SheldonThinks Forum

Members Login
Username 
 
Password 
    Remember Me  
Post Info TOPIC: Daily Market Analysis by ForexMart


Guru

Status: Offline
Posts: 918
Date:
Daily Market Analysis by ForexMart



EUR/GBP Technical Analysis: February 2, 2017

The EUR/GBP pair broke lower on Wednesdays trading session eliminating the bottom of the shooting star on Tuesday. If the price trend breaks at the 0.85 handle, giving signs of support that makes it a substantial price level for this pair. However, if the price breaks much lower at 0.8450 level, this signals the price to further go down. On the other hand, if the price rebounded or formed a supportive candle instead, then this could lead to consolidation of the price to toggle within a tight range.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/JPY Technical Analysis: February 2, 2017

The USD/JPY pair was still under pressure on Wednesday's Trading session after the greenback weakened against the yen on Tuesday. Overnight, the price stayed at 113.60 level prior the opening of European trading session. However, later during the mid trading session, a new selling pressure drove the price towards the 113.00 level. Bulls are fighting over it as they try to pull the positions higher than the 113.00 handle. The Resistance level is found at 114.00 while the Support level comes in at 113.00.

In the charts, the price maintained low in the 50-, 100- and 200-EMAs. The Moving Averages moves lower in the same charts. The MACD entered the negative zone and will most likely stay for some time as the sellers dominate the market. The RSI stayed in the Oversold territory making the price open to a new high.

The pair maintained its strong bearish tone open for new risks to go lower. It is probable to open for new lows while it is favorable for the price to drop lower than the 113.00 level. The next target of sellers is at 112.00 handle.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Fundamental Analysis: February 3, 2017

The market has been generally expecting the USD/CAD pair to undergo a period of ranging and consolidation as the US prepares to release its NFP report, and this was what happened with this particular currency pair during the past trading sessions. The USD/CAD is currently trading at over 1.3000 and is headed in a generally disappointing trading streak, but then again this region has strong support barriers, and this region might be a good place for traders to go long with a stop loss.

Oil prices have already settled down last month and has exhibited little activity on both directions. As a result, the Canadian dollar was able to obtain some support and the economic data scheduled to be released from Canada are also expected to be generally positive, and there are no major changes expected to occur within the Canadian economy. The drop in the value of the USD/CAD was mainly due to the weakness of the dollar, and once Trump makes major changes in the NAFTA agreement, then the trade relationship between US and Canada could be up for some major adjustments. This has no positive effect on both economies whatsoever, and this uncertainty has been fueling the drop in the value of the currency pair.

There are no major news expected to be released from the Canadian economy today but the market is expecting the release of the NFP report as well as the average earnings data and the non-manufacturing PMI data from the US. If these data comes out as positive, then this could further affirm an interest rate hike from the Fed in the near future, but a weak reading could cause the USD to further decrease in value.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Fundamental Analysis: February 3, 2017

The GBP/USD pair is currently trading at 1.2500 points after briefly reaching 1.2700 points after traders took sell opportunities every time the GBP/USD exhibited reversions. The Bank of England released its statement yesterday and maintained its current rates as expected, while the monetary policy meetings and inflation reports did not deliver anything significant to the economy and did not induce any market activity. However, these neutral readings had adversely affected the currency pair since the majority of market players were expecting hawkish comments from the BoE as well as from the inflation reports, but since both of these data came out as neutral, the market was generally disappointed and this put a significant amount of downward pressure on the value of the sterling pound. However, it was a good thing that the dollar was weak, since if the dollar were stronger then the pound might sink even lower.

The pound is expected to continue its losing streak, and any reversions are expected to be met with major sell-offs, especially with the oncoming volatility which will be caused by the implementation of the Brexit process. For todays session, UK will be releasing its services PMI data and US will be releasing its NFP reports and wage earnings data. These string of economic readings set to be released today are expected to increase the pairs volatility. The market is expecting a positive US labor report, and if this happens, then the GBP/USD pair might be able to break through 1.2500 and move further towards 1.2400 points.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:



EUR/USD Fundamental Analysis: February 3, 2017

The EUR/USD pair has been subject to a lot of messy trading activity during the past trading sessions as the pair had no definite direction and generally exhibited an uncertain trading stance. The currency pair has been vainly trying to break through the 1.0800 trading range and briefly made it through this barrier and even reached up to 1.0828 points but eventually reverted back to its original stance after a massive sell-off met the pair, causing it to fall back to 1.0800 and even went as low as just over 1.0760 points.

Today is the scheduled release date of the NFP report from the US, and the market volatility is expected to surge as this particular report is one of the major economic reports anticipated by the markets every month. The NFP report now is even more crucial than ever, because the Fed has previously stated that the central bank will be relying on positive economic data as basis for whether they will be hiking interest rates in the future or otherwise. In addition, the release of the NFP report is equally important to restore investor and trader confidence in the USD, especially since the past few days has seen the dollar subject to more weakness as Trump drew negative comments from his recently implemented foreign policies such as the immigration ban. This is one of the reasons why the general direction of the EUR/USD remains uncertain since the market wants first to confirm the results of the NFP report before making any concrete moves.

For todays session, US will be releasing its NFP report as well as the non-manufacturing PMI data and average wage earnings data. Investors are hoping that these economic data comes out as positive in order to induce some strength in the ever-weakening stance of the US dollar.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:

USD/CAD Technical Analysis: February 3, 2017
The USDCAD presented a downbeat data on Thursday. Sellers were able to pushed the spot downwards over the night. The pair moves beyond the area 1.3050 and proceeds in the 1.2980 handle where the greens established a decent support. Having reached the level, the pair rebounded and made a gradual increase. Moreover, the price hovered down the moving averages shown in the 4-hour chart. The 50-EMA had an upward crossover towards the 100-EMA. Moving averages preserved a bearish stance mentioned within the same chart. Resistance is seen at 1.3050, support sits at 1.2980. MACD histogram grew which provided strength for the sellers. RSI is confined in the oversold zone following its escape from the neutral readings.
The market is dominated by a bearish trend. A break in the 1.2980 support may cause for the pair to fall and reach a new level at 1.2910.


__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Technical Analysis: February 3, 2017

The Bank of England remained steady at 0.25% as of the previous day. The decision made by the regulators weakened the British currency while the pessimistic data from the PMI Construction further created more pressure.

