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Post Info TOPIC: Daily Market Analysis by ForexMart


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RE: Daily Market Analysis by ForexMart


EUR/USD Technical Analysis: February 22, 2017 The U.S dollar gained strength versus its major rivals on Tuesday. Meanwhile, the German Manufacturing PMI showed positive figures but the euro pay no attention regarding this report. The single European currency is kept below the pressured area despite the rising concerns about Marine Le Pens possible victory in the elections that could threaten the integrity of euro area. The EURUSD move downwards as it pushed by the bid tone around the greenbacks yesterday. The EUR found a downside pressure and resumed its Monday losses amid Asian trades. The major extended its slide in the EU session. Moreover, the pair tested the level 1.0550 in the middle of European hours. The mentioned level stalled the development of the sellers tightening its grip to the price within the region. The price bounced off the 100 and 50-EMAs lower while 200-EMA preserved a bullish pattern based on the plot of 4-hour chart. The price further develops under the moving averages. Resistance is found 1.0600, support sits in at 1.0500. The MACD indicator settled the negative territory, upon maintaining a position in the negative zone, the sellers stance will bolster. RSI entered the oversold zone, favoring a fresh downtrend. A clear break under the mark 1.0500 would signal about the onset of a move through 1.0400 or else the price would rebound towards 1.0550, en route 1.0600.



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GBP/USD Fundamental Analysis: February 22, 2017

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

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

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

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USD/CAD Fundamental Analysis: February 22, 2017

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

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

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

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USD/CAD Technical Analysis: February 22, 2017

The U.S. dollars paired against the Canadian dollar surged on Tuesdays trading. It moved passed the 1.31 handle, breaking the psychological levels. It seems that the this breakout will be followed by a reversal higher than the 1.32 level. This signals a bullish tone but traders should expect the trend to be choppy and harder to manage.

Looking below the chart, the price failed to break lower than the 1.2968 support level. Instead, it maintained its price within the trading range from 1.2968 to 1.3211 area. It is expected for the pair to continue to move back and forth within the said range in the next trading sessions.

The greenback rallied that aligned with the rise in oil market which is not common to occur. If the market is able to break higher than the 1.32 level, then the buying of the pair will continue.

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NZD/USD Technical Analysis: February 22, 2017

The New Zealand dollar against the U.S. dollar dropped on Tuesdays session. Later on, a strong support was found close to the 50% Fibonacci retracement level to reverse the trend and form a hammer pattern. This signals a bullish tone with chances to break higher than the peak of the candle pattern formed towards the next target at 0.7250 level. This could further go up towards the 0.7350 level. Traders should also look out for the commodity markets which would influence the new Zealand dollar. The currency prices is relative to the commodity prices, as it goes up, the currency also moves higher.

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EUR/GBP Technical Analysis: February 22, 2017

The Euro against the British pound dropped on Tuesdays trading. It moved lower than the 0.85 handle after testing the 0.8450 level which has been a strong support in the past. If the price further declined lower than the base of the current trading range, it could reach the 0.83 level. The pair seems to proceed with sell off when it surges but this could still turn around, which the market should be cautious for.

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USD/JPY Fundamental Analysis: February 22, 2017

There is a high demand for riskier assets that pushed the USD/JPY pair to climb on Tuesday session. Also, the appreciation of dollar was influenced by a stiff sell-off in Euro because of increase in political worries.

Moreover, the stock market surged that influenced the Japanese yen higher because of the carry trade while the recent remarks of Fed officials drove the appreciation of the U.S. dollar. The pair closed at 113.673, increased by 0.582 or +0.51%.

Cleveland Fed President Loretta Mester remarks on Monday also significantly affected the next day trading. This was pushed further by the announcement of Philadelphia Fed President Patrick Harker saying the pending next rate hike on March.

U.S. economic data results for the U.S. Purchasing Managers Index (PMI) was at 53.9 in February, lower from the reported 55.6 in January and the expected result to be at 55.8.

The continued low borrowing rates made the San Francisco Fed President John Williams to have a dovish sentiment. Similar with Minneapolis Fed President Neel Kashkari comments saying the there is no need to rush and go for inflation right away.

The Japanese yen was also influenced by rise in political risk in Europe and excessive sell-off by Euro. The rhetorics of French candidates Marine Le Pen and Dutch candidate Geert Wilders prior to elections has influenced the market sentiment.

Gold investors also reacted to the latest Existing Home Sales data in U.S. trading. The data is predicted to give e a 5.55 million unit gain. On the other hand, the FOMC Member Powell is scheduled to give a speech today. The Fed minutes for February Monetary Policy meeting will also be released which is highly anticipated.

It is anticipated for the market to have high volatility with the release of major economic data and the decision from the monetary policy meeting and connect it with the remarks before the Congress of Fed Chair Janet Yellen last week. Investors will try to get hints on chances for the Fed rate hike on March. As of now, there is 17% chances for a rate hike in March while 47% in June regarding the Fed fund futures.

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EUR/USD Fundamental Analysis: February 23, 2017

The EUR/USD pair was somewhat tame during the first part of the trading session as the market awaited the release of the FOMC meeting minutes, which contained information on the sentiment of Fed officials with regards to the international economy as well as their insights regarding the interest rate hike. The pairs bias was obviously on the downside as the pairs value briefly dropped below 1.0500 after consolidating but was able to recover its losses during the latter part of the trading session.

However, the FOMC meeting minutes turned out to be a huge disappointment for the majority of market players as the minutes did not contain the expected intensity of hawkishness after the Feds officials reiterated that although the central bank is keen on implementing a total of three rate hikes year, they still think that a March rate hike might not be feasible for the market just yet. As a result, the currency pair plummeted through 1.0550 points before settling to trade at just above this particular level.

