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 7 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 Wed May 24, 2017 10:01 am

USD/CAD Technical Analysis: May 23, 2017


The USDCAD experience volatility during Monday’s session and had an attempt to rally, however, it made a reversal plunging under the region 1.35. The pair is relative to the crude oil markets and received a significant support upon the opening, while the OPEC seems to move nearer the deal regarding production cuts.


Having said that, the greens decline versus its Canadian counterpart which is the proxy of currency traders against the oil markets.


The ability to break down around it will allow the market to reach the 1.34 handle. However, a cut through the top of 1.3550 area will touch above the range of 1.36. This range is significant for the longer-term charts, and a broke within that area enable the market to drive upwards.


The volatile market is expected to continue considering the current condition of the oil coupled with Canada’s housing that brought an impact as well.


Sellers have executed a significant action as well which could give a chance to break 1.3550. But there is no such opportunity to initiate a long move, except that the higher timeframes (daily or weekly charts) could obtain a longer-term signal

According to forecasts, rallies will resume and will be providing opportunities to sell towards a market that experienced a lower grind in the previous sessions. Lastly, a gapped in the upside has to be accompanied by the oil markets that were rolled over.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 10:56 am

AUD/USD Technical Analysis: May 24, 2017


The Australian currency against the U.S. dollar broke above the 0.75 level but was also reversed soon after. If the price breaks lower than the 0.7450 region, the price would further decline. This is also similar for the long-term trades.


The gold market directly influences the pair including the risk appetite for these trades. However, it seems that the gold market is not performing well. The raw material trades from Australia supplied within Asia is also falling since there is low demand for copper and iron which are the fundamental trades of the country.


In a long-term trend, it seems that the market sustains the current trading condition. Its downtrend could attain up to 0.70 level for long-term. If the price breaks higher than the 0.7525 region, it could reach its way about the 0.7750 level for a longer term.

However, reaching the said level won’t be easy. Although, the market usually change position in a bullish pattern and makes it more complicated when the market worries. This is what anticipated to happen when the price soars that makes pullbacks not surprising anymore. The uptrend line is noticeable on the hourly chart and a break lower than the 0.7450 level would bring the price down with an increase in bearish pressure.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 26, 2017 9:08 am

USD/CAD Fundamental Analysis: May 26, 2017


The USD/CAD pair has been projected to be highly dependent on the state of oil prices as well as the OPEC meeting held yesterday, and in fact, the loonie skyrocketed in value as the OPEC meeting concluded yesterday’s meeting on a somewhat dismal note as far as the markets were concerned.


The market had initially hoped that the OPEC members would approve an extension of the production cuts since the majority of them are expecting deeper production cuts in the future. However, what the OPEC members did was to extend the production cut deal for another 9 months, with both Iran and Libya given an approval to maintain its current status quo. This turned out to be a huge disappointment for the market in general, and this caused oil prices to drop after a large selloff occurred. This was then especially unfavorable for the Canadian dollar, particularly for the Canadian economy as its fate relies on oil prices. As of the moment, the USD/CAD pair has reverted by 80 pips as the loonie starts to drop in value. The currency pair was also propped up even more by the dollar strength and now the pair is back at its support-turned-resistance level of 1.3500 points. The market will now be monitoring how this pair closes down this week’s session since if it manages to close down at over 1.3500 points, then this is an indicator that the bulls have regained control of the pair and the USD/CAD could possibly be poised for more increases. On the other hand, if the pair closes down at under 1.3500 points, then this means that the bears are now dominating the pair and the market might have to brace themselves for more selling at least in the short-term.

The US economy will be releasing its durable goods data and its Preliminary GDP data within the day, although traders are advised to sit back and wait for the session to close down before making any significant moves.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 26, 2017 9:23 am

GBP/USD Fundamental Analysis: May 26, 2017


The strength of the greenback has been the dominant market trend during the previous trading session. In addition, the bulls of the GBP/USD pair are also having a hard time with regards to keeping the value of the cable pair afloat, which is seen on how the bulls had repeatedly attempted and failed to break through 1.3030 points even though the USD has clearly dropped in value. This development shows just how the bears are slowly gaining the upper hand with regards to taking control of the cable pair.


But on the bright side, the drop in the cable pair’s value was not as much of a crash as initially expected since the pair’s drop has been somewhat slow and steady. But then again the corrections of the pair is now starting to get more significant, while its reversions are becoming more and more shallow, which is an indication that the pair’s bears are indeed taking over the currency pair. The GBP/USD pair was unable to even reach the 1.3000 range as the greenback starts to regain more strength due to the market re-pricing the interest rate hike next month.

For today’s trading session, the market is expecting the release of the Preliminary GDP data and the durable goods data from the US, while the British economy is not scheduled to have any economic releases for today. The GBP/USD pair is then expected to remain under pressure for the entirety of today’s trading session.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 26, 2017 10:07 am

EUR/GBP Technical Analysis: May 26, 2017


The Euro against the British pound had a very choppy trading during the Thursday session as the market is attempting to push the price higher which could eventually break later on. There are also some pullbacks seen in the short-term which supports the current trend and gather enough impetus and volume to reach higher levels. If the price breaks higher than the 0.8675 region, the current trend will move upward reaching the 0.88 level that is relevant for long-term as shown in the charts.


Those reversals would gain more appeal to the buyers as it closes near the 0.86 support level which was supportive in the past. There’s an option to wait for a breakout first to lift it higher which implies bullishness in the trend which is beneficial for buyers.

The market is choppy influenced by the two economies and commentaries from both countries bringing a lot of noise in the market. Yet, the trend remains resilient as it is directed upwards although there are pullbacks every now and then. If the price breaks lower than the 0.8550 region, the market is anticipated to roll over. This is most probably because of major events which are usually unexpectedly fast when it happen. Overall, the buyers seem to dominate the market.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 29, 2017 8:51 am

GBP/JPY Technical Analysis: May 29, 2017


The British pound paired against the Japanese yen declined during the Friday trading session following the release of election polls much tighter than expected in Britain. Everybody expects the political route the way forward when it comes to leaving the European Union still leaves some doubt in the minds of the people.


The pair is usually sensitive to risk appetite that worsens the selling pressure. As the price breaks through the 143 level, the price would decline much lower towards the 142 handle as the market reaches to the support below. If the price surges from here, this would open more selling opportunities.


Traders should monitor the global risk appetite including the stock market, futures market and the condition of the British government and its currency, as these would affect the pair. As of now, the pair is moving downtrend searching for a significant level at 1.2750.

If the pair is able to stay in the upper region, the current trend could be reversed to find support below. Alternately, the price could decline towards the next significant support at 140 handle. Buyer should look to the long-term charts before placing orders. Overall, the market will be highly volatile and traders might want to consider major pairs related to the British currency for a faster turn around.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 29, 2017 9:14 am

NZD/USD Technical Analysis: May 29, 2017


The New Zealand dollar against the U.S. dollar has had a flat trading in early Friday but when the buyers returned, the price rose towards the 0.71 handle and above. Short-term pullbacks offer value in the market as the market tries to reach higher levels.


The 0.70 level gives off massively supportive until the price breaks lower which makes it complicated selling. Buyers will proceed with going long as the market is open climb higher although the pair is still involved with high risks. It is anticipated that the pair will most likely decline from here onwards that makes the pair more susceptible to risks.


There is a strong upward pressure for this pair and volatility would increase even more. The New Zealand dollar is highly sensitive to the overall commodity market that makes is important to monitor the commodity market not necessarily a certain commodity market.