The strengthening of the greenbacks felt across the board which provided support for the GBP/USD to attain a renewed multi-month highs last Wednesday.

The Cable resumed its development overnight and found a hurdle in the 1.2700 region and the sterling moves closer to the barrier during the morning trades. On one side, investors supposed that the pair lacks some reason for a hike up. The major had a sharp decline through 1.2600 mark prior to the New York open. The pair is kept intact overhead of the moving averages viewed in the 4-hour chart. The 100 and 50-EMAs moved northbound while 200-EMA was flat. Resistance is at 1.2600, support touched 1.2500. MACD increased which signaled strength for the buyers. RSI stayed around the overvalued territory.

The technicals in the 4-hour chart favored an extension upward. The GBPUSD is expected to preserve its bullishness in order to gain 1.2800 region following the break of 1.2700 level. Failure to post renewed gains could push the pound to endure a short-term bearish correction

through 1.2600 and 1.2500.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Technical Analysis: February 3, 2017

The single European currency got some support from the decline of Spains Unemployment Change and it further benefited from the retracement of US dollar. Investor keeps their focus on Draghis announcement took place on Thursday.

The euro came in green versus its U.S rival and resumed its bullishness eventually. Traders drove the price to 1.0800 during the Asian hours and lead the level in the post-EU opening. The price rebounded in the 50-EMA as seen in the 4-hour chart. The EUR/USD progress on top of the moving averages. According to the 4-hour chart, the 50, 100 and 200-EMAs en route upwards. Resistance touched 1.0850, support entered 1.0800. The MACD is viewed as bullish and confined in the positive zone. The RSI consolidated in the overvalued territory and headed higher.

Based on the forecast, the EUR may obtain a bullish momentum granting that it hovered above 1.0800 resistance region. In line with this, the pair could expand its development towards the mark 1.8050. Sellers should lead below the area 1.0700 in to help ease the pressure while the 1.0600 handle manage to control.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


NZD/USD Technical Analysis: February 3, 2017

The Kiwi against greenback trades with high volatility on Thursday trading session. The 0.7350 level stands as a minor resistance but levels below the 0.72 mark also gives support for the pair. For now, it is good to wait on the sidelines until the price breaks higher than the Resistance levels or to drop lower from the support to be more certain which seems about to happen today as the U.S. Nonfarm payrolls are about to be released.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/GBP Technical Analysis: February 3, 2017

The EUR/GBP pair sits atop the 0.85 level that seems to be a strong support to form a bullish candle pattern. This signals the price could further go up which is favorable for buyers but there might be choppiness to linger in the upper channel. It may not be wise to sell the pair with 0.85 and below being a strong support but if the price breaks lower than the 0.8450 level, the pair could reverse and becomes a downtrend.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/JPY Technical Analysis: February 3, 2017

The Euppy pair has been on a correction since last month in 2016 inducing high volatility in the market. Most of major economic events affect the Japanese yen with monetary policy statements and policy rates remain the same unlike in Euro. The BOJ is scheduled to have a meeting today which is described to be favorable for the yen against Euro in the succeeding trading days.

The Retails sales report for Euro is expected to have a result as much as 0.03% which is significantly greater than the former -0.04% while the Italian Preliminary CPI is anticipated to incur 0.02% less than the former 0.04%.

There is a high volatility present for the pair ranging between the 122.070 and 120.90 levels with false breakouts implying the uncertainty in the market. This cause indecisiveness even to bulls with impulsiveness of the bears taking over the market as it breaks lower than the 120.90 level. It is anticipated to close lower than the target towards the 118.50 level which is a probable strong support for the price after reaching the 120.90 level.

Despite its fall on Thursday, there seems to have a strong support which is around 120 handle that makes it highly plausible for the buyers to take over again the market. Hence, it is favorable to trade long positions but traders should be cautioned of choppiness in the market. Overall, if the price remains strong within the upper channel, then there would not much be of a problem and keep the pair steadfast.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/JPY Fundamental Analysis: February 6, 2017

The USD/JPY pair attempted to rally several times during the past week due to the positive feel of the US equity markets as well as its effect on the US carry trade but there was a shortage of buyers which could have fueled an upside follow-through. The USD/JPY pair finished the previous trading session at 112.551 points after dropping by -2.17% or 2.496 points. This movement in the currency pair was largely due to Trumps comments in the past week as well as statements coming from both the Fed and the BoJ.

The FOMC maintained its current rates last week at 0.50%-0.75% and was generally expected by the majority of market players, but the bearish tone of the USD/JPY pair was also largely influenced by the Feds refusal to give out hints with regards to its next interest rate hike.

There are no major news releases coming from either Japan or US for this week, and this means that the market will be affected by events that will have a bearing on the current stance of the US dollar. Currently, Trump is aiming for a weaker USD value in order for him to upgrade his statements with regards to currency devaluations and other unfair trade policies. The charts are indicating that the USD/JPY pair could possibly rise up to 109.919 points if sellers of the pair would be able to put enough pressure on the market to march through 112.00 points.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Fundamental Analysis: February 6, 2017
The GBP/USD pair has been entrapped in a wide range of 400-500 pips during the past few weeks in spite of the fact that the bulls should be well-fed due to the recent strength exhibited by the sterling pound. Unlike other major currencies, which perished instantly the minute the USD showed signs of weakness, the GBP was able to keep its head above water by some sheer innate force present within the value of the sterling pound.
The market is now getting closer and closer to the invocation date of Article 50, which will then commence the start of the Brexit process, and a lot of market players are very thankful that the workings of the Brexit process are now becoming clear as the invocation date draws nearer. This might not be entirely good news, but at the very least this clarity would lend some sense of direction especially for GBP/USD traders. This is one of the reasons why the sterling pound is doing relatively well against other major currencies who are bearing the brunt of the USDs weakness. The GBP/USD pair briefly traded within its range highs but eventually dropped and closed last weeks session at 1.2500 points and could possibly weaken further although there might be some minor bounces at 1.2400 or 1.2300 points. Any large corrections within this particular currency pair would probably lead to selloffs since the UKs economic fundamentals are still looking very positive as of the moment.
UK will be releasing its manufacturing production data this week, and the GBP/USD pair would most likely drop further towards 1.2400 and could even become weaker and reach 1.2300 where a reversion is expected in order to put the currency pair within the safe range.


