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AppleFXMart · Guru

Daily Market Analysis by ForexMart

AppleFXMart · Guru

GBP/USD Fundamental Analysis: March 29, 2017

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

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

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

AppleFXMart · Guru

NZD/USD Technical Analysis: March 29, 2017

The New Zealand dollar came in weaker before the speech of Janet Yellen on Tuesday, but its sluggish position was limited since the kiwi received support from the recovery in petroleum prices.

The NZD/USD kept intact under the level 0.7050 with a tight range. The major continuously weaken during the morning as the pair declined towards 0.7000. Traders were unable to drove the major below the mentioned region lacking strength to reverse its losses.

The NZ currency spent the day within the mark prior to the opening session of New York. The NZDUSD made a gap through 50-EMA lower and stayed on top of the 100-EMA based from 4-hour chart. Moreover, the 200-EMA preserve a bearish slope, 100-EMA seems neutral and 50-EMA turned upwards.

Resistance touched 0.7050 area, support reached 0.7000 mark.

The histogram stalled in the centerline. If the MACD entered the negative zone, it will signal increasing strength of sellers. However, when the indicator dive into the positive grounds, buyers will acquire the power to manage the market. The RSI oscillator stirred downwards.

The price focuses on a stable support near 0.7000 loss by which could possibly trigger weakening within the 0.6970 0.6950 ranges.

AppleFXMart · Guru

EUR/USD Fundamental Analysis: March 30, 2017

The EUR/USD pair had a very dismal trading day yesterday as the currency pair surpassed 1.0800 points and reached 1.0700 where it would be most likely met by a lot of buying which means that the currency pair might receive additional support within this range. These string of events was enough to keep the EUR/USD pair under significant pressure for the rest of the trading day. The EUR/USD pair remained under downward pressure since yesterday was the scheduled invocation of Article 50, which is expected to have a long-term effect with regards to the status of the euro currency. However, as of now, there has been no change detected yet as far as the euro is concerned.

There were reports swirling around yesterday that the ECBs message regarding the reasons behind the euros well bid was being subject to over-interpretations from market players. The European Central Bank had previously stated that the EU economy was slowly gaining an upward momentum and is slowly achieving the goals set by the ECB. The market took this as a hint of the start of the QE and which will be reduced by the ECB in the succeeding months. However, yesterdays reports have shown that the central bank might not be so keen on the said QE and could only mean that the eurozones economic risks were tapering off. This led to a minimal sell in the euro which, along with the USD strength, helped propel the EUR/USD towards 1.0700 points.

However, buyers can start buying this currency pair once it actually hits 1.0700 since the heavy support within this range can lead to more buys in this region. For todays session, there are no major economic data coming from the eurozone but the US will be releasing its GDP data and this is expected to paint a general picture of the current state of the US economy.

AppleFXMart · Guru

USD/CAD Technical Analysis: March 30, 2017

The commodity-linked pair is confined to a familiar range yesterday. The price was positioned in the middle points of 1.3400 and 1.3350 within the day.

The overnight recovery slowed down in the earlier trades as the spot attained the channels upper limit.

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

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

Resistance is at 1.3400, support holds 1.3330 mark.

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

As mentioned in the same timeframe, technicals confirm a downwards continuation to 1.3330.

AppleFXMart · Guru

EUR/USD Fundamental Analysis: April 4, 2017

The EUR/USD pair traded consistently as the market is currently in the process of preparing itself for the series of economic data set to be released later this week. Analysts have been saying that the currency pair would most likely continue consolidating for a maximum of two days as part of the markets preparation for the expected string of data coming out within the week. This is why the EUR/USD pair was trapped within a range of 40 pips for the entirety of yesterdays session which is barely half of its usual range. This could be attributed to the majority of traders wanting to be on the safe side of the market as the 2nd quarter of the year begins.

The US released its ISM manufacturing data yesterday, with the said data meeting market expectations and has helped the USD to maintain its stance. The US Treasury yields plummeted during the NY session and had very little effect on the USD in spite of its major effect on stocks and the Japanese yen. The NFP report and the FOMC minutes are set to be released during the latter part of this week, and the market is now anticipating the statements coming from the Fed especially since Yellen had previously stated that the central banks stance on future rate hikes would depend on the state of the nations economic data.

For todays session, ECBs Draghi is set to make a speech during the NY session but since the central bank governor is known to be neutral when it comes to the ECBs monetary policy, the market expects no impact coming from this statement and it is highly likely that the EUR/USD pair would only continue to consolidate between 1.0600-1.0700 points as it waits for significant pushes toward a definite direction.

AppleFXMart · Guru

USD/CAD Fundamental Analysis: April 5, 2017

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 pairs 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 countrys economy. The trade balance data was at a negative while the market was expecting a positive reading, and this basically means that the countrys 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 todays 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 pairs price touches the 1.3500 range, then this could be a great opportunity for a stop loss.

AppleFXMart · Guru

GBP/USD Fundamental Analysis: April 5, 2017

The GBP/USD pair continues to consolidate within the 1.2400-1.2500 region as the market is anticipating the release of the FOMC meeting minutes as well as other several important economic data which are all scheduled to be released today and later within the week. The market has previously been predicted to be generally very lackluster with little volatility levels due to several traders preparing themselves for the slew of economic data which will be released in the coming days.

The UK PMI data has just been released and since this has met initial market expectations, this has put a stopper to the dangerously high levels of selling which affected the GBP due to the disappointing economic data released last Monday. As of the moment, pound traders are teetering off the edge as the Brexit process has now officially commenced and since there are no clear expectations with regards to how the negotiations between the UK and EU officials are about to pan out, traders are uncertain whether to go short or long on the GBP/USD pair and is now waiting for the release of economic data today as this will be their basis for their trading decisions on the GBP/USD pair as well as to have an inkling with regards to the state of the economy.