There is high volatility in the market which will reflect in trading this pair. With the political concerns from the Washington, D.C., the pair is expected to be influenced despite its almost daily occurrence. Hence, traders should still be cautious that makes short-term trades more advisable to trade to make through the current problems concerning this pair.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 29, 2017 10:08 am

USD/JPY Technical Analysis: May 29, 2017


The U.S. dollar against the Japanese yen declined during the Friday session. It reached the lowest level of 110.80. If it bounced back, this will signal a bullish trend but this would not be easy to attain as there is high-risk appetite especially for this pair. The 110 level gives off a massive support but is the pair breaks lower, the next level would be at  108 region at a quicker pace because there is a still remaining gap that has not been filled.


In  the long-term, this pair will most likely go higher although it may take some time since the 112.50 is strongly resistive. A break higher than this region would be beneficial for scalpers to take advantage of bulls interested in the U.S. dollar.


Traders of this pair should monitor the S&P 500 index as this would have a big influence to the pair. If the index rises, this pair follows. Moreover, the chances for a Fed rate hike puts a bullish pressure for the pair. If it did not take place, it might be a problem for the pair although it is most likely that this would happen with its stature at stake.


Pullbacks every now and then offer long-term opportunities but for short-term, this gives off bearish volatility/ This could persist for some time especially with the major events concerning geopolitical problems occurring from Europe and the U.S.

Overall, the pair moves in an uptrend from 110.23 level and a decline from 112.13 will indicate a correction. It is expected to rise again following the correction towards the 113.50 level. The near-term resistance is found at 111.70 and a break to this level would mean a continuation of the uptrend. On the other hand, the support region is positioned at 110.80 and 110.23 and a break from these levels would push the price back again from 114.36 level.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 30, 2017 8:09 am

EUR/USD Fundamental Analysis: May 30, 2017


It was a market holiday on several parts of the world yesterday, and the absence of market volatility due to the said holidays was felt throughout the market during the previous session as most of the major currency pairs consolidated and traded within a very limited range yesterday. EUR/USD traders had only one thing to look forward to during the duration of yesterday’s session, which is Draghi’s speech wherein he made his usual statements on the lessening of downward pressure on the EU economy, although this had little effect on the EUR/USD pair’s current standing.


What affected the value of the currency pair was the news that Greece is now prepared to abdicate the following bailout fund if the EU will still be unable to reach middle ground as far as the conditions were concerned. This then caused the EUR/USD pair to correct towards 1.1120 points during the latter part of yesterday’s session. As of the moment, the market is still experiencing very low liquidity levels as the Chinese market remains to be on a holiday, and as such, traders are advised to take all market movements today with a grain of salt. In addition, the market will also be experiencing month-end flows before this week comes to a close, and this is why traders should take it easy in order to prepare themselves for the onslaught of economic data later this week. The Fed rate hike in June is still not fully priced in, and unless the market gets some sort of conclusion with regards to the Fed’s next move, then it will be very hard to determine the short-term price actions of the EUR/USD pair. But the recent correction of the EUR/USD pair should be taken only as a mere correction instead of a full-on trend change as corrections are deemed as normal in every currency pair.

For today’s session, the market is expecting the release of Germany’s Preliminary CPI data, as well as the PCE data from the US economy. The PCE data will be closely watched as this will indicate whether the Fed will be indeed pushing through with its rate hike or otherwise and could possibly induce a lot of volatility into the market within the day.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 30, 2017 9:23 am

GBP/USD Fundamental Analysis: May 30, 2017


In a sea of otherwise very inactive major currency pairs, the GBP/USD pair seems to be the only pair which has gained significant volatility during yesterday’s trading session. The cable pair shot up by over 40 pips in spite of a market holiday across several locations throughout the world such as the US, UK, and China. The lack of market activity yesterday gave the pair’s traders an opportunity to induce a bounce in the pair although it was unable to offset the 150-pip crash of the cable pair during the session last Friday. In spite of this recent reversal, the GBP/USD pair is expected to remain trading in a very weak manner as a lot of economic factors seem to be going against the sterling pound at least for the time being.


Members of the ruling political party in Scotland have recently outlined the possibility of a Scottish referendum if ever they get reinstated in the Scottish government. But then again there have been recent rumors swirling around with regards to the ongoing Brexit negotiations, specifically on how the negotiations will pan out once the snap elections in June come to a close. In addition, the results of the recent opinion polls are showing that Theresa May lacked the expected lead in the upcoming snap elections, which puts May in danger since anything less than a landslide victory for the UK PM will make this particular risk of hers in order to establish herself in the international scene a failure. The GBP/USD pair is also currently struggling to surpass 1.3030 points, and all of these factors have turned against the cable pair and has put a significant amount of downward pressure on the pair.

For today’s session, there are no expected releases from the UK economy although the US will be releasing its PCE data, which will be closely monitored by the market as this will be indicating whether the June rate hike will indeed push through or otherwise. If this data disappoints the  market, then this will not bade well for the GBP/USD pair.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 30, 2017 10:16 am

USD/CAD Fundamental Analysis: May 30, 2017


The USD/CAD pair remained in consolidation mode as the market lacked significant volatility due to market holidays in China, US, and the UK. The loonie remains trading under the very important trading range of 1.3500 points, mostly due to a steadying in oil prices in addition to a strong greenback value.


The currency pair broke through 1.3500 points last week after a surge in oil prices. Although the oil bulls were very disappointed with regards to the results of the recently-concluded OPEC meeting, the loonie received some well-needed pressure from this drop in oil prices, thereby triggering the USD/CAD pair to revert to 1.3500 points and closed down last week at  just under this critical trading level. The CAD is also currently being propped up by a series of very positive data from the Canadian economy, with this economic improvement getting some acknowledgement from the Bank of Canada in its rate statement during the past week. In fact, the BoC has already decided to put its rates on hold instead of implementing a rate cut due to this consistent improvement in the country’s economic state, which could then lead to a possible rate hike if the country’s economy continues to be positive.

For today’s session, the US economy will be releasing its PCE data which is expected to clarify the country’s inflation status in addition to shedding some light on whether the Fed will be indeed implementing a rate hike next month. If the PCE comes out as negative, then the USD/CAD pair could possibly correct further towards 1.3400 points.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 31, 2017 10:06 am

AUD/USD Technical Analysis: May 31, 2017


The Australian currency had slightly decline amid Tuesday trades, however, met a support around 0.74 mark to bounce back and climb upwards. An ability to cut through above the 0.7450 region is highly important. The resumption of the bullish pressure will prompt the market to advanced towards the area above 0.75, which is previously a significant resistance.


The rally is expected to run out within a short period of time, in case the gold surge considering a “risk on” rally. Therefore, the market has to continue trend upwards.


The gold markets appeared to be a safe place to get involved with. When gold was bought as a fear trade there is a tendency that Aussie will not follow. Nevertheless, a positive feeling towards the markets will help the AUDUSD to attempt a higher move.


The AUD is starting to gain strength, but the Kiwi appeared to be much stronger as it drives forward. Forecast says, the favor should remain in the seat of the New Zealand dollar, but there are predictions that both commodity currencies will go through similar directions.


A break down under the 0.74 range would indicate a negative signal and caused the Australian dollar to plunged lower.

