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EUR/GBP Technical Analysis: June 9, 2017

Traders encountered high volatility during the Thursday session due to the major events that affected both currencies for the day. One is the U.K. Parliamentary election and the other is the ECB interest rate decision about to be discussed. Besides the decision alone, other comments during the meeting would be equally significant especially about the topics of quantitative easing.

Currently, it seems that the British pound is leading against the British pound which is not surprising because of the election and it looks like the Conservative is dominating the trend.

It seems that the market will continue to have high volatility as the market focuses on the headlines. With the ongoing Brexit, it is not surprising to have volatility in the market which will most likely continue to affect the pair every now and then. It might need a few days to soothe the market to manage real money in here. As of now, the trend is currently moving towards the 0.86 level for short-term.

It is too early to tell which the direction this pair would go and a blank guess could be disastrous as a single move is significant for a short period of time. Let us hope that the market will settle down come Monday trading session.

EUR/USD Technical Analysis: June 13, 2017

The European Central Bank decided to stabilize the apple cart and did not talk about the withdrawal of Quantitative Easing turning the focus towards the talks regarding Brexit and politics. Italian elections were delayed which helped yields from Italy to decline on the back of an extensive narrowing of spreads followed by the dovish remarks pronounced by M. Draghi. However, lots of political challenges remain in the future.

The anti-European forces appeared to be inactive while in Catalonia, Spain threatens the stability of the Spanish country due to the independence referendum planned for October 1.

The debt relief of Greece continue to hang in the Euro region and this is the expected major topic in the EU meeting scheduled on Thursday.

The EURUSD tried to move higher but failed to reacquire its previous resistance found at 1.1227 level close to the 10-day moving average.

The exchange rate indicates the second day of the Doji formation that further shows uncertainties where the close and open levels are in the same range.

Moreover, the pair seems to generate a head and shoulder reversal pattern which starts to produce the right shoulder followed by the left and lastly the head which resistance region entered the 1.1285 area.

Prices in the previous weeks failed to break 1.1299 mark seen around the November 8 highs. The majors near-term support holds 1.1109 near the lows of May 29.

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

USD/CAD Technical Analysis: June 13, 2017

A negative sentiment presides the market especially for the Canadian dollar and U.S. dollar pair on Monday session. Although the Canadian dollar is gaining strength because of stronger-than-expected employment data last in the previous week. However, the market has to be mindful of the oil market which is not performing well. It is not far from happening that traders will sell this soon.

The price trend is near to the base of the consolidation area instead of being on top. It is highly possible for the trend to remain in consolidation as how it has been in the past few days. Higher than the 1.3550 region serves as a resistance level but it wont take long before the market breaks it especially if the oil market spiraled down.

It might not be advisable to sell this pair unless the pair breaks lower than the said 1.3350 region which is strongly supportive, followed by a rally due to the oil market. However, this could not happen and will most likely climb higher instead. Although, we could not tell if this will stop and persist after the breakout.

There is high volatility in the market but it seems that the trend will not favor the buyers since there is strong support found below. Moreover, it wont be too long when the oil market plunge down which continue to put pressure on the market.

EUR/USD Fundamental Analysis: June 13, 2017

The EURUSD lost its strength on Friday because of the news regarding the elections in Great Britain along with its unexpected results that prevailed over the headlines within that day which both brought an effect towards the single European currency.

As mentioned in the previous forecast, the elections will only be concerned by the United Kingdom but there is a tendency that the euro will also be affected since the election results can make an impact on the Brexit process and further negotiations.

The Conservatives were unsuccessful to gain the majority as opposed to the predictions which are an advantage to the side of the Eurozone, this caused them to get into a tighter spot contrarily to their desired position. With this, it is assured that the expected PM would become very weak as Theresa May or any other candidate is going to take the position for the negotiations together with the European leaders while the opportunity to change things is very limited.