Now that Fed officials have made it clear that a rate hike is not to be expected this coming March, the market is hopelessly clueless with regards to the actual timing of this particular interest rate hike, especially since some officials are saying that they are not completely ruling out the possibility of a March rate hike. But since the market is very averse to uncertainties such as this, the dollar is expected to continue weakening for the rest of the trading day. The US will be releasing its unemployment claims data today but is not expected to make a significant dent in the markets lack of volatility.


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EUR/USD Technical Analysis: March 1, 2017

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

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

The EURUSD attempted to break the barrier in the European hours. The EUR made a slight recovery few of its losses during the night upon approaching 1.0600 in the mid-EU trades.

The price is close to the 50-EMA as it positioned in the neutral zone during the earlier trading while the 100-EMA preserved a bearish pattern and the 200-EMA drove downwards.

Resistance settled at 1.0600, support plunge towards 1.0550.

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

Furthermore, bullish momentum is possible to reclaim. The next target of the pair is 1.0630. The EUR/USD may resume its ascending movement to 1.0650.

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GBP/USD Technical Analysis: March 1, 2017

The absence of news from the UK region was unable to provide support the British currency. Investors were bothered regarding the recent Scottish referendum. Traders on the other hand awaits for the remarks that Donald Trump will spoke in the Congress. The focus now is turned to the U.K Manufacturing PMI which is anticipated to be relatively lower compared with previous results.

The sterling nearly touched 1.2500 level last Monday but buyers were unable to surpass the 1.2475 region where they found resistance of the sellers. Sellers turned the price back towards 1.2400 and hold the spot below the pressured area throughout the European trades.

The GBP rebounded from the 200-EMA downwards and resumed its ascending trajectory, while the 100 and 50-EMAs took the descending pattern. Resistance hit 1.2500, support is at 1.2400.

MACD softened favoring added strength for the sellers. RSI is confined in the neutral zone.

The Cable could recover its strength by holding beyond the 1.2500 range.The next target of the bulls is 1.2567.

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USD/CAD Technical Analysis: March 1, 2017

The greenbacks were able to gain strength versus other commodity currencies. The growth occurred due to the decline in oil prices and the investors interest regarding the US President policy. The announcement of the Central Bank of Canada about the interest rate decision is much awaited. It is expected that the rate will continue to be at 0.50%.

The price has spiked near 1.3190 on Monday but the level seems difficult to deal with. After the USD reached the region, the upward impetus lost its momentum. The USDCAD is in a tight range close to the barrier amid European hours.

The price takes up the 50-EMA and lead the 200-EMA higher and the entire moving averages ascended as indicated in the 4-hour chart. The major resumed its advancement on top of the MAs eventually. Resistance touched 1.3190, support hit 1.3120.

The MACD strengthened which imposed a buy signal. The RSI is positioned in the overvalued zone which favors a downtrend.

The immediate focus is at 1.3120 support region. A gap within this mark will shift the attention towards 1.3050.

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EUR/USD Fundamental Analysis: March 1, 2017

The USD kicked off March on a very positive note after the US dollar was given a boost by some of the most unlikely sections, the source from which the USD gained its weakness. The market has been constantly skeptical with Trumps policies ever since his inauguration, and this has put immense downward pressure on the value of the USD and has helped to keep the EUR/USD pair buoyant. The dollar was also unable to take hold of its own value since the majority of investors are not convinced with the overall viability of the US dollar.

However, the market eventually became used to Trumps way of implementation and his policies as the year progresses and the stock market has also responded well to Trumps latest implementations. Trump has recently announced yesterday that his administration will be executing large-scale tax cuts for corporations which will increase the competitiveness of US-based corporations in the international arena. In addition, the EUR/USD pair also decreased further after Trump announced his proposed guidelines for adding up the countrys infrastructure spending.

This, in addition to the market probability of a Fed rate hike this March increasing, has caused the US dollar to soar significantly across the board and has affected all major currencies in one way or another. For the EUR/USD, the pairs value plummeted past 1.0600 points and is currently trading at 1.0550, with the outlook for currency pair looking very weak. If the USD continues brandishing its strength, then the currency pair might soon hit 1.0500 points. The US will be releasing its Manufacturing PMI data today, and the current trend for market is expected to be the recent strength of the US dollar.


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AUD/USD Technical Analysis: March 2, 2017

The positive GDP of Australia and strong data of China PMI provided support to Aussie which further prevents it from acquiring losses. The period of bullishness ended on Wednesday while the bullish spike wane having touched the 0.770 level. The AUD loosened its grip upon its gains as the Asian session closes.

Sellers failed to regain 0.7650 despite series of attempts. Upon reaching the region, the spot turned back on top of 0.7650 during the morning trades of Europe.

As presented in the 4-hour chart, the price tested the 100 and 50-EMAs, seeing the 50-EMA en route downwards, 100-EMA is in the neutral ground and the 200-EMA preserved a bullish bias.

Resistance is found at 0.7700, support is at 0.7650.

The MACD declined which favored strength for the sellers. RSI stayed in the neutral area.

The commodity-linked pair will resume its bearishness when the US dollar sustained its current flow. A close down under from the 0.7650 would likely risk the 0.7600 mark.

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GBP/USD Technical Analysis: March 2, 2017

The sterling softened following the bearish Manufacturing PMI of February while the market preferred wait-and-see mode for Construction PMI projected to keep steady rate.

The British currency moved near down the range on the back of fluctuations within the level 1.2500 - 1.2400 several weeks after. The sellers were able to gap the handle 1.2400 during the late trades in Tuesday, it further push the GBP downwards throughout the night. Nevertheless, the downward impetus faded in the earlier trading. Sellers successfully touched the 1.2344 by which the cable met some of its renewed bids that might save the buyers temporarily from possible losses.

Sellers resumed its gains during the latter part of the trading day. The spot remained to trade in the negative zone and highlighted 1.2300 region prior to the North American hours.

