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Post Info TOPIC: Daily Market Analysis by ForexMart


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Daily Market Analysis by ForexMart



EUR/USD Fundamental Analysis: May 2, 2017

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

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

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

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USD/JPY Fundamental Analysis: May 2, 2017

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

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

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

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GBP/USD Technical Analysis: May 2, 2017

The British pound dwindled on its previous highs followed by traders decision to sell its stock with higher to value to gain profits. The major declined towards 1.2900 region where the downturn stopped afterwards. The technical indicators showed mixed signals.

Furthermore, the 50, 100 and 200-EMAs exhibited buying signal. The RSI and MACD are trading in the downside. Resistance approached near the 1.3000 level, support touched 1.2900 range.

According to predictions, a break under 1.2900 will generate an area for further negative movement. In line with this possible scenario, sellers are expected to drive the spot towards 1.2800 mark.

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USD/JPY Technical Analysis: May 2, 2017

The USD/JPY provided a bullish sentiment on Monday. A bounced off from the level 111.20 pushed the spot outside the red.

The pair tends to increase throughout the night until the morning. It further moves near 112.00 during the middle part of the day.

Meanwhile, technical indicators owned a positive stance. The 50-EMA have seen to cross upwards the 100-EMA. The RSI together with the RSI increased, en route northwards.

Resistance plunge in the 112.00 mark, support lies at 111.00 region.

Forecast says, maintaining an upward pressure could lead to a breakout within 112.00 region making 113.00 level, the next target of the traders.

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NZD/USD Technical Analysis: May 2, 2017

The New Zealand currency was able to gain higher against its U.S peer during Monday trades, however, encountered some sort of trouble over the 0.69 handle. The market continued to turn around causing a possible drop below the region 0.69 and a long-term downtrend has to remain. Otherwise, a break on top of the 0.6933 mark will lead the market towards 0.6950.

The market decided to sell off but it seems unsustainable which could possibly make a strong rebound.

The NZD appeared to be highly sensitive with regards the general sentiment of the commodity markets. While a cut through over the region 0.6950 would push the market near 0.70 mark but the possibility of this to happen is much lower.

A sharp and temporary pace is probable and part of it came from the May Day celebrations while volumes were light. Considering this, a door for selling opportunity has opened prior the kiwi was beaten up

A monumental risk on rally within the globe is required for a convincing power that this pair could show a buying signal at any moment.

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EUR/USD Fundamental Analysis: May 5, 2017

The EUR/USD pair inched higher during yesterdays trading session after the US dollar dropped in value across the board due to some weak economic readings from the US economy. However, it has to be taken into consideration that these set of data were generally minor ones, such as trade balance, unemployment claims and factory orders. The major economic readings will be released today, and these are expected to induce more volatility into the market as compared to yesterdays levels.

During the past few weeks, the EUR has been consistently strong as compared to other major currencies due to a slew of positive geopolitical and economic readings from the eurozone, which came in the form of the French national elections as well as the Brexit negotiations. These has then made it very hard for usual doves such as Draghi to have optimistic views for the landlocked regions economic status. On the other hand, this has enabled the EUR/USD pair to surpass its range highs during the past two weeks and is looking poised for more although during this period the US dollar was also of higher value as compared to now. The dollar is actually looking forward to a possible rate hike this coming June but strength of the euro can be seen on how the currency pair still manages to hold its ground in spite of this particular bit of news.

For todays session, the wages report as well as the NFP report will be released by the US economy. The wages report will be closely monitored by market players since a lack of boost in the wages report will not be enough in spite of a rate hike possibility and additional employment rates. As such, any inconsistencies with these said data will cause the EUR/USD pair to surpass 1.1000 points and could possibly make its way towards 1.1120 points.

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GBP/USD Fundamental Analysis: May 5, 2017

The GBP/USD pair continues to exhibit a very limited trading range on both sides of 1.2900 points and has been unable to surpass this range which has been the pairs current trend as far as this week is concerned. There have been various types of PMI data coming from the UK economy during the past days and although these were all able to surpass initial market expectations, these were unable to help the cable pair surpass the very heavy resistance range at 1.2940 points.

The cable pair strayed from 1.2900 and went under this range during the previous session but then a string of positive PMI data was able to keep the pair under control and push it back towards 1.2900 points, where it traded within a 30-pip range during the rest of yesterdays session. While the euro was able to take advantage of the dollar weakness yesterday, the sterling pound was unable to capitalize on this development and was instead relegated to trade within its current range. There was a scarcity of significant geopolitical and economic readings yesterday which could have helped the sterling pound to inch higher, and this is one of the reasons why the GBP/USD pair was kept in such a tight range. However, the pairs ranging is expected to be broken later today when the NFP report and the employment data gets released into the market by the US economy, with a breakthrough of 1.2940 points possibly triggering the pair to move towards the very crucial 1.3000 points. An interest rate hike in June is pretty much in the bag, and this is why the dollar will have to maintain its footing via strong economic data which could be released today.

For todays session, a handful of Fed officials including Fed Chair Janet Yellen will be making speeches later in the day aside from the release of important data such as the NFP report and the wages data. These series of events are then expected to increase the market volatility. The pair could either surpass 1.2800 points or make headway towards 1.3000 points.