__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Fundamental Analysis: February 6, 2017

The USD/CAD pair had to deal with a very dismal trading movement last week after its consistent uptrend was finally faced with some barriers. The currency pair dropped below 1.3000 for a short period but eventually reverted albeit much weaker than its expected reversions. The market is now becoming concerned that the USD/CAD was unable to fully regain its strength especially since this pair is expected to be subject to more pressure during this week.

This drop in the pairs value can be largely attributed to the dollar weakness which has become evident in the value of the USD/CAD pair especially since Canadas economy is well on its way to further improvement and oil prices are now starting to exhibit stability as the oil production cut agreement continues to bode well for all oil economies, particularly Canada. The US dollar has been negatively hit by the various policies implemented by the Trump administration. With Donald Trump now looking at the NAFTA agreement. If the NAFTA becomes suspended, then this would have a negative effect on the economies of all countries involved, such as Canada, Mexico, and even the US. This is one of the reasons why the currency pairs support barrier at 1.3000 points has been in significant risk during the past week.

The market is now monitoring whether the bulls of this pair would still manage to maintain its hold on this particular barrier especially since the US average wages report came in with very weak readings last Friday which has caused the US market to slump. This week is the Canadian economys turn, since Canada will be releasing its employment data and this is expected to give clues on the current state of the Canadian economy. If the pair manages to break through 1.3000, then this could be seen as a reversal in the pairs current uptrend.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


AUD/USD Technical Analysis: February 6, 2017

The negative figures from the Chinese PMI affected the commodities declining demand which involves the commodity currencies such as the Aussie dollar. As the US treasury bond yields recovered, the greenbacks got some decent support from it on Friday.

The pair traded with a slightly bearish sentiment last February 3 and come close to its multi-month highs. Meanwhile, buyers found a predetermined level 0.7700 and unable to reclaim it. Therefore, bulls weren't able to sustain their gains and return to 0.7650. The region stalled the progress of the sellers as it secures the prize on its area amid the EU opening. The price slipped through the NY hours on the back of negating its losses on a daily basis. The AUD/USD is confined on top of the bullish moving averages mentioned in the 4-hour chart. Resistance settled near 0.7700, support entered 0.7650.

The MACD weakened which confirmed a weak position of the buyers. RSI consolidated around the overvalued territory. The pair should reach 0.7700 in order to alleviate the bearish bias. Contrarily, a downward movement would likely emerge when the AUDUSD had a dipped at 0.7650 level. A close below the aforesaid mark allows the pair to extend it declivity towards 0.7550.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Technical Analysis: February 6, 2017

The British currency was kept in the pressured area on the back of a downbeat data of Services PMI coupled with the stronger stance of the greens.

Th sterling had a steep decline on Thursday after gaining a decent support within 1.2500 level where traders stalled for a renewed market indicators during the Asian hours. A bout of renewed selling interest drove the spot towards a lower position during the post opening of London trades. The GBP moved ahead to 1.2450 after it broke the region 1.2500 amid the American session.

As shown in the 4-hour chart, the Cable leads the 50-EMA to a lower point. While the throughout the European hours, the spot is confined on top of the 100 and 200-EMAs. The 100-EMA advanced higher while the 200 and 50-EMA lies in the flat-lining. Resistance is at 1.2600, support touched 1.2500.

The MACD histogram sits in the centerline. An entry in the negative territory would signal for an increasing strength for the sellers. While, if it entered the positive area, buyers will dominate the entire market. RSI remained around the oversold zone near the neutral readings.

A break under 1.2500 is expected which would imply the continuing phase of a bearish outlook. Furthermore, a downward trend within the 1.2400 level is considered to occur.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Technical Analysis: February 6, 2017

The greenbacks remained steady last Friday and beat the mixed data from the euro region. The Composite PMI and Markit Eurozone Composite PMI exceeded the expected outcome while the report for the Retail Sales presented negative figures. The bullishness on Friday was kept intact.

The single European currency came in green and continuously to lost its steam during the morning trades. Traders drove the spot towards the lower region of the ascending channel at 1.0750. Sellers had a tough attempt to break the uptrend line amid EU session and successfully make a gap prior to the onset of New York trades. According to the 4-hour chart, the price tested the 50-EMA in the EU hours while other moving averages headed up. Resistance settled at 1.0750. Support entered 1.0700 level. The MACD grew less which signaled weak position for the buyers. RSI escaped from the overvalued territory and proceeded southwards.

A near-term bearish sentiment might prevail. A position close to 1.0750, the EUR/USD pair next target is the support area 1.0700.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Fundamental Analysis: February 6, 2017

The EUR/USD pair will undergo pressure this week. Moreover, the NFP report was positive as the average earnings positioned at 0.1% lower than the expected 0.3%. When at first, it is expected for the bulls to take over the market but the trend doesn't have enough momentum bringing the price towards the 1.0800 as a resistance level which was the prior region. The greenback is being swayed because of the uncertainty from Trump and his team to change the policies and cannot be determined the next move of Euro.

The current psychological level at 1.0800 is a significant region and a break in this region could further bring the price towards the 1.12 mark which has been the region for some time last week. The market is trying to break the EUR/USD in the midst of the weakened dollar. At the same time, the market aims to stabilize the current rates but there were not enough support from the administration and economic policy changes and the reports of the economic data.

Although, a majority of the support for the currency supported from the economic data or the administration and at the same time influence the next Fed rate hike. However, it seems that the wage earnings reports are on the lows which could delay the rate hike process. This would put more pressure to the dollar today and this whole week and it is still uncertain until when the dollar rates would hold.

As for today, there will be no major economic news from the Euro or from U.S. regions. It is expected for the price to EUR/USD to remain in consolidation with a bullish bias with chances of a breakout near the 1.0800 level.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


NZD/USD Technical Analysis: February 6, 2017

The Kiwi against greenback declined on Friday's trading session. A strong support was found at 0.7250 level but was able to reverse the trend after forming a bullish candle while the resistance is found at 0.7350 level. If the price breaks higher than the psychological levels which will then result to a decline to the 0.71 level. Traders should expect high volatility in the market. Hence, fluctuations and rough trading for the pair.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Technical Analysis: February 6, 2017

The pair USD/CAD surged on Friday's trading session. It turned around finding a resistance towards the 1.30 level. The price could set into a new fresh low and this could further go down. However, if the price breaks higher than the candle pattern formed on Friday's session, there could be chances for buying opportunities. Traders should monitor the oil market as it has an influence to the Canadian dollar that usually affects the price inversely for the pair.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Fundamental Analysis: February 7, 2017

The EUR/USD pair maintained its ranging and consolidation activity with a range of 100 pips after it was unable to make a clean break on either sides of the chart. The USD had a weak trading activity yesterday after the NFP report disappointed the majority of investors and erased hopes of the Fed hiking up its interest rates in the near future. This, along with immigration-related problems surrounding the Trump administration has been very vital in affecting the weakening value of the US dollar.

