable to make any significant progress beyond this particular region. The currency pair has tried in vain to break through this range and has since then resorted to consolidating between 1.0750 and 1.0700 region for the duration of yesterday’s session, with the pair’s bulls mostly responsible for maintaining the pair’s position within its range highs.


There were no economic news released during the previous session and this is why the EUR/USD pair merely engaged in a ranging and consolidating mode with a bullish undertone for the US dollar. The USD strength was not that pronounced and was only able to induce a minor correction in the EUR/USD pair. However, there are some members of the ECB that are saying that economic speculations in the eurozone could possibly exceed market expectations, however this did not make a significant dent in the current value of the EUR/USD pair. The 1.0750 trading range could possibly be a good position for the pair’s bears to push the currency pair down, where the selling is expected to surge. The currency pair could also possibly correct towards 1.0600 unless a major market phenomenon shocks the market yet again.


For today’s trading session, the US will be releasing its unemployment claims data as

well as its Manufacturing Index data while there are no expected releases from the EU economy. The US Treasury secretary will also be making a speech within the day and this is expected to increase today’s market volatility. On the other hand, the USD is expected to hold its ground and the currency pair will most likely remain within its current range.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Apr 24, 2017 10:32 am

USD/CAD Technical Analysis: April 24, 2017


The U.S. dollar paired against the Canadian dollar surged during the Friday session as it broke above the 1.35 handle as it has been before. This could climb higher but at the same time, this will bring high volatility in the market. The oil market could support this trend especially when it drops which is not far from happening.


Overall, the trend gives a bullish tone and reversals could create opportunities to go long for this pair. If the pair breaks higher than the 1.36 level, the trading condition could switch to a “buy and hold” scenario in the market.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon Apr 24, 2017 11:26 am

GBP/JPY Technical Analysis: April 24, 2017


This week showed that the pair GBP/JPY have rallied throughout the week, hitting the handle 140.


In case that the 141 region will be broken, the market would advanced higher. A pullback with buying opportunities is significant except that we could cut down lower than the weekly lows.


It is highly expected that the market will resume its activity to search for buyers considering the British currency to gain much strength.

Keep in mind that the GBP/JPY is very much susceptible to risk appetite which is important for you to be aware of the stock markets. Moreover, it is possible that 150 handle will be the most profitable level.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Apr 27, 2017 6:04 am

EUR/USD Technical Analysis: April 26, 2017


On Tuesday, the Euro bulls were able to win back the driver’s seat following a neutral position in the night.


The major were removed from the region 1.0850 during the morning trades of Europe as it moved and rallied near its fresh peaks found at 1.0900 mark.


The price halted within the 1.0900 in which the EURUSD eyes some renewed offers. The single European currency had moderately eased eliminating its entire gains in the morning eventually.


As shown in the 4-hour chart the technical indicators appeared to be bullish. Resistance touched 1.0900 level, support pierced through 1.0850 range.


Moreover, a close over 1.0900 is expected to yield fresh bullish indicator in order to move further. It could probably reach the 1.0950 hurdle but correction is not ruled out as a means of filling the gap.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu Apr 27, 2017 6:59 am

GBP/USD Technical Analysis: April 26, 2017


The general situation persists to manifest the same scene as of Tuesday. The British currency seems rangebound amid day trades. The price has already reached the band’s lower limit during the first part of the day and rebounded afterward.


The spot stalled having touched the range’s upper limit while technical indicators are in mixed signals.


Moreover, the Exponential Moving Averages (EMAs) trailed lower while the RSI together with the MACD showed positive indications. Resistance entered 1.2900 level, support entered 1.2800 area.

A negative scenario is projected to take place. In case that the GBPUSD touched below the 1.2800 support region will trigger a downtrend in the near future.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

USD/JPY Fundamental Analysis: May 2, 2017

Post by Andrea ForexMart on Tue May 02, 2017 6:54 am

Investors on the USD/JPY pair chose to pay no mind to the relatively weak economic data coming from the US and instead shifted its focus on the recent increase in the demand for high-yield assets such as stocks, as well as an increase in the yields of US Treasuries. The USD/JPY pair closed down the previous session at 11.824 points after increasing by +0.30% or 0.335 points.


A drop in the US economy’s inflation and factory rates has put out any possible expectations for an interest rate hike this coming June from the Fed. Meanwhile, the PCE index dropped by 0.1 points last March, the index’s largest decrease ever since September 2001. In addition, the Core PCE Price Index increased by 1.6%, which is its smallest gain since July 2016. US Treasury yields surged yesterday after the US government managed to avoid a possible shutdown after clinching a deal for government funding. Equity prices also managed to climb higher, which also heightened the demand for high-risk assets and diminished the demand for the Japanese yen.