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NZD/USD Technical Analysis: May 5, 2017

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

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

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GBP/JPY Technical Analysis: May 5, 2017

The British pound paired with the Japanese yen moved to and fro during the Thursday session as it declined lower than the 145 handle although a momentum built up and the trend went back up again. Traders should expect a choppy trading and going for a long-term uptrend that makes pullbacks good to buy.

The next target level would be at 146 level while 145 region gives a significant support in the pair. The long-term availability of this market looks promising but the highly sensitive which means that the job data will definitely have an impact to this pair. If the price breaks lower than the 72 -hour Moving average that is in blue, there will be higher selling pressure but it is best to buy the pair instead.

Furthermore traders should also monitor the stock market that would also be relevant for this pair. It would give a pellucid perspective in the overall condition of the market and determined risks associated. Traders will most likely take advantage of this pair if there is higher buying pressure but remember that there will be choppiness in the market especially as it moves upward. The recent report will have an effect to the pair but would still be in an uptrend. Hence, some support levels below would give buying opportunities in the market especially that this could climb higher.

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USD/JPY Technical Analysis: May 5, 2017

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

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

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

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

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EUR/USD Technical Analysis: May 5, 2017

The EURUSD rallied on Thursday hitting the 1.0950 region which the top of the latest consolidation. As the job number will be release, it is expected the market will struggle to make some progress.

The level below 1.09 appeared to be supportive, en route 1.08. A break in this area would suggest a strong signal towards the mark 1.10 along with the issuance of the Nonfarm Payroll. Hence, a cut through the 1.10 will push through 1.12.

Meanwhile, the market anticipates for a favorable result, however, the pair extended its uptrend because of the risk on type of announcement.

The most probable scenario is that the pair will pull back, considering the 1.0900 area since Asian traders stayed on the sidelines due to volatility.

If we surpassed below the range 1.0830 amid the session, the dive will enable to fill the gap towards 1.0750.

Moreover, the positive sentiment on the back of Wednesdays FOMC meeting aided the USD in recovering but the winning streak seems short-lived. A soft tone surrounded by the American dollar also helped the European currency to reacquire 1.0900 yesterday.

The EUR reversed its losses during the noon session highs of Europe found at 1.0940. The technical indicators appeared to be positive based on the 4-hour chart.

Resistance lies at 1.0950, support entered 1.0900.

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USD/CAD Fundamental Analysis: May 8, 2017

The USD/CAD pair had an ambiguous trading action during the previous week as the pair seemed to sway without outlining any specific direction for itself. The currency pair initially moved consistently upwards as it was able to break free from the chains of the 1.3500 trading range, where it was met with strong buying activity which just led to the currency pair making more progress than ever.

The USD/CAD pair was able to make significant headway last week as it was able to move within the 1.3800 range. All of the pairs recent corrections were not met with any significant follow throughs, and this further cemented the markets confidence in the pairs bullish undertone, and the signs last week just showed the justification of this particular market sentiment. The recent drop in oil prices contributed to a weakening in the value of the Canadian dollar and further incite the bullish trend of the currency pair. As the pair approached the end of last week, the currency pairs correction began as oil prices managed to recover its losses. In addition, the USD also bore the brunt of the negative effects of a disappointing wages report which was released last Friday. The pair has since then plummeted beyond its range lows and now sits at just under 1.3650 points.

For this week, the US will be releasing its CPI, PPI, and retail sales data, while there are no expected releases from the Canadian economy. Oil prices could possibly maintain its bearish attitude, which means that the USD/CAD pair will continue to be bullish. Now that the currency pairs resistance level has been broken through and with support levels drawing within 1.3550 points, the currency pair is expected to remain afloat and push through with its bullish attitude for the rest of this week.

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USD/CAD Technical Analysis: May 8, 2017

The greenbacks edged higher versus its Canadian counterpart amid the week, however, the result for job figures surprised the market on Friday, providing a greater result than expected. In light of this, the market seems to buy oil as the demand is anticipated to grow. But the oil is dealing with some issues causing the strength of the petroleum market to be short-term.

This further helped the loonie throughout Friday trades as they formed a shooting star in a little while as the session ended. Still, the region below 1.36 appeared to be supportive and certainly, the buyers will return. Since the employment status of Canada is in neutral stance because they have missed the released of job numbers.

It is recommended to buy dips in USDCAD as the market assumed to met buyers down from the level 1.360.

A turnaround in the oil rally will take place at the $47 range which could move the market in the upside. The mark 1.40 remains to be the target but might take a longer time to reach that point.

Selling is ruled out as the market seems impulsive and will be smooth again for the following sessions, nevertheless, it should be contemplated well to make the trade viable.

Contrarily, a break beyond the weekly top of the range provided a bullish signal and an advance to 1.40.

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EUR/USD Technical Analysis: May 8, 2017

The EURUSD softened this week but it performed well on Thursday. It is because of the projection about the employment figures released on Friday. The number have been strong and triggered a risk on trades. With this, we have touched above the 1.10 mark, which is regarded a significant psychological level that provided a resistance and support previously.

This weekend talks about the election in France and possibility of the status quo candidate to be elected. This favors the Euro due to the fact that it constrains the concerns about France leaving the Europe.

The technicals showed the 1.10 region will offer a significant number of resistance but during the closing week, the market proved that they are ready for any challenge.