Alternatively, the pair is projected to experience volatility, yet this is not new to this pair since the market always run in circles. Volatility awaits upon moving forward, for that reason you should look out on your stop losses.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 31, 2017 11:21 am

GBP/JPY Technical Analysis: May 31, 2017


The national currency of Britain weakened amid Tuesday trading, however, it had a significant rebound from the area 141.80 reaching the 143 handle. A break over the daily highs would direct the market in a higher position, as it may reach 144 level without plenty of issues.


Generally, the Sterling holds a significant amount of reversal throughout the day since the Cable further exhibited active signs. This could probably be a correction for the oversold condition where the GBP sees itself, after the election polling it became tighter exceeding its expectations in the past. Moreover, the figures decreased inclined with the conservative administration. Having said that, the uptrend will resume eventually, hence buying is highly preferred on the gap above the highest.


Remember that the pairs relative to Japanese yen appeared to very sensitive to risk. This could be considered as one of the most delicate pairs, the simultaneous rally of the stock market is a big help that could move 100 pips in an instant.


Either way, a cut through underneath 142.50 region would allow the market to touch 142 handle once again.

The daily candle begins to display a bullish stance which signals that buyers will return, nevertheless, it could be best that you’ll wait for the market to reveal hints to initiate the buying, as a means to safeguard your account against an extensive volatility.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 01, 2017 7:47 am

EUR/USD Fundamental Analysis: June 1, 2017


The EUR/USD pair looks poised to  make another attempt at reaching its current range highs as the currency pair was able to take advantage of a correction in the greenback. This upward pressure in the currency pair is expected to last well into the first few days of June, particularly the 2 most essential trading days for this month.


The dollar experienced corrections on the back of a couple of disappointing data from the US economy. The first one was the Chicago PMI data, which failed to meet its expected economic reading and the pending home sales data, which also disappointed the entirety of the market yesterday. This triggered a large-scale dollar selloff against other major currencies and has enabled the EUR/USD pair to advance towards 1.1200 and was even able to reach 1.1250 points throughout the course of the NY session. Since the Fed had previously clarified that the implementation of the June rate hike will be wholly dependent on the results of the incoming economic readings from the US, the market has become very sensitive to readings coming from the US economy, with even minor readings inducing major volatility levels on the market especially if these comes out as very disappointing for investors. Eventually, the PMI data was revised to a much higher reading and this helped to cushion the blow of the fall of the USD, although this has left an impression on the market with regards to the adverse effects of a negative reading to the value of the US dollar. Meanwhile, the USD continues to be in peril in spite of its drop in value being temporarily stalled.

For today’s trading session, there are no major news releases coming from the EU economy while the US will be releasing its unemployment claims data and its ADP Non-Farm Employment change data during the NY session, which is a precedent to the release of the NFP report on Friday. This particular bit of news is then expected to induce major volatility levels and a move of the currency pair below 1.1200 points should be a signal for the pair’s bulls to rethink their positions.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 01, 2017 9:18 am

EUR/GBP Technical Analysis: June 1, 2017


The Euro against the British pound was highly volatile during the Wednesday session. It is being in tested in the upper channel and a pullback was seen reaching the opening for the day. The market is attempting to gain sufficient impetus to break higher than the 0.88 level followed by 0.90 level.


In the long-term, this pair seems to be much stronger although there is a lot of noise found in the upper channel causing the choppiness of the market. The market might move slower especially with various major reports from the European Union and Britain. Same goes for Brussels and London which will be the center of attention and this market can be easily affected by these outside forces.

It won’t be long before this pair rallies upward and it is advisable to either buy after a breakout or be more careful and wait on the sidelines. Selling might be more difficult for this pair neither placing a short-term orde. However, a move lower than the 0.86 handle is a good thing although it seems that the buyers dominate participants but might now last in the current condition of the market.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 01, 2017 11:20 am

USD/CAD Fundamental Analysis: June 1, 2017


The USD/CAD pair was able to advance further towards its range highs during the previous session in spite of the greenback suffering blows against other major currency pairs due to a series of disappointing economic data from the US economy. The loonie is now trading at just above 1.3500 points which is considered to be a very essential trading region for the currency pair. However, the market has yet to see whether the USD/CAD pair will indeed manage to go even higher and reclaim its bullish price action or if it will correct and return to its previous trading range.


This surge in the value of the USD/CAD pair has been mostly attributed to a string of weak economic data from Canada. As the Canadian GDP was released during yesterday’s session, the annual and quarterly readings for 2016 disappointed the market in spite of a very positive monthly reading. This was far worse than what the market had initially anticipated and has caused the loonie to correct and the USD/CAD pair to increase further in value. Oil prices also dropped while the Canadian inventory data showed a solid draw in addition to an added increase of Libyan production data. This caused both the Canadian dollar and oil prices to drop and was more than enough for the currency pair’s bulls to help prop up the value of the USD/CAD pair past 1.3500 points where it is currently sitting as of the moment.

For today’s session, the market is expecting the release of unemployment claims data and the ADP employment report from the US economy, both of which are of utmost importance since this serves as a precursor to the incoming NFP report due tomorrow. The oil inventory data is set to be released today, and this, together with the NFP report will most likely determine the short-term price action of the USD/CAD pair.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 02, 2017 7:54 am

AUD/USD Technical Analysis: June 2, 2017


The Australian dollar against the U.S. dollar did not have a good trading session on Thursday. It breaks at the 0.74 level followed by a rebound towards the 0.7420 region. Since then, the market declined and broke to a fresh new low. Currently, the pair is depreciating and makes it more vulnerable to further decline especially since the jobs data will come out today.


If the jobs data met the expectations, then this will most likely push the currency lower towards the 0.73 handle. However, if the pair moves in the upper channel then this would open opportunities to buy this pair especially if it breaks higher than the 0.7475 region. Although, we cannot be certain of now if this would occur since the market is still undecided on which direction to choose.


The next target for this pair is 0.73 level with the tendency to move forward which makes it more favorable for selling. The market already anticipates this and it will be good to follow so.
It seems that the currency is having a difficult time while the New Zealand dollar is performing better. Even so, traders still opt for the Aussie but traders should be cautious in buying this pair in the current low levels.

Overall the pair is sold-off by traders and it is reasonable to move along with this move. However, if this pair opens for the 0.73 region, this will push the price to lower levels immediately.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 02, 2017 11:33 am

NZD/USD Technical Analysis: June 2, 2017


The Kiwi dollar declined in the day during Thursday trade while testing the mark 0.7050. Despite the choppiness of the market, the New Zealand currency have the possibility to beat the Australian dollar. It does not mean that the market will establish an optimistic stance, rather it will become more resilient. The market will search the level below 0.70 because this holds a nice large figure, however, the release of US employment figures on Friday involves plenty of noise.
The market will found the resistance on top of the 0.71 handle and the rally will soon fade away because the mentioned region seems resistive. As indicated on the higher level of the chart, some type of channel are trying to develop.


The NZDUSD is not easy to deal with because it is the least liquid among major pair and when the announcement is made, it would likely to have a violent move. With this, it is suggested to steer clear from the commodity-linked pair as this could lead you to pain if you did not take proper caution. The ability to break down under 0.70 region would break down significantly. It signals a longer-term indicator, either way, it could toggle continually moving a gradual ascending grind.

As the market maintain a choppy stance, lots of opportunities were also offered.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 05, 2017 10:57 am

GBP/USD Technical Analysis: June 5, 2017


The GBPUSD declined on Friday and face through some volatility as the U.S. employment figures released with a lower than anticipated results.


The market now appeared to hover below the 1.29 handle considered as a major level. The ability to break on top of the said region would lead the market towards 1.3050 area which provided a significant resistance.


