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EUR/USD Fundamental Analysis: January 20, 2017


The EUR/USD pair underwent a lot of volatility during yesterdays trading session after it initially plummeted to 1.0600 points for a short period but eventually climbed towards the higher trading regions and is now continuing to trade within these price highs. The euro currency is known for its resilience against the fluctuations of the USD, and while other currencies become adversely affected with the movement of the US dollar, the euro has always been able to counter these effects and the USD always finds it hard to oppose the movements of the EUR.


The ECB released its statement regarding the central banks rates yesterday which was immediately followed by a press conference, and Draghi had already stressed that the central bank is not very keen on minimizing the banks QE anytime soon. Moreover, Draghi also stated that the ECB chose not to act on the regions inflation issues since this was mainly caused by the surge in energy prices. This statement from the central bank stirred some concerns from market investors, therefore putting downward pressure on the EUR/USD pair and causing the currency pair to drop to 1.0600 for a brief period. However, the euro was again able to revert its losses during the North American trading session even though there was no actual reason behind the dollar weakness. The USD continues its losing for today and is expected to undergo more consolidation as the day progresses.


There are no scheduled economic data to be released from both the EU and the US for today, and as such, the current market trends are expected to be dominant in the financial market for today.

NZD/USD Technical Analysis: January 20, 2017

The Business PMI of New Zealand showed positive results, however, the data for the Building Permits posted negative figures. The commodity currency NZD got some support from the dynamic prices of oil. The recent data of the United States weighed on the kiwi.

The Asian recovery run out of steam subsequent to the 0.7200 level testing. The barrier seems hard to break. The NZD decline after it touched the level in the Asian hours and stayed under the resistance region during the EU session.

As shown in the 4-hour chart, the price remained on top of the moving averages yesterday. Both 100 and 50-EMAs directed an upward trajectory, the 200-EMA is neutral based on the mentioned timeframe. Resistance lies at 0.7200, support is found at 0.7150.

MACD grew less which showed some weakening on the buyers position. RSI headed northbound after it left the neutral territory.

Failure to reacquire 0.7200 will send the market some reversal. A steep breakout under 0.7150 could initiate an easing through 0.7100.

EUR/USD Technical Analysis: January 20, 2017

The ECB decided to keep its rate unchanged as the deposit rate maintained -0.4% and 0.0% for the interest. Meanwhile, the greenbacks stabilized on the back of the positive data in the US considering the Initial Claims for the number of jobless individuals is in the green and Housing Starts presented some solid figures. Investors are focused on the inauguration on Trump scheduled on Friday.

The downward momentum failed to hold 1.0650 as the sellers found a strong hurdle that pushed the pair upwards.

The single European currency was able to regain most of its losses that took place on Thursday. The price drove the 1.0650 level before the onset of EU session and continued to lead through 1.0700 region. On the other hand, the upward impetus lived shortly and the recovery slowed down on top of 1.0650. The pair were pulled lower by the renewed selling interest.

Moreover, the price broke 1.0650 and test the mark 1.0600 during the outset of American trades.

The EUR/USD showed a neutral-to-bullish position amid European hours. According to the 4-hour chart, the spot hovered above the moving averages. The 100-EMA cross above the 200-EMA. The 100 and 50-EMAs accelerated while the 200-day moving average is flat as shown in the same chart.

Resistance touched 1.0700 handle, support entered 1.0650 mark. The MACD indicator weakened along with the soft position of the buyers. RSI pierced through the neutral zone.

The pair appeared to bearish. In case a break occurred below 1.06550, a negative indication would rise and signaled for further risk easing of the EURUSD approaching 1.0600, ahead of the 1.0550 region.

EUR/USD Fundamental Analysis: January 23, 2017

The EUR/USD increased for the past few days following the sluggish stance of the greenbacks. The single European dollar benefited from the position of the greens as it climbs to 1.0700 and further extended its gains. The USD weakened with no definite reason as others deemed for the general correction while some claimed its all because of the skepticism for Trumps administration. However, the American currency is clearly at a disadvantage point against the euro.