The GBP/USD would most likely be bogged down by the uncertainties of the Brexit process, with UK citizens possibly cutting down on their spending habits as they prepare for the worst repercussions. Once everything clarifies, then it would enable a clearer analysis of Brexit as well as an accurate depiction of the UK economy. For todays session, the UK PMI data will be released later and the US will also be releasing a slew of economic readings, such as the ADP Employment change data, the FOMC minutes, and the Manufacturing PMI data. These are all expected to induce volatility in the GBP/USD pair, with the pair possibly advancing towards 1.2600 points.

AppleFXMart · Guru

EUR/USD Fundamental Analysis: April 5, 2017

The EUR/USD pair is still trading within a very limited range, although the pairs bulls have somewhat managed to maintain its hold on the currency pair in spite of the pairs inability to move in any definite direction for quite a while now. The pairs 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 firms analysts had the said information but regardless of Lackers 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 todays 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 pairs bulls are most likely to dominate the pair and could enable the EUR/USD pair to inch higher during todays series of sessions.

AppleFXMart · Guru

EUR/USD Technical Analysis: April 5, 2017

The single European currency earned support from the upbeat figures of Eurozones Producer Price Index (PPI).

The bigger picture showed negative stance on Tuesday. The EUR sustained a neutral position in the morning. The major were trading in a tight channel within the middle points 1.0650 - 1.0675.

The downward pressure were fuelled up in the afternoon. Sellers struggled to break under the handle, however, they were unable to achieve it.

As the 4-hour chart delineated, the spot attempted to made a gap through the 200-EMA and hovered around it. At the same time, the 100 and 50-EMAs faced lower while 200-EMA is in the neutral seat.

Resistance came in at 1.0700 level, support is at 1.0650 mark

MACD histogram softened indicating a sell signal. The RSI trailed downwards confirming sellers strength.

The EURUSD pair contains a moderate bearish perspective. A move down from the 1.0650 region would trigger bearishness near 1.0600 range.

AppleFXMart · Guru

GBP/USD Technical Analysis: April 5, 2017

The British pound whittled away its strength after the downbeat figures of PMI Construction of Britain. Moreover, the sterling attempted to made a reversal in the night as the sell-off took place last Monday.

On one side, the buyers send the price back through the 1.2500 region and the major tend to move towards renewed offers. The GBPUSD spent the day under the selling pressure in the course Asian mid-session.

The spot lose its legs throughout the night and move close to 1.2400 in the first part of the day. The downward pressure was short-lived enabling the major to recover few of its losses.

Given in the information from the 4-hour chart, the spot rebounded the 50-EMA lower in the Asian trades, it further tested the 100-EMA in the day. The 100-EMA cross over the 200-EMA and resumed an ascending trend. The 50-EMA drove down and the 200-day moving averages were neutral as indicated in the timeframe.

Resistance approached the 1.2500 area, support take control of 1.2400 region.

The MACD histogram slumped which signaled sluggish position for the buyers. RSI headed southwards, confirming an ongoing downtrend.

A move down from the 1.2400 level is the next most possible scenario.

AppleFXMart · Guru

AUD/USD Technical Analysis: April 5, 2017

The Reserve Bank of Australia (RBA) coincided expectations as they maintained its rate. The Australian dollar lose its legs after the release of weaker statistics for labor and inflation. Furthermore, the AUD was laid out near the pressured area on Tuesday. With this, the spot took a dip on its renewed multi-week lows on Tuesday.

The price was removed from the region 0.7600 during the daily open. The Aussie extended its trading near the negative zone throughout the night until it reached 0.7550 level the next day.

The easing of the selling pressure took place over the handle while the major attempted to begin a consolidation.

The AUDUSD resumed its development below the moving averages specified in the 4-hour chart. It further presented the 50-EMA to crossed down to the 100 and 200-EMA alongside the crossover set by 200-EMA to the 100-EMA. Moreover, the 100-EMA became neutral as the 200 and 50-EMAs continued a downtrend.

Resistance pierced 0.7600 area, support is at 0.7550 mark.

The MACD histogram dwindled highlighting strength for the sellers. RSI indicator settled in the oversold grounds, indicating a fresh downward trend.

The commodity-linked pair stalled near 0.7550 and the downfall is anticipated to last longer. The next focus of the pair would probably the support 0.7500.

AppleFXMart · Guru

NZD/USD Technical Analysis: April 6, 2017

The economic calendar of New Zealand appeared to be uneventful, however, the major got some support from the positive remarks of Moodys triple-A rating for New Zealand. On one side, the US dollar remained to be in control prior to Trump-Xi Summit.

The NZD/USD maintained a neutral stance confined over 0.6950 level throughout the night session. The spot witnessed renewed offers in the first part of the day and headed downwards. The pair continue its attempt in reaching its 3-week lows later today.

As defined in the 4-hour chart, the spot remained to develop under the moving averages as the 50 and 200-EMAs dive lower. Furthermore, the 100-EMA pushed higher and the 50-EMA go over the 100-EMA.

Resistance is at 0.7000 mark, support is found at 0.6950 area.

The MACD histogram preserved the same grounds indicating strength for the sellers. RSI indicator touched the undervalued zone, confirming additional move upwards.

The commodity-linked pair is expected to resume its negative sentiment. A close under support region 0.6950 would likely see the pair to persist a downturn to 0.6900.