Buying on the dips remain to be the most suitable way in playing the market beneath 1.2850 that has been offering an amount of support. Meanwhile, a break over 1.29 range would trigger a continuous higher movement. In the long term, buyers will still get involved and show further strength sooner or later.


Headline risk could still remain since concerns regarding British exit keep forging ahead. This might influence the sterling in any moment. Ultimately, the pair can find a bottom upon staying beyond the level 1.2750.

Moreover, the built-in bid resumes in regards to the GBP. An attempt to move ahead the 1.3450 handle should be done. However, lots of issues and concerns surrounds the British economy, therefore it may take some time to reach the target. Selling is ruled out except when we cut through down the 1.2750 area.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 06, 2017 9:58 am

USD/CAD Fundamental Analysis: June 6, 2017


The USD/CAD pair continues to exhibited a very tight price action as the pair’s bulls and bears continue to fight out for the control of the currency pair and is expected to remain as the pair’s dominant trend in the short-term period. The pair has been trapped in a very limited range ever since the currency pair managed to push forward past 1.3500 points with buyers dominating the 1.3400 trading range.


During the past few days, oil prices have remained stable, thereby decreasing the amount of leverage it gave to the Canadian dollar and was one of the reasons why the loonie was unable to take full advantage of the dollar weakness which was due to a series of dismal US employment reports last week. Oil prices has also continued to be very disappointing due to rising tensions in the oil-rich Middle Eastern countries and has subsequently diminished its support for the loonie. In spite of the pair making a headway towards 1.3460 for a short while, it was almost immediately met with several buys, causing the USD/CAD pair to retreat towards 1.3500 points, where it is expected to stay put at least in the coming days. The market is now preparing itself for the trading sessions on Thursday and Friday as the currency pair would most likely undergo a volatile trading session due to Comey’s testimony as well as the release of the Canadian employment report on Friday. This is why traders are advised to remain in the sidelines until such time that a break shows up on the pair’s range before inducing any kind of progress in their trades.

For today’s session, there are now major releases from both the US and  the Canadian economy and the USD/CAD pair is expected to continue consolidating throughout the duration of today’s session.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 06, 2017 10:47 am

NZD/USD Technical Analysis: June 6, 2017


The New Zealand broke in the lower channel during the Monday session. Later, the trend bounced off to fill the gap then declined again. There is massive support found in the 0.71 below which triggered the market to rise again as it reached the former break level. Currently, the market is attempting to move higher as it gains momentum to reach the 0.7150 region which would hint a bullish sentiment.  


The market could also retreat from this level towards the 0.71 handle once more. Overall, there will be high volatility and persist for some time in the market since the New Zealand dollar is relative to commodities market which always changes. Hence, the currency is expected to be traded with a choppy environment.


Buying on the lows is advisable for this pair and is not surprising for them to return as the trend moves in a downtrend. However, shorting this pair may not be the best move. If the price breaks lower than the 0.71 handle, the next move would be to go downward toward the 0.7050 level.  

Nevertheless, the market will be very choppy driven by geopolitical risks and in consideration of its sensitivity opting the U.S. dollars as a safety currency while the kiwi being the riskier one in this pair. Volatility is also anticipated to persist in either direction it goes.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 07, 2017 9:53 am

NZD/USD Technical Analysis: June 7, 2017


The NZDUSD rallied amid trades on Tuesday and broke the level on top of 0.7150 smoothly. The Kiwi dollar continued to search for buyers on dips and tend to handle some pullback as an opportunity to increase rate.


The market tried to touch the region above 0.72, en route 0.75 afterwards. As shown in the chart, the area around 0.71 handle provides a lot of support and regarded to be the floor of the market in the near-term uptrend. The commodity space continues to weigh on the market and the NZD seems to be the “barometer” towards the overall sentiment of futures trading. Watch closely for the commodity because it could possibly show the way.


It could be a good move to buy dips moving forward because it suits the current status of the New Zealand currency. Selling remains impossible as far as we breach under the 0.71 mark. A successful break down prompts the market to reach the range below 0.7050 which is very supportive previously, along with the 0.70 region. In any case, the market remains to be volatile, however, the moving averages came in reliable, particularly the 48-hour MA shown in green color, hence it should offer further buying opportunities.

The volatility driven market persists, but the late impulsivity indicates that buyers begin to develop more confident as it moves ahead. Moreover, the dips will provide value which is an advantage to market participants.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 07, 2017 10:57 am

GBP/USD Technical Analysis: June 7, 2017


The GBPUSD had attempted to rally yesterday, however, retreated to the level 1.2950 to return underneath the 1.29 handle. In the past few sessions, the market appeared to have a little bit of overall bullish pressure, waiting for the results of UK elections expected tomorrow. In this case, the market will probably experience choppiness and unprepared to conduct a significant move yet. Short-term volatility is predicted along with some choppy spots but a general ascending momentum should also be anticipated. It does not mean that a pull cannot be accomplished, it only implies that longer-term charts and the range below 1.2750 should offer massive support that will surely lure the attention of the majority of market participants.


After the session on Friday, the long-term outlook for the pair shall be available as it could be very difficult from this moment and the next.


Buying the dips remains to be the best option for the Cable but the dips showed to be somewhat steep. You should have got small positions as of now and after the election results in order to acquire lesser damage that might suddenly arise.


Markets have lots of speculation regarding the election decision, therefore a cool level head should be maintained as this is crucial for the following sessions.

In the longer-term, the pair might break the 1.3050 mark as it allows the market move higher freely, or maybe reach its long-term target found at the region 1.3450.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 09, 2017 9:48 am

EUR/USD Technical Analysis: June 9, 2017
 
The EURUSD drove downwards as the European Central Bank (ECB) decided to maintain the interest rates on a steady pace coupled with dropped easing bias. This further took a neutral position with regards the way they will see the monetary policy.
 
The schedule for quantitative easing remained unchanged while rates should be expected to retain its recent levels as reflected in the transcripts.
 

The pair moved near the support shown at 1.1220 mark that lies around the 10-day moving average which currently serves as the resistance in the near-term. Further resistance sits at 1.1285 region close to the weekly highs. An ascending sloping trendline is found at 1.1140 area. Meanwhile, the momentum turned towards the negative territory and the moving average convergence divergence (MACD) produced a crossover signal to sell prompted by the intersection of the spread under the  9-day moving average. The histogram shifted from positive en route the negative grounds and confirmed a sell signal.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 09, 2017 11:27 am

GBP/JPY Technical Analysis: June 9, 2017
 
The British pound paired against the Japanese yen had a volatile session during the Thursday session. This is not surprising because of the U.K. parliamentary elections. Although, traders are not sure what is the general attitude of the market regarding Brexit leaving uncertainty in investors.
 
Towards the end of the day, the pair rallies forward with 61.8% Fibonacci retracement level close to the 142.75 handle. Low levels have been higher which could continue to go up. The 143 region is starting to be strongly resistive and if the market is successful in breaking this level, the price could move higher. As of now, the market is still in consolidation.
 
However, if the price fell down to the 142 handle, there are more buyers interested in this pair. If the market is successful to break out in the upper channel, it will suggest a “risk on/off” sentiment which is a common reaction here. Traders should be cautious to avoid losses since they could incur bigger losses if not careful. Same goes for the USD/JPY pair and position in smaller trades which is relevant for this pair.
 