An ability to cut through over the mark 1.10 any time will bounce back to 1.12 area. There is also possibility to talk regarding the 1.15 handle

The EUR/USD established an uneven position lately and the current gap has to resume in order to prompt a bullish tone.

It is projected that a break will offer some support after any reversal or surprise announcement which indicates lots of buying pressure is anticipated within the handle 1.0750.

With that said, the buyers appeared to be in the drivers seat, it further signaled for a move higher.

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EUR/USD Technical Analysis: May 19, 2017

The greenbacks were able stabilized during Thursday session followed by an earlier downfall due to a weaker U.S. data coupled with the political unrest under Trump presidency allowing the common European currency to break out. The pull back resumed its uptrend action on the back of decline in yields, however, the EMU spreads expanded.

Moreover, the employment rate in France came in better than expected while the officials of the European Central Bank were on the tape knocking around the timing of the potential removal of the bias on easing policy.

The pair obtained a higher high and higher low and continued an ascending trend on price action. The resistance highlighted its peaks on November 8 seen at 1.1299 mark while the support lies around the 10-day moving average.

The exchange rate had broken out amid the week and approached its April highs found at 1.0990 level that go along with the 10-day MA.

The momentum appeared to be positive since the moving average convergence divergence (MACD) histogram formed a crossover signal to buy. It occurred due to the crossover of the spread on top the 9-day EMA. The MACD stirred towards the negative territory and moves to the positive area in order to confirm a buying signal. The index printed in the black alongside the accelerating momentum which drove close to a higher exchange rate.

The relative strength index (RSI) ended over the 70-overbought trigger region, however, were pulled back yesterday and had its position at 60 readings. As the RSI breaks out, it reflected an uptrend positive trajectory.

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AUD/USD Technical Analysis: May 19, 2017

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

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

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

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

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

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

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

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GBP/USD Fundamental Analysis: May 19, 2017

The GBP/USD pair crashed in value during yesterdays trading session after it dropped by 100 pips in just a few seconds. This then put to waste the bulls efforts to maintain the sterling pounds momentum for it to be able to surpass the 1.3000 range and possibly even 1.3030 points. The cable pair is now located at 1.2950 points, and the market is now monitoring how the cable pair will end its performance for this week. If it ends up on a much lower note, then the pairs bulls might as well prepare themselves for a hard time next week.

The cable pair started out strong yesterday as the bulls did all their might to push the pair past 1.3000 points since they were basically running out of time and fuel. The UK retail sales data came out as highly positive, and this was enough for the currency pair to advance towards 1.3000 and was even able to reach 1.3030 points. The only thing left for the pairs bulls to do now was to maintain its position above 1.300 points, but as the NY session began , the GBP/USD pair plummeted through 1.3000 and towards 1.2930 points within a few seconds of the session. Although the reason behind this sudden crash has yet to be determined, some market players are assuming that this could be due to a dollar rally after the market reacted to James Comeys statement that Trump did not interfere with the ongoing Russian investigations. As of the moment, the cable pair is looking more vulnerable than ever and its bulls are having a hard time recovering its losses.

For todays trading session, there are no major news releases coming from both the UK and the US economy but the market will be closely monitoring how the GBP/USD pair will be ending todays session. If the cable pair closes down at under 1.2900 points, then the currency pair could be in for more selling pressure. On the other hand, if it will be able to go past 1.2900 points then the pair could possibly test 1.3000 points again in the short term.

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USD/CAD Fundamental Analysis: May 19, 2017

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

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

For todays session, the Canadian economy will be releasing its CPI data and retail sales data, both of which are expected to induce volatility in the pairs price action.

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NZD/USD Technical Analysis: May 22, 2017

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

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

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

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

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

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

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GBP/USD Technical Analysis: May 22, 2017

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

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

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

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

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

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

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

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EUR/USD Technical Analysis: May 22, 2017

The EURUSD ride out a strong Friday session as it broke on top of the mark 1.12. This signaled for a bullish indicator while U.S traders started to buy again the common currency. It further illustrate confidence for the euro, as the risk on trade is expected to extend along with the buying dips with a noise identified above it.

Based on the long-term, the market is projected to move forward the 1.15 region, however, we anticipate for some pullbacks. It shows that the market are apt to resumed pushing upwards.

The final session appeared to absolutely bullish for the EUR which probably be the overall trend and had to cool off this territory in the near-term.

The strategy of buying on the dips should be implored since the run-off seems pretty well and this sets the momentum on the buyers side, however, the impetus did not last long.

After the pullback, it would likely provide few area where buyer could make a return. The 1.11 and 1.1150 is considered an ideal levels. With this, the activity amid Asian trades has to be seen and we suppose each time a pull back is done, a significant amount of value will be collected within the market.

A break over the 1.15 range is hoped for considering it's the leading among the ree-year consolidation area that have been traded in.

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USD/JPY Technical Analysis: May 22, 2017

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

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

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AUD/USD Technical Analysis: May 22, 2017

The Australian dollar against the U.S. dollar started quite low on Monday sustained trading within the trading range on Friday reflecting uncertainty and approaching volatility. The price closed at .7454 and todays trading will depend on market activity reacting to 50% at the same price. There are no major reports from Australia and U.S. that caused less activity in the market hoping news that would elicit volatility.