AppleFXMart · Guru

GBP/USD Technical Analysis: April 6, 2017

The British PMI Services exceeds anticipated results providing support for Britains currency. The Great Britain pound came in positive during Asian trades yesterday. The major were developing well over the night. Also, the GBPUSD met a renewed buying-wave amid morning session of Europe.

The price continued to grow and spiked towards 1.2500 region, but the spot found a selling interest stalling its progress.

It can be witnessed in the 4-hour chart, the major to test the 50-EMA and kept its position. Moreover, the timeframe outlined the 50-EMA downward trend, 100-EMA preserved a bullish pattern and the 200-EMA arrived neutral.

Resistance came in at 1.2500 mark, support pierced 1.2400 level.

The MACD histogram sustained its previous stance confirming sellers strength. RSI oscillator aimed higher.

Regardless of the fresh buying interest, the pair has uncertainties for its future. The buyers appeared slightly weak in sending more gains causing the sterling to move to the downside. The pair had to touch below the range 1.2450 to bring about a new downward impetus to test 1.2400.

AppleFXMart · Guru

EUR/USD Technical Analysis: April 6, 2017

The weak Eurozone PMI place pressure on the common European currency yesterday. The EUR/USD fixates on the release of ADP employment report and FOMC minutes later this day.

The EUR appeared neutral in the morning. The price moves in a familiar trading range positioned between the points 1.0650 and 1.0670.

The rebound occurred on Tuesday supported the spot to reach the upper limit of the range by which the upward momentum dwindled. The pair trailed the bands upper limit and advance lower in the middle of the day amid EU hours.

As specified in the 4-hour chart, the pair rebounded below the 200-EMA and the 50-EMA resumed a downward trend. While the 200 and 100-EMA drove higher.

Resistance is found at 1.0700 region, support hit 1.0650 mark.

The MACD histogram strengthened which showed weakening for the positions of sellers. The RSI headed northwards confirming a current upward impetus.

It is recommended to remain neutral unless clear signals were obtained. A break in the 1.0650 area targets the next level at 1.0600. Should a rebound occurred within the mentioned range allows the buyers to regain the control and posting the market near 1.0750.

AppleFXMart · Guru

EUR/USD Fundamental Analysis: April 6, 2017

The EUR/USD pair is yet again trapped within a very limited trading range, which has been the pairs dominant trend ever since the start of the week. The slew of economic data from the US economy did little to push the currency pair through its current range, although it has tested both barriers but has not yet come close to breaking through this particular range. However, the market is expecting the currency pair to make a breakthrough anytime within this week, and a break in any direction is expected to be very large-scale, with runs possibly occurring.

The EUR/USD pair traded tightly during the Tokyo and London sessions yesterday as it awaited for the release of economic data from the US. The ADP employment report was the first to come out, with the said data exceeding initial market expectations of less than 200K after it came out at 250K. Although last months reading was revised as a result, 250K is still a very strong average if we take into consideration the reading for the two previous months. This also marked the continuation of a steady stream of positive data from the US economy. In addition, this also put the EUR/USD pair under pressure and tested its range lows of 1.0630 although it made a small recovery towards the end of the session.

Next up was the release of the FOMC meeting minutes, which was very lackluster as it did not contain any relevant information for traders. The said minutes contained only balance sheet discussions and did not induce enough volatility for the EUR/USD pair. The USD was also put under pressure as the majority of House members expressed major uncertainties with regards to Trumps tax plans, and this has helped the EUR/USD to recover towards 1.0680 points.

For todays session, there are no major news releases from the EU economy although the US will be releasing its unemployment claims data. The USD is expected to remain under pressure for the duration of todays session, with the EUR/USD remaining afloat and could possibly break through its range highs at any point within todays session.

AppleFXMart · Guru

GBP/USD Fundamental Analysis: April 6, 2017

The GBP/USD pair continued its current trend of trading within 1.2400 and 1.2500 points, something which is already pretty much anticipated by analysts yesterday. The GBP/USD pair is expected to break through this trap any time now, but even if it does manage to surpass this particular range, there is still a lot of resistance and support amounts on both barriers and the currency pair is not expected to go far in terms of its range. It would take a lot of clearing up for the Brexit process including its ongoing negotiations before the market can form a substantial opinion regarding the current status of the British economy, and only then will the sterling pound be able to move towards a specific direction.

The UK Services PMI data was released yesterday and came in at a much better reading than what was expected in the first place. This has then helped to offset the imbalance caused by Mondays PMI data, which was generally a disappointment to the market. The ADP employment report also exceeded market expectations and this has caused the GBP/USD pair to test its bottom range at 1.2450 but was still unable to surpass this particular boundary. The FOMC minutes then got released during the latter part of yesterdays session, although this had almost no effect on market volatility. There were also news regarding concerns surrounding Trumps tax plans, and this has put significant downwards pressure on the US dollar and caused the GBP/USD pair to advance towards 1.2500 points.

There are no major news releases expected from the British economy although we do have the US unemployment claims data set to be released later today. The SUD is most likely to remain under pressure today, and the GBP/USD pair could possibly test 1.2500 points, and could even reach 1.2600 points if it manages to break through its current range.

AppleFXMart · Guru

USD/CAD Fundamental Analysis: April 6, 2017

The USD/CAD surged in value during yesterdays session following a series of strong US data and a drop in oil prices. Although the US dollar decreased significantly as a reaction to a very disappointing FOMC meeting minutes, it has still somewhat managed to maintain its grip on its advantaged against the Canadian dollar and is currently trading at its safe zone of just under 1.3450 points and could possibly be poised for more gains within the day. The pairs bulls are currently at ease since the USD/CAD has managed to surpass its range highs of 1.3400 points. However, there is still the heavy resistance found at 1.3500 points which could possibly be overtaken by the pairs bears.