Market analysts had been saying during the past sessions that the EUR/USD pair would continue consolidating unless it manages to go beyond 1.0800 since this will be the only time that the EUR/USD would be making substantial progress. In the past 24 hours, both the US and the European Union were facing their own problems, from Trumps immigration policies and the Eurozones increasing political tension especially with the impending French national elections, with some French parties stating their plans to separate France from the EU once they get in power. This is why the EUR was unable to take advantage of the dollar weakness which could have made some large-scale gains given a wholly different political atmosphere.

There are no major news releases expected to come out from the EU today so the EUR/USD would most likely continue its ranging and consolidation trend for today. The euro would most likely continue to remain stagnant until such time that it manages to make a clean break through 1.0800 points.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


NZD/USD Technical Analysis: February 7, 2017

The NZD/USD continued to move through the rising channel yesterday. The NZD traded on its recent highs and stayed on top of the 0.7300 level throughout the day.

The 4-hour chart mentioned that the pair rebounded to the 50-EMA and kept intact overhead the moving averages. The MAs (50, 100 and 200) maneuvered an upward direction as shown in the aforesaid chart. Resistance touched 0.7350 region, support pierced 0.7300.

MACD histogram is bullish. It further hovered within the positive zone. RSI continually sits around the overvalued territory.

A bullish outlook dominated on Monday with a primary target 0.7350. A break in the 0.7350 mark generates a possible extension towards 0.7400 range.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Technical Analysis: February 7, 2017

The British currency continued to gain losses on Monday on the back of BoEs no rush decision regarding rate hikes coupled with the Inflation Report since the previous week

The sterling had a mixed trades yesterday. Moreover, the GBP/USD weakened during the morning trades and continued to move downwards.

A renewed buying interest occurred amid opening of EU trades which further provided support to the spot. The cable got a stable position throughout the European session and hold a few pips under the region 1.2500 prior to the onset of NA trading. As shown in the 4-hour chart, the price drove the 50-EMA lower and hovered on top of 200 and 100 EMAs. The 100-EMA is moving northbound while the 50 and 200-EMAs stayed in the neutral stance mentioned in the same timeframe. Resistance is at 1.2500, support sits close the 1.2400 handle.

The MACD approached the negative zone, sustaining this position would indicate a stronger position for the sellers. RSI is confined around the oversold area near the neutral readings.

In spite of the decline that recently occurred, the bullish trend was able to maintain its progress. A close under the mark 1.2500 would signal a renewed bearish outlook and has the possibility to advance towards 1.2400 hurdle. Contrarily, a close on top of 1.2500 would retake a bullish sentiment to the cable pair. The spot is possible to recover in the short-term 1.2600.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Technical Analysis: February 7, 2017

The greenbacks brought an impact against the single European currency on Monday. The EUR/USD softened on the back of US recovery following a recent sell-off. Meanwhile, the euro take no attention towards the upbeat figures of the German Factory Orders.

The EUR came in negative subsequent to Monday opening. In case, a break on top of the 1.0800 mark backslid, a profit-taking could take place which would push the spot downwards. The price rebounded the 1.0800 barrier and reached 1.0750 amid EU session.

Sellers were able to resume its gains throughout the North American session. According to the 4-hour chart, the pair tested the 50-EMA. All moving averages (50, 100 and 200) seems bullish. Resistance is found at 1.0750 level, support entered 1.0700 region.

The MACD declined which confirmed weak buyers position. RSI moved southward after it departed from the overvalued territory

Technicals manifested a near-term bearish picture and fixate at 1.0700. The 1.0650 support region emerge after the level broke. A break down to 1.0650 could sway an unfavorable market sentiment. However, a positive outlook can be sustained upon a break lower than the aforementioned predetermined level.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Technical Analysis: February 7, 2017

The U.S. dollar surged paired against the Canadian dollar on Mondays trading session as it climbed up to 1.31 handle. The price turned around heading downward from 1.3387 level after it climbed from 1.2968 level which is a form of consolidation for the price. If the price was able to stay below the said level, this signals the downtrend to continue towards the 1.2800 mark.

The uptrend will most likely continue for some time particularly in the short term. The current psychological levels brings a strong support and if the market is able to break below this, the outcome would not be favorable for the greenback. Hence, traders should expect high volatility in the market.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/GBP Technical Analysis: February 7, 2017

The Euro against the British Pound declined on Monday. Despite the downfall, the price enough support in the 50-EMA to recover the price trend giving a positive outlook. If the market is able to break higher than the candle formed in the trading session, the price could move again in the upside. Short-term pullbacks may be used as buying opportunities that may switched to a bullish pressure in the market later on. The next target of buyers will be at 0.8850 level.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


AUD/USD Technical Analysis: February 7, 2017

The Australian dollar declined on Mondays trading session in a high volatility market. There seems to be a strong support found below with buying opportunities close to the 0.76 handle. The price moves in an uptrend which seems to be overextended for some time. The pullback may influenced a strong offer of the price for traders that are willing to buy. The Resistance level is seen at 0.7750 mark while current support level could further decline towards the 0.75 and lower.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Fundamental Analysis: February 10, 2017

The USD/CAD pair merely continued its previous trend of ranging and consolidating as both the US dollar and Canadian dollar deal with the respective developments unfurling on both the US and Canada. The market is finally showing signs of being able to adjust to Trumps policies, and this ensures that the USD might be able to rally at least in the short term and medium term. The bulls of this pair was also able to effectively repel a barrier in the 1.3000 level of the pairs chart, thereby making its bulls more confident and making this pair a safe investment for potential investors since the pair is expected to continue its upward trend once it finishes consolidating and ranging.

The USD/CAD pair did not exhibit any kind of substantial movement during the past 24 hours. However, Trump has announced that he will soon be implementing tax cuts in the coming weeks, and this has helped the dollar regain its losses although it has not made any dent in the USD/CAD pairs activity. Market players are probably still waiting for the release of the Canadian employment data before making any move with regards to this pair as this will a determinant on the current stance of the Canadian economy. Moreover, the impending NAFTA discussion will likely be affecting the Canadian economy, and if Trump does good on his campaign proposals with regards to NAFTA, then the CAD will be bearing the brunt of this particular occurrence.