The USD/JPY pair could possibly find more support just as long as there is a demand for high-yield assets. However, the currency pair quickly became range-bound since investors are now bracing themselves for the Fed’s interest rate decision this coming Wednesday. As of the moment, the Federal Reserve is not expected to implement an interest rate hike this coming Wednesday, however the USD/JPY could possibly be influenced by the central bank’s statement tomorrow. Traders are advised to look for any clues with regards to the Fed’s next timing for its interest rate hike.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

EUR/USD Fundamental Analysis: May 2, 2017

Post by Andrea ForexMart on Tue May 02, 2017 9:49 am

The EUR/USD pair exhibited a ranging and consolidation during the duration of yesterday’s session. It was a market holiday yesterday in several parts of Europe and Asia, and this is why the market volatility and liquidity levels were on a low during the previous session. In addition, traders are also proceeding with caution since the first week of the month is usually characterized by an influx of economic readings from last month.


These factors were the main reason why the currency pair consolidated within a small range of less than 50 pips. Today could be considered as the legitimate start of the week, and now that there is an expected surge of data coming from last month, the market is expected to undergo some significant volatility for today. The EUR/USD pair ran at 200 pips during the previous week following the results of French national elections, and this is why the currency pair could possibly be subject to corrections, although it has yet to be seen just how significant these corrections would be. The 1.0850 trading range is expected to ward off any corrections at least for the time being while the market waits for the release of economic data this week. The FOMC meeting minutes, the NFP report, and a speech from Yellen will be released within the week which could induce volatility in the pair. However, the market will be looking out for any hints of a Fed rate hike this June and if this does not happen, then the EUR/USD pair could possibly test the 1.1000 trading range.

For today’s session, there are no major economic releases from both the EU and US economy for today, and the EUR/USD pair is expected to undergo a consolidation with bearish undertones for the rest of today’s session.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

GBP/USD Fundamental Analysis: May 2, 2017

Post by Andrea ForexMart on Tue May 02, 2017 10:37 am

Yesterday was a very slow trading day for the GBP/USD pair as the market holidays in Europe and Asia left several trading desks vacant, thereby decreasing the amount of market volatility. The currency pair had briefly attempted to test its range highs at 1.2945 points but then eventually dropped in value as the day progressed before finally closing down yesterday’s session at 1.2900 points.


There is little market volatility nowadays in spite of Trump being as crass as usual with regards to his public comments on Twitter regarding US relationships with other countries such as Russia and China, mostly because market players have somehow gotten used to the President’s attitude. As a result, the GBP/USD pair was largely affected since it still has no definite course of action as of late. However, it is only a matter of time before the expected surge of economic data which usually occurs during the first week of a new month. The GBP/USD pair is expected to exhibit more consolidation until all the scheduled economic reports are released within the week, starting from the FOMC minutes this coming Wednesday.

For today’s session, the UK economy will be releasing its Manufacturing PMI data during the EU session, with the said reading expected to follow the recent slew of positive economic data from the region during these past few months. If this indeed happens, then the cable pair could possibly test its range highs yet again within today’s session.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 03, 2017 7:03 am

USD/CAD Technical Analysis: May 3, 2017


The U.S. dollar against the Canadian dollar broke at 1.37 level during the Tuesday session. The oil market is not performing well which pulls the Canadian dollar along. The psychological level between 1.3.63 and 1.37 is strongly resistive as seen in the weekly chart which may not be favorable in selling the pair.


Besides oil concerns, the Canadian housing market is along being problematic particularly in Toronto and Vancouver area. There is a bubble market over the summer housing market with some of the shadow lenders starting to be affected as it drops to lows. This put the currency under pressure added to the oil market which complicates the situation further.
Pullbacks in the trend could open buying opportunities for the pair with the target of 1.40 level and may reach even up to 1.45 which is already expected for this summer.

However, if the pair breaks lower than the 1.36 handle, it is a sign to sell the pair but could be far from happening. Traders should catch on pullbacks which is would be a wise decision for this pair considering the oil market to trigger the pair to break lower.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 03, 2017 10:46 am

EUR/USD Technical Analysis: May 3, 2017


The EURUSD remained steady on its position as it trades in a comparably tight range regardless of the massive data from the European region such as unemployment and PMI.


While the agreement made in Greece together with IMF and EMU is expected to maintain the pair in a higher stand.


While central bankers were on the news and brought challenges towards Mario Draghi in pursuing a dovish sentiment. The pair extends its consolidation on the first day of Europe’s long weekend and created a bull flag pattern which serves as the pause to stimulate.


Traders are anticipated to postpone its action prior to the U.S Non-Farm Payrolls scheduled on Friday or the fulfillment of second-round election in France preceding the major to reach its renewed highs.


Resistance lies at 1.0955 close on its previous week’s high while the support came in at 1.0843 next to the 10-day moving average.


The momentum kept a favorable stance since the MACD were printed in black along with an upward sloping path reflected in the histogram. This event had influenced to the advancing positive trajectory pointing to a greater exchange rate.

An upward trend of the Relative Strength Index is seen at 67 posted on the upper side of the neutral range.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu May 04, 2017 8:45 am

EUR/USD Fundamental Analysis: May 4, 2017


The USD had a very positive trading session yesterday as a result of a positive economic dollar-related news. This then helped the dollar to eclipse the value of other currencies, and the EUR/USD pair was no exception. The currency pair had started out yesterday’s session on a somewhat slower pace as the market anticipated the release of important economic readings and had spent the majority of yesterday trading within its range highs. However, as the said financial data started coming in, the dollar was able to capitalize on this slew of good news and prop itself up higher, putting significant downward pressure on the currency pair which is now trading at just under 1.0900 points.