Nevertheless, it is also a good move to buy the pair for long-term but still with some caution before posting large orders since the market is still unstable. It is safer to wait until next week or after the results of U.K. election.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 13, 2017 8:42 am

EUR/USD Technical Analysis: June 13, 2017
 
The European Central Bank decided to stabilize the apple cart and did not talk about the withdrawal of Quantitative Easing turning the focus towards the talks regarding Brexit and politics. Italian elections were delayed which helped yields from Italy to decline on the back of an extensive narrowing of spreads followed by the dovish remarks pronounced by M. Draghi.
However, lots of political challenges remain in the future.
 
The anti-European forces appeared to be inactive while in Catalonia, Spain threatens the stability of the Spanish country due to the independence referendum planned for October 1.
 
The debt relief of Greece continue to hang in the Euro region and this is the expected major topic in the EU meeting scheduled on Thursday.
 
The EURUSD tried to move higher but failed to reacquire its previous resistance found at 1.1227 level close to the 10-day moving average.
 
The exchange rate indicates the second day of the Doji formation that further shows uncertainties where the close and open levels are in the same range.
 
Moreover, the pair seems to generate a  head and shoulder reversal pattern which starts to produce the right shoulder followed by the left and lastly the head which resistance region entered the 1.1285 area.
 
Prices in the previous weeks failed to break 1.1299 mark seen around the November 8 highs. The major’s near-term support holds 1.1109 near the lows of May 29.
 

The momentum became negative since the moving average convergence divergence (MACD) develops a sell signal to take a crossover. It emerged because the spread crosses underneath the 9-day exponential moving average. The histogram shifted to negative grounds from the positive territory establishing a sell signal. The index also prints in the read paired with a descending trajectory that points towards a lower rate of the EUR/USD.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 13, 2017 9:46 am

EUR/GBP Technical Analysis: June 13, 2017
 
The Euro against the British pound move sideways during the Monday session. It broke above the 0.88 handle as the market continues to sell off the currency. This is a significant move while it seems that the market is not ready to retreat. Pullbacks would then attract more buyers and the 0.88 region below continues to be supportive.
 
However, if the price breaks lower and the gap is filled, this could send the price lower as low as 0.8650 and lower. Some pullbacks would open buying opportunities indicating massive support below. There is still a possibility to move higher towards the 0.90 level which hints as a significant psychological level.
 
The British currency has depreciated which drags the pair more than the other. On the other hand, the Euro is steadily moving in the market. The impulsive action is most likely driven by the pound more than other aspects. The uncertainty persists in the market which entails the pair could climb higher.
 

The 0.90 region gives off a significant resistance and a break over this would provide more long-term opportunities. It may not be wise to sell this pair since there are other things to consider in selling off this pair. However, if the pair breaks in the base of the breakdown, this would significantly shift the movement which could induce selling and this is not gonna be good for the pair.  
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 14, 2017 9:35 am

EUR/USD Fundamental Analysis: June 14, 2017
 
The EUR/USD pair merely continued its tight trading action during yesterday’s session as the market braces itself for the announcement coming from the FOMC scheduled for today. The currency pair had initially attempted to move towards the bottom if its range but was immediately met with some large-scale buys in the 1.1160-1.1180 range, prompting the currency pair to revert to its original range.
 
During the previous session, the most important region for the pair’s bulls and bears was the 1.1200 trading range, with the currency pair managing to close down yesterday’s session at just over this particular range. However, this would all be futile if ever the Fed decides to implement another interest rate hike and release a very hawkish statement. As of the moment, the market has priced in a 90% possibility of rate hike, with the Fed neither confirming nor denying rumors of a possible interest rate hike. The market has taken this as a positive signal from the Fed as far as the rate hike is concerned, and this is one of the reasons why the EUR/USD pair is now trading within its range lows paired with somewhat tame bounces in between as the USD continues to hold on to its current value. Now that the rate hike is already priced in, the market will now be shifting its focus towards the FOMC statement, where the central bank is expected give clues with regards to the next rate hike. The next scheduled rate hike was initially scheduled to be implemented this coming September, however a series of negative data from the US economy has caused doubts on whether the central bank will be indeed pushing through with the next rate hike.
 

Aside from the FOMC rate announcement, the US economy will also be releasing its retail sales data and CPI data, both of which are expected to induce volatility levels into the EUR/USD pair. However, since the market will be focusing today on the rate announcement, a volatility surge is expected right after the release of the FOMC statement.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 15, 2017 11:38 am

USD/CAD Technical Analysis: June 15, 2017
 
The U.S. dollar against the Canadian dollar declined during the Wednesday session. It broke lower than the 1.32 level. However, there are still concerns in betting this pair considering the possibility of a rally because of the speculations to the Bank of Canada to tighten its rates or lessen its quantitative easing.
 
Generally, the market is focused on various factors. One is the oil market which has an impact on the Canadian dollar. There is a chance that the central bank would have a drastic change to the price trend to support the Loonie. Currently, there is uncertainty in the oil market that the investors should closely monitor besides other economic problems.
 

Furthermore, what the Federal Reserve is doing would have an effect to the trading market and just recently, there was a sell-off in the pair for the past few days which could unexpectedly turn into bullishness instead of bearishness. Three handles have already been lost indicating strong moves over the last three days. This makes other currencies to be traded easier. However, if the Federal Reserve made a surprising move to raise its interest rates for the second half of the year, the market will turn into chaos and surge to the upper channel along with the Japanese yen major pair against the greenback.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 16, 2017 6:43 am

EUR/USD Fundamental Analysis: June 16, 2017
 
The EUR/USD pair exhibited a correction during the past 24 hours as the US dollar regained its strength following the recent Fed rate hike. This was pretty much expected for the EUR/USD pair once the London session commenced and were able to react on this recent development from  the US economy.
 
The market faced a slight disorientation halfway through yesterday’s NY session as the Fed mulled over whether it will still push through with its planned interest rate hike in spite of a series of disappointing economic data from the US. Luckily, the central bank decided to go ahead and push through with the said hike and even chose to shrug off the weak economic data as a mere one-off and instead kept its focus on future rate hikes as well as the overall economic health of the country. This gave off a bullish undertone to the market, and the market responded accordingly by triggering a massive dollar buying across all currencies. As a result, the EUR/USD pair sank through 1.1200 points and spent a short while at the 1.1160-1.1170 support range, and although the pair was met with some buying within this range, this buying lasted only for a brief period and the pair eventually dropped towards 1.1130 points before finally settling at just under 1.1150 points, where it continued to trade in a very weak manner, with its next short-term target located at 1.1100 points. There were some positive data coming in from the EU, while the IMF also stated that the EU economy seems to be consistently improving, but so far this has had no effect on  the EUR/USD pair.
 

For today’s trading session, there are no major releases from the eurozone while the US economy will be releasing its building permits data. The dollar is expected to remain trading in a consistently strong manner which could put additional pressure on the EUR/USD pair.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 19, 2017 10:25 am

USD/JPY  Technical Analysis: June 19, 2017
 
The U.S. dollar against the Japanese yen climbed higher during the Friday session. There is a massive resistance found in the 11.40 level to reverse the trend followed by a decline. A neutral candle is formed for the day although the market is trying to gain momentum as they are trying to recover following the drastic move in the upside on Thursday.
 
The Federal Reserve is being hawkish more than expected which is favorable for the greenback since the Bank of Japan moves contradictorily when it comes to monetary policy. The 110 region remains supportive which would most likely become the floor of the market.
 
For now, it is advisable to short this pair to take advantage of its short-term decline and rendering more support for every short-term credit. This is still not finite and the trend could decline anytime although the next move would most likely be in the upside reflecting the impulsiveness of the market. Hence, buying is much more practical in the current market condition.
 