The ADP employment change data from the US came out on a very impressive note yesterday, and this has enabled the USD/CAD pair to break the 1.3400 barrier. The pair was also generally unaffected by the dismal FOMC meeting minutes, and was even unshaken by Trumps tax plans which are currently in hot water from House members. The major reason for this is the CADs significant backing from a drop in oil prices after it fell from $52 and is now priced at just $51. This was mostly because of the API data which exhibited a major buildup, bearing bad news for the CAD and thereby pushing the pair towards its range highs of 1.3450 points.

The Canadian economy is not set to release any important economic data until tomorrow, while the US will be releasing its unemployment claims data today. The USD/CAD pair is then expected to merely exhibit ranging and consolidation for the time being.

AppleFXMart · Guru

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.

AppleFXMart · Guru

GBP/USD Technical Analysis: April 7, 2017

The national currency of Britain remained neutral in the morning. The GBP/USD stayed within its fresh highs during the night. The major was selling aggressively during the first part of the day as the price declined near 1.2460 level.

Having renewed its sessions lows the spot cool down. Meanwhile, the British pound was unable to resume its advancement and turned back in the mark amid late session of Europe.

A renewed selling pressure emerged prior the onset of New York hours. The major lost its strength as it moves towards the region 1.2420.

The spot kept intact around the 50-EMA while 100-EMA trailed lower determined in the 4-hour chart. Furthermore, the 50 and 200-EMA came in neutral.

Resistance is found at 1.2500 mark, support entered 1.2400 region.

The MACD histogram lies at the centerline. On one side, the indicator entered the positive grounds, it will show increasing strength of the buyers and on the other hand, a return to the negative territory would let the sellers be in the drivers seat. RSI alighted neutral.

The bullishness remain unless we witness a break on top of 1.2450 range. Buyers struggled to regain 1.2500 in the next sessions. Otherwise, the 1.2400 area is considered the next intraday support and probably a bearish objective.

AppleFXMart · Guru

USD/CAD Fundamental Analysis: April 17, 2017

The USD/CAD pair has continued to trade within a very limited range of 150-200 pips, which has been the pairs dominant trend for the past few weeks. The currency pair was unable to make a breakthrough on both sides in spite of the several economic data released which is pushing the currency pair on both sides, proving to be very frustrating for the currency pairs traders, particularly for those who want to trade with the USD/CAD pair in the long run. Now that the market is entering the latter half of the month, the USD/CAD pair is expected to range and consolidate in the coming weeks.

Last week, the US dollar dropped across the board following comments from Trump concerning the dollar strength as well as the weak interest rates of the nations economy. In addition, the BoC has also maintained their current rates and has refused to give out any hints with regards to the central banks main course of action. This has then caused the USD/CAD pair to drop down to 1.3300 points and seemed poised to reach 1.3000 points. However, as last week came to a close, the dollar was able to regain its footing, causing it to recover against the Canadian dollar and causing the USD/CAD pair to revert to the 1.3200-1.3400 trading range as it was able to secure a strong profit taking as last week came to a close. In addition, oil prices also surged last week and has managed to settle within $53-$55, ensuring that the USD/.CAD pair remains within its tight trading range.

For this week, the Canadian economy will be releasing its CPI data as well as the unemployment claims data and the oil inventory data from the US economy. These are not expected to bring in additional volatility for the USD/CAD pair and should put the currency pair within its current trend of ranging and consolidation.

AppleFXMart · Guru

GBP/USD Fundamental Analysis: April 17, 2017

The GBP/USD pair had a very stellar trading week last week as the US dollar crashed during the first part of last week. Although the USD has somewhat managed to recover its losses as the week came to a close, the sterling pound bulls had already held their ground, causing the currency pair to close down last week on a much higher note and just over the significant support barrier at 1.2500 points. This week is looking to be pretty hopeful as far as the GBP/USD pair is concerned especially with a string of important economic events set to be released within the week.

The dollar crashed last week as a result of Trumps comments with regards to dollar and FX rates and this has caused the dollar to undergo a major selloff immediately after the comments were released. In addition, Trump had already more or less confirmed that the US will not be considering China as a currency manipulator, adding this to the list of campaign promises he had failed to carry out. This caused another dollar selling and sent the GBP/USD pair soaring through 1.2500 and reaching 1.2600 points. More than half of the currency pairs increase was retracted, however, as the currency pair was met with major sells as it reached 1.2600 points.

For this week, The US will be releasing some small-scale economic data while the UK economy will be observing a market holiday on Monday but will be releasing its retail sales data and Carneys speaking engagement will commence during the latter part of this week. However, currency traders are not expected to commit themselves too much on the GBP/USD pair since there are still a lot of uncertainties on the Brexit process, and any reversion can be seen as a stable place for a selloff.

AppleFXMart · Guru

EUR/USD Fundamental Analysis: April 17, 2017

The EUR/USD pair again exhibited a ranging and consolidation action for the second consecutive week as the currency pair was unable to make any significant progress on both directions. There were a handful of economic and geopolitical events that were released last week but these had virtually no effect on the currency pair as the EUR/USD pair merely stuck to its current range even though the pairs buyers and sellers wrested control of the currency pair from each other.

The highlight of last weeks economic data was Trumps comments wherein he stated that he preferred the US economy to have relatively low interest rates for as long as realistically possible, which means that it is highly likely that he will appoint dovish Fed officials, sending a shock throughout the market who are expecting more interest rate hikes in the months to come. He also added that the USDs value is a tad bit too strong as compared to other currencies which are kept weak on purpose by their respective economies, and this backfooted the dollar and sent the EUR/USD pair from 1.0600 to 1.0700 points. However, upon reaching 1.0700 the currency pair was met with a lot of selling, and as the US economy released some pretty good data this has caused the EUR/USD pair to revert to 1.0600 and is now currently situated at just over this particular range.