Obviously, the EU leaders are eager to begin the discussion immediately. The EUR did not decline because of this as the 1.1200 level appeared to be a correction in the uptrend and not a change in any action.

This caused the pair to rebound through the support level 1.1165 and currently trailed over 1.12 as of this moment.

According to projections, the major will remain trading stronger in the near-term as the 1.13 serves as the ceiling while waiting for the FOMC this week.

There is no big news for today, either from EU or US, but consolidation should be anticipated.

USD/CAD Fundamental Analysis: June 14, 2017

The USD/CAD pair exhibited a very weak price action during the previous trading session as there were no fundamental releases which could help in propping up the status of the currency pair. However, the currency pair might be able to redeem itself within the day once the FOMC releases its rate announcement and statement later on, although this could possibly be more of a downward movement for the pair.

As of the moment, the USD/CAD pair could possibly continue its bearish price action at least until the medium term after the Bank of Canada declared that it will be making adjustments with regards to its overall outlook on the countrys economic and fiscal policies. Moreover, the central bank also hinted at a shift in its outlook with regards to its rates after the BoC decided to resume increasing its interest rates, which is a complete reversal of its current policy of cutting back on its rates. This recent move from the BoC shows the banks confidence with regards to the overall state of the Canadian economy. This is also a manifestation of the recent slew of Canadian economic data which all showed a marked improvement within the countrys economy. Although there were some concerns with regards to housing and banking, these were handled almost immediately and has enabled the countrys central bank to maintain its focus on the state of the economy. This has all contributed to the bullish undertone of the Canadian dollar and has caused the CAD to surge in value in spite of a recent drop in oil prices.

For todays session, the market will be focusing on the FOMC rate announcement, and a hawkish statement from the Fed could cause the USD/CAD pair to correct towards 1.3300 points, although it is likely that this move would be a mere bounce and the currency pair could resume its downward price action with 1.3100 as its next short-term goal.

EUR/USD Fundamental Analysis: June 14, 2017

The EUR/USD pair merely continued its tight trading action during yesterdays session as the market braces itself for the annou

ncement coming from the FOMC scheduled for today. The currency pair had initially attempted to move towards the bottom if its range but was immediately met with some large-scale buys in the 1.1160-1.1180 range, prompting the currency pair to revert to its original range.

During the previous session, the most important region for the pairs bulls and bears was the 1.1200 trading range, with the currency pair managing to close down yesterdays session at just over this particular range. However, this would all be futile if ever the Fed decides to implement another interest rate hike and release a very hawkish statement. As of the moment, the market has priced in a 90% possibility of rate hike, with the Fed neither confirming nor denying rumors of a possible interest rate hike. The market has taken this as a positive signal from the Fed as far as the rate hike is concerned, and this is one of the reasons why the EUR/USD pair is now trading within its range lows paired with somewhat tame bounces in between as the USD continues to hold on to its current value. Now that the rate hike is already priced in, the market will now be shifting its focus towards the FOMC statement, where the central bank is expected give clues with regards to the next rate hike. The next scheduled rate hike was initially scheduled to be implemented this coming September, however a series of negative data from the US economy has caused doubts on whether the central bank will be indeed pushing through with the next rate hike.

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

GBP/USD Fundamental Analysis: June 15, 2017

The GBP/USD pair remains volatile as of the moment, with the pairs volatility mostly stemming from events happening within the US and the UK economy as well. This is undeniably going to be a very challenging time for long traders, although volatility-loving traders would see this as a very profitable period as far as the cable pair is concerned.