In spite of a lot of market analysts saying that Canada might be in for a weaker economic status in the long haul, the country has been releasing a series of fairly good economic data, and the BoC is expecting this trend to persist even as the country releases its unemployment data later today. If the data comes out as favorable, then the USD/CAD pair might drop to 1.3100 points, otherwise the pair might soon test the 1.3200 barrier.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Technical Analysis: February 13, 2017

The USDCAD was neutral amid Friday night trades. The Asian recovery slowed down overhead the level 1.3120. The greens tried to resume its gains but attempts failed. Renewed selling pressure affected the spot rebounding the price lower than 1.3120 during afternoon session.

The USD fall behind 1.3050 level prior to the opening of the New York hours.

According to the 4-hour chart, the rebounded the 50-EMA lower and tested the 100-day moving averages. The pair is confined under the 200 and 100-EMA throughout the day. The 100 and 50-EMAs is neutralize while 200-EMA moved lower as shown in the same timeframe. Resistance is at 1.3120, support entered 1.3050 region. The MACD histogram decreased which implied weak position for the buyers. RSI is confined in the overvalued territory near the neutral zone.

Bearish sentiment is expected to prevail. If the commodity-linked pair remained on top of the 1.3120 mark, sell order will be posted. The next possible target of the sellers is 1.3050.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Technical Analysis: February 13, 2017

The figures for the United Kingdom Industrial Production exceeded the expected results which further give a temporary support for the British currency. Nevertheless, the recovery of the greens is wide-ranging causing the GBPUSD to conduct a reversal.

The sterling preserved its neutral stance amid Asian session on Friday. The spot hovered on top of 1.2500 close to the handle.

Traders were able to surpass the region after the EU hours and continued to push the spot through 1.2450 area.

The 4-hour chart presented that the price drove 100 and 50-EMAs towards a lower point. The 50 and 200-EMAs seem neutral while the 100-day moving averages descended as seen in the aforesaid chart. Resistance touched 1.2500 mark, support lies at 1.2400.

MACD is placed in the centerline. An entry within the positive zone will provide added strength for the buyers while an attempt towards the negative territory will allow sellers to take over the market. The RSI stayed in the neutral region. Either a move lower than 1.2500 would help produce an opportunity to test 1.2400.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Technical Analysis: February 13, 2017

Non-Farm Payrolls in France came in positive but the single European currency ignored these strong data. The euro was kept intact in the pressured area on the back of the increasing political instability relative to Frances Presidential election. Moreover, the imminent vote-casting within Germany, Italy, and Netherlands brought added pressure against the EUR. Meanwhile, the US dollar demand was supported by the tax reform proposal by Trump.

The greenbacks further strengthened on Friday while the euro weakened after a clear recovery at night amid EU session.

Traders surpass the 1.0650 level and drove the price downwards during the New York trades. The EUR/USD pushed the 200-day moving averages as shown in the 4-hour chart. The 100 and 50-EMAs were bearish-neutral while 200-EMA manifested a bullish bias in the aforesaid timeframe. Resistance is seen at 1.0650 region, support touched 1.0600 handle.

MACD indicator softened implying a sell signal. RSI is confined in the oversold territory, indicating a downtrend. Another lower movement is expected, reaching the 1.0600 mark. A close below the support region is possible to provide further weakening through 1.0550.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Fundamental Analysis: February 13, 2017

The GBP/USD pair merely continued its weak trading activity following the steady surge in the value of the USD, which started last Friday and has continued up until todays session. Since the Brexit process has already been seen to put tremendous pressure on the sterling pound, traders have been consistently advised to engage in pound selloffs once the pair progresses since the currency pair might experience a slump in the short term.

This particular forecast has been during the past few weeks, where the GBP/USD pair has been relentlessly attempting to push through its upper barrier as a reaction to a string of positive economic data from the UK as well as some minor challenges such as the SCs ruling on the Brexit process, and Theresa Mays release of her guidelines with regards to the Brexit process. These clarifications has helped increase the value of the sterling pound but dissipated almost immediately as Brexit concerns re-surged, and now we have the dollar strength which has put downward pressure on the GBP/USD pair and has caused the pair to trade below 1.2500 points. Since the dollar strength is expected to continue for the rest of the week, the currency pair might possibly drop further to 1.2400 in the short term and could even reach 1.2300 depending on how the dollars activity pans out.

There are no major news releases coming from both the UK and the US for today and this is why the market is generally expecting the recent dollar trend to continue. The GBP/USD pair would most likely trade weakly but in a higher range unless the pair manages to go cleanly through 1.2700 points.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Fundamental Analysis: February 13, 2017

The EUR/USD pair has been subject to a lot of pressure ever since the trading session last Friday up to today due to the US dollar regaining its strength and exhibiting this newfound strength across the board. This positive value of the USD is expected to continue for the rest of this week and the market is quite interested on how the currency pair will be coping with this recent surge in the US dollars value. Presently, the EUR/USD pair has been holding its own on the 1.0600 trading region and the bears have been making repeated attempts to break through this barrier but to no avail. However, the increase in the value of the USD has not direly affected the value of other major currencies but has been slowly but surely increasing and if this particular trend continues then the support barrier might be broken soon enough.

The dollar strength has been largely attributed to Trumps statements that his administration will soon be implementing tax cuts for both corporations and citizens, which has been a cause for celebration within the market and has returned the Trump trade. The Fed is also hinting at increasing the frequency of the interest rate hikes this year by up to three times, and Yellens speech due tomorrow is expected to remain bullish on both the economic situation and the interest rate hikes.

There are no major economic data scheduled to be released for today from both the US and the European Union, so this means that the current trends would most likely to continue today, with the EUR/USD remaining under pressure for the rest of todays session.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/JPY Fundamental Analysis: February 13, 2017

The USD/JPY pair increased in value due to a surge in the demand for high-risk assets during the trading session last Friday, however the currency pair eventually dropped in value as a result of a profit-taking phenomenon prior to the meeting between Japanese PM Shinzo Abe and US President Donald Trump. The USD/JPY pair closed down the previous session at 113.164 points after dropping by -0.05% or 0.062 points. Moreover, the USD rallied as a result of Trumps recent remarks with regards to tax reforms in the US, with Trump stating that his administrations tax plans will be announced in the coming weeks.