The EUR is relatively buoyant for the previous week, much more when its U.S peer manifested some strength. The euro continued to bounce back from a limited correction and eventually broke the 1.0700 level, en route 1.0840 region.

There are some issues that the weakness are caused by the speech of Trump coupled with the curtailment for the rest of Obamacare. Moreover, there exist a general risk about the US Presidents team and their plans and these uncertainties weighed on the USD.

As the last week of January enters, the economic news is lessened while the upcoming is a beginning for the USD towards an unidentified state which brings higher volatility.

The US and Euroregion do not have major reports to be released for today, what we expect is the continuous fall of the greens.

 

EUR/USD Fundamental Analysis: January 24, 2017

The EUR/USD pair continues to exhibit a strong trading streak as the USD continues to lose its value. The USD has recently been showing weakness and has been consistently dropping in value in spite of initial expectations that the USD will be increasing in value. The market is still unsure on how to approach this recent activity from the USD, although the Fed has already announced that it will be hiking its interest rates at least 2-3 times for the rest of 2017. This particular bit of news should have created an upward support for the US dollar and should be good news for the US economy as well, but then again the Trump administration has just come in, and in terms of fiscal, trade, economic, and particularly foreign policies, the international market is still uncertain on Trumps stance, and this is why a lot of investors are still somewhat hesitant to invest in the reserve currency.

As a result, the EUR/USD pair is now about to enter a very critical region of 1.0800-1.0840 points and the market will be monitoring the currency pairs movement within this range, especially if the currency pair will be undergoing a major correction or otherwise.

For todays trading session, Germany and France will be releasing their respective PMI data, while the UK will be releasing today the SC ruling with regards to the countrys EU membership. This particular bit of news is expected to affect the UK economy as a whole, and will ultimately have an indirect impact on the direction of the euro. As the market is expected to be subject to heightened volatility in the coming days, traders are advised to ensure tight stop losses for their trades.

AUD/USD Technical Analysis: January 24, 2017

Donald Trumps program for the economic stimulus lacks clarity which considered to be the reason for the softening of the US dollar. Moreover, the positive sentiment prevailed on the commodities, particularly on Copper by which demand had surged for the Australian dollar on Monday.

The AUDUSD is confined in the short-term ascending channel trading within its recent highs yesterday. The price was able to expand its buying momentum during the morning trades. The AUD pushed the 0.7550 level amid Asian hours and posted its daily high at the mark 0.7575.

The spot decreased eventually and turn back to 0.7500 handle.

As shown in the 1-hour chart, the price lead the 50-EMA downwards and test the 100-EMA, the entire moving averages headed higher. Resistance lies at 0.7600, support sits in the 0.7550 region.

The MACD histogram showed some weakness against the position of the buyers after it decreased. The RSI hovered around the overvalued territory near the neutral zone.

According to the 4-hour chart, technicals signaled an upward expansion. The first bullish target is probably the 0.7600 barrier. If this point were reached, there would be another extension through the 0.7650 mark.

AUD/USD Fundamental Analysis: January 24, 2017

The Australian dollar was not that affected by the final decision of the new president, Donald Trump, to draw back from the Trans-Pacific-Partnership on Monday. This could be because the price set into the market soon after the results of the U.S. Presidential election has been released months ago or simply because the investors are neutral and plays indifferent from the outcome.

Other than the TPP deal, Trump has also mentioned imposition of border tax for corporate businesses that becomes a threat to those who moved out of U.S. for production.

Another concern is the remarks of Steven Mnuchin to retaliate the currency manipulation and the strengthening of greenback that may affect the economy negatively. Most especially the short-term trading may be heavily influenced since the value of U.S. dollar is relative to the condition of U.S. economy and confidence of investors in America.