During the previous session, the GBP/USD pair was able to whipsaw during the first few hours as the market initially expected a possible UK government formation although this was quickly dissipated for at least a week. In spite of an official statement coming from the UK government, the market believes that this is mostly to enable the British Parliament to invite more partners and to settle any possible conflicts between the Conservatives and the DUP. Both parties seem to have reached a common ground, and while this will serve as a breather for the sterling pound, it has yet to be seen how long this calm before the storm would last and what other factors would influence the movement of the pair. Moreover, both EU and UK officials have announced that they are ready to push through with the Brexit negotiations which are set to commence in a few days time. The retail sales data and the CPI data from the US economy on the other hand disappointed market players, triggering a dollar selloff following speculations that the Fed might choose to step back and re-think its stance on interest rates. This caused the GBP/USD pair to advance towards the 1.2800 trading range, although this took effect for only a few hours as the FOMC announcement came in, with the central bank announcing an interest rate hike and chose to shrug off the recent negative economic readings. This enabled the dollar to regain its losses and the GBP/USD pair is now comfortably trading at just over 1.2750 points.

For todays trading session, the UK economy will be releasing its retail sales data, while the MPC will be releasing its rate announcement and monetary policy during the latter half of todays session. These are all expected to increase market volatility, although it remains to be seen how the MPC will respond to the current political landscape. The MPC could possibly maintain its neutrality although this might not have an effect on the cable pair as it will continue its weak price action at least in the short term.

EUR/USD Technical Analysis: June 15, 2017

The EURUSD climbed up higher during earlier session of Europe, however, the pair drive downwards amid North American session, and remained steady after the Fed announced its decision to raise the interest rates.

The U.S Fed Reserve tightened its rates by 25 basis points to a range of 1% to 1.25%. They have already confirmed that inflation slowed down but based on their economic forecast, job markets appeared to be tighter in 2018 and 2019.

The projections were unchanged as most of the officials from Fed implied further twice rate hike for this year. Moreover, the CPI and U.S. retail sales showed a lower than expected results that helped the major pair to buoyed initially.

The pair moved near the resistance which currently acts as the support touching the 1.1231 level around the 10-day moving average. Further support came in at 1.1109 region placed near the lows of May 29 while the resistance highlighted the area 1.1285.

Momentum was neutral and the moving average convergence divergence (MACD) prints in the red showing a flat trajectory that indicates for a consolidation.

USD/CAD Technical Analysis: June 19, 2017

The U.S. dollar against the Canadian dollar moves sideways within the trading scope between 1.3164 and 1.3308 region. The resistance is found at 1.3308 level for short-term and break out in this level would test the next key resistance level at 1.3350. If the said level at 1.3350 is sustained, then the next move will most likely from 1.3164 as a form of consolidation for a descend from 1.3793.

A downtrend towards the 1.3050 will most likely happen next, following the consolidation. The short-term support is found at 1.3164 and a breakdown from this mark would hint the extension of the downtrend.

USD/CAD Fundamental Analysis: June 19, 2017

The USD/CAD pair had a very bearish trading session as the currency pair closed down last weeks session on a much lower note. The price action of the USD/CAD pair has been largely influenced by the dollar movement and oil prices, although last week was the week of the Canadian economy and its effect on the currency pair, which has maintained its strong stance throughout the course of last weeks session.

The drop in the value of the loonie came about when BoC official Carolyn Wilkins stated that the central banks previous rate hikes are already past its prime, and that the central bank could possibly implement future rate hikes. This apparent policy reversal then had a wide-reaching effect on the state of the loonie. This remark from Wilkins came as a surprise, since her statement was wholly unexpected by the market. This triggered a sudden market reaction and caused the USD/CAD pair to sink through its support range at 1.3400 points, which continued for a few more days. However, the steadying oil prices has helped to strengthen the loonie and as traders started to feel as if they made the wrong decision with the loonie and this caused the CAD to crash towards 1.3160 points before making a slight reversion towards 1.3200 towards the close of last weeks session. As of the moment, the USD/CAD pair now has a bearish outlook.

For this weeks session, the Canadian economy will be releasing its CPI and retail sales data while there are no releases from the US economy. If the data comes out as positive, then the USD/CAD pair could possibly advance towards 1.3000 during the course of the week.