For this week, there are no expected releases coming from the EU economy although the US will be releasing its unemployment claims data and the Manufacturing index data. These are not expected to impact the currency pair and as such, the EUR/USD pair is expected to continue its current trend of ranging and consolidation for the duration of the next two weeks.

AppleFXMart · Guru

USD/JPY Technical Analysis: April 17, 2017

The U.S. dollar against the Japanese yen was seen to decline during the Friday session as it moved towards the 108 handle. This opens selling opportunities for near-term as it broke lower than the 50% Fibonacci retracement level while the 50-day Exponential Moving Average transverse lower than the 100-day Exponential Moving Average.

Although, sellers momentum stopped after reaching the 109.00 mark and tried to reclaim the said position after a flat trend during the Thursday session. The pressure grew in during the morning session. The Resistance level was seen at 110.00 while the support positioned at 109.00 mark.

If the pair broke lower than the 108 handle, there is a high possibility for the pair to reach the 105 level. Traders might think twice to buy in short-term and to pay attention for a possible reversal in the price trend. There is still a shot to turn around for a bearish impetus but expect the pair to fall if it will extend lower than the 109.00 level.

AppleFXMart · Guru

AUD/USD Technical Analysis: April 17, 2017

The Australian dollar against the U.S. dollar surged during the Friday session as there is a little rebound seen because of gold and its associated geopolitical risks. Moreover, the high value of the dollar as described by President Trump has worsened the situation that pulled the greenback down compared to a basket of currencies. On a bright side, there is still a chance for the price to break in the higher that the trading range on Wednesday last week, towards the 0.7750 and even higher. This would support the reversals of the pair.

AppleFXMart · Guru

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 yesterdays session, with the pairs bulls mostly responsible for maintaining the pairs 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 pairs 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 todays 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 todays 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.

AppleFXMart · Guru

GBP/USD Fundamental Analysis: April 20, 2017

The market had a generally slow day yesterday as there were no significant events and economic news that could have lent some measure of volatility into the market. But the GBP/USD pair is grateful for this breather especially since it has previously bore the brunt of consecutive hits which brought the pairs value on a much lower level. The effect of Tuesdays polls announcement was felt during the first few hours of yesterdays session as the cable pair was able to surpass 1.2800 points but then immediately corrected and was unable to make any progress beyond this particular region.

The 1.2800-1.2850 region for the GBP/USD pair has been characterized with major selling and this has brought the currency pair down towards 1.2800 and is now trading at just over 1.2750 points. The GBP/USD pair is now expected to encounter a somewhat bumpy trading as traders are now starting to assess the effect of the recent snap elections announcement and if this will have an impact on the Brexit negotiations. There is a very stable resistance barrier at 1.2800 points and now that the cable pair is still very prone to corrections, the currency pair could possibly move towards the now-support level of 1.2650 points.

For todays session, US will be releasing its unemployment claims data as well as its manufacturing index data. A string of speeches is also expected from the BOE governor and the US Treasury Secretary and these are all expected to add up on the pairs volatility levels. A bumpy trading trend is expected on both directions of 1.2800 points for the entirety of todays session.

AppleFXMart · Guru

USD/CAD Fundamental Analysis: April 20, 2017

The USD/CAD pair is now steadily making its way towards the 1.3500 trading range where it is expected to be met with a lot of selling activity. After spending a long time within a very tight range of 150-200 pips, the currency pair has now managed to push itself towards 1.3400 and is now placed at just 1.3480 points. But then again the pairs bears will now be more interested once it reaches 1.3500 points as there are a lot of selling on this region and they would be able to use as leverage the strong resistance on that particular range which has beaten down several buyers ever since 2016.

The most recent weakness in the Canadian dollar is mostly attributed to a very dismal housing data, which clocked in some brand new home purchases. This was even more magnified by a drop in oil prices, which plummeted to 4% during the previous session. And since the countrys economy is highly dependent on oil prices, any weakness would automatically translate to a weak CAD as well. This has manifested yesterday and brought the USD/CAD pair towards 1.3450 and even towards 1.3500 points. The reason behind the retreat of oil prices is due to concerns on whether the oil production cut agreement would still be effective even as the first half of 2017 ends, and this has induced a major downward pressure on the USD/CAD pair. This pressure on the pair could possibly continue as the market will now be watching whether oil prices would go beyond the highly critical region of $50.

There are no major news expected today from the Canadian economy but we do have the unemployment claims and manufacturing index from the US. If the USD manages to stay afloat, then the USD/CAD pair will be safe at its current range.

AppleFXMart · Guru

EUR/USD Technical Analysis: April 20, 2017

The Euro against the U.S. dollar was traded in a limited range following a breakout higher than the 10-day Moving Average on Tuesday. It abated during the night trading session while the U.S. dollar is recuperating. However, this is only a fleeting moment as the buyers dominated again the market comes morning. The uptrend impetus also stopped during the mid-European session. Instead, the price reversed and declined towards the 1.0700 region.

A major support is found between 1.0640 and 1.0750 region while the Resistance level positioned between 1.0750 and 1.0906 area. It maintains its uptrend from 1.0569 level following a consolidation at 1.0737 region. It is anticipated that this could further go up in the next trading sessions towards the next target at 1.0800 area. A clear break lower than the short-term support at 1.0670 completes the uptrend. However, if this does not proceed higher, a profit-taking will take place towards 1.0680 level.