The major rebounded the 200-EMA lower and develop beyond the moving averages while the 100 and 50-EMAs descended as exhibited in the 4-hour chart. Moreover, the 50-EMAs made a downward crossover in the 200-EMA keeping its mild bullish tone. Resistance is at 1.2400, support holds 1.2300.

The MACD lost its steam which triggered strength for the sellers in return. The RSI stay around the oversold territory.

If the GBP/USD declined below the 1.2300 mark, it will prompt a downtrend shortly after.

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EUR/USD Technical Analysis: March 2, 2017

The investors were disappointed to the speech made by Trump in the Congress, as the US President did not mention further details regarding his infrastructure and tax reform plans. The Fed helped the greenbacks to recover from the sell-off which renewed hopes for the possible rate hike in March.

The recovery slowed down at 1.0627 level on Tuesday. The price took another direction and continued to plunge lower. Traders made a cut within 1.0600 during the Asian trades pushing the European currency downwards. The dollars bull take control of the opening of the EUR stocks and gapped the 1.0550 mark then drove the pair lower. Having reached 1.0536, the descending trajectory seems short-lived.

A renewed selling interest appeared prior to the opening of the New York session which pushed the price further down

The EURUSD lead the 50-EMA downwards and the price is placed under the moving averages as set out in the 4-hour chart. The 50 and 100-EMA headed by while 200-EMA appeared in the neutral zone. Resistance touched 1.0550, support sits in the 1.0500 mark.

The MACD is seen at the centerline. When the indicator approached the negative region, the strength of the sellers will increase. An entry through the positive territory will manage the overall market. RSI is close to the undervalued territory which confirms a renewed downtrend.

In case the price hovered down from 1.0550, the major could possibly extend towards 1.0500. A break under 1.0500 could revive support at 1.0450.

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USD/CAD Fundamental Analysis: March 2, 2017

The USD/CAD pair continues to be controlled by the pairs bulls after the bulls managed to wrest control from the bears following several weeks worth of struggle. The bulls have now take complete control of the currency pair and its bears have become adversely affected by this move, something that has been predicted by analysts during the past few weeks.

The USD/CADs long streak of ranging and consolidation has initially kept prospective buyers at bay but now that the currency pair seems to have finally obtained some sense of direction after getting dominated by the bulls, buyers can now rest easy with regards to the movement of the USD/CAD. In addition, the US dollar has also exhibited a recent rally due to statements from the Fed that a March rate hike is highly possible, as well as Trumps announcement that he will soon be implementing tax cuts and adding up the countrys spending on infrastructure.

The Bank of Canada released its rate statement yesterday and met market expectations of maintaining the current rate at 0.5%. Canada has recently been releasing a strong string of economic data, which is relatively good news for everyone except for those who expected the BoCs statement to be more hawkish than present. The central bank reiterated that there are no expected rate hikes in the near future and focused on low working hours and wages. This has compelled the USD/CAD to drop down to 1.3300 points before settling at just under 1.3350 points. The Canadian GDP data will be released today as well as the US unemployment claims data, which are both expected to increase the pairs volatility. But the USD/CAD is expected to remain afloat as the current trend would most likely be the USD rally.

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GBP/USD Fundamental Analysis: March 2, 2017

The GBP/USD pair has recently been under severe pressure as a result of the real state of each currency starting to show through just like every start of a new month. A lot of analysts have been saying that the sterling pound might become the most adversely affected once the dollar rally sets in, but last week the GBP has still managed to save itself somewhat even though both the US and UK economy were faced with various economic and political uncertainties.

However, since the uncertainties surrounding the UK economy are expected to be more on the long-term side as compared with that of the US economy, the dollars rally would soon gain momentum long after the issues surrounding the US have vanished, and this is expected to have a significant effect on the stance of the GBP/USD pair. The market is now witnessing this phenomenon during the past days as the USD exhibited its newfound strength as an effect of Trumps statements regarding tax cuts and the Federal Reserves announcement that a March rate hike is still being highly considered by the majority of Fed officials. This has caused the GBP/USD pair to shot down from 1.2400 down to 1.2300 and is now currently situated within the 1.2250-1.2300 barrier and would likely drop further in value, this, along with Scotlands possible move of leaving the UK is bound to spell disaster for the state of the sterling pound.

The UK will be releasing its Manufacturing PMI data and the US will be releasing its unemployment claims data during todays session, but the dollar rally is expected to be reverberating theme in the market, which means that the GBP/USD pair would most likely remain under pressure for the rest of todays session.

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EUR/USD Fundamental Analysis: March 2, 2017

The USD continued its rallying streak during the previous trading session and this has created a highly adverse effect on the EUR/USD pair. The currency pair has decreased by over 100 pips and is now trading within the 1.0530 points and looks poised for a further drop in value. The EUR/USD pair is expected to continue its weak trading stance for as long as the US dollar continues its rally.

The dollar strength has been initially triggered by Trumps statement that his administration will soon be implementing tax cuts for corporations, but the Feds statement that an interest rate hike would most likely happen in March served as a catalysts for the dollars recent rally. If this comes into fruition, then the market expects the USD to expand its rallying streak and push down the value of the EUR/USD further.

This is why the market is now mainly focused on the Federal Reserves rate announcement as well as its accompanying statements. This is good news especially for the dollar bulls, since they will be benefitting from this focus shift in the US economy. For todays session, the US will be releasing its unemployment claims data but regardless of how this particular data comes out, the EUR/USD pair would still remain under pressure for the rest of the trading session. The EUR/USD currently has a very solid support barrier, but once the pair pushes way past this level then the EUR/USD

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GBP/USD Fundamental Analysis: March 6, 2017

The GBP/USD pair went through its worst week since the beginning of the year as the pair suffered greatly from the dominance of the dollar strength over the market last week. Unlike the euro, which has somewhat managed to recover as last week came to a close, the British pound continues to remain under pressure and could possibly retreat further in the coming weeks as the USD consistently regains its momentum.