EUR/USD Fundamental Analysis: June 19, 2017

The EUR/USD pair exhibited a very volatile price action last week, although this was pretty much expected for the pair as the market reacted to the FOMC rate announcement, which brought upon a high level of liquidity into the market. As of late, the euro is among the strongest major currencies against the dollar because of a string of consistently good data from the EU economy, which was in turn recognized by both the IMF and the ECB last week. This triggered a surge in market expectations of a tapering of the ECBs quantitative easing program, although Draghi has been naught to confirm any possible tapering measures from the central bank during these past months.

The dominant market trend last week was the Fed rate hike and other relevant data from the US economy. The US economic data has been consistently on the downside during the past two months, the most recent being the release of the retail sales data, CPI data, and housing data which all failed to meet initial market expectations. This caused a tumult within the market as investors feared that the Fed might step back and rethink its scheduled rate hike due to these very weak data. This caused the EUR/USD pair to make an advancement towards 1.1295 points, although the Fed eventually came around and pushed through with its rate hike and this has helped to tame the currency pair. The Fed also chose to shrug off the consistent weakness in the economic data of the US and instead shifted its focus on projections for the US economys growth. The market took this as hawkish and enable the EUR/USD pair to surpass 1.1200 points and reach the 1.1130 mark. But as the week came to a close, the market received a very weak housing data, and while this triggered a slight bounce in the currency pair, the EUR/USD pair closed down the week on a slightly lower note at under 1.1200 points, an indicator that the bulls are still dominating the EUR/USD pair.

For this week, there are no major news releases from both the US and the EU economy and the EUR/USD pair is expected to remain ranging with a bullish undertone, with 1.1300 points as the pairs boundary.

GBP/USD Technical Analysis: June 19, 2017

The sterling pound had increased in a moderate manner amid Friday session, as it grinds through the 1.28 handle. This level apparently offers some resistance, however, the market seems was determined in trying to cut through on top of it. Ability to do so, will enable the market to move over the 1.29 region. Otherwise, a pullback must find another leg close the area 1.27 as this might provide some support during trading on Thursday.

The Bank of England provided support to the British currency as the bank became more hawkish which favors the GBP in general. When the market break out in the upside, it would touch the 1.3050 region.

Many long-term speculators have purchase the Great Britain pound and it is not really surprising for the returns that could drive things towards their direction.

As the year ends, the target will be at the 1.3450 level or even higher. The trend will further ascend when the UKs government gained clarity about the EU exit.

New highs of the pound can easily be done when this issue will be cleared combined with higher-than-expected inflation figures. Contrarily, a breakdown under the level 1.2640 would push the market to a lower grounds, down to 1.25 handle.

EUR/GBP Technical Analysis: June 20, 2017

The Euro against the British pound declined during the Monday session as it reached the 0.725 region. A rebound from that level propelled the trend down to 0.8775 level. There is a chance that 0.88 level and above becomes a significant resistance which is the next target of the pair.

Looking back at the long-term charts, several breakouts were seen and there are some levels being supportive. These breakouts indicate bullishness in the trend that is not yet filled. Although, there will be much more buying opportunities if the price fell down to the base of the trend. If the price breaks higher than the 0.88 handle, then the market could go higher towards the 0.8850 level then to 0.90 region.

Overall, there will be choppiness in the market with the ongoing Brexit negotiation which brings uncertainty among traders. However, the principal driver of the movement of the pair will still be the major news as traders try to determine what will happen next as priority more than anything else. There are still remaining time and choppiness will still be present for the next few months or a few years later.

The market will most likely move upward which makes buying more propitious wif given an opportunity. The breakdown could go down much further but would be favorable for seller this time whereas the bullish pressure will be lessened which would shift the overall sentiment of the market.