On the other hand, the Australian dollar appreciated in the midst of weaker U.S. dollar. The pair closed at .7583 with an increment of 0.0031 equivalent to 0.40%. This may persist for some to me and boosted for short-term with the current mindset of Trump. Trading activity on Monday demonstrates the goal of Trump to weaken the greenback which would in turn increase the competition in the U.S. market including both good and services. Hence, it can be postulated that a trade war may occur and the same time the traders already anticipate high volatility in the market for this year. This is highly possible for countries to want to go against the greenback.

As for major economic data, the latest quarterly Australian Consumer Inflation are soon to be released with Economists expecting figures of 0.7 percent headline inflation and 0.5 percent core inflation.

GBP/USD Fundamental Analysis: January 25, 2017

The international market has been awaiting with bated breath the results of the Supreme Court ruling of UKs eurozone membership. The SC eventually ruled that Theresa May and the UK government will have to pursue the approval of the Parliament before Article 50 can be invoked, but then the ruling did not seek for the approval of Ireland, Wales, and Scotland for Article 50. This bit of news was already expected by the market since the SC merely reiterated the previous ruling of the lower court.

While the ruling from the SC was generally good news for the market as well as for the sterling pound, a sell the fact, buy the rumor move was seen in the market yesterday and the GBP/USD pair plummeted through 1.2500 and even hit 1.2420 points after the SC ruling was released into the market. But the currency pair was able to recover from its losses and is now situated just below 1.2550 points, with the GBP/USD pair possibly moving further to 1.2700 and possibly even up to 1.2800 points. While this move might be good news for the sterling pound in the short term, its long term effects could induce additional pressure on the GBP in the medium term.

There are no major economic data scheduled to be released from the UK for todays session, but the US will be releasing its oil inventory data which could possibly increase the overall risk surrounding the markets as of present. The GBP/USD pair is expected to experience more consolidation for today with bullish undertones.

NZD/USD Technical Analysis: January 25, 2017
As the Asian session emerged, the bullish momentum appeared to be short-lived yesterday. The price failed to hold its gains and reversed down from the 0.7250 level. Sellers expanded their profits breaking the price through 0.7200 region amid the EU trades. The selling interest was unable to maintain its position upon reaching the region and endured price rejection upwards.
The NZD/USD is confined on top of the moving averages based on the 4-hour chart. The 100 and 50-EMA kept its bullish stance while 200-EMA was flat. Resistance touched 0.7250 mark, support entered 0.7200 handle.
The MACD tool still presented the same position as buyers strength continued to grow. The RSI settled close to the oversold readings, confirming another lower trend.
Meanwhile, the 0.7250 barrier is the next bullish target. In case, a return occurred towards 0.7150 there is a probable decline against the 0.7100 support.

GBP/USD Fundamental Analysis: January 26, 2017

The sterling pound has been consistently increasing in value after a period of constant downward pressure ever since the conclusion of the Brexit vote. From trading to just below 1.2000 points, the GBP/USD pair has now recovered and has reached just below 1.2700 points without any significant corrections during the past few weeks. This was partly due to the clearing up of the Brexit process, as the market does not like any kind of uncertainty, whether on a positive note or a negative note.

The initial confusion surrounding the Brexit process had previously put downward pressure on the movement of the sterling pound, but as Theresa May finally laid out her plans for the hard Brexit process last week including a wholly different kind of negotiations on the free tradezone, this has lended some much-needed support for the sterling pound. In addition, the UK Supreme Court has also made it clear that the Parliament must approve first before the invocation of Article 50, thereby ensuring stability during the entirety of the Brexit process. All these have erased any uncertainty on the Brexit process and has caused the GBP/USD to jump upwards and steadily go towards the 1.2700-1.2800 region.

UK will be releasing its Preliminary GDP data today and this particular bit of data is expected to carry out the recent string of positive economic readings for the region in spite of the pressure from the Brexit process. The GBP/USD pair could then propel its way towards 1.2700 and could possibly exceed this level which could then become a crucial point for the bears and bulls of this currency pair.