Overall, there is a good momentum as shown in the MACD index with signs of crossover signaling to buy this pair coming from a negative territory. However, it shows a downwards sloping trajectory in the hourly chart. The price activity is in the black which is anticipated to move in an upward sloping trajectory implying a higher exchange rate.

On the other hand, the RSI indicator stayed in a neutral range with a reading of 54 that is a form of consolidation. The hourly chart is showing signs for a bullish trend hinting for a next rebound.

AppleFXMart · Guru

USD/CAD Fundamental Analysis: April 24, 2017

The USD/CAD pair had a somewhat strong performance last week as the currency pair started out within its range and looked to consolidate. However, the pair only managed to break through the very tough resistance region of 1.3400 towards the end of the week, with the pair finally advancing towards 1.3500 points, which has been tagged several times as a highly crucial region since it has prevented the USD/CAD pair to make any significant progress in the past few months, with the bulls failing again and again to break through this range in spite of their various efforts. The rally of the USD/CAD pair was attributed partly to the USDs strength after reports that the Trump administration is still very much interested in implementing a tax plan, with the said tax plan getting implemented possibly within this year. In addition, Trump could possibly outline the details of the corporate tax plan within the week and this could further boost the value of the USD/CAD pair.

The USD/CAD pair was also influenced by the recent drop in oil prices. Oil prices had started out as initially strong, but then eventually dropped after concerns on whether oil producers would still push through with the production cut deals as the market approaches the midyear. This then enabled the value of the USD/CAD pair to reach 1.3500 points where it is currently located.

For this week, the Canadian economy will be releasing its GDP data as well as retail sales data, while the US economy will be releasing its advanced GDP data. If the USD/CAD pair manages to breakthrough cleanly its current region, then the USD/CAD pair could possibly march towards 1.4000 points, although traders should be wary of a possible ranging and consolidation action.

AppleFXMart · Guru

EUR/USD Technical Analysis: April 25, 2017

The currency pair EURUSD breaks upwards towards its renewed highs in 2017 during the Monday opening. The upward momentum reached 1.0900 region and weakened afterward.

The spot became sluggish shortly after that event, falling to the level 1.0850.

Meanwhile, sellers attempted to regain the area but did not succeed because the handle was fully protected by the buyers.

Moreover, sellers continued to strive for the level in the morning. Resistance came in at 1.0900 mark, support approached the 1.0850 range.

According to forecasts, it is probable to consider downward movement near 1.0800 region. The euro is also possible to struggle to fill the gap for the next sessions. In case the buyers remained in control, it will direct the EUR/USD beside 1.0900.

AppleFXMart · Guru

GBP/USD Technical Analysis: April 25, 2017

The British currency became bearish even after it started with a positive stance. The major climb higher during the opening touching the mark 1.2835. But the upward impetus dwindled eventually.

Amid Asian trades, sellers began to drive the price downwards and sent the GBPUSD towards 1.280 level. The pair eyes some renewed bids within the range and successfully reversed its night losses during the middle of the day.

Moreover, the situation, in general, showed similar condition in the morning while the Cable remained to trade in sideways. Resistance is at 1.2900 region, support highlighted 1.2800 area.

Should the sellers break the 1.2800 mark and the support at 1.2700 will probably the next bearish target.

AppleFXMart · Guru

AUD/USD Technical Analysis: April 25, 2017

The AUDUSD is kept intact in the pressured area on Tuesday morning as the North Korean issues recurred. While investors have a light spirit due to high paying assets.

Moreover, traders felt slightly nervous on the back of White House invitation to the U.S Senate with regards on the briefing of N.Koreas situation scheduled on Wednesday.

The flight-to-safety buying will send investors away from Australian Dollar which is one of the currency with high risk and will settle on gold and Japanese Yen which are considered safe haven assets.

Based on the daily swing chart, the main trend is descending. A move with .7610 will help the trend to edge higher. The closing on Monday ended up at .7568 which made a 50% level near .7576 resistance region. This was followed by .7600 and .7611 retracement levels.

Found in the downside is the immediate support .7541 which is a long-term Fibonacci level while .7525 short-term Fibonacci level is followed.

AppleFXMart · Guru

USD/CAD Technical Analysis: April 25, 2017

The U.S. dollar against the Canadian dollar surpassed the 1.3535 Resistance level up to 1.3560 level. This could further go up towards the next target at 1.3600 region. The short term support is progressing in an upward direction from 1.3223 level and it seems that this will persist for sometime. The major resistance level is positioned at 1.3410 and a break lower than the said level indicates the completion of the uptrend.

The pair declined in the beginning of Monday session but recovered after a hammer like candle is formed. The oil market sold off which then influenced the currency and followed through. The market keep /on trying to break higher than the 1.35 level towards the next target at 1.36 handle. It is anticipated that actions in the upper channel would result to a buy and hold condition and may not be favorable to sell this for now. Buyers could return in the market in instanced of near-term reversals with the current condition of the oil market.

AppleFXMart · Guru

USD/JPY Technical Analysis: April 25, 2017

The U.S. dollar against the Japanese year broke higher in the beginning of Monday session maintaining the near term uptrend from 108.13 level. Investors were interested in ordering long yen as it is a safe haven that boosted the dollar to go up. If the pair continues to move within the trading range, this uptrend will most likely persist towards the next target at 112.00 region.

On the other hand, a clear break lower the the support area indicates completion of the uptrend at 110.57 mark and the continuation of the downtrend from 115.50 region. This could further go down towards the 108.13 support in the next retest.

A supportive candle opens buying opportunities since the market is inclined to move higher. Monitoring the short term charts would be the helpful to determined the support of buying pressure in the market and a break lower than the psychological levels would not be a good premonition.