GBP/JPY Technical Analysis: June 20, 2017

The British pound surged against the Japanese yen during the Monday session but this was reversed as it found support close to the 142 level. A breakout at 142.50 level would give a bullish sentiment that makes buying beneficial at this moment. In the past sessions, the market broke multiple times and a gap in the upper channel would be a positive trend in the market. The next target would be at 145 handle. Volatility will persist because of the ongoing negotiations between the United Kingdom and the European Union.

Currently, the market highly sensitive although it is usually vulnerable to risk appetite amid normal condition. Choppiness is also a contributing factor but a break out in the current psychological level would lead the trend in a single direction. A break lower than 141.50 level would be a negative sign for the market that makes selling more practical. The price could further go down towards the 140.50 level.

The Japanese yen being a safety currency could collapse if there are negative factors that could affect this pair. There are various major events that go both ways which could bring an interesting change to this pair. If the pair breaks higher, the market will gain impetus that could abruptly move the trend to the upside. The long-term move would be significant before placing money in this pair as the market gains momentum in the trading.

USD/CAD Technical Analysis: June 20, 2017

The USDCAD attempted to begin a rally during Monday trades, however, eyes resistance around 1.3250 region to made a reversal and move downwards. The 1.32 area had been offering some type of support while the oil sector continues to be shaky.

Despite changes in Canadas monetary policy, the oil still weighed pressured to the market. Having said that, a strong rally is anticipated but there is also a chance for the market to become choppy due to conflict amid interest rate and petroleum market from Ottawa.

Market participants should remain cautious as the market fluctuations persist in moving erratically.

The level above 1.33 mark is assumed to be the resistance and breaking on top of it would continue moving within a longer-term uptrend.

As shown in the longer-term chart, a massive uptrend line lies below which aid the market to search for buyers immediately.

In case a short-term selloff occurred, pay attention to oil for it will form a bearish pressure that will prevail over the Canadian dollar.

Meanwhile, the grind in the sideways will keep moving as the 1.32 region is the epicenter of currency traders.

EUR/USD Technical Analysis: June 20, 2017

The EURUSD traded sideways during Mondays trading session, however, there would be a massive decline when American traders regain the drivers seat and test the 1.1150 region below. There is a sufficient noise underneath which has to trigger support for short-term market players, at least. A breakdown beneath the region 1.11 appears to be supportive. A cut through down that area indicates the market is able to move downwards reaching the 1.10 mark eventually.

Otherwise, a rebound from this level would search for the next range which 1.12. Be mindful that the pair is expected to be volatile due to some reasons, especially the issue regarding Brexit negotiations.

Different factors affect the single European currency and the pair has high chance to slide down, even if the greenbacks weren't involved. Contrarily, there are rising concerns about the interest rate hike imposed by the Federal Reserve and it remains uncertain but it looks like they will pursue this rate increase. The market is still surrounded by many bits and pieces, hence the choppiness will remain. Ultimately, the focus will shift to near-term trading only, applied in both directions, apparently.

As the EUR/USD continued to be choppy, the pair appeared to unattractive to trade with. But every region could have brought effect towards the market and if you feel impetuously determined to employ this pair, you should be aware of that levels.

GBP/USD Fundamental Analysis: June 20, 2017

In spite of the Bank of England lending some much-needed support in order to prevent the sterling pound from having a total breakdown, the market is expecting the cable pairs downturn to return soon since the GBP is currently being surrounded with lots of ambiguity due to the Brexit negotiations. This was what the GBP/USD pair exhibited during the previous session as the cable pair managed to go past 1.2800 points, although a sudden dollar-buying surge caused the currency pair to crash and retreat under the 1.2750 trading range, with the pair now expected to maintain its very weak stance at least in the short term.