The first bit of good news came in the form of the ADP employment report, which surprisingly came out as expected, considering the fact that last month’s NFP report had failed to meet market expectations. Up next was the manufacturing report which also came out as positive, and this increased the USD’s value even more. However, by this point, the dollar was still somewhat at par with the value of the euro since the market chose to standby for the release of the FOMC meeting minutes. The said minutes were released halfway during the NY session, and since there was no accompanying press conference the market had no choice but to pick on the results of the minutes itself. The Fed did not give any indication of the schedule of the next rate hike, however it pointedly ignored the somewhat tame economic growth in the Q1, which the market took as a signal that the central bank might be preparing for another June rate hike. This triggered a dollar buy which pushed down the EUR/USD pair towards under 1.0900 points.

As of this point, the market is starting to price in a June rate hike although there are still no definite hints as of the moment. For today’s session, the market is expecting the release of the US unemployment claims data while Draghi will be speaking during the latter part of the NY session. There is little volatility expected today as the NFP report is due to be released tomorrow. The EUR/USD pair is expected to trade with bearish undertones for the rest of today’s sessions.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu May 04, 2017 10:01 am

GBP/USD Fundamental Analysis: May 4, 2017


The GBP/USD pair was unable to move past its resistance level of 1.2950 points, causing the pair to retreat under this region where it is currently situated. The construction PMI data was released yesterday, and this particular bit of data had exceeded initial market expectations, adding up to the string of positive economic data coming in from Tuesday’s session. These series of data was able to help keep the sterling pound under its bid price and traded in a relatively steady trading manner during the first few hours of yesterday’s session.


The ADP employment report as well as the non-manufacturing data came in next, and these helped to further strengthen the stance of the USD as they both were able to meet expectations. The FOMC minutes were then released hereafter, wherein members of the central bank chose to snob the results of the Q1 GDP data, which was taken as a bullish mark for the USD since a large-scale buy was triggered during the NY session. The GBP/USD pair then plummeted  through 1.2900 points and is now trading at 1.2875 points. The pair’s support levels are situated at 1.2850 points and since the NFP is expected to come in during yesterday’s session, the cable pair is expected to be able to maintain its hold on this particular region while it continues to consolidate.

For today’s session, we have the UK economy’s services PMI data as well as the US economy’s unemployment claims data, both of which are expected to induce volatility in the currency pair. The market is not expected to have much activity today as there is an influx of economic data scheduled for tomorrow.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu May 04, 2017 10:30 am

USD/JPY Fundamental Analysis: May 4, 2017


The USD/JPY pair traded just within the reaches of its six-week high as the Fed refused to remove the possibility of a June rate hike, although the country’s economic growth weakened during the previous quarter. The Fed chose to maintain its current interest rates and had highlighted the positive outlook for the labor market during its two-day meeting, which could possibly be an indicator that at least two more interest rate hikes are scheduled to be carried out within the year. The USD/JPY pair closed down the previous trading session at 112.759 points after increasing by +0.69% or 0.0770 points.


The current Fed statement and the previous statement do not have any stark contrasts except for the central bank choosing to ignore the GDP data this time. The futures markets are now pricing in a 93% probability that the Fed will be implementing an interest rate hike this coming June. The next FOMC meeting is set on June 13-14 which will be followed by a press conference from Janet Yellen. Based from the Fed’s meeting minutes released yesterday, the Fed could possibly raise its interest rates by up to 25 basis points up to three times in a row before the year ends. If this indeed happens, then the US dollar would eventually become a very attractive and a very lucrative investment for market players.

For today’s session, market volatility will not be expected to to increase since the majority of market players will be saving their energies for the release of the NFP report this Friday.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri May 05, 2017 8:07 am

NZD/USD Technical Analysis: May 5, 2017


The New Zealand dollar dropped during the Thursday session. The market has gone bearish because of the commodity market and the jobs data to be released. Traders should not forget that the price trend for the kiwi dollar would be influenced by the commodity market. The current trend could go higher reaching the 0.68 handle and short-term surge would mean selling opportunity. If the price breaks lower than the psychological level, the price would go downward instead. Traders should anticipate high volatility in the market but would be favorable for the U.S. dollar since the awaited jobs data to be released today.

The Future market also influences the currency although would not be directly influenced with any market. One could find a correlation between milk futures and the kiwi although it would not do much since the liquidity isn’t  that high. The safe way is to compare with other commodities to determine how this currency will move and its overall tone in the market and wait for a short-term surge. It is possible to reverse the trend when it breaks higher than the 0.69 level and turn bullish as a follow through and climb higher.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri May 05, 2017 11:08 am

USD/JPY Technical Analysis: May 5, 2017


The U.S. dollar against the Japanese yen had a high volatility during the Thursday session. The market tried to break higher than the 113 level but failed that makes it much safer to be patient and wait on the sidelines until the jobs data has been released. Moreover, the bullish tone will persist in the long term.


There is a significant support found close to 112.50 level which may be better to move upward although this will be unexpected. The 112 region will be massively supportive but it still might shift when the jobs data results is negative. The labor report is anticipated to give 185,000 jobs for the month of April which the market in now focused on.