Looking forward to todays trading session, the USD/JPY pairs movement will most likely be influenced by investor sentiment, and an increase in the demand for high-risk assets would lend significant support for the currency pair. For todays session, the market will be anticipating the release of the Preliminary GDP report for the 4th quarter of 2016, where the market is expecting the data reading to come in at 0.3%. In addition, the previous reading is also expected to be cut down at 0.3% as well. China will also be releasing its Producer and Consumer inflation data which is expected to have an impact as well on the USD/JPY pair.

There are no major news releases from the US for today, but come Tuesday investors will be reacting to quite a handful of economic data from the region such as the PPI report and Fed chair Yellens two-day testimony will commence along with the release of the Federal Reserves Monetary Policy report. This will be used by traders to look for clues with regards to the next Fed rate hike, while Wednesday will be the scheduled release of the CPI report from the US.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/JPY Technical Analysis: February 13, 2017

The British pound against the Japanese yen rallied on Fridays session. The price trend gives a bullish tone being tested at 142.50 level which will be balanced off when buyer pulls the price close to the 140 handle. This makes it more advantageous to go for long positions as seems to go uptrend for long-term. Consequently if the price breaks over the peak of the shooting star for the day, it is possible for the price to reach towards the 145 handle. It may not be favorable to sell this pair as British pound gives a long-term support level against the basket of currencies.

The pair is being traded with high volatility and recently the price has been reversed which is already expected as the price got lowered higher than the former. It may not advisable to go for short since the price could get even lower than 145 handle towards the 148.50 level. The buyers may dominate the market as the price continues to go deep. The Japanese yen has sold off against other currencies. There are potential risks in trading this pair as the pair might go higher, the same way with other currencies paired against the yen.

Overall, the pair gives a choppy sentiment with possibilities of big moves going in one direction as the market gives an impulsive reaction. It seems that the market wanted to reach higher but it remains in consolidation as the market is still trying to gain enough momentum to make a bigger move. However, if the price breaks down lower than the 130.50 level is not a good sign.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


NZD/USD Technical Analysis: February 13, 2017

The New Zealand dollar against the U.S. dollar declined during Fridays trading session but was able to recover. After the decline on Thursday session, it is not unexpected that the buyers will try to reach the price towards the 0.72 level. If the price breaks higher than the high point of the candle pattern, it is possible for the market to extend up to the 0.7350 mark for the second time. The market is seen to have a bullish tone for some time that makes the pullback attractive and beneficial of the price to traders. It may not be propitious to sell this pair for now.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/GBP Technical Analysis: February 13, 2017

The Euro against the British pound swung within its range during the day with candle pattern formed giving a negative tint. A significant support was found at 0.85 level but sellers are trying to move the price. The price could further go down when the price breaks lower than the 0.8450 level. However, if the price breaks higher than the range that was seen during Fridays trading session, the market could reach the former levels. Overall, there will a rough trading in the market.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Fundamental Analysis: February 14, 2017

The strength of the USD is now felt more than ever in the market, and this has caused other major currencies to experience the negative effects of the surge in the dollars value. For the EUR/USD pair, the currency pair has dropped to 1.0600 points and was only able to prevent itself from further decreasing due to its support barrier of 1.0580 points. However, the pairs price activity looks very dismal and it is uncertain how long the bulls would be able to keep its hold on the pair before the bears manage to seize control and push the pair further downward. If this happens, then this could spell disaster for the euro.

The market is now able to fully adjust to Trumps policies after an initial unrest caused by his teams adjustments to certain regulations, with the market now sure of the administrations approach with regards to policies, thereby improving investor confidence in the US dollar. This has helped to shift the markets focus from the Feds future moves and Trumps future implementations as well, and this has further helped to support the USD especially now that the Federal Reserve is keen on sticking to its statement that there will be a total of three interest rate hikes for this year.

The US will be releasing its PPI data today, and Fed chair Yellen will be making statements with regards to the central banks monetary policies during todays speech in the New York session. The market will be monitoring Yellens speech later today and if Yellen becomes consistently bullish in her remarks, then the euro could be in for more price drops.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:



GBP/USD Fundamental Analysis: February 14, 2017

The GBP/USD pair exhibited a tight trading activity during yesterdays session as the USDs value surge was felt across the market. However, this activity somewhat failed to make a dent in the value of the sterling pound. A lot of analysts have been saying during the past few days that the GBP is practically the only currency which has resisted the negative effects of the dollar strength in spite of the fact that it continues to be weak as a result of the Brexit process. This is because UK government officials have been working very hard to make the Brexit process clear for everyone, and any kind of certainty is very much welcomed by market traders and investors.

Another reason for the GBP/USDs resistance against the strength of the dollar is the continuously positive string of economic data coming from UK which is an indicator that the countrys economy has not yet been affected by the repercussions of the Brexit process. This could also mean that both the UK economy and the sterling pound might even become better and stronger in the long term even when it finally relieves itself from the European Union. These speculations was able to maintain the GBP/USD pairs position at 500 pips, with more ranging and consolidation expected to continue in the near future in spite of the dollar strength.

UK will be releasing its CPI data today and this will be closely monitored by the market whether this will come out as positive and affirm the countrys strong economic status. US will also be releasing its PPI data today and Yellen will be making a statement with regards to the monetary policy of the Federal Reserve, including economic status and interest rate hikes.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Fundamental Analysis: February 14, 2017

A lot of analysts have been saying that it is highly likely that the USD/CAD pair will be subject to an increased amount of pressure as oil prices continue to stay afloat and the economic data coming from the Canadian region continues to be consistently positive, a signal that the countrys economy gets better everyday. The currency pair is expected to remain under pressure as long as the US dollar remains under control, and this also means that the pairs bulls would need to consistently strive to maintain the support barrier at 1.3000 points. This activity has been seen during the past trading session as the pair was able to surpass the 1.3100 barrier and is now currently going towards 1.3050 points.

The USD/CAD bears were also helped by the fact that Trump and Trudeaus meeting yesterday was quite cordial, with Trump clarifying that the shifts he will be making on trade agreements will not have that much of an effect towards Canada. This helped to support the Canadian dollar which tried to surpass the dollar strength but eventually failed as the USD consistently surged in value.