AppleFXMart · Guru

USD/JPY Fundamental Analysis: April 25, 2017

The USD/JPY pair had a very volatile trading session last Monday although it managed to finish the session on a much higher note as investors reacted to the first round of the French national elections. However, the currency pair dropped slightly, an indication that investors were pretty much sure of the election results and were now moving towards other geopolitical events such as the North Korean issues and an impending shutdown in the US economy. The JPY could possibly resume its rally if concerns over geopolitical issues would increase over time. Meanwhile, the USD was also unable to stabilize itself due to a drop in Treasury yields and a very dismal US economic data.

As of the moment, the results of the French elections are showing that Macron could easily eclipse Le Pen in the second round of the elections, which is scheduled on May 7. The USD/JPY pair is not expected to make a significant reaction to the election unless Le Pen would be able to surpass Macrons current lead in the elections. On the other hand, a looming government shutdown is expected from the US economy could possibly happen once the shutdown deadline of April 28 would fail to see the government passing enough legislations to ensure that certain branches of the government would not have to cease operating. Although the economy itself still has some back up funds which could ensure the economic stability of the country for several more months, this is not a good sign for the economy and investors are expected to act in accordance to this particular occurrence. Once this happens, then investors could possibly move towards safer assets such as the Japanese yen.

But the main focus of USD/JPY investors for this week are the events in North Korea, with the demand for safer assets expected to stay in place due to tensions created by the North Korean missile and nuclear program.

AppleFXMart · Guru

EUR/USD Fundamental Analysis: April 25, 2017

The EUR/USD pairs action has been mainly dictated by the results of the first round of the French national elections, wherein Emmanuel Macron has been able to gain a significant headway against centrist candidate Marine Le Pen. As of late, Macron was able to gain a 20% lead against Le Pen, and this has been a very favorable occurrence as far as the market is concerned. The EUR/USD pair managed to break through its bearish trend last weekend and has commenced yesterdays session by reaching an all-time high of 1.0919 points before settling to lower trading points.

If Macron manages to again win the second round of the French elections this coming May 7, then the eurozone currency could possibly breach higher levels and could hit 1.1300 points. However, this headway is still not enough to tone down market woes, and the final results of the elections would have to come out first before investor concerns would completely die down especially since the market is still somewhat reeling from geopolitical events which took a turn for the worse during the last minute, such as the Brexit referendum and Trumps victory last year.

The German IFO Business Confidence data came out yesterday and clocked in its highest levels reached since 2011. This coming Thursday, the European Central Bank will be having a monetary policy meeting followed by a press conference immediately after. The central banks interest rates are expected to be maintained by ECB officials, although market players are expecting pointers on whether there will be possible adjustments on the central banks asset-buying mechanism.

AppleFXMart · Guru

GBP/USD Fundamental Analysis: April 25, 2017

The GBP/USD pair maintained its current consolidating trend and is now situated within the bottom rung of its trading range at 1.2775 points. The currency pair traded with a slightly bearish undertone for the third straight session and is still struggling to reach last weeks surge caused by Theresa Mays call for a snap election this coming June.

The USDs recovery seems to be the only that is maintaining the downward pressure on the GBP/USD pair, especially since Trumps proactive economic policies are now lending some much-needed support for the currency pair. This is why the majority of market investors are anticipating Trumps large-scale tax cut policies which is set to be released within the week.

For todays session, the UK economy is expected to release its UK Public Sector Net Borrowing data, while the US economy will be releasing the US Conference Boards Consumer Confidence Index which could possibly be the main attraction of the NY session later today. In addition, the US will also be releasing its new home sales data, House Price Index or HPI, and Richmond Manufacturing Index data.

AppleFXMart · Guru

EUR/USD Technical Analysis: April 26, 2017

On Tuesday, the Euro bulls were able to win back the drivers 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.

AppleFXMart · Guru

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 bands lower limit during the first part of the day and rebounded afterward.

The spot stalled having touched the ranges 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.

AppleFXMart · Guru

AUD/USD Technical Analysis: April 26, 2017

The Australian currency became negative yesterday. The AUDUSD surpassed the 0.7550 region during the first part of the day and resumed to trailed down near 0.7500 level.

The commodity-linked pair highlighted the mark amid late trades of Europe. While technical indicators showed a bearish trend. Resistance is seen at 0.7550, support lies at 0.7500 range

Furthermore, a daily close under 0.7500 mark would expose for attack the 0.7450 mark.

AppleFXMart · Guru

EUR/GBP Technical Analysis: April 26, 2017

The Euro against the British pound declined on Tuesday after it broke above the 0.85 level giving a bullish tone in the pair. Consequently, the market will try to push the price higher possibly towards the 0.86 handle. If the price breaks lower than the base of the hammer pattern formed during Monday session, this will reverse the trend and will become bearish as they try to recover. It is anticipated for the pair to have very high volatility which traders should be cautious of.

AppleFXMart · Guru

GBP/JPY Technical Analysis: April 26, 2017

The British pound against the Japanese yen dropped during Tuesday trading. There is significant support found at 140 level that could reverse the trend and for a massive green candle pattern. The market will try to break the price even higher up to 145 handle. The 140 level could now become the support of the pair. The pair is moving upwards that seems to be in a longer term. The British pound broke its psychological levels and which may last for some time.

AppleFXMart · Guru

USD/JPY Technical Analysis: April 26, 2017

The USD/JPY pair exhibited a significant rally during Tuesdays trading session after it garnered enough strength to break through the 111.000 trading range. The USD/JPY pair will now try to break 112.000 points but then there are a lot of occurrences which could dampen the currency pairs advance towards this particular range. Positions on the JPY have recently dropped as there are now beginnings of a bullish undertone in all the related currency pairs.