It is most likely that this pair will be influenced by the jobs data and if the results are positive, the pair will follow through.if the price breaks higher than the 112 level will be a relevant move while a break at 113 level could further bring the price at 115 level which is the former peak that is in consolidation. More noise in the trend would also impact the trend and make it more difficult to trade during the day. If traders would sway with the ongoing volatility, there is a chance for long term trades. Traders could buy the pair multiple time as it moves towards the 115 handle.

There is not much pressure anymore for the USD/JPY pair as its reach new weekly top during the Thursday session. The uptrend halted at 112.75 which is the psychological level for yesterday and the following morning. Buyers tried to test the 113.00 level prior to the New York opening. The resistance level resides at 113.00 level while the support is found at 112.00 region. The 4-hour charts are showing positive signs. If the bulls were able to break higher than the 113.00 level in the next sessions, the next possible target would be at 113.50 level.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue May 09, 2017 4:15 am

NZD/USD Technical Analysis: May 8, 2017


The New Zealand dollar against the U.S. dollar initially rallied for the past week. The 0.69 level was seen to give significant resistance which hints the possible continuation of the uptrend. However, this is not a good indication for commodities which highly influences the currency. On a good side, the crude oil surge for a while during the Friday session. Yet, the commodity market could remain subdued which would then decreased the demand for kiwi. It won’t take long that this pair would further decline. If the pair breakdown lower than the 0.6850 level, the next level would be at 0.67.


Short-term rallies for this pair opens more opportunities which will soon push forward. The pair hovers at 50% Fibonacci retracement level and it is anticipated to have a lot of noise down beloW. However, if the pair breaks down from the expected level, this implies that the pair is not strong enough.

On the other hand, if the pair breaks more than the 0.7030 level, the price could extend up to 0.73 handle or higher. The pair is much more directed to the go downward instead. Traders should look out for commodity market which will influence the currency in the next trading sessions and it may be difficult to go long for long-term in this pair.  
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

GBP/JPY Technical Analysis: May 10, 2017

Post by Andrea ForexMart on Wed May 10, 2017 10:38 am

The British pound paired with the Japanese yen rallied during the Tuesday session. The market reached the 147.50 level and tries to reach the 148 handle. There is still a lot of space to climb higher towards the next target of 150 handle. Later on, the 147 level could become a support level.


Amongst a basket of currencies, the Japanese yen sells off the most and sensitive to risk appetite as a whole. Traders should not forget the pair to be volatile and long-term deals is predominant in traders.

The market should also monitor the stock market which is performing well relative to indices such as the S&P 500. Although, traders should expect volatility as it climbs higher and it seems that there is sufficient buying pressure to push the price higher. Nevertheless, reversals open opportunities to gain for this pair, especially for yen related market. It may not be advisable to sell this for now with buyers leading the market. There is still risk appetite which could induce the pair to further go up.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 10, 2017 11:38 am

USD/JPY Technical Analysis: May 10, 2017


The U.S. dollar against the Japanese yen rallied as it broke at 114 handle. This would most likely move higher towards the 115 level which has been the peak of the last consolidation region and it would not take that long before the market reaches it. It is anticipated for a reversal to occur from now and then which will serve as buying opportunities in the market, most especially that there is a tone of bullishness seen in the trend. Volatility fluctuations is also expected that determines the weakness of the yen.


Price reversals could turn into an opportunity for this pair especially since the Japanese yen performs well in the market. Although, It may not be favorable to go short in this pair. The 113.30 region is being strongly supportive but there is a lesser possibility to go low to this level. It wouldn’t take long for buyers to return.

If the price breaks higher than the 115 level, this could move towards 118 handle. Although, it needs more momentum from the traders to reach this level. Hence, it may not be good to sell this pair for now.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 10, 2017 12:00 pm

USD/CAD  Technical Analysis: May 10, 2017


The U.S. dollar paired against the Canadian dollar started flat during the Tuesday session as the oil market being calm but not too long. It was reversed and directed downwards. Another factor is the Canadian building permits that brought movement following its negative reports.


On the other hand, the U.S. dollar surged against the Canadian dollar as it breaks over the 1.37 level. The Resistance level was retested at 1.37 region and the 1.3750 level is being strongly resistive that prevents the pair to climb higher. The market has been very bullish for a long term and it won’t take long before the market reaches the 1.38 handle. A few days ago, there has been a selloff of this pair and if this occurs again, the pair could further go up.


The pair will continue its downtrend from 1.3793 and the uptrend from 1.3641 is a form of consolidation in the downtrend. This could be followed by consolidation towards the next target of 1.3550 level. A break over the 1.3793 region could trigger the price to go up towards 1.3900.


Reversals could attract buyers in the lower channel especially towards the 1.37 handle which has been a resistance before. It is possible for this level to turn into support region for the pair. The long-term trend becomes bullish although the oil market has uncertainty.