The major trend is moving on the downside as shown in the charts. This would reverse once the market breaks over the .7556 level while a move towards .7329 level signals completion of the downtrend.

The AUD/USD pair is recovering coming from lows on May 9 at .7329 region but hampered by the major retracement area. It is too early to tell that is moving higher following a rally for nine consecutive days.

The main trading range is seen between .7558 to .7329 with a retracement zone from .7442 to .7469. The major 50% level is found at .7454 as it is purchased at a fixed price. The market reaction will determine who dominates the market, either the buyer or seller trying to reach a secondary support level.

If the price moves beyond the .7454 level implying the presence of buyers which could result in a surge for short-term with a Fibonacci level at .7469. Surpassing the said level would elicit further uptrend towards the down trending angle at .7468 that will probably position as a resistance level. It could move towards .7509 then .7521 level.

On the other hand, a sustained move below the .7454 regions implies the dominance of seller. The primary target in the lower channel is at .7442 50% level and a break into this angle would push the price towards .7419 level.

The .7419 level is the major level directing the pair to move higher comes. However, if the pair failed to maintain the level, it would fall towards the .7384 Fibonacci level. Traders should monitor the .7454 region to monitor the price action and determine who leads the market.

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EUR/USD Technical Analysis: May 23, 2017

The EURUSD resumed to drove upwards as the ECB members have different opinions which could change the tightening bias in contrast to the neutral bias.

Meanwhile, European yields surge rapidly relative to the United States, witnessed to struggle to move upwards after it resulted in a soft economic data, figures that are lower than the expected.

The 10-year yield of Germany has 37 basis points which seem difficult to draw near the U.S which is 2.25%.

The pair trailed higher, continued its uptrend and reached 1.1263 range, moving towards the resistance at 1.1299 near its November peaks. In case, this level was broken, it will test 1.1365 region close to its August highs in 2016. While the support is found at 1.1033 mark which is around the 10-day moving average

As reflected in the moving average convergence divergence (MACD), the momentum is positive. The histogram printed in the black, en route upwards which indicates that the pair has an accelerating positive trajectory.

The relative strength index or RSI is known to be a momentum oscillator that assesses the movement of the momentum together with oversold and overbought levels, is pushing higher and break out eventually. However, the elevated area of the RSI has an issue because it was positioned on top of the overbought trigger zone of 70. It also happened last year in the same month that causes the exchange rate to move ahead and plummeted 12 significant figures.

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GBP/USD Technical Analysis: May 23, 2017

The GBPUSD go through a very volatile session during Monday trades, seeing the market to rise and fall due to the large-scale headlines that continually have divergent opinions.

The issue regarding the withdrawal of Britain from the European Union persist and dominates throughout the market, so we should further expect some volatility.

The region 1.3050 above offers some resistance in the near-term, however, there is a possibility that the Cable will be pushed in the longer term. Pullbacks should still be expected but should provide some value. While the level 1.2975 is becoming the support as it keeps on grinding upwards. A cut through on top of the 1.3050 mark signals for the continuous uptrend in the market which also shows that the momentum is already starting. this could be a complicated action however the buyers are currently in the drivers seat. The choppiness will remain alongside with a bit of an upward bias which could offer an advantage.

Through employing the short-term pullbacks intended for buying opportunities is suitable to gain an edge over the bullish pressure and this could also be the way to reaching the top level of the consolidation area that lies at 1.3450.

Apparently, the market is too delicate to deal with as of the moment and yet, an ascending triangle shows up which mean that there a significant amount of bullish pressure starts to develop.

Recommendations say that the market should refer towards the area 1.32 or much more move near the longer-term charts. Additionally, selling is not a thought by this point in time.

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EUR/USD Fundamental Analysis: May 23, 2017

The EUR/USD pair has maintained its current price action during the previous trading session as the USD remained on the backfoot yesterday. The EUR/USD pair encountered some minor correction during the course of yesterdays session and this caused the pair to retreat  towards 1.1200 points for a couple of hours, although it eventually became clear that both the market traders and investors were preparing themselves instead for a bullish action in the pair instead of any major correction in the pair.

The pairs movement towards 1.1200 points remained for a few hours into the trading session yesterday, but then the pair eventually moved out of this particular range and had begun to surpass 1.1200 points in time with the opening of the European session. Germanys Merkel also made a speech during the session wherein she expressed her concern regarding the weakness of the euro, which has caused a drop in the value of Germany-based goods. However, this was not a surprising fact for investors as this has been the countrys stance for so long with regards to their monetary policy. But investor sentiment is not what the market is focusing on these days since the current market trend is now what the general market sentiment is. This was then seen as a trigger for a surge in the value of the euro, and such, this was followed by a euro buying which enabled the EUR/USD pair to advance towards 1.1250 and even managed to reach 1.1263 points, where it was met with a large-scale selloff. The currency pair remains trading within this particular range, with 1.1300 as the pairs next medium-term target.

 

For todays session, the market is expecting the release of the Flash PMI data as well as the German IFO Business Climate data from the German and French economy, while a couple of Fed officials will be involved in some speaking engagements, wherein they are expected to say that the rate hike schedule next month is off the charts for now. The EUR/USD pair is then expected to trade with a bullish undertone and could possibly test the 1.1300 trading range.