The GBP/USD suffered last week primarily due to month end currency flows and this has caused the currency pair to revert back to 1.2300, with the pair continuing to trade just under that barrier for the rest of last week. The USD retreated slightly after Yellens statement which further stoked the fires for a possible interest rate hike this month, but this brief weakness in the USDs value was still not enough for the GBP/USD to increase in value. This is because the sterling pound has its own set of issues that it needs to fix and the currency is not hugely dependent on the value of the US dollar unlike other major currencies. From the Brexit process to a possible Scotland referendum, the GBP/USD pair might take a while before it can finally get back on its feet, and as such all moves pointing to the upper part of the chart should be seen as a sell opportunity.

For this week, the UK will be releasing its annual budget data while the US will be releasing its NFP data, both of which are expected to dominate the movement of the currency pair. The NFP report is expected to come in as highly positive which could put the GBP/USD pair under more pressure, thereby endangering the support region of 1.2200 points.

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USD/JPY Fundamental Analysis: March 6, 2017

The USD/JPY posted significant rallies last week following increased market expectations of a March interest rate hike from the Fed during the next scheduled FOMC meeting this coming March 15. US Treasury yields also rose while the market demand for the USD soared to new heights as various Fed officials gave out increasingly hawkish remarks. The USD/JPY closed down last weeks session at 113.994 points after increasing by +1.69% or 1.896 points.

Fed Chair Yellen added fuel to the fire of a possible rate hike by commenting last week that the central bank might deem it necessary to slowly increase the federal funds rate if the economic data coming from the US continues to be consistently good, with the Fed funds futures clocking in a 90% probability of the central bank increasing interest rates during its next scheduled meeting this month from an initial probability rate of 30% at the start of the week.

The direction of the USD/JPY this week would most likely be dictated by subsequent economic data which will be released since Fed officials are now in a blackout period. The market will be closely watching the release of the US Non-Farm Payrolls report as this will be a clincher on whether the Federal Reserve will indeed implement an interest rate hike or otherwise. The current market expectation for the data is an addition of 185,000 jobs for the month of February. Meanwhile, Average Hourly Earnings data are expected to rise by 0.3%, and Unemployment rates are expected to drop to 4.7% from its previous reading of 4.8%.

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USD/CAD Fundamental Analysis: March 6, 2017

The USD/CAD bulls were finally able to take control of the said currency pair, with the effect of this particular move becoming evident in the market. The pairs bulls and bears were both locked in a struggle during the past few weeks, with the major support barrier of 1.3060 the disputed region within the currency pair. The Canadian dollar momentarily strengthened as a reaction to a jump in oil prices and a consistently strong economic data and the USD also experienced a significant weakness on the board.

However, since last week, the USD/CAD began experiencing major changes in its stance. The former part of last week was dominated by month-end currency flows, which caused the CAD to be subject to tremendous downward pressure. The Bank of Canada also released its rate statement as well as the CAD rate, with the BoC meeting market expectations by maintaining its current interest rates. However, the central bank also reiterated that they were highly concerned with average wages data and the number of working hours although other economic data seemed good enough for the central bank. This simply means that there would be no expected rate hike from the BoC in the medium term, and this has somewhat caused the Canadian dollar to retreat further. Meanwhile, the dollar rose amid expectations of a March rate hike, and these factors has caused the currency pair to go over 1.3300 points where it is currently situated.

For this week, Canada will be releasing its unemployment rate data as well as its trade balance data, while US will be releasing its NFP data, all of which are expected to inject more volatility into the USD. The USD/CAD pair could possibly move towards 1.3500 and further, with corrections viewed as long-term sell opportunities.

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EUR/USD Fundamental Analysis: March 7, 2017

The EUR/USD pair is currently unable to go beyond its barrier and has been resigned to making small steps backwards and forwards within its given barrier and still has no definite direction. The pair is expected to continue its ranging and consolidation movements until such time that the EUR/USD pair faces major issues towards the end of this week. A lot of economic and political factors are now wielding their influences over the pair, and the market believes that it might take a few days before the market finally focuses back on the fundamental factors of the EUR/USD pair.

The previous session saw the EUR/USD pair briefly climb towards the 1.0640 barrier and looked poised to go further upwards. However, towards the end of the session it was announced that one of the main contenders in the French national elections has decided to back out, thereby making it a lot easier for French candidate Le Pen to possibly win the said elections. Le Pen is considered as one of the most controversial candidates in the elections as she is a known critic of the EUR concept, and this announcement has caused the euro to fall back towards 1.0550 points. However, the resiliency of the euro has stopped the currency pair from creating further damage and is now floating at just over 1.0580. The market believes that the currency pair would continue to range and consolidate within the 1.0550-1.0650 barrier.

There are no major news releases coming from both the EU and the US for today and this is why the EUR/USD pair will most likely continue its ranging and consolidation movements for the rest of the trading day.

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GBP/USD Fundamental Analysis: March 7, 2017

The GBP/USD pair, just like the majority of currency pairs, spent the previous trading session in a ranging and consolidating manner. The main reason for this activity of most currency pairs is that these pairs are preparing themselves for the onslaught of volatility which could occur towards the end of the week, and this has caused the GBP/USD pair to get ensconced within a tight trading barrier for the rest of the previous trading session.

There were no major economic and political events which influenced the movement of the GBP/USD pair and this is why the currency pair was unable to go past the 1.2250-1.2300 barrier, with neither the bulls nor the bears managing to take control of the currency pair. However, the pair is expected to remain under pressure as the various Brexit-related concerns surrounding the UK continue to affect the stance of the currency pair. The sterling pound is also finding it very hard to recover from its recent losses since the bears almost always resort to selling off the sterling pound once a bounce appears in the direction of the pair.