GBP/USD Technical Analysis: January 26, 2017
The UK CBI Industrial Trends Orders increased as the new year enters which provided decent support for the GBPUSD. Meanwhile, many investors weigh up to the remarks of Mark Carney. The GDP of the United Kingdom for the fourth quarter is highly anticipated by the market as traders expects for a modest decline.
The cable maintained a rangebound position during the morning trades on Wednesday. The price currently trades in a tight range near 1.2500. The renewed buying impetus pushed the pair through 1.2600 level succeeding the opening of London session. The spot resumed its development above the moving averages based on the 4-hour chart. The 50-EMA crossed over the 100-EMA upwards and both moving averages employ an ascending trend, while the 200-EMA headed downwards. Resistance touched 1.2600, support reached 1.2500 mark.
The MACD still sits on the same area which favored strength for the buyers. RSI consolidated in the overvalued zone confirming a new higher move.
The bearish outlook will be preserved in order to lead risks downwards to 1.2400 for the upcoming weeks. Moreover, the price sustained its bullish slope. The pair is bound to move closer to the 1.2700 range but the spot are compelled to take out 1.2600 first so as to renew the bullishness.

AUD/USD Technical Analysis: January 26, 2017


The AUD/USD declined on Wednesdays trading session. The price stayed giving enough support at 0.75 and below. Although, it was able to reverse forming a bullish candle and it seems that the uptrend will persist towards the 0.7750 level. Yet, signs of breakdown would not be good but it needs to align with the downtrend of the gold market. With a lot of noise present in the lower channel, traders should expect high volatility in the market.


The market continues to be actively traded during the London Trading session. The Short-Term Interest Rate Trading (STIRT) market seems to be surprised with all the speculations intervening the market. The near-term trading may be favorable for equities and commodity markets with chances for higher returns but not active for the currencies. Moreover, the outcome of trading in Dow index overnight with the retreat of copper from a 19-month high that capped the near-term drop and its oversupply. Relying on the surged of the price, the Aussie will continue to attract investor for the near-term trading while the downtrend of the greenback continues.

GBP/USD Fundamental Analysis: January 30, 2017

The GBP/USD pair was able to regain its footing and erase all the losses it had incurred during the latter part of last week. Although the increase in the value of the sterling pound was mainly because of the actual pound strength and not because of any drop in the value of the USD, the movement of the GBP was largely influenced by the stance of the US dollar. The US dollar has been relatively weak today and this has caused the GBP to increase in value and trade just below 1.2600, where it could possibly increase further in value.

The drop in the dollars value was mostly due to Trumps policies, which did not sit well with majority of citizens as well as some members of the financial market. In addition, Trumps attempts to alter trade agreements has already concerned quite a number of government leaders and it has already been clear that Trumps recent movements are not to the best of interest of everyone involved in these issues. This has then prompted a drop in the USDs value, and has set out the ground for the recovery of the sterling pound.

There are no major news releases scheduled for today, although the US will be releasing a string of highly important economic data for this week. The GBP/USD pair is most likely to trade with a bullish tone for todays sessions.

USD/JPY Fundamental Analysis: January 30, 2017

The USD/JPY pair was subject to high volatility last week, but the price action of the currency pair was practically the same since the currency pair merely reflected the range during the past week. However, in spite of this marked stagnancy, the market was still able to post gains during the past week. The USD/JPY pair closed down the previous trading week at 115.047 points after increasing by 0.514 points or +0.45%.

For this week, the Bank of Japan is set to release its Monetary Policy statement, the BoJ, Policy Rate, and the BoJ Outlook Report. Investors are expecting that the Japanese central bank will be maintaining its current monetary policy and will be doing the same for its interest rates, which presently stands at -0.10%. In addition, the central bank would also likely say that its current outlook for the Japanese economy is positive and that it expects its national economy to continue its steady improvement.