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GBP/USD Fundamental Analysis: May 23, 2017

The GBP/USD pair has still refused to join the tumult caused by other major currencies rallying against the greenback. In addition, the market was wrecked by news of a bombing at Manchester, which killed a total of 19 people and has injured over 50 people in its wake, in what has been confirmed as an all-out terrorist attack. Although the reaction of the sterling pound to this particular news has been somewhat muted, it has certainly caused the GBP/USD pair to drop in value, wherein it is not expected to become bullish since the Manchester bombings has made headlines today.

The GBP/USD pair started off yesterdays session a weak note following reports that the UK government might cancel the Brexit negotiations if the EU officials would implement a lot of harsh conditions. These developments are all expected to maintain the downward pressure on the cable pair as the UK economy enters a very critical period next month due to the oncoming snap elections and the Brexit talks immediately after the elections. However, the cable pair did manage to make a slight recovery during the European session, with the pair reverting to 1.3000 and even managed to test 1.3030 points before being met with a lot of selling and correcting towards 1.3000 points following the news of the bombings. The GBP/USD pair is then expected to remain under downward pressure for the duration of todays sessions.

For today, there are no major releases coming from the UK economy, while a couple of Fed officials will be making speaking engagements later in the day. Since the recent bombings at Manchester would most likely dominate the international headlines, the GBP/USD pair is expected to remain safely consolidating on both sides of 1.3000 points with bearish undertones.

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USD/CAD Fundamental Analysis: May 23, 2017

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

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

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

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AUD/USD Technical Analysis: May 23, 2017

The Australian dollar had a very active session on Monday and broke in the lower channel. It continued the downtrend and fill the gap and reversed after reaching the 0.7425 region and rallied uphill. As the sellers come back, there is a few pullback until enough volume and momentum are seen to break higher than the said level.

The currency is very sensitive to the gold market and it follows its movement over the long-term. However, pullbacks may offer some value as it reaches near the 0.7450 level which has been resistive for some time before. If the market breaks higher than the 0.75 handle, the trend would climb higher towards the 0.80 level although this may take some time.

On the other hand, if the gold market declines, then the next target region would be at 0.74 and below. Breaking this level could go even lower towards the 0.7350. As mentioned, the currency is highly sensitive to the market appetite for risks and traders should look out for it as other assets gains globally and Aussie is anticipated to follow.

There will be high volatility in the market while some traders avoid the U.S. dollar for short-term which would put bullish pressure in the market. Also, traders should anticipate choppiness in the market. A hammer pattern is seen in the weekly charts and is could position at the bottom in the charts.

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EUR/USD Technical Analysis: May 24, 2017

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

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

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

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

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GBP/USD Technical Analysis: May 24, 2017

The GBPUSD appeared to be weak amid Tuesdays session, however, met some buying pressure below the area 1.30 which helped for the pair to move ahead. The 1.3050 level have a significant amount of resistance and a break on top if it will continue the longer-term trend.

The British currency looks like having an attempt to develop a momentum in the upside but the risk appeared to remain above. Plenty of moving pieces exists around it which could probably allow the headlines to persist moving in the market. With this, it is best to pay no attention towards these headlines and just continue to trade in a market with a technical outlook because this could help you to remove few of the noise. While smaller positions appeared to be necessary unless a buy on the dips were offered under this kind of circumstances.

A break over the 1.3050 significant handle will enable the market to trail towards the 1.3450 region considered as a major resistance barrier which can be found in the longer-term chart.

The choppiness should remain as the market will behold the news to be released and it is important to employ stops most of the time, it is also vital to maintain your position size lower.

As of this writing, the sellers are starting to push back. The Cable have witnessed to be a highly volatile pair which might hurt the market.

It is recommended to maintain a small position size and be active since a tough situation may occur every now and then. Selling is ruled out.

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NZD/USD Technical Analysis: May 24, 2017

The national currency of New Zealand attempted to rally on Tuesday, however, it rolled over. As of this writing, it starts to move near the 0.70 region. In case that the area will be dropped, the market will tend to had a significant roll over while the shooting star begins to form on the daily chart. Having said that, the breakdown beneath the level 0.6980 would likely breakdown the mark 0.6980 below. The NZD will roll over and look for the 0.6925 eventually.

On the other hand, a break on top of the high during the session will indicate a bullish signal as expected, as the market tend to move near 0.7250 area. Alternatively, the market is having a volatile environment as it bears a shaky ride.

The New Zealand dollar is highly sensitive to the commodities and you should be cautious to the general market sentiment because it points further directions.

As the market prepares to conduct a determined plan and you should place a trade based on the breakout on top of the daily range or a breakdown underneath the 0.6980 mark.

Moreover, the Aussie were seen to move on the same path just like the other two pairs which favors the idea of trading with the breakout. And this suggests that it is much easier to drop lower because going up would mean dealing with lots of confusing underlying trends.

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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 wont 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.

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USD/JPY Technical Analysis: May 24, 2017

The U.S. dollar against the Japanese yen had a calm trading During the Tuesday session. The price rallied higher because massive support found at 111 level. The market tries to push it higher towards the 111.50 region and this could even go higher reaching towards the 112.50 level above which has been a significant psychological region previously.