As of the moment, the sterling pound remains to be surrounded with high volatility levels, and while the institution of a new form of government is starting to gain some clarity including how the Brexit talks will be panning out, there are still several uncertainties which might not have a definite resolution in the near future. Since the market is very averse to any kind of ambiguity, this put severe downward pressure on the sterling pound. Moreover, the dollar strength has been further augmented by the Feds hawkish stance and the recent rate hike, and all of this has put the GBP/USD pair on the brink of crashing. The BoE is currently doing its best to help the pound keep its head above water via hawkish stances, but then again the central bank can only do so much to influence the value of the GBP/USD pair as the pair is still very much dependent on economic and political factors. This is why the cable pairs recent downturn is regarded as somewhat normal by the market, since the sterling is surrounded by a lot of ambiguity as of the moment. Any reversion in the pairs value should then be seen as a sell opportunity and should not be immediately taken as a trend shift.

For todays trading session, BoEs Carney will be delivering a statement, where he is expected to be very hawkish as part of the central banks attempt to support the cable pair. If Carney comes out as dovish, then the pound could possibly become affected by the dollar strength and the GBP/USD pair could sink towards its support range at 1.2650 points.

GBP/JPY Technical Analysis: June 27, 2017

This week started with a high volatility in trading the British pound against the Japanese during the Monday session. It climbed in the upper side towards the 142.40 level in the beginning of the session. It seems that the 24-hour exponential moving average is being supportive, however, the volatility of the stock market countered the move that caused the pair to drop.

There is a significant support level found close to the 141.50 region that makes it highly probable for the buyers to return in the market or in the sidelines. On the other hand, the 142.50 level offers a relevant resistance level and it wont take long before the price breaks out. If the market successfully climbed to the upside, then the next target of the pair will most likely be 145 handle.

Regardless of what happens, there are minor signs of volatility moving forward and open more opportunities with the current buying value. The market is anticipated to break out eventually although there are a lot of factors to consider that makes it complicated to trade this pair.

Not to forget, there are a lot of important factors that influence the British currency such as the ongoing negotiation between the U.K. and the E.U. Moreover, major news will have a big say to the market, influential enough to move the market and bring buying pressure to the market. A pullback from the recent level could further bring tension in the market when buying opportunities arise. It could reach up to 145 handles although, it might take some time to reach the said level.

GBP/USD Technical Analysis: June 27, 2017

The sterling pound broke higher during Monday opening and touched the 1.2750 region. A pulled back is done to some extent and eyes support around 1.27 mark. The market, in general, is moving sideways. This could be the scenario for this moment due to lots of concerns about the market, particularly with the British currency along with the negotiations between the European Union and the United Kingdom.

The market has many reasons to become volatile, hence, traders should be extra cautious. A break to the upside will drive the market near 1.28 handle, either way, a cut through on top of it would probably move the market towards the 1.30 area.

In the longer-term, there is a possibility to have a rally but the market should remain its choppiness so the opportunity to move near to the upside could often introduce itself.

At the end of the day, the market has the tendency to aim for the 1.3450 mark, however, it requires some momentum building to went through that range.

Reaching the target in the longer-term has to offer lots of opportunities to obtain short-term dips with value, as well as to acquire benefits from the hawkish tone of the Bank of England.

The market should keep on offering plenty of short-term trading, and maybe the ability to establish a certain type of core position.

The GBP is best in longer-term and it is still best for the pound to take the small position in order to steer clear from a severe dilemma.

EUR/GBP Technical Analysis: June 27, 2017

The Euro paired against the British pound broke in the channel underneath in the beginning of the Monday session. It gapped the 0.8770 region and rebounded towards the 0.88 level in the afternoon. If the price breaks over the peak for the range of the day, the next target would be at 0.8850 level.

The pair will presumably proceed with the long-term uptrend and if it breaks out to highs for the Monday session, the market could extend another 30 pips quickly. The long-term target would be at 0.90 and higher. Overall, there will be choppiness especially since it is the center of forex traders regarding the Brexit negotiation.

The pair is presently in a long-term uptrend. There will be support levels every so often that makes shorting a bit difficult to push through. A formation of a negative weekly candle would signal the chances for selling this pair since the market has been bullish for quite a long period of time. The uptrend will most likely be favored with the European Union leading against the United Kingdom.