The initial next target would be at 112 then 112.50 level. For long-term, the trend could reach as high as 115 region although it might take longer to achieve this. There is also a tendency for the pair to be volatile which is not surprising. It is good to trade this pair in the current market as it could also benefit the greenback traded against the yen since the BOJ is dovish and most likely continue for a longer period of time.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 20, 2017 11:15 am

USD/CAD Fundamental Analysis: June 20, 2017
 
The USD/CAD pair continues to consolidate within its range lows as the loonie makes another attempt to recover its losses and possibly trigger a bounce in its value. Now that the Bank of Canada is more than eager to help the Canadian economy make a 360-degree turn, the pair’s bulls will be in for a hard time as it tries to induce any kind of price bounce. Should the pair manage to create a bounce, then this should be viewed as a selling opportunity and should not be taken as a trend adjustment.
 
On the other hand, oil prices are still trading within its bottom rungs and remains weak as of the moment, however the CAD seems to be unaffected by this and has still managed to look very positive and has remained trading in a very positive manner. The CAD will only be able to gain some measure of short-term strength if the oil prices will be able to recover in the short run, and if this happens, then the USD/CAD pair might be able to make a substantial attempt to go beyond the critical range of 1.3000 points. The currency pair has weakened significantly ever since it surpassed 1.3500, with this region signalling a trend shift. The fact that the currency pair is still doing very well in spite of a drop in oil prices and dollar strength just goes to show how much of a change has happened within the price action of the USD/CAD pair. Meanwhile, the economic releases from the Canadian economy has showed consistently positive readings, with the BoC announcing its plans to help keep the country’s economy on  the upside.
 

For today’s trading session, there are no major releases from the Canadian economy, and the USD/CAD pair is expected to range and consolidate on both directions of 1.3200 points.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 21, 2017 9:48 am

AUD/USD Technical Analysis: June 21, 2017
 
The Australian currency attempted to initiate a rally amid the day and reversed to sell off. The 0.7575 mark was being tested due Aussie’s actions, hence, it provides a significant amount of support. In case that a breakdown occurred beyond that point, the market will be pushed down through 0.7550 region which is an interesting area in the past.
 
The market will keep on reaching the 0.765 handle when a bounce happen and when it break into the upside will drove near the region 0.7750.
 
At the end of the day, the market will continue following its risk appetite and traders should watch closely what will happen within that point. The central bank of New Zealand is expected to release a statement about interest rates scheduled today while the Aussie dollar will seek the same path.
 
Moreover, gold markets remain to be in a downbeat which can be felt by the AUD as well. With this, players should search for a support below prior the rebound. As the market still have challenging nature to deal with because of the many bits and pieces moving around, particularly the plan of the Fed Reserve to increase rates.
 
Above all, the pressure brought by the precious metal, gold paired with the general outlook on risk tolerance is projected to wrought a chaotic situation over the market.
 

In this event, it is complicated to determine where to go next as the consolidation is anticipated to keep going.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 23, 2017 9:12 am

USD/CAD Fundamental Analysis: June 23, 2017
 
The USD/CAD pair has returned to its downtrodden price action as the Canadian economy released some very dismal data on the back of a steadily dropping oil prices. The currency pair was unable to surpass the very critical trading range of 1.3300-1.3330 points, thus stopping it from making any advancements towards 1.3500 and instead caused the currency pair to return to its downtrending price direction.
 
With the present state of the currency pair, it is now evident that the USD/CAD pair will be unable to make any decisive rebounds at least for the time being. The Canadian economy continues to throw some consistently good economic data, signaling that the country’s economic outlook remains on the positive. All this, including a highly positive retail sales data from the region could increase the chances of the Bank of Canada implementing an interest rate hike before the end of 2017. The central bank had previously hinted of this possibility a few weeks ago, and this further added to the downward pressure on the loonie. Oil prices have also managed to hold their ground in spite of its continuously weak outlook, with this oil prices the only thing stopping the USD/CAD pair to go full on with regards to completing its downturn. As of now, the USD/CAD pair is still continuing with its downtrend and if this further progresses, then the loonie will possibly reach 1.3100-1.3000 in the short term period.
 

For today’s trading session, the Canadian economy will be releasing its CPI data, and if this turns out to be positive as well, then this could enable the USD/CAD to drop further towards 1.3100 points.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 27, 2017 11:04 am

EUR/USD Technical Analysis: June 27, 2017


The EURUSD is trading sideways during Monday’s session, however, met the resistance level at 1.12. A breakdown below that point and touched under the region 1.1175, then spotted a slightly bullish pressure. A cut through on top of the 1.12 handle and a pulled back from that point will see for another support.


With this, the pair is inclined to continue its ascending trend or maybe tried to touch the 1.13 mark in the longer term.


Volatility is still high in the market which would likely cause the single European currency to remain a market that is not easy to trade with, therefore, buying is our only choice.
The “fair value” is found at the 1.12 area and this point should be maintained. Buyers are starting to dominate the market, and there is no reason to stop moving near the 1.13 mark again.


It is possible that the market will continue to provide lots of buying opportunities on the dips in the short-term at least.


The market appeared to be crucial when imposing a sell signal unless we break the region under 1.1170. Ability to breakdown will lead the market towards 1.1125 handle.

A cut through over 1.13 mark, the market will drive going to the top of 1.15 range which is a strong barrier as indicated on the longer-term charts. As consolidation between the bottom of 1.05 and top of 1.15 continues in the past three years.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 28, 2017 9:18 am

EUR/USD Fundamental Analysis: June 28, 2017


The EUR/USD was able to jump higher due to hawkish remarks of ECB head, Draghi coupled with the events happened in the United States that caused the greenbacks to weaken in general during Wednesday’s trading. The pair gained more than 160 pips in the past 24 hours and ultimately, the bullishness lasted in the past few weeks become apparent.


During the first part of the day, the pair had a usual day spending time under the 1.12 level consolidating. Followed by the statement of Draghi, who frequently not discuss monetary policy on his speeches, however, this happened yesterday that moved that market.


The European Central Bank is regarded to have a bearish stance but the strong data in the previous months that forced the bank to change their stand. Recently, M. Draghi mentioned his best indication regarding changes in track and stated that there is a likelihood that the central bank would start the tapering of QE very soon. This seems to be very hawkish for the European currency and the underlying strength aided the pair in pushing higher touching the 1.1250 level above.


A short interruption occurred prior the 1.13 area that acts like a wall in the past months and has the potential to stop the pair within that point and conduct another reversal. Nonetheless, there are reports about the delay in the US healthcare reform bill due to diverging ideas coming from the Republicans per se. This event caused the USD to lose its strength in general due to worries regarding the policy paralysis in the US that was triggered once again. It further leads the pair across the region 1.13 above and trading comfortably as of this writing.


Previous forecasts say that every last week of the each month will probably witness high volatility and this has been proven right.

We expect today for another statement from the head of ECB with an anticipation to talk about fiscal policy again and if he does not mention this or anything that contradicts his comments, the pair will remain to move upwards as it was far away from the 1.13 resistance.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 30, 2017 8:19 am

EUR/USD Technical Analysis: June 30, 2017
 
The currency pair EUR/USD had broken out and expected to resume its upward movement while inflation data appeared to be stronger than anticipated that lead the European yields higher.
 
The yield differential currently moves to the side of EU yields that paved the way for the single European currency to gain higher.
 
Confidence further surges on its renewed decade highs while consumer lending also increased. Most of the headlines from the United States came in better than expected, however, American yields are following its EU counterparts that put pressure to USD.
 
The pair broke out through its fresh 1-year peaks over the resistance at 1.1365 around highs of August 2016 while trying to test 1.1616 level near May 2016 peaks.
 
The support reached 1.1365 mark which is a previous resistance, followed by the 10-day moving average seen at 1.1148 region.
 

The pair’s momentum became positive when the moving average convergence divergence (MACD) produced a crossover buy signal. It was generated due to spread that crosses on top of the 9-day moving average. The histogram shifted from negative to positive zone and confirmed a buy signal. The index prints in the black with an ascending trajectory indicating a higher exchange rate.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jun 30, 2017 10:46 am

NZD/USD Technical Analysis: June 30, 2017
 
The New Zealand currency experienced a volatile session during Wednesday's trading reaching the downtrend line shown in the weekly timeframe, and eventually, break down.
 
A position under the 0.73 handle indicates a slightly bearish tone, but, the longer-term market attempts to establish an adequate pressure to accomplish a breakout.
 
The downtrend line is important as the commodity markets do not offer any help towards the NZD. Having said that, performing a breakout might be difficult however when doing so, it should be massive as it touches the level 0.75 in short order.
 
Alternatively, it is also possible to breakdown but it requires a gap under the 0.7250 region to be conference since that area is considered to be a “lower low”
 
The NZDUSD pair endured an extreme volatility in the last few sessions suggests the previous situation within the Forex market in general.
 
The Kiwi dollar is known to be the least liquid among major pair that’s why we normally see lots of noise.
 
The current level of 0.73 is basically a “fair value” for the pair, hence, short-term traders would likely resume moving from side to side around that territory.
 
In the longer-term, a confirmation in order to complete the breakout is necessary even for bullish traders, as a means to put money to play within a really choppy market.
 

In case that, agricultural futures gained higher value this would mean that the NZ dollar will receive some support. But it appeared that traders’ attention is focused on the current situation of the interest rate.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 03, 2017 10:33 am

USD/JPY Technical Analysis: July 03, 2017
 

The U.S. dollar against the Japanese yen moved laterally during the Friday session. It proceed to grind close to the 112 level and if the market is successful in breaking higher than the peak of the range for the day, the next move of the market would be towards 113 handle. Buyers continue to jump in the market following the dovish decision of the Bank of Japan regarding its monetary policy. Any pullback cannot be a telltale sign of a downtrend, not until a break lower than the 110 region has been achieved to determine if the potential uptrend has ended.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 05, 2017 9:35 am

EUR/USD Technical Analysis: July 5, 2017
 
The euro-dollar pair resumed its downfall while the U.S. yields were able to make further progress on the back of the stronger-than-expected result of the  ISM Manufacturing report issued on Monday. The US market was closed on Tuesday due to  Independence Day holiday, however, there are few catalysts that stimulate the EURUSD amid balance of the week which includes the United States’ Payroll report on Friday.
 
The pair headed lower and bound to test the support close to the 10-day moving average found at 1.129. The exchange rate eased from the 1.14 handle which is considered the 1-year high and stayed around 1.1350 region near the peaks of August 2016.
 

The resistance highlighted the 1.1444 mark. Momentum came in neutral while the moving average convergence divergence (MACD) histogram prints in the black linked with a flat trajectory which suggests some consolidation.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 06, 2017 9:00 am

EUR/USD Technical Analysis: July 6, 2017


The EURUSD rebounded from its session lows after the release of FOMC minutes which indicates rising concerns of Fed officials regarding the drop in inflation accelerating.


The pair buoyed due to stronger data showed by the EU PMI and Retail Sales.


Peter Praet from the European Central Bank strongly suggests to be leery and patient and take it slow in changing the monetary policy.


The pair further bounced around the support level 1.1318 close to the 10-day moving average.

The resistance approached the 1.1444 region around the June highs. The momentum on the euro-dollar pair came in neutral while the moving average convergence divergence (MACD) histogram prints near the zero index level. The index constitutes a flat trajectory pointing towards consolidation.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 07, 2017 8:58 am

EUR/USD Fundamental Analysis: July 7, 2017


The EUR/USD climb higher on the positive news for the single European currency and brought negative news for the US dollar, hence, this helped the pair to return towards the range of its highs where it previously existed.


The euro-dollar pair appeared to be very bullish as of this time while traders and euro bulls will cheer up due to the fact that a major portion of this is from the existing strength of the EUR. This not the same during the earlier times wherein the pair trailed upwards following the dollar’s weakness.


As mentioned in the earlier forecast, the bullish run will remain intact within this pair and it appeared that will take some time prior the euro recovery. This happened yesterday due to the release of ECB minutes which clearly indicates that officials talked about preserving the QE tapering. However, decided to hold back until the inflation data support this move. It further shows that the ECB is very serious in considering the tapering as this also wrought a large increase for the EUR. In case that it lacks steam to push the EURUSD higher, we could rely on the ADP employment report which presented lower than expected value of 158K versus projections of 185K.

As the ADP served as a precursor to the NFP scheduled to be released later this day, it further acts as a reminder for the dollar bulls that they are not yet far from that critical phase and that other challenges and struggle continues in the near-term. With this, the trend of sluggish US data resumed in the past couple of days. This questioned the Fed’s decision on ignoring the weak data after they implemented rate hike in the previous month. Ultimately, the focus is on the NFP along with the wages report and should be keenly monitored. Any hints of weakness in this report will only need some stimulant in order for the euro bulls to support the pair to 1.05 level.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 10, 2017 9:22 am

AUD/USD  Technical Analysis: July 10, 2017


The main trend of the AUD/USD pair in the daily swing chart is moving in an uptrend. However, the momentum is pushing it to go lower. When the trade exceeds the .7712, this will shift the main trend to move up.


A trade at the .7571 level indicates the continuation of the downtrend and possibly towards the minor base at .7535 region. A breakdown to this level will shift the course of the minor trend to go down.


The main trend range between .7372 and .7712 with a retracement level at .7542 and .7502 as the next lower target. With the uptrend of the market,  the buyers will most likely return to the test zone. For short-term, the range is between .7712 and .7571 with the retracement area at .7642 and .7658 which is the next upside target. Sellers might counter the trend belligerently and attempt to create a secondary lower top in the next test.


The closing during Friday was positioned at .7600, similar to the price movement this morning. The direction of the AUD/USD pair highly depends on the trader’s sentiment to the downtrend angle at .7592.


When the .7592 is held, this signifies the presence of buyers in the market and could further go up with the potential targets at .7632, .7642, .7632 and .7658 levels. On the other hand, when the .7592 level is kept steady, this indicates the presence of sellers. The target level when the price moves to the downside with the initial target at .7571 then .7542 to .7535 levels.

Traders should monitor the angle at .7592. The reaction of traders will determine if buyers will enter the market or sellers will put in a selling pressure instead.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 12, 2017 3:38 am

GBP/JPY Technical Analysis: July 11, 2017


The British pound attempted to soar against the Japanese yen but failed as it pulled back to the 147 level. The market has been advancing in the long term more like grinding and gain from small increments.


It seems that the market is going to decline for any particular period of time since the Bank of Japan will most likely maintain its low borrowing rates for long-term. Whilst the Bank of England might increase its rates in near-term and after some time, the price could break towards the 150 level. Currently, it is a little bit over extended laterally that makes grinding a way to gain impetus and proceed to the upper channel for long-term.