Meanwhile, the Federal Reserve is also expected to maintain its current benchmark interest rate but could also leave out hints with regards to the timing of its interest rate hikes in the future. Market traders are anticipating that the Fed would release its opinions on President Trumps recent slew of executive decisions during his first week in office and what these executive orders mean for the central banks decisions in the future.

The US will also be releasing its Non-Farm Payrolls report this week and is expected to show that the US economy increased jobs by 170,000 for January, although unemployment rates remain stagnant at 4.7%. Average Hourly Earnings for US will also be released this week and is expected to have a reading of 0.3%.

GBP/USD Technical Analysis: January 30, 2017

The sterling softened on the back of the demand growth for the greenbacks. The GBPUSD was able to recover few of its losses subsequent to the meeting between Trump and May. The US data showed some pessimism which further hit the pair higher.

The British currency lose its value against its U.S peer during the night trades on Thursday. The spot were removed from 1.2600 level and placed in 1.2500 region amid Asian session. The pound extend its losses during EU hours, en route 1.2500. However, the level stalled the sellers progress and kicked the spot higher. The price resumed its development on top of the moving averages as shown in the 4-hour chart while the 100 and 50-EMAs stirred upwards and the 200-EMA sits in the neutral position. Resistance touched 1.2600, support jump in the 1.2500 mark. The MACD histogram weakened which further slowed down buyers position. The RSI escaped from the overvalued territory and came in through the neutral zone.

The bullish outlook generally exist in the market while the pair got an opportunity to make recovery in case it surpassed 1.2600. A breakout within the 1.2600 handle would direct to 1.2700. Furthermore, the prevailing selling pressure could impact the spot and pushed below the mark 1.2500.

AUD/USD Technical Analysis: January 30, 2017

The AUD/USD pair closed lower at .7546 with an increase of 0.0014 or 10.78% on Friday since the release of economic data of Australian Consumer Inflation report that pulled down the U.S. dollar higher than what was expected in the last quarter in 2016. This could prompt the central bank to reduce its benchmark interest rate for this year.

There are no major Economic news from Australia to be released today but several data are scheduled to published from U.S. such as Core PCE Price Index, Personal spending, Personal Income, Pending Home Sales and Loan Officer survey later in the afternoon GMT time.

The main trend is heading upward in the daily chart but there is not enough momentum as the price reversed as it reached the .7608 level on Tuesday last week. However if the trade continues above the said level, it is possible for the upsurge to continue and establish .7511 as a new trading floor The trading range swayed between .7777 and .7159 levels with retracement levels from .7541 to .7468 area. The market extend across this range giving an upside tone with the retracement levels as support levels.

The near-term range lies within the .7159 to .7608 level. If the market reached the .7383 to .7330 area proceeding its reversal trend, this becomes the next floor target as it closes with a bearish tone.

The trading closed at 0.7546 on Friday and the next direction of the pair will depend on traders activity with Fibonacci level at 0.7541. If the current trend prolonged, this implies the strong stance of buyers leading the market. The followed uptrend with the possible resistance levels at .7568, .7588 with the last level to reach at .7598 before the highest level at .7608 mark. If it skips the .7608 level, the uptrend may continue towards the next target at .7639 level giving a bullish tone to the market.

However, if the price maintained lower than the .7608 level moving across the .7528 downtrend angle, indicating sellers dominating the market. It could go much lower towards the .7468 level. This could induce the market to jump towards the .7399 ad .7384 as the next support range. Overall, the price trend for this pair will depend on the market reaction to .7541 level to determine whether buyer or sellers will dominate the price for this day.

EUR/USD Fundamental Analysis: January 30, 2017

The Euro has recovered this morning trading amid the high risk and uncertainty in the market that has also affected the U.S. dollars. It seems that the current global condition reverses where that safe haven assets such as dollar and gold as seen as a go-to investment because of its stability but this is not happening. The greenback gives off high risk with market concerns on the changes in U.S. policies while yen and gold gain with risk off sentiment of the traders.