With the fluctuation in the stock market, traders should monitor the indices especially the S&P 500 because of its high sensitivity to risk appetite. This would hint the next move in the trading market as there is a high correlation between the two. The Japanese yen being a safe haven asset would bring about greater risk appetite when it proceeded with a sell-off. This is a positive indication since a massive bullish candle was formed during the day.

If the price breaks higher than the 112.50 level, the current long-term uptrend will be sustained. This is a strong indicator but the market could attempt more than once to be successful as the market would most likely climb higher.

However, when the price breaks lower than the 112.50 level instead, the massive support will remain as of how it was in the past. The stock market is gaining momentum which could also push the price higher for long-term with a strong correlation with the stocks. Hence, traders should monitor changes not only in forex market but also in the stock market.

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EUR/USD Technical Analysis: May 25, 2017

The EURUSD bounced off from its sessions lows after the release of a weaker than expected data in U.S housing last Wednesday.

The confidence index for Germany continued to increase while the European Central Bank was on the tape, expressing diverging statements. This confuses many traders thinking about how will the ECB cope with their remarks on the back of the monetary policy meeting scheduled on June.

The pair starts to form a bull flag pattern that served as a pause to stimulate. While price creates a Doji day that came up during opening and closing of the same level, as it reflects a market indecision.

The support came in at 1.1094 region close to the 10-day moving average. Resistance is found in the area 1.1299 around the highs of U.S. election day on November 8.

A break within this region will test the 1.1365 mark near the highs in August 2016. The momentum became neutral because the moving average convergence divergence (MACD) printed in the black, however, the histogram declined which slowed down the positive impetus and further indicates a consolidation

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GBP/USD Technical Analysis: May 25, 2017

The sterling pound had an initial attempt to conduct a rally amid Wednesday trades, as it tests the level above 1.30 region. This is an important area and a break on top of it would indicate a bullish signal.

As of this writing, the ascending line was maintained and buyers would likely enter the market as soon as possible. A breakdown underneath the uptrend line will trigger the market to test 1.29 handle, which appeared to be supportive. Further breakdown around the handle, will indicate a negative sign in the near-term, but it looks like that more support can be found below.

An attempt for a reversal is deliberated, however, the Cable was highly volatile as expected, considering the headlines issued from Brussels and London that could move the market unexpectedly.

Having said that, the conditions are going to demonstrate choppiness and a smaller position size should be mainly considered. Nevertheless, a rally within this direction will suggest a long-term trend towards the upside, requiring the position size to be not so big. Otherwise, an investment that could reach the 1.3450 range above.

Furthermore, a gap through 1.2750 below will cause the market to slide and return to a bearish long-term move. In case this happens, the fall is assumed to be in an abrupt manner.

The bullish bias will remain along with the noise currently in the market.

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USD/CAD Technical Analysis: May 25, 2017

The greenbacks rebounded around amid Wednesdays trades, staying on top of the 1.35 region very often. However, the Bank of Canada, later on, stated that the recent plight in the inflation was merely an anomaly by which people should not be privy to. With this, the favor of the market is leaned towards the Canadian dollar as the oil industry had received a fair support.

A break under the level 1.36 will extend the strength of the selling pressure because of the oil prices. The oil market appeared to be volatile on the back of the OPEC announcement expected to be released later. When the announcement regarding the production cuts appeared to be longer and deeper than of the anticipated result, it will surge the oil price up resulting the pair to move lower.

Selling rallies will continue considering that the market formed renewed lows in the day, however, the oil sector presumably will ascend. When the organization did not meet the expectations of bullish oil traders, the market will reverse suddenly. This will further make the USDCAD an interesting pair for the next sessions while high volume will be seen jumping in and out from the oil pits.

Trading recommendations say that the 1.33 handle and 1.30 level below is supportive. In the longer-term, the oil will be facing major issues and will run to the upside of the market in the short-term. This will cause for the North American shale producers to came in.

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USD/CAD Fundamental Analysis: May 25, 2017

The USD/CAD pair crashed past 1.3500 points during yesterdays session, signalling a complete turnaround of the pairs price action. The loonie has also somewhat managed to test the 1.3500 range, although its progress was remarkably slow and has cast doubt on the pairs ability to reach its medium-term target of 1.4000 points.

The pairs targets were mostly based on the recent drop in oil prices, as well as the current problems and uncertainties surrounding the Canadian economy, and a possible rate cut in Canada anytime soon. But the Canadian government seems to have already reined in its economic concerns, and this can be seen in the sound improvement of Canadian economic data during the past weeks. The USD/CAD pair has also moved down from 1.3800 points to 1.3500 points as the Canadian dollar received significant support from a surge in oil prices during the previous weeks. The Bank of Canada has decided yesterday to maintain its current rates which painted a rosy picture of the Canadian economy and enabled the USD/CAD pair to correct towards 1.3500 points before finally deciding to settle at 1.3400 points.

For todays trading session, the market will be monitoring the OPEC meetings scheduled within the day which is expected to affect the course of action of the USD/CAD pair. However, since the pair has now surpassed 1.3500 points, this particular range could possibly serve as the pairs resistance level against any other attempts to reach its range highs.

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USD/JPY Technical Analysis: May 25, 2017

The U.S. dollar against the Japanese yen had a calm trading session on Wednesday. The 112 level is being resistive up to 112.50 above. It may be best to wait until the price breaks in the upper region but most likely it will decline in the short-term. There is a support close to the 111.50 level and anticipate volatility in the market. There is a lot of buyers down below but with chances to break out. It will be more advantageous to trade this pair in short-term as it open more opportunities in either direction.