There are no major economic data coming from both the UK and the US today, and this is why the GBP/USD pair is expected to continue its ranging and consolidation with no definite sense of direction. The currency pair will continue to remain within its current tight trading barrier with a bearish undertone.

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EUR/USD Fundamental Analysis: March 8, 2017

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

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

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

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GBP/USD Fundamental Analysis: March 8, 2017

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

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

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

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USD/CHF Technical Analysis: March 8, 2017

The U.S. dollar against the Swiss Francs continues to rally from 0.9860 as the intraday sentiment maintained in the upper channel as it tested on 1.0342 Resistance level. However for a medium term trend, traders should be careful to top closed to 1.0342 mark. In the lower channel it broke at 1.0008 level that implies a completion of the rally from 0.9860 mark which will be reversed to the downside for 0.9860 region.


It seems that the pair will maintained its medium term lateral pattern. A clear break to the resistance of 1.0342 mark signifies the strength of this level. Contradictingly, the pair will maintain its neutral stance. If the pair continues to fall down, the next support level would from 0.9443 up to 0.9548 zone. A strong break at 1.0342 mark with the target of 38.2% retracement level of 1.8305 then 0.7065 to 1.1359 area.

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USD/CAD Technical Analysis: March 9, 2017

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

The pair was trading flat and toggled in the middle of the Wednesday night session. The price is positioned in tight channels of 1.3400 - 1.3430 all throughout the night.

Moreover, the USD resumed its short-term bullish trajectory during the earlier trades. The major further pulled out from the 1.3400 region and rallied higher heading to 1.3470.

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

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

The bullish market structure is expected to remain in its place in the short-term. Bulls next target is at 1.3470.

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EUR/USD Technical Analysis: March 9, 2017

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

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

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

Resistances landed at 1.0600, support is at 1.0500.

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

Any action under the 1.0550 region would trigger bearishness to 1.0500 mark.

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GBP/USD Fundamental Analysis: March 13, 2017

The GBP/USD pair traded rather dismally for the majority of last weeks sessions as the concerns on the UK economy and the sudden surge in the value of the USD has kept the sterling pound under constant pressure for the rest of the week. The strength of the USD has recently been subject to fluctuations, and while it ended the week on a stronger note compared to other major currencies, for the euro and the British pound, it was otherwise. The invocation of the Article 50 is drawing nearer, and this has also led to an increase in Brexit-related concerns and has also pushed the pair down towards 1.2200 points and so far it has been unable to recover from this particular region.

A lot of analysts have been saying that any bounce in the currency pair should be seen as a short trading opportunity, and since the sterling pound is not expected to make a full recovery anytime soon and with the USD gearing up for more medium-term advancements, the currency pair would most likely feel the impact of the pronounced weakness in the sterling pound.

For this week, the UK will be releasing its claimant count change data, earnings index, as well as a rate statement and a rate announcement from the Bank of England. On the other hand, the US will be releasing its retail sales data, its PPI data and CPI data, which are all expected to inject some volatility into the currency pair. But the spotlight for this week will mostly be directed to the FOMC rate announcement, where the central bank is expected to implement another interest rate hike, which will likely be followed by a hawkish statement from Fed officials. However, it has yet to be seen whether the banks statement would be hawkish enough for the bulls to push the pricing of the USD upwards. If this happens, then the GBP/USD pair could possibly test 1.2000 points in the near future.

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USD/CAD Fundamental Analysis: March 13, 2017

The USD/CAD pair consolidated for the most part of last weeks session after breaking out during the previous week. The USD/CAD pair moved towards the 1.3500 barrier, which is the barrier that the pair bulls have been constantly trying to break through during the several previous sessions, with the pairs last attempt to surpass this region resulting to the pair retreating significantly back to 1.3000 points. The bulls have become increasingly cautious of this particular region and this is part of the reason why the bulls have resorted to ranging and consolidating at just under this range.

Both the US and the Canadian economy released a string of economic data during the latter part of last week, with both the numbers and employment rates coming out at a much better rate than expected. This has then increased the probability of a Fed rate hike within the week and confirmed the positive economic growth for Canada. As a result, the USD/CAD pair was not subject to any drastic changes since both currencies cancelled out the others projected positive effects on the pair and on the market.

For this week, the US will be releasing its retail sales data, as well as its PPI and CPI data, in addition to the much-awaited announcement from the FOMC, which will determine whether the central bank has decided to implement an interest rate hike or otherwise. However, since the Federal Reserve is pretty much expected to increase its interest rates and have a hawkish statement. As such, the USD could possibly weaken following the FOMC rate announcement, a move which should be closely guarded by the USD/CAD pair.

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USD/JPY Fundamental Analysis: March 13, 2017

The USD/JPY pair posted impressive gains during the previous week, with the majority of the past weeks gains being attributed to the possibility of a quarterly interest rate hike by the Federal Reserve for this year. However, as Fridays session commenced, the currency pair retreated slightly after economic data coming from the US showed that the countrys economy might not be stable enough to implement another interest rate hike immediately this coming June. The USD/JPY pair finished off the previous trading week at 114/738 points after increasing by +0.65% or 0.744 points.

USD/JPY traders had initially believed that the March rate hike was pretty much in the bag, but the release of the NFP report last Friday has shed some doubts with regards to the timing of future interest rate hikes from the central bank. In addition, the average hourly earnings came in at 0.2%, falling short of the expected reading of 0.3%.

The USD/JPY could possibly retreat in value for this week as investors start adjusting to the weak NFP report, and the closing price of the currency pair would be likely determined by the monetary policy statement from the Fed this coming Wednesday. On Thursday, the Bank of Japan is expected to maintain its benchmark interest rates and could possibly cite references on the countrys present economic environment as well as other economic factors which might impact the central banks policy decision. The BoJ could also state that the increase in US interest rates might be good news for the Japanese economy as this could lend added pressure to the Japanese yen which could trigger a rise in exports demand.

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GBP/USD Technical Analysis: March 13, 2017

The expectations for Consumer Inflation and Industrial Production of Britain showed lower-than-expected results that further weighed on the British currency.

Moreover, the sterling stayed flat out on Friday. The major is trading in the middle points of 1.2200 and 1.2170 but failed to establish a short-term position.

The spot hovered under the moving averages and advanced lower as shown in the 4-hour chart. Resistance highlighted 1.2200, support is at 1.2100.

The MACD histogram increased which confirmed weak stance of the sellers. RSI came close to the oversold territory.

We expect two possible scenarios. When the GBP is oversold, the marks 1.2250 1.2300 will not be excluded in the correction. Also, if the sellers continued to be in control the major will keep on sliding. Having broken the 1.2150 region, the 1.2100 will recur within the range.


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EUR/USD Fundamental Analysis: March 14, 2017

The EUR/USD pair merely floated around during the previous session with no definite direction as the market prepares itself for the onset of economic data which is expected to hit the US market this coming Wednesday. The FOMC meeting will commence on Wednesday, where the committee is expected to make the rate announcement as well as another statement, which would hopefully contain confirmation of the much-awaited interest rate hike. As of the moment, the EUR/USD pair is currently trading at just over 1.0650 points and is expected to exhibit more ranging and consolidation as the market awaits the rate statements from the FOMC tomorrow.

Draghis speech yesterday did not do much to improve the current stance of the EUR/USD pair and was unable to induce added volatility into the currency pair. As of the moment the euro is still being kept afloat by last weeks events, particularly Draghis statement that the EU is already well on its way to recovery with regards to accomplishing its fiscal and economic goals.

For todays series of trading sessions, there are no major news releases from the EU while the US economy will be releasing its PPI data later today. But since the market is now focusing themselves on the release of the FOMC tomorrow, this particular piece of data is not expected to increase the pairs volatility rates. The EUR/USD pair could be in for more ranging and consolidation as the day progresses.

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GBP/USD Fundamental Analysis: March 14, 2017

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

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

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

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USD/CAD Fundamental Analysis: March 20, 2017

The USD/CAD pair lost over 200 pips last week and although the currency pair managed to make some measure of recovery before the week came to a close, it is obvious that the USD/CAD pair has now reverted to its larger ranges, thereby making it much more vulnerable to its range lows. The pair has incessantly moved towards 1.3500 points during the past few months but has been unable so far to break through this barrier, causing the currency pair to retreat to its bottom rungs at the 1.3000 region.

One of the reasons for this recent retreat in the USD/CADs value is that the USD has started weakening across the board as a reaction to the recent release of the FOMC rate announcement and the subsequent statement from the central bank. The interest rate hike from the Fed was already expected by the market and has not affected the course of the USD/CAD direction. However, the market was disappointed with the lack of enough hawkishness from the Feds statement after the central bank chose to remain neutral, leaving a lot of speculations in its wake with regards to the pricing of the next interest rate hike. As a result, the US dollar was subject to a lot of selling across the board, with the USD/CAD pair going down from 1.3500 to 1.3400 points and even want as far down as 1.3300 before finally hitting some solid support barrier which enabled it to hold on its own until the rest of the week ended.

For this week, the Canadian economy will be releasing its retail sales and CPI data while there are no expected releases from the US economy. If Canada continues releasing a slew of positive economic data, then the USD/CAD pair could possibly drop further in value and could reach 1.3100 points. This particular price action is pretty much expected from the currency pair since the dollar is also expected to drop in the short term as well. However, there is still a possibility that the pair will maintain its stance on the 1.3000 points and the dollar would revert, thereby pushing the currency pair towards 1.3500 points.

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USD/JPY Fundamental Analysis: March 20, 2017
The USD/JPY closed down last weeks session on a much lower note as a reaction to the Fed policy statement as well as its interest rate projections. The USD/JPY finished off last week at 112.616 points after going down by -0.59% or 0.670 points. The currency pair underwent significant pressure last week as the Fed failed to outline a specific timeline for its next rate hike in spite of the central bank increasing its interest rates.
Prior to this particular decision from the Fed, market players had been expecting a total of four interest rate hikes for the duration of the year, which is why a lot of US Treasury investors had to adjust their portfolios accordingly following the Fed announcement due to a shift in general market sentiments. In addition to the Fed rate hike, the BoJ also voted 7-2 on its decision to maintain its yield curve control policy, wherein BoJ officials favored to maintain its zero target for 10-year Japanese government bond yields. In addition, the Bank of Japan also added that it will be continue buying Japanese government bonds at 80 trillion yen or $705 billion per annum.
There are no major economic reports set to be released from the Japanese economy for this week, but the US economy will be releasing its core durable goods data and unemployment claims data this week. Janet Yellen will also be making a statement this coming Thursday. As such, the price action of the USD/JPY for this week would most likely be dictated by the G20 decisions set to be released this week.

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GBP/USD Fundamental Analysis: March 20, 2017

The GBP/USD pair had probably some of its best weeks in recent market history after the currency pair surged by almost 300 pips last week and closed down last weeks session near its range highs, which should be a cause for celebration for the pairs bulls. This move was also augmented by the recent weakness in the USDs value, thereby enabling the currency pair to recover from its recent lows at 1.2100 points and has caused the pair to move towards 1.2200 and 1.2300 points. The GBP/USD pair is now trading at just under 1.2400 and looks poised for more.

This recent increase in the GBP/USD pairs value was due to the Feds decision to keep mum on the schedule of its next interest rate hikes while at the same time increasing its interest rates. This uncertainty did no good for the dollar bulls since the bulls have been expecting a strongly hawkish statement from the central bank. As a result, the USD was met with large-scale selloffs, which enabled the currency pair to move towards 1.2200 points. The sterling pound also got another boost from reports that one BoE official had voted in favor of an interest rate hike in order to help support the countrys economy. As a result, the GBP/USD pair managed to go past 1.2300 points and closed down the week at 1.2400 points.