The crude oil inventories are about to be released to say which would most likely affect the trend. Reversals could serve as buying opportunities for this pair although the greenback is more favored over the Canadian dollar. Concerns in Canadian housing would add more hesitancy to the interest of the market to Loonie.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Thu May 11, 2017 11:48 am

EUR/USD Fundamental Analysis: May 11, 2017


The EUR/USD pair continues to exhibit an intermittent trading action, which has been the pair’s dominant price trend ever since the beginning of this week. The market had initially expected the currency pair to start off this week with a bang and consistently exhibit a positive trading stance throughout the week due to Macron’s recent victory in the French polls, but as of now the currency pair is on the backfoot as its bulls have decided to retreat and take out profits in order for them to purchase the EUR/USD pair lower as it continues its correction.


In addition to the EUR/USD pair’s weakness, the greenback has also been strengthening across the board as traders are now about to conclude their June rate hike pricing. All of these factors has caused the EUR/USD pair to exhibit corrections at under 1.0900 points. However, during the past two days, the currency pair has been either ranging and consolidating or exhibiting a choppy price action, which is an indication that the market is attempting to create its own base. The currency pair is expected to create a base for another bullish attempt as the after-effects of the most recent rate hike is now losing its relevance and the improvements in the EU economy is now starting to become more evident in the market.

For today’s session, there are no  major news releases from the EU although the US economy will be releasing its unemployment claims and PPI data, although these are not expected to make a significant dent in the current status of the currency pair. The EUR/USD pair can be safely expected to remain its choppy action at the 1.0850 trading range throughout the day.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri May 12, 2017 10:39 am

AUD/USD Technical Analysis: May 12, 2017


The Australian currency showed some interesting trading session and had an initial downturn corresponding with the actions of the New Zealand dollar. A bit of rally had started as we look forward to found further resistance within the 0.7380 handle.


The Aussie appeared to be caught off guard as of the moment because of the rally occurred in the gold markets along with the partial decline of the US dollar.


In case that the precious metal would reverse and drop, the AUD will continue to weaken as well.


The commodity currencies may not be so attractive at this time since some of them are quite falling considering the CAD and NZD to have a softer stance while the Norwegian Krona also appeared to be dull. Not to mention the Mexican peso which starts to be weak again.


In order to initiate the selling, exhaustion and near-term rallies are to be found that may allow for a successful break above the region 0.7425.

Moreover, the volatility would extend that will offer value for the greens in which seems favorable for us. In case that we create a gap under the lows once again, the market is projected to move near the 0.72 handle, en route 0.70.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon May 15, 2017 10:29 am

USD/CAD Technical Analysis: May 15, 2017


The USD/CAD moves like from pillar to post last Friday and continuously grinding above 1.37 handle. Meanwhile, the oil markets appeared to be disorganized as of the moment. We are directly standing above the channel while a pullback is inessential, however, when this price movement occurred then a move to the lower area would likely follow. Possibly down to the region 1.35 and moving through the mark 1.3250. Contrarily, a break over the channel, particularly in the 1.38 handle, will cause the market to trail atop of the level 1.40. Mainly, the oil markets should be given much consideration as it extensively weighs to the Canadian dollar.


Moreover, the commodity-linked pair is expected to be choppy but it looks like that the oil is in action at this time. The housing market in Canada shows some uncertainties while concerns may arise since the history of the US housing bubble were still remembered clearly by many traders.


The markets should consider sustaining a volatile session, however, the general uptrend will continue to drive through the upside in the longer-term. It further allows the longer-term and steady traders to acquire gains on top of the 1.40 range.

It is recommended to seek for pullbacks which provide value upon getting the chance as the greenbacks continued to be favored by the North American currency.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon May 15, 2017 11:48 am

GBP/USD Technical Analysis: May 15, 2017


The Cable decline within the week as it tested the bottom of the hammer in the past week. The range 1.2950 appeared to be resistive, moving near the 1.3 region. A break over the mentioned level will push the market around 1.3450, wherein a previous resistance was seen.
A cut through in that area would likely be bullish, however, there is a significant level of support found at 1.2750 range.


To be honest, it will be a tedious job to grind below just like breaking upwards. The short-term trading could possibly the simplest thing to accomplish since the market has high possibility to consolidate amid the two regions.


A move in the long-term is anticipated and a needs to break out within area to execute the trade. Meanwhile, a range bound short term is predicted as it will remain to take notice.
Moreover, a breakdown underneath 1.2750 will cause the market to continue to slide.


A significant amount of support can be found below, however, it would appear like the  longer term downtrend resumption.

The British currency is currently surrounded by lots of dynamic strains, hence expect for a complex trend over here. In light of this, we decided to allow the market to take an action deliberately.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon May 15, 2017 12:14 pm

EUR/USD Technical Analysis: May 15, 2017


The EURUSD edged upwards amid Friday sessions as it cleared up the top of Wednesday and Thursday candles followed by the release of the less than stellar figures of United States. In light of this, the market would likely touch above the 1.10 region which the resistance.


A gap over the mentioned area indicates a bullish tone, probably moving towards the 1.13 range trailing to 1.15 eventually.


The market consolidated in the midst of 1.05 and 1.15 levels in the past years. We are currently located in middle of the trading range which is close to the “fair value” which results for a complex trading setting in the near future.