However, the resistance levels for the USD/JPY pair is still undeniably strong, and this means that traders should be wary of putting their full confidence into the price action of the USD/JPY pair. Short-term corrections could be seen as an opportunity to buy into the pair, but traders are advised to go short with the Japanese yen as opposed to other currencies in addition to the US dollar.

Resistance levels for the USD/JPY pair are expected to be at 111.35 points, which could be a major selling point once the pair reaches 111.75 points.

AppleFXMart · Guru

EUR/USD Fundamental Analysis: April 26, 2017

A lot of market players have been saying during the start of the week that the EUR/USD pairs momentum would most probably enable the pair to advance towards 1.0900 and could even reach 1.1000. The currency pair is now trading at just under 1.0950 points, with trade-attributed risks continuing to hound the market as an effect of the very positive news from the eurozone over the weekend.

The results of the French national elections over the weekend showed Emmanuel Macron gaining significant headway against centrist candidate Marine Le Pen, with the opinion polls showing that Macron could possibly eclipse Le Pen further in the second round of the elections this coming May 7. Macron is considered as the more euro-friendly between the two candidates, and a Macron victory would translate to a very positive effect for the euro. On the other hand, we have seen the dollar weakening drastically across the board, and this has prompted several investors to pull out from safer assets and invest instead in the stock market and in the euro. In addition, Trumps consistent statements with regards to building a wall and renegotiating its trade relations with Canada, and these kinds of statements are usually not well-received by the market and this dissatisfaction is evident by the number of market players who sold off the US dollar.

The EUR was able to clear up its annual highs within the 1.0900 trading range, and as such, the EUR/USD pair is expected to advance further towards 1.1000 points. For todays session, there are no major releases coming from the EU economy, and the EUR/USD pair is expected to go higher as the day progresses. The euro rate announcement will also be released during tomorrows session, and the EUR/USD pair is expected to receive leverage from this particular piece of information.

AppleFXMart · Guru

GBP/USD Technical Analysis: April 28, 2017

The currency pair Great Britain Pound to US Dollar is seen trading around 1.2903 area. The Cable successfully refreshed the local maximum level but the head and shoulders reversal pattern formed at the MACD histogram.

The signal line remained in the MACD limits and we do not rule out the possibility for sterling to edged higher.

Should the GBPUSD rose would test its potential to reach the upper boundary of the increasing channel. The target for fall is the range within the support 1.2650 mark.

Canceling the version of declining quotations would signal a stable growth and further breakdown within the 1.2980 level while the expectation for continuous growth will extend around the decline of the upper boundary of the ascending channel.

According to projections, the pair will accelerate its downfall alongside the drop slow MA level and its daily close at 1.2760 region.

AppleFXMart · Guru

USD/CAD Technical Analysis: April 28, 2017

The greenbacks showed high volatility versus its Canadian peer amid Thursday trades. An initial rally occurred because of the possible withdrawal of the US to the NAFTA agreement, however, retreated due to the statement of President D.Trump that it will not take effect immediately.

Eventually, the oil price has been falling that influenced a bullish trend to prevail the market.

After analyzing the chart, the psychological level was broken which requires the bullishness to remain.

Moreover, the USD/CAD hovered on the rising channel on Thursday. The price had a steep decline during the mid-session of Asian hours. The spot rebounded the channels upper boundary and continued to slump downwards.

The bears weakened after tolerating the buyers to regain minor portion of its losses. The commodity-linked pair bounced from the area 1.3540 in the onset of the European session, reaching 1.3600 in the noon.

Meanwhile, technical indicators showed mixed signals. The RSI and MACD established some correction as the EMAs appeared to be bullish. Resistance came in at 1.3600, support approached 1.3540.

The pair could possibly attempt reaching 1.3600 region. The next objective of the buyers is at 1.3660 range.

AppleFXMart · Guru

AUD/USD Technical Analysis: April 28, 2017

The Australian dollar against the U.S. dollar surged during the Thursday session. Although the 0.75 area was being resistive and a break at 0.7540 level indicates completion of the downtrend. This reversed the trend as it reached below the 0.7450 and 0.7439 region. A break lower than the base of the region, the pair is anticipated to continue its decline even in the next few days towards the next target of 0.7400 level. The 0.7375 level becomes a significant support with 61.8% Fibonacci retracement level and it seems that the pair will hold upon this level. The gold market could support the pair to boost demand for the currency.

AppleFXMart · Guru

GBP/JPY Technical Analysis: April 28, 2017

The British pound surged against the Japanese yen on Thursday session after breaking above the shooting star pattern formed in the former session. It indicates bullishness of the trend which could continue to rise higher but few short-term pullbacks are good for the pair. For long term traders, the market could try to reach higher than the 145 handle.

The pound persists in climbing higher because of the relief rally where the centrist candidate, Emmanuel Macron won over the far-right rival, Marine Le Pen. Japanese yen being a safe haven dropped abruptly over a week amid a risky environment.

The GBP/JPY pair rose sharply to break the major downtrend line moving up to 148.00 level despite the Brexit tension has passed and lower demand for safe-haven assets such as yen. The rally has been sustained until Thursday session that also pushed the pair higher and hampers unexpected political surprises that also affects global market. The next major resistance level would be close to the 145.00 region. If the market fails to break higher than the 145.00 level, the pair could move again towards the next target of 148.00 resistance region.

AppleFXMart · Guru

GBP/USD Fundamental Analysis: May 2, 2017

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 yesterdays 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 Presidents 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 todays 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 todays session.