The currency pair is expected to maintain its bullishness in the short term but could possibly weaken in the medium term as the Brexit process begins which will put the GBP/USD pair under considerable pressure. There are no major news releases from the US but the UK will be releasing its retail sales data. This recent surge in the GBP/USDs value is most likely to fizzle out eventually and would not be sustained in the long run.

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USD/CAD Fundamental Analysis: March 21, 2017

The USD/CAD pair merely continued its weak trading streak within a limited trading range as the currency pair awaits clues on its price action as dictated by its fundamental indicators. Previously, the USD/CAD pair had already dropped in value last week following the FOMC rate statement, which disappointed investors in general, and since then the currency pair has been unable to make any significant progress and if the pair does move forward, it will be more of a consolidation in order to recover its recent losses than any move towards a definite direction.

The USD/CAD is currently trading at just over 1.3350 points, with the market expecting the currency pair to consolidate within the 1.3300-1.3400 region. The pair is expected to return to its wider trading range and could possibly reach 1.3000 points in the near future. The USD/CAD pair, along with other major currency pairs, are expected to consolidate within a much higher range in spite of their collectively high volatility levels.

The Canadian economy has been consistently releasing a slew of positive economic data, and this is expected to be very good news for the Canadian dollar and could cause the USD/CAD pair to retreat to 1.3000 points. For todays session, Canada will be releasing its core retail sales data, which will be closely monitored by market players as this will be an important gauge on the overall health of the Canadian economy. If the data meets market expectations, then the USD/CAD pair could retreat towards 1.3300 points and could be poised for more retractions depending on the strength of the said retail sales data.

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USD/CAD Fundamental Analysis: March 22, 2017

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

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

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

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GBP/USD Fundamental Analysis: March 22, 2017

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

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

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

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EUR/USD Fundamental Analysis: March 22, 2017

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

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

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

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USD/CAD Technical Analysis: March 22, 2017

The loonie was able to gain enough strength in advance of the report of Canadian Retail Sales. Meanwhile, the broad-based weakening of the greens provided support for the major. Other than that, traders await for the speech to be made by Fed representatives on Thursday.

The USDCAD escaped from the consolidation period and ascended lower yesterday. Sellers made a gapped through 1.3330 in the first part of the day and continued to drive the spot down.

The major was able to maintain an ask tone in the noon.

As illustrated in the 4-hour chart, the price is positioned under 100-EMA. While 100 and 200-EMAs resumed increasing, the 50-EMA preserved bearish pattern.

Resistance reached 1.3330 level, support holds 1.3260 region.

The MACD histogram had a dipped which confirms strength towards the sellers position. RSI advanced southwards.

A firm break under the 1.3330 handle would risk 1.3260.

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GBP/USD Technical Analysis: March 22, 2017

The British currency strengthened as the UK CPI in February exceeded expected results. On one side, the speech of BOE Gov. Carney was in focus yesterday.

The pound established an active stance in the earlier trades after an uncertain position held amid Asian hours. The price has seen spiked in the morning session of EU.

Buyers surpassed 1.2400 and made an advanced move afterwards. The upward momentum is losing its steam with a few pip under 1.2500 mark.

The 200 and 100-EMA resumed to move lower while 50-EMA remain to be in a bullish pattern and the major crossed upwards the 200-day moving averages noted in the 4-hour chart.

Resistance is at 1.2400, support lies at 1.2300.

The histogram grew less indicating a weak position of the buyers as well. RSI oscillator headed higher.

There still a possibility for an extension towards 1.2500. Should buyers collect enough strength to attain 1.2550 in the future.

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NZD/USD Technical Analysis: March 24, 2017

The New Zealand dollar preserved its position on the back of steady rate by RBNZ with a record low of 1.75%.

The NZDUSD lies within the narrow sideways channel yesterday. The price hovered in the middle marks of 0.7050 and 0.7025, it keep on moving up and down between the levels.

Based from the data presented of the 4-hour chart, the 100 and 50-EMAs remained below the 200-EMA, the 50-EMA further made an upward crossover the 100-EMA. While the 200 and 100-EMA retained its bearish pattern. The 50-day moving averages directed up.

Resistance hold 0.7050, support lies at 0.7000.

The MACD had moderately decreased indicating weak buyers position. The RSI is confined near the neutral zone.

We consider the possibility of the pair to reach 0.7100 in the immediate future.

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GBP/USD Technical Analysis: March 24, 2017

The British currency was able to gain strength on Thursday considering the strong report of Retail Sales.

Traders took the GBPUSD near 1.2500 level during the night as it moves closer the level. Bulls tried breaking again through the post-opening of London session, however, attempt remains unsuccessful.

As shown in the 4-hour chart, the price resumed developing well on top of the moving averages whereas the 100 and 50-EMAs drove upwards while 200-EMA appeared neutral.

Resistance came in at 1.2500, support entered 1.2400 mark.

The MACD retained its position indicating buyers strength. The RSI oscillator was confined in the overbought territory.

When the pair brings about consolidation over 1.2500, the next focus is 1.2600 resistance region.

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EUR/USD Technical Analysis: March 24, 2017

The results for German Consumer Confidence Survey showed downbeat figures which weighed on the single European currency. The greenbacks also softened as the vote for the Trumpcare bill is scheduled amid North American session. In addition to it, traders await for the speech of Janet Yellen joined with some Fed Reserve officials. While investors are hoping to obtain renewed hints with concerns for the possible action about Fed rate increase.

The EURUSD kept its position during morning trades on Thursday. The spot continued to move towards the ascending channel converging on its lower limit.

The EUR rebounded to the 1.0800 level and descended during EU morning session. As outlined in the 4-hour chart, the spot extends its development on top of the moving averages as the 100 and 50-EMA headed upwards while 200-EMA stayed neutral.