The back and forth trading in the near-term is highly anticipated for the next few sessions. While short-term charts will also lead forward since consolidation is required in the overall region.


A gap overhead the 1.10 area will trigger further purchasing interest. However, a break below the 1.0750 mark will drove to 1.05 handle.


The market is projected to be very volatile and uneasy to trade, mainly because of the concerns that the European Union are currently involved with the United Kingdom together with other nations.

Despite the results, it is vital to maintain your stop loss take, and take note that the market is somewhat aimless in the long-term.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue May 16, 2017 11:01 am

USD/JPY Fundamental Analysis: May 16, 2017


The USD/JPY pair experienced a turnaround during yesterday’s trading session after a sudden high demand for high-risk assets manifested during the earlier parts of the Monday session. The JPY was initially boosted by flight-to-safety buys but immediately disappeared as market investors chose to shift their focus to the surge in US equity markets. The USD/JPY pair closed down yesterday’s session at 113.787 points after increasing by +0.41% or 0.464 points.


Investors were generally worried with regards to Trump’s unexpected firing of FBI Director James Comey, the cyber-attack which made headlines last Friday, and the ballistic missile launch from the DPRK. The currency pair then began to hit rock-bottom after traders were practically unresponsive to these recent developments. This price action from the USD/JPY shows that investors might have become somewhat oblivious to these said developments. In fact, the cyber-attack was able to benefit the market after tech giants such as Cisco posted gains following the said online attacks.

For today’s trading session, investors will be waiting for the release of industrial production data, mortgage delinquencies data, building permits, capacity utilization data, and housing starts data from the US economy. If this specific set of data comes out as a market disappointment, then the chance of the Fed implementing more rate hikes in the future might be lessened, although the June rate hike has been pretty much priced in by the market already. In any case, this could also cause the US dollar to drop further in value.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 17, 2017 6:37 am

EUR/USD Technical Analysis: May 17, 2017


The EURUSD raise higher because of the support of a strong growth and below-than-expected data in the housing number of the United States which brought an impact towards the U.S Treasury yields, hence placing a downward pressure to the American dollar. The sales of US chain stores keep worsening that caused for the greens to move lower.


The Europe started to gain more confidence with hopes that the European Central Bank is going to remove the quantitative easing.


The pair climbed upwards reaching 0.9% near the mark 1.1080. The price was cut into the downtrend sloping line moving close to the support region 1.0990.


Further support is found alongside the 10-day moving average approaching the 1.0940 level. The target resistance can be spotted at 1.1299 touching its November peaks. Moreover, the momentum was positive since the moving average convergence divergence (MACD) histogram formed a crossover signal to buy. This is the result of the spread that crossed over the 9-day EMA of the spread.

The histogram shifted from negative to positive area indicating a buy signal. It also printed in the black along with an upward sloping trajectory and turns to a higher rate.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 17, 2017 8:21 am

GBP/USD Fundamental Analysis: May 17, 2017


The sterling pound’s bulls experienced a very harrowing trading day yesterday after the GBP/USD pair was unable to make any significant progress even after all the other major currency pairs were able to take advantage of the greenback going on backfoot. The cable pair remained within a very limited trading range and was unable to even advance towards its range highs, much less surpass this particular range. Several geopolitical issues has caused the dollar to drop, however, the GBP/USD pair did not have enough fuel for it to actually gain from the dollar losses.


The US housing data fell short of initial market expectations, and this proved to be somewhat damaging for the interest rate bulls who had already priced in the possibility of a June rate hike from the Fed. However, the market was more affected by news  that Trump had apparently leaked top-secret information to the Russian government straight from the Oval Office, in addition to reports that Trump has apparently been caught dipping his fingers into a certain continuing investigation. These series of events triggered a massive dollar selloff, and while other major currencies such as the EUR were able to make use of this particular development, the sterling pound barely moved from its original position. The GBP/USD pair only slightly advanced from 1.2900 points and is now placed at just under 1.2950 points and does not look like it could induce a rally anytime soon. This is an indicator of just how weak the currency pair as of the moment and it could only be a matter of time before things take a turn for the worse.

For today’s trading session, there are no expected releases coming from the UK economy although international geopolitical events could possibly dominate the market for today. However, the GBP/USD pair is not expected to exhibit that much volatility given its recent weakness, and the pair should start a rally soon in order to placate any risk of the pair’s current standing taking a turn for the worse.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 17, 2017 10:46 am

AUD/USD Technical Analysis: May 17, 2017


The Australian dollar closed higher than the U.S. dollar during Tuesday session. Investors responded to the raising concerns in U.S. with lower U.S. Treasury yields, feeble U.S. housing data and a lesser possibility for a Fed rate hike in June. The overall direction of the pair will depend on the Treasury yields. Traders reacted pessimistically to Westpac Consumer Sentiment dropping up to 1.1.%.


There are no major U.S. economic reports to be released today. Traders continuously keep an eye on problems with Trump regime and they have the chance to react to the most recent weekly inventories data of U.S. Energy Information Administration.