Short-term trades may drop from the current psychological level but there is a massive support down below that makes it appealing for long-term traders. The market will be observant with the reports coming out with all the political problems globally.

Since the stock market is moving upwards, the pair could go higher with the risk on sentiment in the market and the Japanese yen sell-off is a positive indicator,

Look for smaller trade positions as these open opportunities but will have chances to lose some money. In the long-term, the pair will continue to move upward but be ready for volatility. Also, it is important to consider the time frame in positioning orders.


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NZD/USD Technical Analysis: May 25, 2017

The New Zealand dollar had a rough session on Wednesday. It dropped in the beginning to 0.6990 level but recovered as it bounced back to 0.7040 region before falling again. The volatility will most likely continue since there are a lot of happenings in the commodity market since the kiwi is relative to the commodities. Hence, is the commodity prices roll over, expectedly, the New Zealand will also be sold and bought one after the other.

It is best to wait until the price breaks in the lower channel, as shown in the 72-hour Exponential Average, before selling this pair. The market is anticipated to fluctuate with many issues side-by-side concerning geopolitical problems fueled by global demand.

Traders would have a difficult time in trading this pair for long-term. If the price breaks lower than the 72-hour Moving Average, it could further go down towards the 0.69 handle. The latest peak was lower than the previous one which would bring a lot of noise in the market.

Overall, if the price breaks higher than the fresh new high, buyers could proceed with this pair although there will bounce from time to time. There is a downtrend bias in the market especially when the 72-hour Moving Average becomes the basis to participate in this market on the low side. Yet, it would still be wiser to wait on the sidelines.

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EUR/USD Technical Analysis: May 26, 2017

The EURUSD trade in the sideways trying to proceed near the resistance region at 1.1265 mark, however, failed to take its position and plunged amid North American trading hours.

The jobless claims showed tight data during its Thursdays release and were offset through a dovish tone indicated from the minutes of FOMC meeting issued on Wednesday by the Fed.

The predictions failed to some extent which triggered the Fed to make its final decision on Friday while Fed funds continued to have a strong expectation that the bank will take action.

The pair keeps forming a bull flag pattern which acts a pause to refresh. The price consolidated under the resistance level at 1.1299 near its November 8 highs.

The support approached 1.1132 area close to the 10-day moving average. The momentum appeared to be neutral while the MACD histogram moved downwards indicating a down sloping positive momentum. The RSI further trailed lower from the overbought territory as it prints 67 reading. This is the upper end of the neutral range which suggests for a consolidation.

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GBP/USD Technical Analysis: May 26, 2017

The British currency ride out a volatile session amid Thursday trades, reaching the top of the 1.30 region in the day and rolled downwards substantially. Further support can be found in the uptrend line which reflects for another round of rally.

The market could likely offer buying opportunities for the GBP/USD, however, the actual signal intended for the long-term trading suggests a move over the mark 1.3050. This implies that the trend will continue until the 1.3450 area that would be the top of the former consolidation region towards the weekly charts in the long-term.

Buying the dips could possibly remain to exist along the way while the trading position shall maintain as small as possible. Since the market will continue to be highly volatile due to remarks from the UK and EU people privy to the British exit.

As things go because of volatility, dealing with the market will going to be delicate and it is important to sustain a small position. This way could be the best idea to go up against any types of risks we may face.

It is recommended to cut in half anything you feel you are comfortable with, so you can employ twice the stop loss. This could help you to stay in a market where uncertainties are extraordinary, however, it appears that buyers in the longer-term will extend its involvement with the Cable as the sterling became oversold at some point.

As the volatility continues, we should initiate to build up higher highs once more including a long position as well. Selling still not an option as we deemed that the absolute floor can be found at 1.2750.

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AUD/USD Technical Analysis: May 26, 2017

The Australian currency endured an extreme volatility amid session on Thursdays, making a gapped through the top of 0.75 handle and fell lower. In the past few days appeared to interesting due to the weakening of the ascending momentum. With this, the risk of the decline is within reach and in case that the gold markets are able to keep the support around $1250 level will accelerate the downtrend.

The market currently following an uptrend line which positioned under the actual pricing. The market broke underneath the ascending line which could be one of the reasons to extend the decline. When this happens, the level below 0.74 is expected to set off a positive target for many traders.

Moreover, the commodity market should be taken into consideration when it comes to Aussie, this includes the copper and gold. The previous volatility of the AUD makes it difficult to hover within this position, it requires a break on top of the current highs or a significant breakdown in order to set actual money to work.

The choppiness is also extended since traders dominate the overall place with regards to the projections on the interest rate in the United States while Asian appeal for base metals from Australia.

A breakdown underneath the 0.7440 range will confirm for a roll over which signaled for a lower pricing, nevertheless, the noise remains that causes the market to be a tough one to engage with.

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USD/CAD Technical Analysis: May 26, 2017

The U.S. dollar against the Canadian dollar declined in the beginning of Thursday trading session. The OPEC announcement has been released saying the production cute has been extended for another nine months. Although this is already expected, the downtrend occurs because of the possibility for a sell-off in the oil market as reflected in the hourly chart.

A break higher than the 1.35 region would induce this pair to move higher reaching up to 1.36 handle. Yet, if an exhaustive candle is formed, the market would proceed to a sell-off. The next few sessions are relevant to determine what happens in the future o f this pair.

The OPEC was not as aggressive as expected but the production cut decision is in line with the markets expectation. Long-term traders would see a buying opportunity to the current condition of the oil market. However, it is safer to wait for a longer rally for the day before doing so, Overall, the market is moving uptrend for long-term which has had a rough trading last week.

It may be best to wait on the sidelines for the next 1 to days before trading this pair. The Moving Averages were not doing well but there is a chance for loonies to soften in the long-term. The 1.36 level is a significant psychological level for long-term to put on hold long-term orders and traders should wait until the current trend has been settled before placing orders.

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GBP/JPY Technical Analysis: May 26, 2017

The British pound and Japanese yen pair had a volatile trading during the Tuesday session. It broke higher in the beginning but stopped at 145.50 resistance level followed by a decline as it reached the lowest level for the day before stopping by another level.

The market is having a difficult time trading even scalping for 2 pips and its nearly impossible to hold onto trade for an indefinite period of time until a new psychological level has been reached. There is a significant barrier seen at 145.50 region so a break higher than the said level would bring optimism for the pair.

In the past few week, the market is trying to reach new highs. A new breakout is needed to lay off the bullish pressure but for now, it is uncertain on what this pair would bring to the table. Hence, traders should be cautious with their next move.

For the long term, there is a bearish pressure, especially for weekly and monthly traders. Recently, the yen related pairs rallies which could affect the overall trend but it is really poor at the beginning as usual but this would switch later on to the upside when traders gain enough momentum.

This pair is anticipated to be choppy and lingers in consolidation between the 144.50 and 145.50 region in the upper side. Short-term trades will be preferred and drive the whole trend. Hence, it is advisable to place orders in smaller positions until a significant break has been achieved when the market activity becomes volatile because of several factors, mainly for geopolitical reasons.

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EUR/USD Fundamental Analysis: May 29, 2017

The EUR/USD pair closed down last weeks trading session within its range lows as the USD was able to regain its strength after dropping in value during the previous week. The greenback had previously lost its strength after Trump-related political woes bogged down the value of the currency, in addition to speculations that Trumps various misdemeanors could possibly affect the expected rate hike next month. Luckily, the dollar was able to gain some momentum after the market sentiment regarding a June rate hike went from negative to positive.

The dollar was further propped up by the results of the FOMC minutes, although the minutes lacked enough hawkishness to satisfy the markets. However this was enough for the market to price in a rate hike next month, in addition to some Fed officials stating that they would like to see a June rate hike. This was enough for the dollar to increase in value against the euro, although the EUR/USD pairs current range is currently the pairs lowest range within the year. But the currency pair remains trading within a very strong and steady range, which is probably one of the reasons why the USD has not progressed that much against the euro. Merkel also remarked last week that she is currently worried about the euros marked weakness, and as such, this has helped to prop up the euro further in addition to a steady stream of positive economic data from the EU economy during the previous week. So although the currency pair closed down on a much lower note, the pair remains in a very limited range and this is why the euro could still possibly be able to withstand USD pressure within the near future.

For this week, the market will be bracing itself for the release of the first half of month-end flows as this week will start the beginning of a new month. The second half of the week will be packed with economic releases such as the NFP reports on Friday. The market will be in for some additional volatility, and traders are advised to remain within significant buying areas should they wish to trade EUR/USD longs.

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GBP/USD Fundamental Analysis: May 29, 2017

The sterling pound remains to be the weakest in a sea of major currency pairs during the past week after the GBP/USD pair failed yet again to break through the very crucial region of 1.3030 in spite of several attempts to do so. The currency pair remains on the backfoot and has been unable to make any significant progress in spite of a string of very positive economic data from the UK economy during these past few months.

There were no significant economic readings from the UK economy last week and this helped in steadying the value of the sterling pound, although the GBP/USD pair remained under pressure due to the strength of the greenback, which only accelerated throughout the course of last week as the market attempted to re-price the June rate hike from the Fed. The FOMC then tried to augment this positivity by stating that the rate hike was still in the table as far as the Fed is concerned, provided that the US economy continues to throw up some good readings for the market. This was more than enough for market traders, who immediately delved into dollar longs as preparation for a possible interest rate hike in spite of the fact that this will be dependent on the results of the month-end flows for the US economy. The GBP/USD pair remained under constant pressure last week, and its attempts to go past 1.3030 were all immediately met by large-scale selloffs. The currency pair eventually dropped down to 1.2900 and even 1.2800 points before finally settling at just over 1.2800 points.

For this week, the market will be bracing itself for the month-end flows as we enter a new month. This could potentially affect the value of the GBP/USD pair and could even be subject to additional pressure once the UK and the US economy releases a series of essential economic data such as the NFP report and the PMI data. The pair is expected to continue to be under pressure during the first half, while the pairs value on the second half would most likely depend on the value of the US dollar.

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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.

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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 yesterdays session, which is Draghis 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 pairs 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 yesterdays 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 Feds 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 todays session, the market is expecting the release of Germanys 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.

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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 yesterdays 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 pairs 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 todays 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.

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