Resistance highlighted 1.0800, support pierced 1.0750 mark. Moreover, the MACD histogram weakened indicating a weak position for the buyers as well. RSI is considered neutral.

The current pull back is referred to the profit-taking involving the bulls. The euro could possibly slide through 1.0750 where we could find an upward trend line. The major might received an upwards rejection from the mentioned line.

In case the bulls were able to remain in the drivers seat, the levels 1.0800 and 1.0850 are considered a competitive price for investors.

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EUR/USD Fundamental Analysis: March 24, 2017

The EUR/USD pair exhibited a sideways price action for the majority of yesterdays session as the market awaited the results of the US healthcare bills impending votation. A lot of market players believe that this particular bill is essential to the Trump administration, although some are also speculating that the current administration might be in danger if the bill does not get the required quorum, however this is not how the issue is supposed to unravel.

The uncertainties surrounding the healthcare bill would be clarified by the fact that the Trump administration would nevertheless continue with its present ways regardless of how the healthcare bill pans out. The market had generally expected the bill to conclude to a vote yesterday and this has prompted the EUR/USD pair to remain within its tight-range trading but then the discussions and negotiations within the bill took longer than expected, and a vote could not be made yesterday. As such, the market is hoping that a vote would finally happen within todays session regardless of the results of the said voting on the bill. Until then, the EUR/USD pair is expected to remain trading sideways as the market waits for the results of the said vote.

Fed member Evans will be speaking during the latter part of todays trading session but this is not expected to make a significant dent in the USDs price action. The fate of the US dollar is largely dependent on the results of the healthcare bill vote and if the bill does get passed, then this would mean good news for the dollar and could see the EUR/USD pair breaking the 1.0750 barrier and head towards 1.0700. Otherwise, the EUR/USD pair could possibly test the 1.0800-1.0830 barrier, where it might eventually push through.

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USD/CAD Fundamental Analysis: March 24, 2017

The USD/CAD pair continued its tight trading action during the previous session as it did with the past trading days. The currency pair is caught within a very cutthroat range of 1.3300-1.3400 point, where it shows no signs of breaking through anytime soon. The Canadian dollar is looking very weak as of late as oil prices remain under the $50 barrier. In addition, the Canadian economy is also showing absolutely no signs of imminent improvement, causing the Bank of Canada to have a somewhat levelheaded economic outlook for the country.

The USD also has a very dismal outlook as the US economy waits for the results of Trumps healthcare bill. Trumps new healthcare is part of the current administrations plan to stamp out the previous administrations Obamacare and therefore wield more authority into this particular sector while realizing one of Trumps campaign proposals. However, the majority of Trump supporters are not too keen with regards to the passing of this particular bill, with the past few days being spent via long discussions and negotiations with regards to this particular issue.

The voting for Trumps healthcare bill was supposed to come to a conclusion yesterday, but due to lack of significant support from the government this has eventually led to nothing but a series of prolonged discussions, prompting the administration to postpone the vote and hopefully commence the voting today, an influx of support notwithstanding. If the bill manages to get passed, then this could lend support to the US dollar. Aside from this bill, the Canadian economy will also be releasing its CPI data which is expected to impact the status of the USD/CAD pair.

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GBP/USD Fundamental Analysis: March 27, 2017

The 1.2500 barrier continues to be a very crucial barrier for the GBP/USD pair. A lot of analysts continue to say that unless the currency pair manages to break through this particular region, then the GBP/USD pair could possibly retreat to the 1.2100 region. This is one of the reasons why the pairs bulls and bears are fighting it out within this region. Meanwhile, the Article 50 is expected to be invoked this coming March 29, and as based on the market stats, more traders are now piling up on the pairs shorts as the market expects the currency pair to drop once the invocation commences. The high expectations from the market could possibly spell danger for the currency pair.

Since the market very rarely does what the market expects of it, the risk of a possible short squeeze in the markets could possibly be very bad news for the majority of currency traders. This is why it is very vital to wait and see first whether the currency pair would indeed manage to break through 1.2600 and take profit where it is already short. The data from UK last week has had virtually no impact whatsoever on the countrys economy, and this has heightened the risk for a possible upmove.

For this week, there are no major news releases from the UK economy while the US will be releasing its GDP data. The GBP/USD pair is then expected to undergo a lot of volatility this week especially with the invocation of Article 50 and the onset of month end flows.

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USD/JPY Fundamental Analysis: March 27, 2017

The USD/JPY pair retreated significantly during the previous week as investors relieved themselves of high-risk assets following a drop in US Treasury prior to the voting on the US healthcare bill last Thursday and Friday. Due to the said bill getting postponed already twice in a row, the USD/JPY pair weakened not because of the postponement of the said bill but because of large-scale investor uncertainties even before the voting on the bill even commenced. The USD/JPY closed down last weeks session at 111.306 after dropping by -1.16% or 1.310 points.

The Bank of Japan has recently released the minutes from their most current policy meeting, and here we see the central bank thumbing down suggestions of a possible hike in the economys 10-year government bond yields in order to match the projected gains in Treasury yields. Those who suggested this particular move stated that the central bank should instead focus on hitting its inflation rate target of 2%, which is a very hard task to do since Japan still has concerns regarding inflation expectations and overseas economies as seen in the BoJ minutes.

There are no major economic news releases as far as this week is concerned, with the market only expecting Tuesdays consumer confidence data from the US and Thursdays final GDP report. The USD is expected to exhibit some movements this week as a lot of Fed officials are expected to release statements, and the probability of a USD movement would increase if the said officials would talk about the current administrations economic plans. However, the USD could be under pressure if Fed officials hint at a fewer rate hike frequency if Trump fails to carry out his proposals for fiscal spending and tax reform. This is why the USD/JPY pair would most likely be directed by the price action of the yields.

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