The main trend is directed downward as shown in the daily chart. The pair is trying to move higher from the .7329 low on May 9 although the momentum remains the same. To reverse the trend, traders need to impede the short-retracement zone between .7442 and .7469.
Traders should also look out for the resistance level as a strong resistance region is formed at .7454 with major 50% level. The closest support resides at .7384 key Fibonacci region followed by .7329 down below.


The current price level set at .7419 and stays between the resistance and support levels which means that traders have uncertainty and expected volatility in the market.


If buyers try to oppose the trend, the next psychological would be at .7443 and .7446 region then moves to .7449 and .7454 and will most likely gain momentum at .7454 towards the next target at .7469 level. The .7469 Fibonacci level at .7469 would be the turning point for the next downtrend towards .7501 angle.


Underneath, the initial support target would be at .7389 uptrend angle followed by a major Fibonacci level at .7384 and lastly towards the .7329 as the probable bottom support angle. However, if the market fails to attain this level, there is a high possibility for a breakout at .7359.

Until buyers return in the market and exceed the .7469 level, there will be least resistance and rallies will be fruitful in the market. This will affect the price trend whether it will be reversed or not. Currently, the market gives off a neutral stance.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

AUD/USD Technical Analysis: May 19, 2017

Post by Andrea ForexMart on Fri May 19, 2017 8:07 am

The Australian currency experienced a volatile session yesterday due to an initial shot higher with gold. But decided to sell off as the market needs for another leg found at the 0.74 handle, the support was found but rebounded.


The market appeared to be slightly mixed-up as of the moment and attempted to estimate the risk of the political uncertainties in Washington DC.


Based on a longer-term perspective, the market needs to maintain a bullish attitude only when the gold markets engage in the rally. It remains to have lots of noise though, a smaller position would be better while the Aussie continued to accelerate.


Meanwhile, charts showed some activity of buying on the dips which could be a good idea in trading in the market.


The level below 0.74 must provide a massive support because a breakdown under this range will generate a negative signal. Consider the potential gap within the upward bias, so it is advisable to hold for small positions on near-term charts generating short-term gains.


In case that we cut through above the mark 0.75, it will favor for a longer-term position. In this point in time, riding the market would let you experience emotional highs and lows.

As indicated in the previous charts and sessions, making money is easy in both directions but the market is currently choppy. It does not offer any signs as of now, causing the participant to endure difficulty in driving the market.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri May 19, 2017 8:20 am

GBP/USD Technical Analysis: May 19, 2017


The national currency of Britain climbed higher as the data of retail sales presented stronger figures beating expected result.


The level 1.30 contained some amount of psychological significance. A break out on top of it provides signs of bullishness. With that being said, the market is expected to move higher on a longer-term however the overall place appeared to be complex.


There is a likelihood that the market will trail upwards hitting the region above 1.3450.
The stronger statistics of the retail sales could be linked on some side of inflation because the figures and U.K suddenly gained greater strength.


We could still experience pullbacks occasionally and it should provide buying opportunities intended for longer-term traders.


A huge increase throughout the day indicates a bullish sign while trends could possibly break and when it happen, the market may need to take some time to rest.

The downtrend is over for the GBPUSD however, plenty of noise are needed to beat amidst the current range together with the mark 1.3450 which requires patience and diligence.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Fri May 19, 2017 10:32 am

USD/CAD Fundamental Analysis: May 19, 2017


The USD/CAD pair continues to exhibit a very steady trading manner during the previous session and seems to be largely unaffected by the currently very high volatility levels in  the market. In spite of the recent turmoil affecting the US government and a spike in oil prices, the loonie seems to be unaffected by this and remains trading on both sides of 1.3600 points in a very choppy price action with no indications of a possible change in direction.


The recent surge in oil prices has kept the USD/CAD pair buoyant, and this is why the currency pair has stayed within the reach of 1.3550 points. The pair’s consolidation is expected to continue until the next few days since oil prices have already increased in the short-term. Meanwhile, the greenback could possibly backfoot across the board since the possibility of a June Fed rate hike has dimmed somewhat. If this indeed happens, then the 1.3550 range will become a very critical region to surpass and until the USD/CAD pair goes past this range, then it can be safe to say that the pair’s uptick is most likely to remain in the short-term. Otherwise, the currency pair could possibly revert to its previous range and could resort to a bearish consolidating price action.

For today’s session, the Canadian economy will be releasing its CPI data and retail sales data, both of which are expected to induce volatility in the pair’s price action.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon May 22, 2017 11:03 am

NZD/USD Technical Analysis: May 22, 2017


The New Zealand currency experienced a volatile session amid Friday trades as it broke on top of the 0.69 handle. A grasp to the level 0.6950 was highly resistive which is better than all the range for the previous weeks.


A break on top this region is considered significant looking forward through the top of 0.70 mark, this also allows the market to drive higher.


Moreover, the market would likely maintain its volatility and choppiness. The kiwi was highly sensitive against the risk appetite which appeared to be unpredictable at this moment. With that being said, the thought that the NZD will be one of the complicated currencies to trade is possible. The “risk on” sentiment has returned in the market favoring the profits for the buyers.


Moreover, the market will remain choppy and volatile for the next hours and the 0.6880 region below contains a massive support.