Hence, to buy the dips would be the ideal thing to do and add later on in smaller trades. It accounts short-term trades to be more valuable. Overall, it is anticipated to have difficulty in trading this pair.

EUR/USD Fundamental Analysis: July 3, 2017



The EUR/USD slowed down this morning which anticipates a renewed week this Monday morning. As the week started, it established lots of consolidation, in general, and moving over the pairs while traders will go back to work after the weekend, preparing themselves for a fresh start.


It is expected for an interesting week since this is the first week of July and another month usually contains plenty of data from different countries. During the second half of the week, it is scheduled of many upcoming reports including the NFP and FOMC.

Since the US market has the most number of data to be issued within this week, the dollar is currently in the center of attention. While the market expects to witness some development in data.


The US statistics in the past few months were actually weak as the market assumed that the Federal Reserve will not increase rates last month. However, the Fed choose to continue their plan and ignored the sluggish data. But this time, when the data remained weak, further rate hike might not be possible to implement. As the focus turned to the US dollar, the single European currency let the dollar to take the drivers seat.


Apparently, the EUR is bullish followed by the increasing data within the euro region along with some strong implications regarding the QE tapering of the European Central Bank (ECB). Taking into account these data, the central bank might consider the tapering in a short while. This could also probably maintain a well bid position for the euro for this day and in the subsequent days.


The level around 1.0440 is possible to generate a strong resistance and was able to hold the price in the near-term. Ultimately, the ISM Manufacturing PMI data issued by the United States will set the week and consolidation should be expected, ranging from the pair on either side of the region 1.04 amid the day.

EUR/GBP Technical Analysis: July 05, 2017

The Euro against the British pound moved laterally during the Tuesday session as it moved to and fro in a calm trading environment. There is not much activity until a new headline has been release from Brexit negotiations that put uncertainty in the market influencing it to move in a single direction on either side.

The 0.88 level moves above the massive resistance and if the market breaks in the upper channel and closes it higher in the daily chart, the next target would be at 0.8875 level and above. However, if the reversal from breakdown from the 0.750 level then towards the 0.7 handle. This market is anticipated to have choppiness because of numerous pressure that affects both currencies.

There is a high level of risk in the market that brings in both buyers and sellers in the market after the reports from Brussels and London. This makes it difficult to hold long-term trades that is assumed to continue its movement in 50 pip increments which are what the market wants to benefit from those levels.

The short-term trading is currently in a fine condition but would be quite harder to hold either bought or sold positions. All things considered, it is best to move at a faster rate and heedful in trading. Small positions are more suitable to trade right now in this market since there is still uncertainty which will most likely continue in the succeeding months.

EUR/USD Fundamental Analysis: July 7, 2017

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

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

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

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

NZD/USD Technical Analysis: July 07, 2017

The New Zealand dollar had a volatility trading session on Thursday. It declined in the beginning but was able to recover those losses. Hereinafter, the price further decline breaking the 0.7250 psychological level. A significant support was found under the 0.72 handle.

In the current condition, it seems that there will be choppiness moving to and fro due to the jobs data which will have a bigger impact on the risk appetite and the U.S. dollar in overall.

There is massive resistance found beyond the 0.73 level and if the market successfully breaks this region, the price could go down towards the 0.7350 region. The volatility persists to be high driven by the least liquidity of the New Zealand dollar of all the major currencies globally.

Trading in small positions is the ideal strategy for this pair but the presence of an impulsive candle in the daily timeframe leastwise or if not, in the weekly time frame to have a serious money flow.

It would not be easy to trade the NZD/USD pair in any size so traders should be observant or wait on the sidelines until a clear hint was seen before jumping in the market. Short-term scalping here and now is the best that the market could offer as the Reserve Bank of New Zealand maintain its neutral stand when it comes to its monetary policies.