Buying dips would be an ideal to gain in short-term but restricted to not so good moves (20 to 30 pips is attainable). However, if it breaks lower than the 146 level then this could proceed lower towards the 145 handle which can be more supportive compared to the areas being tested as of the moment.


It may be a bit difficult to trade the GBP/JPY pair yet the market signals that they favor the uptrend.  Hence, it is best to hold shorting this pair especially since the 150 is being strongly resistive. However, if this has been gapped, the market could rally much higher for an extended period.

For now, the short-term profits in the market could get bigger once it gains momentum but it still requires more patience to trade this pair in the market.  
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 19, 2017 6:10 am

USD/JPY  Technical Analysis: July 18, 2017


The U.S. dollar surged during the Monday session following a drop in trading. Although the 113 level will become resistive while the 112 region is offering as support of the trend. It is possible that there will be a swaying to and fro of stock traders globally as the earnings data from the U.S. will be released soon.


This would have a strong impact on the pair as the stronger stock market will push the pair higher. A “wait-and-see” sentiment would be the current condition but a breakdown lower than the 112 level would further impel the pair to go down close to the 110 region. On the other hand, if the pair breaks out of the 113 level, this could propel the market towards 114.50 level which was the previous high.


For now, there will be a short-term move up and down which would be beneficial to short traders in the upcoming trading sessions. However, a breakover or below from its previous level that psychological levels are an indication of a gain in momentum which is notable in the current movement.

The market will find its pace and resolve which direction to go and there will be more choppiness more than other things. Short-term traders who rely on Stochastics will benefit in the current condition as it moves in small augmentation.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 21, 2017 9:05 am

EUR/USD Fundamental Analysis: July 21, 2017


The Euro against the U.S. dollar pair rallied despite the ECB President Draghi rhetorics that could not control euro on its lows longer. It cannot be concluded what will happen to euro for it to breakdown for now. The movement of euro raises concerns while the dollar is performing fine for the U.S. whereby the Fed is not doing anything to curb the fall.


Somehow the weakness of the dollar and the strengthening of euro offsets each other that reverses the correction for the EUR/USD pair and pushed it to higher levels more than what the Bulls have expected. In the morning, the pair had a minor correction and declined lower than 1.15 for a shorter period of time before the headlines that have influenced euro to move.


The rate announcement came in, diverted the focus to Draghi's press conference. There was a hint of bearishness but the market situation has been clearly described that the euro economy is going on strong and pushing down the euro won’t do good. The market understood the situation and pushed the EUR/USD pair to climb higher.


In the start of the U.S. session, part of the headlines is the investigation of Trump’s businesses which would add more pressure to the dollar.There is sufficient signal from the dollar to take place that drove the EUR/USD higher towards 1.16. There was a strong selling observed close to the 1.1640 region but if a breakout occurs, the next target will be at 1.18.

For today, there is no major news to be released from the Eurozone or from the U.S. Thus, the market sentiment yesterday will be continued today as long as the pair sustained below the 1.1640 level, there will most likely be a correction.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 25, 2017 10:45 am

EUR/USD Technical Analysis: July 25, 2017


The yields across the eurozone weakened while the US dollar make further progress and the 10-year bund yields moved lower at 0.50% as the spreads of the euro area narrowed, following the sluggish results of the PMI readings based on the doubts of M.Draghi to get involve with the QE tapering.


The fresh dip in long yields influenced the EURUSD, however, the remarks from Mersch yesterday verified the postponement and not the cancellation of the QE. Moreover, the ECB will reduce the volume of its asset-buying program which is expected to start earlier in 2018.


The euro-dollar pair rallied to its renewed 23-month high around 1.1694 level and headed lower amid the balance of the trading hours to close the day.


The support for the pair entered the 1.1523 region that is near the 10-day moving average. The resistance reached the 1.1717 mark near the highs of August 2015.

The momentum is still positive as the moving average convergence divergence (MACD) index prints in the black linked with an ascending trajectory and seen pointing to a higher exchange rate.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 Jul 31, 2017 11:06 am

EUR/GBP Technical Analysis: July 31, 2017


The Euro against the British pound surged during the Friday session although there some resistance found close to the 0.8960 level. The market had a roll over for the few hours but was limited by the resistance level. There is much support found below that proceeds to market higher.


The next target would the 0.90 level and if the price breaks more and pushes the price towards 0.92 level for long-term. The 0.89 level below persists to be supportive that makes a breakdown far to happen. As shown in the weekly chart, the market sees the 0.89 level to be the support level.


Traders proceed to buy on the lows as it persists in supporting the euro currency. A breakout of both currencies occurred against the U.S. dollar although the market favors the euro more which is reflected in the pair. After some time, there is a lot of volatility in the market directed upward.

Shorting this pair may not be ideal but the once the price breaks higher than the 0.90 level. Buyers will turn more hostile as the psychological level of resistance. However, if the price gaps below the 0.89 level which is extraordinarily bearish that would adjust the short-term trend.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
Registration date : 2016-10-03

View user profile

Back to top Go down

GBP/USD Technical Analysis: August 2, 2017

Post by Andrea ForexMart on Wed Aug 02, 2017 11:24 am

There is high volatility during the Tuesday session as it reached the 1.3250 level but was reversed later on. It seems that the 1.32 level is being supportive as the trend proceed moving higher.


A break lower would push the market for a support towards 1.3150 level then to 1.31 level. The British pound is going to be sensitive to a lot of noise which is anticipated as amid the negotiations from the European Union and the United Kingdom. Hence, traders should be cautious of the of any abrupt changes in this pair.


The bullishness could persist for the long term. Although, this has been quite extended in the present time. A pullback opens more opportunity to make use of the current value. The market could target for a 1.3450 level above which the peak of the consolidation for the past few months.

However, if the market successfully gaps higher than the 1.3450 level, the next retest would be at 1.35 handle. A breakout would mean large bullish tone but it will not be long before the currency starts to rally once again. There will be high volatility from the start until this period ends.
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
Registration date : 2016-10-03

View user profile

Back to top Go down

GBP/USD Fundamental Analysis: August 3, 2017

Post by Andrea ForexMart on Thu Aug 03, 2017 9:16 am

The main focus for today will be on the sterling pound as there are an expected economic releases and other data from the United Kingdom for this day. We await for the UK inflation hearings along with the rate announcement of the Bank of England to be issued. Also, BOE Governor Mark Carney will conduct his speech, therefore these events would likely cause high volatility for the GBP/USD.


The central bank of England was hawkish during their last meeting which led few markets to think that rate hike is possible sooner or later. There are three BOE members who agreed for a rate increase which triggered confidence for some markets, however, this only accounts a small portion of the market because the majority still believes that the bank will maintain its benchmark.


This is considered a logical approach regarding the continuous financial circles of Britain which could be a turmoil caused by the Brexit procedures. Moreover, a lot of things remain unclear, particularly the results of the referendum process in determining if it will a soft or hard Brexit. Due to many uncertainties, it is absurd for the BOE to make an increase and most likely, they want to see first the effect of the Brexit negotiations prior making such decisions.

The pound-dollar resume to consolidate yesterday and the range near the highs of its range are expected for this very important day. In case that the BOE decided to kept rates steady, the Cable is anticipated for further correction. The 1.3250 level serves as the ceiling at this moment.




[You must be registered and logged in to see this link.]
avatar
Andrea ForexMart

Female
Number of posts : 638
Location : Russia
Reputation : 1
Points : 642
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 7 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