There are no major news releases coming from Canada to day but the US will be releasing its PPI data and Yellen will be making comments on the central banks future monetary policy as well as the current state of the US economy. If her comments come out as bullish, then the USD/CAD pair might move towards and could even surpass 1.3100 points.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/JPY Fundamental Analysis: February 15, 2017

The USD/JPY pair surged in value on Tuesday as the demand for high-risk assets further increased among investors. The USD also became more attractive for investors as a result of an increase in Treasury yields. The USD/JPY pair finished off the last trading session at 114.249 points after increasing by 0.44% or 0.506 points. This increase in Treasury yields was further supported by Yellens remarks, after the Fed chair stated that it would be impractical to hold off the impending interest rate hikes by the central bank, especially in the face of burgeoning economic growth and inflation rates.

Todays session is expected to be mostly driven by investor sentiments, with high demand for risky assets becoming the likely catalyst. Yellen will also be releasing a statement in Congress today, and the Fed chair is expected to offer more clarifications with regards to the guidelines and further details with regards to the Fed rate hike, with investors putting a 22% probability of an interest rate hike this coming March. The US will also be releasing a number of economic data today, such as the retail sales report and consumer inflation data. Accompanying these major reports are the Empire State Manufacturing Index, Capacity Utilization data, and Industrial Production data.

Yellens statement today is expected to inject additional volatility into the currency pair, and if her comments come out as hawkish, then this could cause the USD/JPY pair to further increase in value. If Yellen refuses to confirm market speculations of a rate hike in March, then this could be used by investors to book their own profits.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Fundamental Analysis: February 20, 2017

The sterling pound continued its current ranging and consolidating trend within a tight range for the second straight week as the currency pair was virtually unaffected by the dollars activity. Both the US and the UK are undergoing a period of large-scale market uncertainty, with the various concerns surrounding the Trump administration and the onslaught of the Brexit process causing the currency pair to be in a deadlock and trade within a pip range of 400-500 during the past few weeks.

UKs average earnings data and CPI data turned out to be somewhat dismal, but the effect of this data was offset by the release of the claimant count change data which had a very positive reading. This somewhat balanced feel of the UK data is one of the reasons why the sterling pound has maintained its current position in spite of the Brexit process with no signs of falling off soon. Fed Chair Yellen chose the middle ground of the US monetary policy during her statement last week but also said that there is a likely possibility that the central bank will be implementing a rate hike this coming March. The effect of this particular bit of news might have done the USD some good, but then again the US market had to suffer the effects of a very weak wages data in spite of a positive CPI and retail sales data, and this had a significant impact on the movement of the USDs bulls. Luckily the GBP/USD pair was not that adversely affected and closed down last weeks session at just over 1.2400 points.

For this week, the UK will be releasing its GDP data and the Parliament will be starting to discuss Article 50 which signals the start of the actual Brexit process. This is not expected to deliver new data into the market, but this is expected to add more volatility as it gets passed through the Parliament.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


USD/CAD Fundamental Analysis: February 20, 2017

The USD/CAD continued its tight-range trading as pair continues to fail to make any significant headway as both the bulls and the bears of the pair struggle to take control of the currency pair. During the past weeks, the bulls looked like they had total control of the pair as the pairs price hovered over 1.3200 points, with very few corrections. However, this slowly changed as the weeks progressed and the pair now has to deal with immense pressure at its support barrier of 1.3000 points.

One of the reasons for this move in the USD/CAD pair is that the Canadian economy continues to release consistently positive strings of economic data, while the US continues to disappoint the market by releasing poor economic readings all throughout. The CPI data and retail sales data from the US was released last week, and although these two sets of data came out as fairly positive, it exhibited a very weak wages data and this did not sit well with the pairs bulls. This, along with the fact that the market is still very uncertain with the current US administration and the unwillingness of investors to invest in the USD has led to a pronounced weakness in the US dollar.

For this week, the Canadian economy will be releasing its own set of CPI data and retail sales data, while the US will be releasing the minutes of the FOMC meeting, all of which are expected to induce significant volatility into the activity of the currency pair. If the data coming from the Canadian economy continues to be positive, then the pair bulls would be in trouble and the support barrier of 1.3000 points might very well snap. If this happens, then the USD/CAD pairs trend could be in for some major trend changes.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:



EUR/USD Fundamental Analysis: February 20, 2017

The EUR/USD pair was subject to some nice amounts of volatility during the past week after the currency pair was mainly influenced by the dollar strength during the first half of the week, but immediately went into reversal as the latter part of the week started. The currency pair is now expected to consolidate with a bullish undertone for this week, with projected support levels at 1.0500 points and resistance levels expected to be at 1.0800 points.

Last week, the EUR/USD finally looked like it turned for the better as the currency pair made a steady march towards 1.0500 after breaking through 1.0600 after a foreshadowing of a long-awaited dollar uptrend. This was also further supported by Yellens confirmation that the Fed will be implementing another rate hike this coming March. However, the effect of this positive news was offset by the release of the CPI data which showed weak wages data in spite of the overall data being highly positive. This turned out to be unappealing for the dollar bulls and caused the USDs strength to die down, causing the pair to end at just over 1.0600 points.

For this week, there will be a US market holiday and there are no expected data to come out from both the EU and the US for the week. The EUR/USD pair will most likely continue its current trend of ranging and consolidating for this week.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


EUR/USD Technical Analysis: February 20, 2017

The U.S. dollar weakened on Friday despite of the light market caused by the federal holiday, US President's Day. Investors attention were drawn towards the nations current political condition while expecting for the final resolution regarding the financial assistance to Greece.

The upward trajectory weakened on Friday. The single European currency failed to break the 1.0680 region and reverse.

During the Asian hours, the market is relatively quiet and exhibit further agility amid EU session. The demand for the greens were brought by some European traders which drove the spot downwards. The EUR steeply declined and tested 1.0650 mark during the post opening of EU trades. The aforesaid mark stalled the sellers action therefore rejected the EURUSD higher. The pair surpass the 200-EMA lower, rebounded the 100-EMA and tested the 50-EMA. Moreover, the 100 and 50-EMAs headed downwards and the 200-day moving averages appeared to be bullish-neutral. Resistance lies at 1.0700, support is seen at 1.0650.

The MACD indicator plunged to the positive territory and if it hovered within that area, the position of the buyers will reinforce. RSI is confined in the overvalued zone, favoring another downward trend.

The major struggled to proceed upwards. A break under 1.0600 region would consider further instability to 1.0550. Should the level jump up would signal an opportunity to buy on a dip.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


NZD/USD Technical Analysis: February 20, 2017

The NZDUSD were kept below the pressured area and resumed its decline under the 0.7200 level on Friday. Having broke the level, sellers weakened and took a pause to regain some steam attempting to make another move downwards.

The major rebounded the 50-EMA towards a lower point as indicated in the 4-hour chart. The spot extended its development in the middle of 200 and 50-EMAs. The 50-EMA is trending lower, 100-EMA was neutralize and the 200-EMA moved higher. Resistance is at 0.7200, support lies at 0.7150.

MACD histogram lies at the centerpoint. If the indicator approach the positive zone, it will provide added strength for the buyers. While an entry in the negative territory will open an opportunity for the sellers to dominate the market. RSI escaped from the overvalued area and settled around the neutral region. Should the spot surpass the 0.7200 mark higher, will negate the medium-term negative outlook.

The bulls are able to drive the pair to 0.7250 handle. While a decline under 0.7150 will cause the support the sellers having chance to continue its slide through 0.7100.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


AUD/USD Technical Analysis: February 20, 2017

The Australian dollar dipped during Friday session as investors tried to bring the pair up against the U.S. dollar. There isnt much to see on the Australian and U.S. economic calendar on Friday as it came in a neutral condition as there is a 0.6% increase announced on the U.S. conference board for the month of January compared to that leading index gain of 0.5%.

Come Monday, there are no major events to wait from Australia while the U.S. banks are on a holiday. It is expected for the price trend to remain in lower than the average volume. However, traders should still be cautious on the possible volatility surge.

The main price trend is in the upper levels but there is insufficient momentum as the pair close on Thursday with a price reversal and was repeated the following day. However, price leveled at .7732 will counter the closing price turn around and implies the continuity of the uptrend.

The near-term range is set between .7511 and .7732 with the retracement zone from .7621 to .7595 levels as the next lower target aiming to close the price reversal top chart pattern. Nevertheless, with the current uptrend, it is not far for the buyers to be active again to test the said psychological levels.

After closing at .7664 on Friday, the price trend for today will depend on the market sentiment with the uptrend angle of .7671 level. If the price maintained lower than the .7671 level implying the strengthening of sellers. The daily chart is inclined go downhill and seems to go lower towards the next target at the short-term 50% of .7621. However, if the market was not able to sustain then selling may expand to .7595 and .7591 level.

Traders should look out for an uptrend bias steadily moving over the .7671 level while a downside trend below the .7652 mark. A breakout and a retained move over the .7671 mark signals the presence of buyers. This could push the price towards the next downtrend angle at .7692 level followed by .7712 and and the last possible resistance at .7722 downtrend angles before peak at .7732 level.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


AUD/USD Fundamental Analysis: February 20, 2017

The market reacted to the results of the labor report as investors closed on lows for the Australian dollar last Fridays session. This was further dragged down by the rebound of the U.S. dollar. Nonetheless, the selling still performs well as it reaches the three-month high despite the price performing weak below the .7700 level. The pair closed at .7664 level, declined by -0.60% or 0.0046 level.

The released job report on Thursday gave a positive outlook with high number of jobs produced more than expected for the month of January. A total of 13,500 jobs were given, exceeding the expectation number at 10,000. At the same time, this indicates signs of recovery after a slide in the economic growth during third quarter last year.The unemployment rate increased by 5.7 percent, although itr is still less than the 5.8 percent assumption.

However, if you breakdown the output, the numbers were not exceedingly high compared to the headline number. Although, it can be noted that the part-time number has outshined the full-time jobs gaining 129,800 part-timers compared to last years figure while 40,100 for full time workers. This can be quite problematic for the economy.

On Friday, the U.S. Conference Boards Index has been released that exceeded the expectation of 0.6% which is slightly higher than the 0.5% estimate.

It is expected for trading to on minimal with low volume and volatility as the U.S. banks are on holiday today. However, both the Reserve Bank of Australias minutes and U.S. Federal Reserve should be out soon Markets are not focused and not worried on the U.S. interest rate in March. If the market reacted to major events today, this is brought by the activity in the equity market and concerns in the French election.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


AUD/USD Technical Analysis: February 22, 2017

The Aussie declined following the broad-based US dollars strengthening. The minutes from the Reserve Bank of Australia weighed on the Australian dollar after the regulator decided to keep a steady monetary policy where its major targets correspond with the GDP and inflation.

The AUDUSD develop below the fresh selling pressure yesterday. The reserval within 0.7650 seems short-lived, reaching 0.7700 level. The price bounced back to the resistance during the Asian hours, favoring a downward trend. The spot touched 0.7650 region in the late session of Europe.

The price leading the 50-EMA downwards is exhibited in the 4-hour chart, as it further reached the 100-EMA eventually. All moving averages ascended. The resistance settled near 0.7700, support is at 0.7650.

MACD histogram touched the centerline. An entry within the negative zone will provide more strength for the sellers. When the indicator return to the positive territory, it enable buyers to regulate the market. RSI still sits around the neutral area.

A daily close under 0.7650 region could bring risk to 0.7600. Failure to surpass the region would assist the AUD to ease the ongoing downward pressure. The price is possible to rebound 0.7700.

__________________

Apple ForexMart



Guru

Status: Offline
Posts: 918
Date:


GBP/USD Technical Analysis: February 22, 2017

The US Treasury bond yields grew and the greens reinforced. The focus is now on the upcoming Fed meeting. Moreover, the bearishness continues on Tuesday. The reversal halted below 1.2500 level by which the bear retake the control in leading the spot lower. The sterling came in red on Tuesday.

Sellers continuously pushed the price over the night. The European markets carried renewed selling interest which stimulated the pairs decline. The Cable highlighted 1.2400 region in post-opening of London session.

The 4-hour chart displayed that the price bounced back to the 50-EMA through a lower area and tested 200-day moving averages. The 50 and 100-EMA headed downwards while the 200-EMA is flat. Resistance is at 1.2500, support pierced 1.2400 area.

MACD indicator weakened implying a sell signal. RSI is confined in the neutral zone. In case the ask tone insist a break under the 1.2400 handle, there opens an opportunity to settle at 1.2300.

__________________

Apple ForexMart

«First  <  16 7 8 9 1014  >  Last»  | Page of 14  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us


Create your own FREE Forum
Report Abuse
Powered by ActiveBoard