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Post Info TOPIC: Daily Market Analysis by ForexMart


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Daily Market Analysis by ForexMart



EUR/USD Fundamental Analysis: January 9, 2017



The EUR/USD pair traded in a muted fashion and exhibited ranging and consolidation after falling slightly from its original value following the release of the NFP report as well as US earnings report last Friday. The NFP report fell somewhat short of its initial market expectations. However, the US wage earnings increased significantly, thereby compelling the market to shift its focus instead on the wage earnings data.

The January report for the average wages data has spelled good news for the market, since it generally shows that more and more people are now able to sustain themselves, and would still be able to do so even if the Federal Reserve chooses to again increase its interest rates as needed. This has caused the USD to regain its losses, with the EUR/USD pair losing its ability to maintain its stance over 1.0600 points and has since then went below 1.0550, where it is still currently situated. Analysts are speculating that the strength of the USD would continue to surge for todays trading session.

There are no major economic news releases expected from both the US and the European Union for today, and this means that the current market trends are expected to continue dominating the economy for today. The USD is expected to continue storming through the EUR/USD pairs trading activity for today, even though this particular currency has exhibited unwavering strength over the past few days. This currency is expected to remain subjected to downward pressure for the rest of todays session, and this could possibly induce the pairs direction to move towards 1.0500 points.

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NZD/USD Technical Analysis: January 9, 2016


The kiwi expand its recovery against its U.S peer during the middle session of Asia. Meanwhile, the NZD/USD is unable to move further the 0.7050 level and bounce back after it touched the aforesaid level.

During the EU session, the pair remained in a tight range that lies in the middle of 0.7000 and 0.7030. Another session of selling interest drove the New Zealand dollar downwards prior to the opening of the NY trades.

The price had a steep decline towards the 0.7000 range and extended its losses. According in the 4-hour chart, the price pushed the 50 and 100-EMAs higher and the 200-EMA was tested. It continued to struggle together with the neutral 200-EMA in the course of the EU hours. Moreover, the 50-EMA ascended, at the same time the 100-EMA moved southwards. Resistance touched the 0.7050, support is seen at 0.7000.

The indicators en route north around the bullish zone. The MACD histogram increased, favoring buyers strength. The RSI lies in overvalued territory.
The technical represents a bullish momentum. A The technical picture presents a bullish tone. A rapid price decline on top of the 0.7050 impedes the increase within the 0.7100 resistance level.


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GBP/USD Technical Analysis: January 9, 2017


There is no major economic news anticipated in the United Kingdom last Friday. While the data from U.S affected the market as traders awaits for the figures of trade balance and labor data.


After it reached the 1.2430 level in the Asian session, the GBP/USD weakened and shifted downside. The British currency returned to the support region 1.2400 where it met a stable support during the morning trades.
The cable pair extremely toggles in a narrow range amid EU session waiting for a renewed stimulus. Furthermore, a selling interest arises before the onset of the NY trades as it pushed the pair downwards.


As shown in the 4-hour chart, the price drove the 50 and 100-EMAs higher. The pair remained in the middle of the neutralize 200-EMA and bearish 100-EMA in the earlier trading. Resistance entered the 1.2400, support touched the 1.2300 region.


The technicals had a moderate reversal from the overbought zone. The MACD indicator traded in the downside. The RSI stayed around the overvalued readings.


In case the GBPUSD breakout within the 1.2400 resistance level upon the establishing of buy orders, the price recovery may extend through the marks 1.2450 and 1.2500. However, a negative signal and further risk easing would emerge when a movement push through the 1.23 level. Furthermore, sellers were able to send the pair towards 1.2200.

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EUR/USD Technical Analysis: January 9, 2017


The unfavorable data in the Euro region stall the activities of the buyers last Friday. As the German Factory Orders together with the Retail sales resulted to a weaker than expected statistics. The market is expecting for the release of US NFP figures today which is predicted to earn 180K.


The bullish sentiment prevailed in the market since Friday. Buyers found a hurdle around 1.0600 thus they are forced to return. The major pair slowed down amid the Asian trade and struggled to retake the level. The EUR/USD moved lower as the renewed selling pressure surpass the pair prior to the opening of the New York session.


According to the 4-hour chart, the price advances its development on top of the moving averages. The MAs are trending mixed as the 50-EMA took an upward direction while 100 and 200-EMAs headed lower.


The technical picture resumed ploying northwards around the positive zone. The MACD increased which confirmed strength for the buyers. The RSI oscillator hovered in the overvalued area.


The major currency pair is able to regain the bullish momentum if it continues its recovery expansion through the 1.0650 and 1.0700 regions. Moreover, the positive NFP report would likely strengthen the U.S dollar, otherwise, weighed over the single European currency. In such case, the pair will turn to the downside and decline towards the 1.0450 mark.


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USD/JPY Technical Analysis: January 9, 2017



The pair moves with an overall bullish tone. It will remain bullish unless the price moves beyond the current trend line. Its current recovery momentum from the 115.00 psychological level on Friday Asian trading session last week. The greenback was able to recover its losses after it rebounded above the 116.00 hurdle. Gains of buyers expanded as the price moved higher than the North American Trading session.

The said momentum during the Asian Trading session halted at 116.37 level while greenback retreated later back to 116.00 level. The Resistance level is seen at 116.00 level while the support level posited at 115.00 mark. The psychological level rebounded in 200-EMA while the 50-EMA was seen to cross the 1-00-EMA in the chart as both do downwards. The MACD goes higher implying the sellers position to be dominated by the buyers while the RSI maintained its oversold readings.

The U.S. dollar recovered its momentum as it weakened since the risks encountered after Trump threatened Toyota Motor Corp. when the intention to construct a facility in Mexico. If the price moved lower than the 115.00 mark this indicates a strong dominance of sellers in the market. The opportunity for the price to reach the 114.00 mark in short-term cannot be ascertained. However, if the pair continues its uptrend, the current resistance level could even go higher towards the 117.00 mark.


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USD/CAD Technical Analysis: January 9, 2017

The USD/CAD pair declined on Friday but was able to reach strong support to recover and form a hammer pattern. This gives a strong indication of bullishness in the market and signalling a turnaround soon as it moves in an upward direction in the upper channel. If the oil market also increases then this could affect the price to further go up towards the 1.35 handle or even higher. However, a break lower than the current uptrend line indicates a pessimistic trend.


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EUR/GBP Technical Analysis: January 9, 2017


The pair EUR/GBP surged on Friday last week with a bullish tone. Higher than the 0.87 level forms a resistance level which is now the next target of traders. Any price surge seen in the trend opens a selling opportunity for the market but if the price breaks at 0.87 handle then the price could further go up. Traders should look for exhaustive candle indication yet the market is quite subtle currently. Nevertheless, it is already anticipated for the volatility of the market to be more active.


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AUD/USD Fundamental Analysis: January 10, 2017


The recent drop in the value of the US dollar proved to be good news for the Australian dollar, as this provided substantial support for the AUD during the previous trading session. In spite of the fact that the previous sessions were mostly made up of high bottoms and tops, the Australian dollar was still generally able to maintain its standing on the positive side of the chart. The AUD/USD pair closed down the previous trading session at 0.7353 points after increasing by +0.82% or 0.0060 points.


A number of Australian economic data was released during Mondays trading session, with the Building Approvals data coming in at a positive 7.0% reading and the Australian retail sales data coming in at a somewhat dismal reading of 0.2% after failing to meet market expectations of 0.4%. Meanwhile, the US Labor Market Conditions Index dropped by 0.3 points, while the Consumer Credit data surged by 24.5 billion from its previous reading of 18.3 billion.


The AUD/USD pair will be starting off todays trading session within a somewhat critical range within 0.7341 to 0.7385 points. If the currency pair moves just underneath 0.7341, then this will be an indicator of a larger selling pressure than buying pressure at the present levels of the pair. Since there are no expected economic news releases from the region for today, traders are most likely to focus on external events and its effect on the USD and subsequently, on its effect on the AUD. The US dollar could lose its appeal as an asset if oil prices drop further which will cause US Treasury yields to fall as well.

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GBP/USD Fundamental Analysis: January 10, 2017
The sterling pound continued its weak trading activity during yesterdays session as the fears and confusion surrounding the Brexit process as well as other such concerns continue to weigh down on the GBP, a trend which has been going on for the past weeks. The GBP/USD pair was unable to increase in value in spite of the marked dollar weakness during the previous trading session. Market analysts are speculating that the currency pair is currently locked within a highly bearish stance and could possibly incur more losses in the coming days.
Stock prices fell yesterday due to uncertainties surrounding the current position of commodity prices, particularly crude oil prices, as well as Brexit-related concerns. A lot of traders and investors are saying that the market might be well-headed for a hard Brexit, which means that the negotiations between UK leaders and EU officials might prove to be much harder than expected, and also implies that the UK might be unable to obtain free market zone access to the rest of the European Union once they formally leave the eurozone. In addition, Scotland seems to be taking measures to leave the UK in protest to Brexit, which means that the sterling pound is more likely to decrease further in value.
For todays session, the current market trends are expected to continue since there are no scheduled releases from the UK and the US. The sterling pound is still expected to fail to bounce back from its recent low levels due to the various negative economic factors which continue to affect the state of the pound.


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EUR/USD Fundamental Analysis: January 10, 2017


The EUR/USD pair exhibited bullish stances during yesterdays trading session. The US has recently released its average wages data as well as its employment reports data, both of which turned out to be highly satisfactory particularly for investors. This set of data has then set the tone for the markets movements this week. The USD has increased significantly in value as opposed to the EUR, but the EUR/USD pair was able to counter this movement and instead consolidated during the Tokyo and European trading sessions. The currency pair was able to break through 1.0580 from 1.0520 during the North American session before finally settling just below 1.0600 points.


The USD received little support from comments from Fed officials yesterday, which turned out to be hawkish. The currency pair is now back to trading near its weekly highs last week, a crucial position for both the USD and the EUR. The dollar will most likely be able to regain its strength if the EUR/USD experiences a breakdown. However, if the EUR is able to go beyond 1.0600 and possibly reach 1.0650 points, then the euro could increase in value, thereby putting the US dollar in negative territory. A number of large-scale banks and hedge funds are expecting the USD to regain its strength anytime soon since the fundamentals are all pointing towards a higher value for the USD. However, the dollar bulls must be able to obtain the right timing in order for the USD to strengthen further.
Todays trading session is most likely to be dominated by the recent market trends as there are no major news releases expected from both the US and the European Union. The pricing of the USD is closely monitored by the market since this could be a catalyst on whether the stock market will be pushing through their bullish direction or consolidate instead.


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USD/CAD Technical Analysis: January 10, 2017

The commodity-linked Canadian currency moved back as the dollar strengthened and oil prices declined. A bearish bias prevailed on Monday. The price tried to recover however, the 1.3260 hurdle prevents it to continue.

Upon reaching the aforementioned level, the greenbacks rebounded from the barrier and progress towards the 1.3190 region afterward.

The price continued to develop under the moving averages as indicated in the 4-hour chart. Shown in the same trading chart, the 50-EMA extended over the 100-EMA downwards. Moreover, the 50 and 200-EMAs maintained a lower position while the 100-EMA held an upward direction. Resistance lies at 1.3260, support entered the 1.3190. The MACD indicators improved which confirmed weak sellers position. RSI hovered in the oversold readings.

The bearish sentiment is preferable to dominate as of now, another downtrend is further expected. The next target of the sellers are 1.3120 and 1.3190. The USD/CAD is able to bounce off its losses supposing that it breaks the 1.3260 handle upwards so it can reached the 1.3330 region.


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GBP/USD Technical Analysis: January 10, 2017


As the week starts, the British currency was marked red. The GBP/USD softened due to rising concerns about Hard-Brexit. However, the price index of Halifax provided minor support for the pound because the House Prices published a higher than expected results. Meanwhile, sellers consistently manage the overall market on Monday.

The sterling had a downward price break during the daily trades opening as it promptly spread its weakness until the 1.2200 level.

After the pair reached the level, the pressured area continued to fade while the pair advance towards the consolidation phase. However, the consolidation was short-lived making another bout of selling pressure which drove the Cable to the 1.2100 area.

A downward momentum further faded with some pips on top of the 1.2200 handle after it touched the 1.2123 mark, the price rebounded and lessened the amount of their losses.

The 1-hour chart showed that the sterling lead the moving averages towards a lower point, seeing the 50-EMA descended while 200 and 100-EMAs are trending flat. Resistance took the 1.2200 range, support entered the 1.2100.

The MACD indicator jumps into the negative zone. In case the histogram hovered in the negative territory, sellers will strengthen. The RSI stay close to the oversold condition, indicating another lower movement.

As shown in the 4-hour chart, the bearish bias will prevail. Sellers were able to come at 1.2100 level in the near-term, heading to 1.2000. There is still a possibility for the GBPUSD to make an attempt in reclaiming the resistance regions 1.2200 1.2230.

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EUR/USD Technical Analysis: January 10, 2017


The European region presented data of mixed type yesterday as Germanys Industrial Production did not meet the expected results, on the other hand, the trade balance beef up. Whereas, the EUs jobless rate published consistent statistics. These events caused traders to quit buying the euro and focus to the U.S dollar instead.


A short period of consolidation in the Asian session was followed by another round of attempt to recover the 1.1050 during the EU trades. The buyers had a tough battle around this level earlier, however, they were unable to reclaim it.
The EUR/USD run into the downside pressure and continued to move through the 1.0500 area in the middle session of Europe.


According to the 4-hour chart, the price pushed the 200-EMA downwards and jump near the 100-EMA, both exponential moving averages remained to be bearish and the 50-EMA ascended. Resistance is seen at 1.0550, support is found at the 1.0500 level.


The MACD histogram loses edge which confirmed weaker position for the buyers. The RSI oscillator stayed in the neutral zone.
We further support for a short-term bearish tone. The next target of the major pair sits below the 1.0500 mark, most likely the support levels 1.0400 and 1.0450.


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USD/CAD Fundamental Analysis: January 12, 2017


The USD/CAD pair exhibited additional corrections during yesterdays trading sessions as the US dollar weakened significantly following the press conference of president-elect Donald Trump. The market initially expected Trump to give hints on his proposed economic, fiscal, and monetary policies but instead disappointed market players after he merely talked about his personal interests and his business enemies. This then caused the dismal drop in the value of the dollar. The stock market was able to recover slightly towards the end of the session, but the same could not be said for the US dollar.


As oil prices managed to regain its losses during yesterdays session, this has proved to be good news for the Canadian dollar since this lended the CAD some much-needed support and has triggered the USD/CAD pair to reach just under 1.3200 before settling to 1.3150 points. The economic news release from Canada came out better than what the market expected, and since oil prices are now looking good, these are expected to provide susbstantial support for the CAD in the long run. The USD/CAD pair could possibly test the 1.3000 level due to the recent weakness in the USD


For todays session, there are no major releases from the Canadian economy but we have the unemployment claims data from the US which will be released during the North American trading session. However, the most dominant market trend today would most likely still be the effects of the recently concluded press conference, and this is why the pair is possibly up for more weakness and volatility for today.


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GBP/USD Fundamental Analysis: January 12, 2017


The US dollar took the spotlight yesterday as the market reacted wildly to Donald Trumps press conference during the latter part of the New York trading session. The market was initially subdued during the London and Tokyo trading sessions since the market was generally looking forward to gauge Trumps demeanor, as well as to decipher his administrations plans for the next 4 years and to see whether Trump will actually be pushing through with his proposed policies during his campaign.


However, Trump went in for a very disappointing run as he displayed his usual tactlessness and brashness and even highlighted his desire to build a Mexican border within two years. This move was wholly unexpected by the market, and this caused the USD to crash and plummet across the board. The GBP/USD pair, which has been languishing in the bottom rungs of the market for the past 2 months, was able to immediately recover its losses and was able to push through 1.2200 points and even reached 1.2250 before finally settling at just under 1.2200 points.


Since there are no major news releases expected from the UK for today, the previous market trend is expected to dominate todays trading sessions. The bulls could possibly profit from a solid upward move from the GBP/USD pair if the pound would be able to break through 1.2300. Otherwise, the currency pair could be merely subject to short-term corrections.


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EUR/USD Fundamental Analysis: January 12, 2017


Yesterdays trading session proved to be very stressful for both investors and traders alike. However, during the Tokyo and European trading sessions, the EUR/USD pair still underwent ranging and consolidation without any definite direction as the market generally waited for Trumps press conference statement during the New York trading session. But as the press conference began, chaos within the market ensued as the majority of currency prices exhibited extreme volatility, with both the shorts and longs being subject to extreme pressure.


One of the reasons why the market kept a close watch on this particular conference is in order to see whether Trump would become diplomatic with regards to his policy approaches or if he would still stick to his brash attitude. However, once the conference started, it became clear that Trump had not changed one bit after he merely talked about his personal interests and his opponents rather than actual policies which would be of use to US as a nation.


The USD initially increased in value prior to the said press conference as the market anticipated Trumps move, but as the president-elects stance became clear, the USD eventually plummeted, leaving room for the EUR/USD pair to recover some of its recent losses in value and was able to go to just above 1.0600 points. If the EUR/USD pair maintains its bullishness, then the currency pair could possibly break through 1.0600 points. Otherwise, the pair could be subject to more ranging and consolidation for todays trading session.


The US is scheduled to release its unemployment claims data, but the USD will still be reeling from the negative effects of Trumps conference and could possibly drop to 1.0700 points.


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NZD/USD Technical Analysis: January 12, 2017


Oil prices further weakened which weighed on commodity-linked currencies including the kiwi. The NZD/USD declined as the dollar remained stronger. However, the pair established a positive stance on Wednesday. Due to the overnight rebound the New Zealand dollar is able to left the red. It further broke the 0.7000 region amid Asian hours, en route 0.7050 during EU trades.


The upward trajectory become weaker. Having posted its daily high at 0.7020 the NZD entered the 0.7000 region. According to the 4-hour chart, the price is sandwiched in the 200 and 50-EMAs. The 50-EMA headed northbound as it cross the 100-EMA upwards. Both 100 and the 200-EMAs were trending flat as indicated in the same timeframe. Resistance jump in at 0.7000, support approached the 0.6950 level.


The MACD histogram keep trading in the downside. The RSI indicator rejected the overvalued readings and pierced the neutral zone.
The NZDUSD is expected to go back to 0.6950 support level in the near-term. In line with this, the spot will remain to dwindle through 0.6900.


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EUR/USD Technical Analysis: January 12, 2017


During the trades on Wednesday, the single European currency became bearish. Both U.S and EU calendar appeared to be facile. While most of the investors focused on the speech of US President Donald Trump.


Moreover, the euro continued its downward trajectory yesterday. Traders broke the price towards 1.0500 where the EURUSD generated a near-term consolidation period amid the morning trades. The pair met some fresh offers in the EU opening, however, continued to fall off eventually.


Sellers were pushed under the 1.0550, euro stalled at the 1.0500 level.
The price lead the 200-EMA downwards and 50-EMA are being tested as shown in the 4-hour chart. The 200 and 100-EMAs are currently flat while the 50-EMA climb higher. Resistance reached the 1.0550 area, support lies at 1.0500.


The MACD histogram declined which confirmed weak stance for the buyers. The RSI oscillator departed from the undervalued territory, en route south afterward.
Forecasts says the near-term selling interest will continue to sit tight. In case a breakout occurred within the 1.0500 range, it would bring sellers next target at 1.0400 and 1.0450.


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GBP/USD Fundamental Analysis: January 13, 2017
In spite of the fact that the GBP/USD pair was able to extend its gains towards 1.2300 as it tried finishing off the previous trading session on a much higher note, the sterling pounds price movement was still unable to instill enough confidence into the pairs bulls. The marked weakness in the value of the dollar was able to help the currency pair to reach 1.2300 points but is still currently in danger of dropping down to 1.2200 points.
The recent movements of the GBP/USD pair was more of a result of the USDs drop in value than the pounds strength, since the GBP would most likely be unable to sustain its gains from the dollar weakness. This means that the GBP could possibly decrease in value once the dollar recovers from its slump. Other currency pairs were able to hold fast to gains against the USD weakness unlike the sterling pound, and this should be taken into account by sterling pound bulls.
Traders are presently expressing their concerns with regards to the confusion stemming from the Brexit process, and with the sterling pound looking well on its way down, this could compel the bears to push down the pricing of the pound further whenever a bounce in the GBP/USD pair becomes imminent. There are no major news releases from the UK, but the retail sales data as well as the CPI data from the US could become determinants of whether the USD would be able to regain its footing in the financial market.


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USD/CAD Fundamental Analysis: January 13, 2017

Market analysts had previously stated that if the USD continues to weaken across the board during the next trading sessions, then the USD/CAD pair could be well on its way towards 1.3000, and this was what exactly happened during yesterdays session after the USD/CAD managed to reach 1.3000 and even briefly settled over 1.3000 as the USD continued to drop in value while oil prices managed to maintain its current stance.

However, during the early parts of the session, the USD regain a small amount of its previous strength while the market expressed concerns with regards to the lack of execution in the agreed oil production cuts, and this has reined in the strength of the USD/CAD pair. These factors has caused the currency pair to rise up to 1.3100 before finally settling just below 1.3150 points. Moreover, since the USD/CAD has recently been subject to large-scale buys every time the currency pairs value falls, the market is generally expecting that the USD/CAD could possibly reach the market target of 1.4000 points

The US will be releasing its CPI data and retail sales data today, while there are no major news releases from the Canadian economy for todays trading session. This two sets of data will be closely watched by the market, since a positive data reading will increase the chances of a Fed rate hike in the short-term, and this could also help the USD to further recover from its losses as seen earlier today.

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EUR/USD Fundamental Analysis: January 13, 2017


The euro increased its trading value during the previous trading sessions after it finally mustered the strength to break away from its limited trading range. However, the USD remains affected by the disappointment brought about by Trumps recent press conference and has continued to weaken across the board yesterday. This has then caused the EUR/USD pair to reach 1.0600 points, the same region which the pair has been previously finding hard to break through during the past sessions, and as a result, traders have been closely monitoring whether the EUR/USD would manage to break through this time. After a short stagnant period, the EUR/USD pair finally managed to go beyond 1.0600 and even went up to 1.0685 as the USD continued its losing streak.


It is important to note that the weak USD was solely the result of Trumps press conference and was not backed by any economic data from the US. This shows just how disappointed the market is with Trump, as a lot of market players were expecting him to outline his policies for the next four years but instead got the opposite. There is now growing talks within the market that Trump might not be good for the markets and the financial industry after all, and this has triggered corrections in both the USD and the US stock market. However, the dollar was able to reclaim some of its losses during the earlier part of the session, which caused the pair to drop back to 1.0600 points.


The US will be releasing its PPI data as well as its retail sales data for today, and the market is hoping that these would come out as positive in order to at least increase the chances of a Fed rate hike in the very near future in order to offset the dismal performance of the US dollar. However, if the data comes out as negative, then this would minimize the chances of a rate hike and could cause the EUR/USD to surge to 1.0700 as the dollar further weakens in value.


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EUR/USD Technical Analysis: January 13, 2017


The single European currency stalled its development even though the data from the Euroland showed positive results as the Consumer Price Index satisfied traders predictions. While the EU statistics for industrial production exceeded the expectation of traders.


Moreover, the EUR expanded its short-term upward momentum during the morning trades yesterday. It further broke the 1.0600 level in the Asian hours and moved towards 1.0650 eventually.


The EURUSD approached the 1.0650 barrier in the post-EU opening and promptly turned back under the broken level. The pair significantly increased however lost its ground when the price failed to recover 1.0650.


The price stayed on top of the moving averages shown in the 4-hour chart. The 50 and 100-EMAs climb higher while 200-EMA is neutral. Resistance pierced through the 1.0650 region, support touched the 1.0600 handle. The MACD increased which implied strength for the buyers. RSI oscillator ceded from neutral territory, en route north.


The technicals presented a bullish tone and anticipated for a correction inclined to profit taking which could emerge shortly after the spot plunge below the 1.0600 area. If the price seized 1.0550, a move below the level will cause for the present buying sentiment to neutralize.

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USD/JPY Technical Analysis: January 13, 2017

The Japanese yen appreciated driven by the speech given by President-elect Donald Trump although he did not give any specific answers about his economic plans. Nevertheless, the Japanese current figures exceeded the expectation supporting the currency.

The U.S. dollar sustained its selloff on Thursday after period of tension pushing the Gopher to move lower up to 115.00 level. This is followed by the decline of greenback towards the the 114.00 level during the European morning trading session. Yet, the sellers was not successful to recover the price but still attempted to go beyond the psychological level before the opening of the New York trading session. The Resistance level sited at 115.00 while the support level come sin at 114.00 level.

The Moving Averages chart is seen to move downward.The MACD histogram declined implying that sellers lead the market while the RSI stayed within the oversold area following the downtrend. If the price did not exceed the price lower than the 114.00 level but moves towards the 115.00 level instead, this could mean gains for the traders. If this current trend continues then the next target will be 113.00 level for the sellers.

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NZD/USD Technical Analysis: January 13, 2017
The pair NZD/USD broker higher on Thursday that is currently trying to test the significant resistance. If the price broke higher than the red Moving Average, this will be an opportunity for long term position for buyers. On the other hand a downtrend line should not be neglected. If the price breaks higher than the range of levels, the market could push this higher towards the 0.73 level. Traders should take note of an exhaustive candle as this signifies an opportunity to sell.


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USD/CAD Technical Analysis: January 13, 2017
The USD/CAD pair slumped up to 1.30 handle on Thursday. Later on, the market was able to reverse forming a massive hammer pattern. If the price breaks higher than the top of the hammer, this would signal a bullish tone and could continue to move in the upper channel. However, if the price breaks lower than the 1.30 level then would mean a bearish tone in the market. Nevertheless, the market will remain volatile with a choppy sentiment due to market uncertainty.


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USD/JPY Technical Analysis: January 16, 2017

The USD has attempted to regain its losses against the Japanese yen during the previous trading session as the market went unaffected by a slew of highly positive economic data from China, namely Exports and Imports data, as well as the Chinese Trade Balance data. During the Tokyo trading session last Friday, the USD was able to regain its upward balance following its recent decline, while buyer strength manifested positive bid stances which caused the pair to exceed 115.00 points prior to the opening of the North American session. But this upward movement eventually lost its momentum which then caused the USD/JPY pair to drop back to lower than 115.00 points. Traders also induced the currency pair to drop further to 114.00 points during the middle of the New York trading session. The USD/JPY pair was able to test the 50 EMA in the hourly chart. Resistance levels for the USD/JPY is situated at 115.00, while support levels are expected to be at 114.00 points.

 

For the next trading session, the USD/JPY pair could possibly decrease further in value and could hit 114.00 up to 113.00 points unless buyer strength could help the currency pair to consolidate just above 116.00 points.



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GBP/USD Technical Analysis: January 16, 2017


The USD regained its previous losses following the release of a highly positive Producer Price Index data, while the sterling pound dropped in value as a response to dollar strength and the recent uncertainties surrounding the Brexit process. The GBP/USD pair lost its momentum as it reached over 1.2100 during the early trading sessions last Friday. As the European trading session opened, the pound regained its losses and buyers induced the pricing of the currency pair to increase and reach 1.2200 points during the European session. However, the pairs momentum faded almost immediately afterwards, with the GBP extending its losses up to 1.2118 points.

The moving averages for the currency pair were all able to sustain its bearish stance, and resistance levels for the GBP/USD pair are expected to be at 1.2200 points. Meanwhile, support levels are expected to be at 1.2100 points. The GBP/USD pair could revert back its losses if it manages to regain its strength at the 1.2200 trading range. If the currency pair will be able to exceed this particular value, then this could cause the bulls for the currency pair to drive the value of the pair towards 1.2300. On the other hand, if the pair drops and moves toward 1.2100, then this means that seller strength will be returning and will cause the pairs price to plummet further towards 1.2000 points.

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EUR/USD Technical Analysis: January 16, 2017


The release of economic data from the US last Friday lended some much needed support for the US dollar. The retail sales data dropped in value and failed to meet market expectations, while the data for the Producer Price Index came out on a highly positive note and exceeded market expectations. Meanwhile, the EUR continued to incur losses in spite of upbeat data coming from the European Union, such as the German Wholesale Price Index as well as the Spanish Consumer Price Index.


The euro tried climbing up during Fridays session but was able to regain its upward bias during the Tokyo session after euro sellers encountered a price barrier at 1.0600 which then caused the EUR to drop in value. As the London session commenced, the EUR/USD pair rose and hit 1.0650 points, with the euro regaining all of its previous losses during the opening of the North American trading session. The price of the currency pair continued its climb and exceeded its moving averages as seen in the 4-hour chart. The 50 and 100 EMAs are currently pointing in an upward direction, while the 200 EMA stayed within neutral territory. Support levels for the EUR/USD are projected to be at 1.0600, while resistance levels are expected to be at 1.0650 points.


If the EUR/USD pair is unable to exceed 1.0650, then this could cause selling interest for the pair to return. However, if the pair drops and breaks through 1.0600 points, then traders are advised to monitor 1.0550 and 1.0500 points. The EUR/USD will only be able to recover if it is able to sustain its stance at 1.0650 points.

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USD/CAD Fundamental Analysis: January 16, 2017


The USD/CAD remained to trade close on its range lows on the back of the dollars strength recovery. While the prices of oil appeared to have an optimistic result which assisted the CAD keep in the short term.


The pair plunge under the 1.3100 level following the extensive weakening of the dollar, however, it immediately found buying pressure which supported the pair to return on top of 1.3100.
Over the past few months, the USDCAD showed a consistent uptrend and every correction met a prompt and strong bounce which seems to be repetitive. The way towards the 1.400 medium target suggest a slow progress and the main uptrend supported the bulls to purchase every correction.


Recently, the pair have acquired more buyers and there are banks that started to advise their clients regarding the 1.40 target.
The strong Canadian data with a weak economy of the country is the reason why traders are directed to maintain a hard clean break under 1.3000 which signals that an uptrend has ended.


There are no major economic data from Canada for this day since it was a bank holiday in the United States. It is further expected for a consolidation and ranging close to the range lows today.

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EUR/USD Fundamental Analysis: January 17, 2017


The EUR/USD pair traded weakly during the previous trading session with the weak euro having more effect on the currency pair than the recent dollar weakness. The international economy is now very concerned with UKs hard Brexit process, since this could spell disaster not only for UK but also for countries within the eurozone. Although the hard Brexit could have less negative effects for the UK, this could instead affect EU countries since most of them are doing business with UK, and the removal of a free trade zone with UK and the rest of the EU could become very disastrous for a lot of EU countries.


This was one of the reasons why the EUR/USD pair corrected largely during yesterdays session and plummeted down to 1.0600 points yesterday and even went lower for some time. The currency pair could have experienced much larger corrections if not for the US bank holiday yesterday.


For todays trading session, there are no important economic data coming from the eurozone but Theresa May will be speaking during the New York session with regards to the guidelines of the expected hard Brexit. Mays speech could have a negative effect on the value of the euro and traders are expected to take extra caution when it comes to trading with this particular currency pair.

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GBP/USD Fundamental Analysis: January 17, 2017


The GBP/USD pair has been on the verge of breaking down for the entirety of last weeks trading sessions, but the dollar weakness was able to provide some sort of cushion for the weakness in the sterling pound. However, due to the sterling pounds weakness, the market is expecting the currency pair to bowl over anytime soon, and this was what happened during the weekend and reached up until yesterdays trading session. Although the GBP was able to reach over 1.2300 points last week, it dropped in value almost immediately and closed down last weeks trading sessions within the pairs trading lows.


As the UK prepares for an oncoming hard Brexit, the nations economy is expected to immediately feel the repercussions of this particular move since the UK could either lose access to the EU free market or pay a hefty sum every time the country requests for access to the European free market. This has then caused the GBP/USD pair to decrease dramatically in value, with the currency pair even testing 1.2000 for a brief period of time, and although the currency pair has managed to somewhat revert from this particular loss, its weakness is still very pronounced and could continue for the next trading sessions.


UK PM Theresa May is set to make a speech today with regards to the steps which will need to be taken for the Brexit process to push through and just how hard it will be for the nation to manage to fully exit from the European Union. The sterling pound is then expected to exhibit a very negative trading stance and could even trade at 1.1700 points.

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USD/CAD Fundamental Analysis: January 17, 2017


The USD/CAD pair spent the majority of yesterdays trading session consolidating and ranging. The currency pair exhibited an upward trend yesterday due to a US market holiday, which helped prop up the Canadian dollar. In spite of an imminent concern in the international market, the USD/CAD was unaffected for the most part since oil prices were unaffected as well, and this provided a buffer for the currency pair.


The market has been saying for the past few sessions that the USD/CAD pair that this pair is mostly up for a generally upward trading direction, and this streak could only be broken if the currency pair breaks through the 1.3000 region. This could only be triggered if the dollar strength returns, which has been markedly absent over the past few days. The Canadian economic data could also prove to be very crucial with regards to the movement of the pair. Market players had been generally expecting negative data readings from Canada due to lowering oil prices, but so far the market has been getting nothing but highly positive data from the region. This has lended much-needed support for the Canadian dollar but has also prevented the currency from making any progress as compared with other currencies.


The Canadian economy is not scheduled to release any economic data for today but the US Treasury Secretary is set to make a statement during the North American session, and this could induce some volatility in the USD/CAD pair. The USD/CAD pair is expected to undergo additional consolidation paired with a bullish bias.

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NZD/USD Technical Analysis: January 17, 2017

The New Zealand Dollar stepped back to the negative zone on Monday. The kiwi gaps lower amid the daily open. Meanwhile, buyers successfully wiped out all its losses and showed renewed gains pushing the price towards 0.7150.

Having touched the resistance, bulls failed to hold its upward trajectory and decided to pull out. Sellers were able to take the driver's seat and lead the price down to the 0.7100 region. After the handle were broke, the NZD weakened and headed to 0.7050.

As shown in the 4-hour chart, the price remained on top of the moving averages. The 100 and 50-EMAs climb higher while 200-EMA is neutral viewed in the same timeframe. Resistance touched 0.7150 mark, support entered 0.7050 range.

The MACD fell off which indicate softening positions for the buyers. RSI moved downwards.

It is recommended to be bearish as for now due to the possibility that the pair will attain 0.7050 region initially. The price expand its decline prior to 0.7000 target.

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GBP/USD Technical Analysis: January 17, 2017

The British currency reached its lowest level after three months yesterday. The pound slowed down prior to the speech of Theresa May for tomorrow. It is further expected that PM May will discuss the plans of the UK government in leaving the European Union.

The sterling gaps lower during the daily open on Monday. The price drop from 1.2184 to 1.1197 but it was able to make a minor reversal against its losses eventually.

The buyers drove the GBPUSD upwards and approached near the 1.2100 barrier amid the onset of the EU trades. Bulls were unable to regain the level and shrink away. The GBP fell under the moving averages according to in the 4-hour chart. Moving averages (50, 100 and 200) moved lower shown in the same trading chart. Resistance highlighted 1.2100 region, support lies at 1.2000 handle.

The MACD indicator dropped which favored strength for the sellers. RSI kept intact around the negative territory.

It is mentioned in the forecast the bearish tone will prevail based on the 4-hour chart. The cable is currently heading the immediate support close to 1.200 lev

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EUR/USD Technical Analysis: January 17, 2017

The single European currency received a minor support from the data of Trade Balance in the Euroland. Meanwhile, it is expected for the positive release of the January Economic sentiment from ZEW.

However, the euro had softened yesterday. The EUR/USD continued to be in the red even after the downward gap occurred. Sellers pushed the 1.0600 level prior the opening of the EU session. After sellers broke the level, they spread their gains as it pushes the spot through 1.0550.

Moreover, the pairs trajectory kept a favorable stance in spite of the current decline. The EUR hovered on top of the moving averages shown in the 4-hour chart. The 50-EMA cross upwards through the 200-EMA. The 50 and 100-EMAs moved northbound while the 200-EMA trended flat indicated in the same timeframe. Resistance entered the 1.0600 level, support plunge through the 1.0550 region.

The MACD indicator grew less which implied weak position for the buyers. RSI oscillator turns away from the overvalued zone and moved southwards.

According to forecasts, sellers are able to expand their gains in the near-term. The initial target of the sellers is 1.0550. A daily close lower than the handle will cause renewed selling pressure to the 1.0500 area.

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EUR/USD Fundamental Analysis: January 18, 2017

The EUR received a much-needed boost from yesterdays trading events, wherein the USD plummeted and weakened while the sterling pound regained its previous losses across the board. This has then caused the EUR/USD pair to break through the 1.0600 barrier after quite a time and even went up as high as 1.0700 points, where it traded momentarily before settling just below 1.0700 points.

In spite of the fact that Theresa May has indeed announced that the UK is headed for a hard Brexit process, the concerns surrounding this particular occurrence have somewhat diminished, prompting investors to pull out from the USD and onto high-risk areas such as the stock market. The US dollar has since then weakened, and the clarity of the Brexit process has helped in pushing the euro higher. Although the hard Brexit would most probably have an adverse effect on eurozone trades, the renewed clarity of the process has helped placate investors and has created upward support for the EUR/USD pair. The currency pair is now seen to possibly reach the 1.0850 trading region.

There are no major economic readings set to be released today from the eurozone, but the US will be releasing its Core CPI and CPI data during the New York session, and these will be closely monitored by investors since a string of good economic data could increase the chances of a Fed rate hike in the near future.

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GBP/USD Fundamental Analysis: January 18, 2017


The GBP/USD pair exhibited heightened volatility during the previous trading session as the dollar lost strength and the sterling pound regained much of its footing in the market. Theresa Mays speech yesterday helped in clearing up some of the murkier parts of the Brexit process, and this has helped in placating various investors and has minimized concerns surrounding the Brexit process, thereby increasing the value of the sterling pound. This has then prompted investors to pull out their funds from the USD, thereby causing the dollar to drop in value.


Theresa May has highlighted in her speech yesterday that the UK will indeed be going for a hard Brexit and will be eliminating any kind of access from the eurozone. However, the PM has reiterated that the UK government will be negotiating with eurozone leaders in order to have a different kind of trade relations with the European bloc. Since this has eliminated confusions surrounding Brexit matters, thereby increasing the pairs volatility levels. The GBP/USD pair initially dipped to 1.2015 points prior to Theresa Mays speech but quickly climbed up to a daily high of 1.2414 points.


However, there are still a handful of concerns surrounding the Brexit process, and the expected invocation of Article 50 is also seen as a possibly risk for the stance of the currency pair as well as the UK economy. As such, these are expected to continuously pressure the GBP in the next few days.
For todays session, UK will be releasing its claimant count change data as well as its average earnings data, while US will be releasing its CPI data later today. It remains to be seen whether these data sets would be continuing the string of good economic data during the past few days. If the UK data comes out as positive, then this push the pair upwards to 1.2500 points, although this might not be enough to actually push the currency pair beyond this particular barrier.


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USD/JPY Technical Analysis: January 18. 2017

The JPY increased significantly in value against the USD after the majority of investors fled the USD after Donald Trump expressed his concerns that the US dollar might be becoming too strong for the US economy to handle. The US 10-year Treasury Yields plummeted to 2.307% during the early hours of yesterdays trading session, possibly its lowest intraday levels since November 2016.

This has then lended support for the bears of the USD/JPY pair after the currency pair traded at the lower regions of 112.67 points before making a slight recovery. However, there came a slew of negative US data, such as the New York Empire State Manufacturing Index, which dropped to 6.5% from its previous reading of 9.0%.

This reading is indicative of slower business growth in the region for this month. Since the USD/JPY was able to extend over 114.00 points, the currency pair is more than ready to extend sideways.

The pairs 4-hour chart shows that its momentum indicator retains its bearish stance and is still within the negative side of the chart, while RSI indicators for the currency pair are pointing to the downside. The 100 SMA for the USD/JPY pair has also lowered significantly.

Support levels for the USD/JPY are expected to manifest at the 112.65 points, while resistance levels could possibly appear once the pair hits 113.35 points.

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USD/CAD Fundamental Analysis: January 18, 2017

The Prime Minister of UK, Theresa May laid out few ground rules yesterday regarding the possible flow of the Brexit process. Global risks were also expected to lessen and in whatever time it might occur, it will likely weigh on the dollar.

The greenbacks were seen to be on its weaker stance prior this event that will hit the currency much harder. This will caused for the USD/CAD to test 1.3000 over and over, there is also a sudden solid bounce upwards.

The USD continued to suffer from the drawbacks due to the risky environment from Trumps administration which continue to confuse traders and investors because of its vague plans.

Moreover, the expected thrice rate increase of the Fed will likely be supported by the dollar with the medium and long term, however the near-term risk that surround the new US government causes the dollar to soften.

Another test of lows is assumed to occur in case the Canadian data will present an optimistic result. Since the economic data from the region is relatively strong and identify whether this upbeat is from the BOC statement about rate policy or from the media conference of the BOC Governor.

Furthermore, the BOC is scheduled to hold its rate for today, in case the statement cam

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GBP/USD Technical Analysis: January 18, 2017

There are high expectations that the Jobless Rate and Average Earnings will present green figures. Yesterday, bulls were able to take the drivers seat in a moderate tone. The GBP/USD successfully fill the gap last Monday with the help of an extreme short-term rally.

The sterling pushed 1.2100 during the Asian hours and reached 1.2200 prior the opening session of Europe. The momentum of the pound became short-lived as the level were being tested. The price had tone down, however, continued to stick at the 1.2200 level. Meanwhile, the 4-hour chart presents the price escalated and test the 50-EMA. It continued to advance under the moving averages and resume to moved lower. The resistance hit the 1.2200 region, support is at 1.2100.

MACD strengthen which signaled weak position against the sellers. RSI stayed in a neutral stance.

Should the Cable close above 1.2200, a fresh bullish pressure is expected to see. While the daily close on top of 1.2200 bears further risk as the pair rise towards 1.2300. In case the barrier maintains the price, it has a tendency to be in the red again and renewed lows near 1.200.

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EUR/USD Technical Analysis: January 18, 2017

German economic sentiment did not meet investors outlook. Meanwhile, the market concentrates on the statistics of CPI from EU and Germany.

The pair resumed its short-term upward momentum yesterday. Bulls were able to dominate the market and drove the price higher amid the Asian session. The European currency rallied and take out 1.0650 in the middle Asian hours. The euro expanded its gains and touched 1.0700 level during the EU session.

The price rebounded in the 100-EMA and pass over the 50-EMA upwards, it further settled on top of the moving averages with a bullish slope as indicated in the 1-hour chart. Resistance is seen at 1.0700, support jump in the 1.0650 region.

The MACD increased which favored strength for the buyers. RSI oscillator escaped from the neutral territory and turn back to the positive area.

The technicals displayed a bullish pattern. The EURUSD headed near its immediate resistance at 1.0700. The barrier broke the next level and fixates on 1.0750. We do not rule out the possible decline in profit taking subsequent to the rally took place on Tuesday. Sellers are also able to remove few of its losses if it pushed the price below 1.0650 region and advanced towards 1.0600.

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USD/CAD Technical Analysis: January 18, 2017

The greenback slumped on Tuesdays trading session testing at 1.30 level. The trend moves downward from 1.3598 level. If the downtrend holds the current resistance, then the downtrend could persist towards the next target at 1.2900 level. The strong resistance stands at 1.3189 level and and a break higher than this level completes the downtrend.

If the market could break lower, it is possible for the price to trade below the 1.30 handle. Oppositely, if the price breaks above the candle formed on Tuesday trading session, this could be a buying opportunity while hoping for the oil prices to decline. Yet, it seems that the sellers will sustain the current trend.

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EUR/USD Fundamental Analysis: January 19, 2017
 
    The US dollar finally regained the majority of its losses yesterday after the country released a series of positive economic data, as well as from a handful of fundamental adjustments which occurred in the country during the previous trading session. However, although the dollar strength has already returned, it remains to be seen whether this will eventually continue to become a long-term trend or merely dissipate as a short-term correction for the USD, and with Trumps inauguration tomorrow, the US dollar is in for some interesting movements in the future.
 
    The USD remained docile during the entirety of yesterdays Tokyo and European trading session. However, the EUR/USD failed to make significant developments after going through 1.0700 points since it was relying on economic data in order to make actual progress. The CPI data from the US was eventually released and met market expectations, inducing more upward pressure on the USD but was immediately lost in the face of increased volatility in the market. But the real game-changer was Yellens speech later in the day, wherein the Fed chair reiterated that if the slew of positive economic data from US continues, then the market could be in for another Fed rate hike anytime soon. This dollar-positive movement has then caused the EUR/USD pair to climb up to 1.0620 points and has now settled just above this particular region. The pair is expected to undergo more pressure as the dollar continues its winning streak across the board. 
 
    The ECB will be releasing its rate statement during todays trading session and will be subsequently followed by a press conference from the central bank. There are no changes expected from the ECB, however it is expected that the central bank would probably highlight its most recent achievements to the market audience. US will also be releasing the Philly Fed Index as well as the Unemployment Claims data, both of which are expected to increase volatility and lend additional support for the USD.
 


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GBP/USD Fundamental Analysis: January 19, 2017

The GBP/USD pair was unable to sustain its hold over 1.2400 points and eventually dropped to 1.2300 points, mostly due to the return of the dollars strength, which was expected by investors to come back anytime soon. The UK released a string of highly positive economic data yesterday, such as the average earnings data and the claimant count data. However, these were relatively minor data, and had little effect on the movement of the sterling pound. But it is important to note that in spite of the general uncertainties surrounding the Brexit process, UK still manages to release very positive economic data from their region.

The majority of market players instead chose to focus on economic data coming from the US, but the sterling pounds weakness had already taken effect during this time after receiving pressure from Yellens statement that the Fed could possibly go for another interest rate hike if the economic data from the US continues to be positive in the coming months. This has then caused the dollar to increase in value and has caused the currency pair to drop to 1.2300 points.

Market players are generally expecting that the GBP/USD pair will continue its losing streak, and since the dollar continues to strengthen, the currency pair could be in for more losses both in the short run and long run. There are no major data set to be released today from the UK, and with nothing to counter the movement of the USD, the currency is more likely to be subject to more downward pressure as the day progresses.

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AUD/USD Technical Analysis: January 19, 2017

The Australian Dollar presented some optimism compared with its U.S peer that receives support from the dynamic pricing of oil. The awaited data from the labour market is deemed to support the Aussie at the same time.

The tone of the market remains to be positive. The AUD/USD is confined on its 2-week highs near the 0.7550 level. The price hovered around a very tight range and tends to go into a lower position. The 4-hour chart showed the spot stick on top of the moving averages. The 100 and 50-EMAs preserved its bullish tone while 200-EMA is flat. Resistance hit 0.7550 mark, support is found at 0.7500 range.

MACD lied in the same level which confirmed buyers strength once again. The RSI is currently on the consolidation period and entered the overvalued zone.

Forecasts mentioned for a further short-term downward correction. In case the closing trades are set under 0.7750, the price will impose a sell signal. The possible target of the bears is 0.7500.

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GBP/USD Technical Analysis: January 19, 2017

Hard Brexit issues continued to affect the cable pair. The British currency weakened in spite of the upbeat in the labor market data as the unemployment stat maintained its rate and Claimant Count Change rose.

The sterling is in the red versus its American rival on Wednesday. The GBP/USD climb the edge of the overbought area and pointed downwards amid Asian hours. Sellers take out the 1.2400 level during the morning trades and tested the mark 1.2300 in the EU session. However, the mark stalled the progress of sellers. Having touched the level, the price reduced and stayed on top of the region prior to the onset of NY trading.

According to the 4-hour chart, spot bounced off to 200-EMA. The entire moving averages moved downwards. Resistance highlighted 1.2400 region, support entered 1.2300 area.

The MACD slowed down which favored sellers strength. RSI kept intact in the overbought zone.

Moreover, the 4-hour chart showed a prevailing bearish tone.The primary target 1.2200 showed some signs as it will be going short followed by the consolidation phase, the pair is expected to move ahead through 1.2100 handle.

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EUR/USD Technical Analysis: January 19, 2017
The American dollar was able to rub out its losses versus the euro prior to the speech of Yellen yesterday. The greens further acquired some support from the consumer price index of U.S which met the expectations of investors. Moreover, the decision of the ECB about its interest rate will be announced later this day.
The market structure remained to be bullish on Wednesday. The single European currency executed an upside impulse and return from its weekly high towards 1.0716.
The ongoing rebound is deemed to be corrective during the profit-taking behind the current rally. The EUR/USD retreated under the 1.0700 level amid morning trades on Wednesday and it hovered throughout the level as the EU session took place.
The 4-hour chart shows the price resumed its advancement on top of the moving averages. The 100 and 50-EMAs continued to be bullish while 200-EMA stayed on the neutral position shown in the same time chart. Resistance sits at 1.0700, support lies at 1.0650 region.
The MACD histogram falls which indicate weak position of the buyers. The RSI oscillator kept around the overvalued territory.
The pair is expected to moved near the immediate support 1.0650. In case the level breaks, the support will return to 1.0600. However, the EUR will receive short-term support as much as 1.0500 remained intact.


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EUR/JPY Technical Analysis: January 19, 2017
The EUR/JPY pair amped up for some time on yesterday morning indicating signs of steadiness in the market. This may not stay long and traders may face some roughness in trading as it reach below the 120 handle. Then, the buyers would lead the market.

After some days, the price could reach the 124 level again as the current 120 level could further go down towards the 118.50 level as long as the support holds. It is not recommended to sell the market as of now.


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NZD/USD Technical Analysis: January 19, 2017

The New Zealand dollar fell in the beginning of trading session on Wednesday. The market was able to reverse this and formed a hammer pattern in the charts. It seems very bullish and if the break is successful to break beyond the top of the hammer, the price could further go up towards the 0.73 level. Oppositely, if the price breaks lower at the bottom of the hammer then this indicates a negative sign towards the 0.71 handle. There is an inclination for the pair to reach the overbought area but it seems that the buyers are quite finished. Nevertheless, it is anticipated for a high volatility in the market.


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GBP/USD Fundamental Analysis: January 20, 2017

The GBP/USD pair spent the rest of yesterdays trading session consolidating amid a bullish bias as the dollars strength waxed and waned during the duration of yesterdays session. Since there were no major economic data coming from both the UK and US yesterday, the GBP/USD pair traded within a tight boundary in spite of the marked volatility from other currency pairs. This trend is expected to continue during todays session as the market looks for a definitive direction for the currency pair.

The US dollar as well as the sterling pound are both expected to undergo a period of heightened volatility and could go through significant changes for this year. This is because the newly-minted Trump administration could possibly usher in increased spending and infrastructures, along with a lot of concerns and uncertainties regarding the new administrations economic and fiscal policies, while the UK continues to struggle with issues surrounding the Brexit process. These events are expected to leave permanent effects on both currencies, and it will all depend on how both economies will be responding to these burgeoning changes in the future. However, one common thing that these two countries have is that both are exhibiting relatively good economic data, which is good news for long-term investors. But then again this does not remove the fact that both currencies will be highly volatile in the near future.

UK will be releasing its retail sales data during todays European session, with the market expecting the data to come out as generally positive in accordance to the recent trend of positive economic outputs from the region. The GBP/USD pair could possibly test the 1.2400 range if the retail sales data meets market expectations.

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