Change in U.S. administration following Trumps inauguration and its team looks into update of campaign promises such as modification of Obamacare, immigration rules in wholesalers and muslim ban and other migrants making it difficult for them to come back in the country attracted public controversy. The stand of the U.S. who is aiming for a renegotiation of NAFTA and other trade agreements, is significant in the global trading swaying the balance in trades where some leaders had dissatisfaction where this is heading. This has increased the uncertainty on what will happen in the next 4 years altering U.S. policies and influencing market sentiment that drags the dollar down while the pair gains from it.

With the recent Chinese New Year holiday, there is no new major economic news expected to be released today. Hence, the market is in consolidation while later on, market should expect high volatility with the release of economic data in the middle to later of the week. The U.S. dollar may continue to weaken for some time while the EUR/USD pair would remain in consolidation state with a tone of bullishness.

GBP/USD Fundamental Analysis: January 31, 2017

The GBP/USD pairs activity has been very disappointing during the past 24 hours, which could be largely due to the fact that the market is nearing the end of the month. Towards the end of every month, the UK government is required to pay its membership fees to the European Union, and this usually amounts to 1 billion euros, and this usually induces volatility in the movement of the sterling pound. These monthly dues from the UK are usually masked by the banks which process these transactions, but these show more often than not, and this contributes to the drop in the value of the GBP.

Market analysts have constantly saying that the direction of the sterling pound would most likely be influenced by the Brexit process, and this has been already seen with the increased pressure on the GBP/USD pair. This particular pressure on the pound is expected to continue until such time that the Brexit process is finally completed, and this is also the reason why the pound climbed up to trading highs near 1.2700 but eventually corrected and is now expected to hit 1.2300 points in the short term. The GBP will remain to be one of the weaker currencies, and although there might be a few intermittent reversions at the expense of the dollar weakness, these are not expected to follow through in the long term.

There are no major news releases from the UK set to be released today but the US will be releasing its consumer confidence data. Month end flows are expected to come in today as this is the last day of the month, and traders are advised to take the necessary precautions to protect themselves from the onslaught of additional volatility today.

USD/CAD Technical Analysis: January 31, 2017

Many investors await for the release of GDP scheduled tomorrow. Meanwhile, the decline in oil prices shocked the commodity currencies including the Canadian dollar. Moreover, the terrorist attack on the Quebec mosque last Sunday further made a slight impact against the Loonie.

Meanwhile, the greens resumed its short-term bullish signal on Monday and it resumed to climb higher subsequent to a short period of consolidation amid Asian hours. The USDCAD strengthen during the earlier trades in Europe and advance to 1.3190. But the upside impetus stalled at 1.3158 level where the major stayed prior to the opening of NA session.

The spot is confined under the moving averages as indicated in the 4-hour chart. The 50-EMA made an upward crossover to the 100-EMA. The 50 and 200 EMA are neutral while 100-EMA en route lower. Resistance entered 1.3190 level, support plunge in at 1.3120.

The MACD increased which signaled sluggish stance for sellers. RSI lies around the neutral territory.

The 1.3120 support region paid attention by the market. A gap within this region would open an opportunity for the 1.3090 range, lowering to 1.3050.

EUR/USD Technical Analysis: January 31, 2017

The single European currency takes no attention to the upbeat of Spains GDP and it continued to weaken on Monday. The markets await for the impending meeting of the ECB while there are speculations the Consumer Price Index would be in the green.

The EURUSD break upwards in the daily open yesterday. The price reaches the region 1.0700 up to 1.0740 amid Asian hours.

The negative stance of the dollar was reversed as the Asian session took place. Bullish investors were unable to resume their gains as they decided to give way to the sellers. While the bears managed to lead the spot towards 1.0700. Before the opening of the New York trades, a renewed selling interest developed.

The pair made an even break downwards and touched 1.0650 level. The price pushed the 50-EMA lower while the 100-EMA was tested as indicated in the 4-hour chart during the middle session of Europe. The 100 and 50-EMA directed upwards, 200-EMA is flat. Resistance is mentioned at 1.0700 region, support is shown at 1.0650 handle.

The MACD lies at the middle point. Should the indicator arrive in the positive zone will indicate added strength for the buyers, however, an entry through the negative territory will signal sellers ability to dominate the market. RSI comes in the neutral zone, en route southwards.

It is recommended for the 1.0750 resistance to test again prior to the pairs rally as it approaches 1.8000 range. But the spot might change and it becomes bearish for this moment. If the price focuses on the mark below 1.0650, the 1.0550 level is possible to open.

EUR/USD Fundamental Analysis: February 2, 2017

The EUR/USD pairs strong stance for the whole month of January was mostly due to dollar weakness as a result of Trumps recent policies and brash sentiments which has affected the countrys economy. The market initially had a positive outlook for the US dollar after the Fed hinted at additional rate hikes in the coming months, however they failed to consider the Trump administrations ability to have a major effect on the world economy.

Immediately after Donald Trump assumed office, his administration already made on good on his campaign policies such as building a Mexican border wall and implementing an immigration ban in the US, which has sparked outrage among several world leaders and US citizens. His team also made major changes in Obamacare and has also proceeded to ban immigrants from certain Muslim countries. This has caused widespread concern in the market and has led to dollar sell-offs and has enabled the EUR/USD pair to close down the month of January near the critical resistance barrier of 1.0800 points.

For the month of February, there is an expected onslaught of major economic data to be released which includes the FOMC minutes meeting and the NFP data from the US, but the market is most likely to put more emphasis on Trumps governance and his future implementing policies. The euro might eventually crack and plummet once the dollar regains its footing and starts going back up, with the euro possibly returning to its monthly lows last December.

NZD/USD Technical Analysis: February 2, 2017

The Bank of New Zealand disclosed a mixed data as of yesterday. Meanwhile, the Jobless Rate came in negative. The Employment Change matched the expectations and the Participation Rate increased. The bulls continued to handle the market. The NZD continued to reverse its Tuesdays low seen at 0.7250 and made a minor reversal in the mid-EU session. The spot nearly touched 0.7300 upon the easing of buying pressure. The price rebounded in the 100-EMA shown in the 1-hour chart. The spot is sandwiched between the 50 and 100-EMAS. The moving averages preserved its bullishness mentioned in the same chart.

Resistance is at 0.7300, support is at 0.7250 range. The MACD is trading on the upside. The RSI lies around the neutral territory. According to the 4-hour chart, a bullish sentiment dominated the market. A break on top of 0.7300 would suggests an increase through 0.7350.

EUR/USD Technical Analysis: February 2, 2017

The American dollar remained in the pressured area on the back of the remarks made by the trade advisor of D.Trump, accusing the countries China, Germany and Japan about exploitation over undervalued currencies.

Moreover, the single European currency obtained support from the positive figures of inflation within the euro region. The investors currently awaits for the Fed meeting.

The ascending trend of EURUSD remained unchanged on Wednesday. The euro kept intact versus its U.S rival following the rally during the morning trades on Tuesday. The buyers have consolidated their gains as it grasp the spot in the flat trend under the level 1.0800. The price pushed the 50-EMA towards a higher point as seen in the 4-hour chart. The spot is confined overhead the moving averages. The 50 and 100-EMAs preserved a bullish stance while 200-EMA was in the flat lining. Resistance approached 1.0800, support hit 1.0750 mark.

The MACD increased which signaled buyers strength. RSI stayed in the overvalued territory after it left the neutral zone.

The bulls were able to lead the overall mark. We will impose a buy order in case the pair made a breakout near the 1.8000 resistance level. A close on top of the barrier will generate gain through 1.07500. Furthermore, the hawkish comments of Yellen could possibly bring back the sellers to the market. The most possible scenario is a dipped on the lower point of 1.0750.