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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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

 

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.

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.

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.