The “buy on the dips” will further extend, however, headwinds on top of it are within reach. In this case, the market has to provide lots of trading opportunities intended for the scalpers but the short-term traders will remain to draw attention towards this.

There will be some struggle that longer-term traders will experience, in order to search for a suitable position. Therefore, holding a trade for a lengthy period is difficult as there could probably some real size ongoing.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon May 22, 2017 11:16 am

GBP/USD Technical Analysis: May 22, 2017


During the Friday session, the pair GBPUSD remarkably did well since an extreme and rapid price decline occurred on Thursday. While an uptrend is tested, however, a turnaround was carried out promptly.


As the traders calm down, the market eventually break out in the upside hitting the top of the 1.30 region. In the previous trades, a renewed highs were formed and the Britain’s currency would likely look forward through the 1.3450 area that has consolidated in the longer term.


A break on top of the range 1.30 seems significant and the flash crash happened on Thursday still not clear which brought fears to many people. Moreover, the uptrend line amid that sudden drop matters a lot and it appears that the 1.29 mark can be the acting basement of this market.


The choppiness was still expected to continue but the market may indicate a bullish attitude.


The pullback eyes some support within the level 1.30 but a breakout towards a fresh peak would trigger a buying behavior.


The GBP attempted to change its general trend in the upside which could go a long way throughout establishing trend confidence.1

In addition, the uptrend will continue since the moving averages drove to the upside and selling is not an option at all. While a move forward would pave the way for the “buy on the dips”.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Mon May 22, 2017 11:58 am

USD/JPY Technical Analysis: May 22, 2017


The U.S. dollar against the Japanese yen broke in the upper than stabilize the currency pair during the Friday session. This indicates that the market had adjusted with the minimal risk this weekend which is a positive thing.The trading has been strong which is being monitored by traders and they try to bring the price higher than the 112.50 level. Although, as of the moment, the trend is currently in accumulation. If the market could break higher than the 112.50 level would give a bullish tone in the market and would move the price continue to 114 level. This would even go higher when the Federal reserve decided to bring the interest rates higher and this possibility of raising rates caused selling early this week.

The U.S. jobless claims declined which is one of the major directives of Federal reserve that would most likely impede the interest rate hike. Others would want to be dovish or totally forget about it but it is not plausible to do so as the U.S. has eased monetary for the past years and is not exemplifying expected results. On the other hand, the employment is being tight indicating the strengthening of the economy which would bring the interest rates higher as expected.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Tue May 23, 2017 11:44 am

USD/CAD Fundamental Analysis: May 23, 2017


The USD/CAD pair has been exhibiting a very disappointing price action ever since it was able to test its range highs at 1.3800 points during the start of this month. The currency pair has been suffering from the repercussions brought about by the greenback’s weakness and the strength of the loonie which was mostly due to an oil price surge. This oil price increase was able to cover up the actual occurrences within the Canadian economy and has provided enough leverage for the loonie to advance, and this is why the USD/CAD pair has been consistently dropping value during the last two weeks.


As of the moment, the currency pair is now within a very critical region of 1.3500 points, where it continues to look very weak. The weakness of the greenback has been the dominant market trend as of the moment, with the dollar getting adversely affected by Trump’s political woes, which in turn has affected the US economy as well as its monetary policy. The market had initially priced in a rate hike this coming June, but with the recent slew of dismal events, it looks like the market’s players might have to put off this interest rate hike at least for now. In addition, the rising oil prices has helped the loonie to retain its positive image amidst Canadian banking concerns, wherein the majority of Canadian banks have been given the thumbs-down by ratings agencies. The loonie strength has also helped to offset the concerns surrounding the HCG and the housing sector.

For today’s session, there are no major news releases coming from both the US and the Canadian economy, although some Fed officials will be making statements today with regards to the US monetary policy. All these are expected to add downward pressure on the USD/CAD pair and cause the pair to test its support levels.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Andrea ForexMart on Wed May 24, 2017 7:32 am

EUR/USD Technical Analysis: May 24, 2017


The EURUSD attempted to move through the higher region on Tuesday, however, failed to maintain its gain upon reaching the level 1.1268. When the profit taking started the pair was pushed beneath the 1.12 handle.


Meanwhile, the stronger report of GDP and sentiment data buoyed the EUR/USD and the yields turned up in Europe as relating to its American counterparts. Moreover, the PMI readings kept unchanged in the month of May, as the German nation lead the charge that reflects towards a strong growth.


The major pair touched the higher high as it eclipses the prior day high using 5 pips. The resistance is found at 1.1299 level close to November 8 highs and in case the level will be broken, it would lead to testing 1.1365 region near its August highs in 2016.

The support entered the mark 1.1603 around the 10-day moving average. Momentum is slow-moving, seeing the moving average convergence divergence (MACD) print in the black together with a descending trajectory that drives towards the consolidation.
avatar
Andrea ForexMart

Female
Number of posts : 617
Location : Russia
Reputation : 1
Points : 621
Registration date : 2016-10-03

View user profile

Back to top Go down

Re: Daily Market Analysis from ForexMart

Post by Sponsored content


Sponsored content


Back to top Go down

Page 6 of 8 Previous  1, 2, 3, 4, 5, 6, 7, 8  Next

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum