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Thread: Daily Market Analysis from ForexMart

  1. #91

    Default USD/CAD Fundamental Analysis - September 21, 2016

    Yesterday, Governor Poloz of the Bank of Canada discussed about the need of the monetary stimulus for the country in order to bolster its economy, however the US and Canadian dollar seems impassive as it performed a steady-going movement.

    As it was stated in the yesterday's forecast, the USDCAD traded within a high range near the 200 SMA and possibly to become a firm resistance for the pair and the forecast were already proven right. Buyers attempted to drove the price beyond the resistance level which resulted a fall back to its previous range.

    The 200 SMA breaks through the 1.3253, the high is positioned around the 1.3242. Due to a sharp decline of the high, the price settled down at 1.3176 and further changes down to 1.3100 is still anticipated. Moreover, the FOMC announcement will determine if the pair could make an increase within the level of 1.2850.

    The USD and CAD appeared to be bearish within a short and medium term. There is also a prediction regarding the oil prices consolidation subsequent to the recession happened few months ago. Part of the forecast is the continuous ranging of the pair between 400-500 daily pip range.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcadh421-png 
    Andrea ForexMart, Official Representative

  2. #92

    Default GBP/USD Fundamental Analysis: September 22 2016

    The activity of GBPUSD yesterday resulted the pair to be considered as volatile currency pair in the market.The pound and dollar trades in a tight range with a firm support set in the level of 1.2950. The resistance level maintained 1.3000 even after the Fed announcement regarding the retain the price of current rates, however, they did not issued a specific date for the rate hike.

    The vague announcement from Fed rendered an uncertain state of volatility and subsequent to this statement, other pair related to USD have been affected also. The concerned pairs concluded a moderate upward trend followed by the GBPUSD as well.

    The USD established a weak position because the market were a little disappointed since Fed did not presented anything hawkish. The pair fluctuated with a resistance level of 1.300 but the movement continued on an advanced level of 1.3035.
    In view of the instability of the USD that is expected to prevail until the succeeding session but with a conforming and secure target ranges from 1.3140 to 1.3170.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh422-png 
    Andrea ForexMart, Official Representative

  3. #93

    Default EUR/USD Technical Analysis: September 22, 2016

    The much-awaited monetary policy announcements from the Bank of Japan and the Federal Reserve turned out to be a big disappointment for investors and traders, particularly to dollar bulls, since both central banks have decided to maintain their present policies and make no changes. The US Federal Reserve did not make any changes in its interest rates. However, there is a possibility that a rate hike could happen within the year due to three dissenters at this point compared to only one dissenter during the last policy announcement. Fed chair Janet Yellen has also stated that the possibility of a rate hike has already strengthened.

    The Bank of Japan has created measures to take control of its yield curve, such as maintaining its rates at -0.1% in an attempt to protect banks. However, the BoJ has also introduced a 10-year interest rate target. Policy makers are now anticipating one last rate hike for 2016 and possibly two more hikes for 2017. The median growth protection for 2016 was cut back from 2% to 1.8%, indicating a decrease in its long-term forecast. Inflation rates are expected to go down to 1.3% during the last quarter from the previous forecast of 1.4%.

    The EUR/USD pair went up to 1.1196 points before going down slightly prior to the announcement of the central banks, with the USD losing some of its present value. The EUR/USD also maintained its neutral-bearish stance in the 4-hour chart after certain technical indicators went over the neutral side. Prices were also unable to go over the 100 and 200 SMAs. However, the currency pair is expected to strengthen this Thursday due to the upward movement of the USD, with trading points expected to go up to 1.1200.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh422-png 
    Andrea ForexMart, Official Representative

  4. #94

    Default EUR/USD Fundamental Analysis: September 23 2016

    The EUR/USD persist an upward grind movement since the trading day yesterday. The said activity started subsequent to the FOMC's announcement.

    Bearish investors tried to pass through the support level of 1.1145 but failed to accomplish their plan. When the announcement were already made, bullish investors are able to manage the price actions that moved in an ascending manner. They are capable to broke the yesterday's forecast with a level of 1.1250.

    The European market look forward for the announcement of the ECB president, Mr. Mario Draghi regarding the Euro economy. This is why the economy had experienced a price delay in selling. Consequent to the major announcements made by the BoJ, Fed and other central banks, Draghi did not disclose any special information because he does not want to aggravate them.

    After the grind and FOMC statement, the USD moderately increased and started to acquire strength together with the its related pairs. This development negatively affected the Euro and demonstrated a decreasing grind that last in one night.

    The grind of EUR gained a support towards 1.1200. In case that the dollar stick on its actions, the EURUSD has the tendency to draw back a main support in the 1.1200 level.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh423-png 
    Andrea ForexMart, Official Representative

  5. #95

    Default Fundamental Analysis USD/JPY: September 26, 2016

    Investors in the Japanese yen were disappointed with the Bank of Japan’s plans to reexamine its monetary policies. The reaction to the central bank’s announcement caused an initial double-sided volatility. Investors have since decided that this particular decision will have no bearing on the economy and on the Japanese currency.

    The BoJ’s announcement caused the JPY to increase significantly on September 21, but the USD had already started bouncing back by September 23. The USD/JPY closed Friday’s trading session at 100.971 points, going up by 0.211 points or +0.21%. The pair however still closed the week lower by 1.26%.

    The USD/JPY pair was also further weakened by the Fed’s interest rate and monetary policy statement, which turned out to be less hawkish than expected. The Federal Reserve did not increase its interest rates this month, but there is still a possibility of an interest rate hike in December.

    The USD experienced a downward pressure.due to the Fed’s lowered expectations and the decreased possibility of future rate hikes, which can lead to a lowered appreciation of the USD since the central bank’s decision indicates a slow-moving US economy.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh426-png 
    Andrea ForexMart, Official Representative

  6. #96

    Default GBP/USD Fundamental Analysis: September 26, 2016

    The GBP/USD pair endured the similar fate with the EURUSD since both pairs are stucked in the same range, however the range spot of the euro and dollar are doubled resulting the GBPUSD to have a greater volatility. The trading range is identified subsequent to the Brexit decision and set between the 1.29 and 1.34. The given range presents a price consolidation because the UK market are still waiting for the official price of the sterling after the Brexit ruling. Considering the fact that the EU exit proceeding has not yet initiated again thus the details continued to be unclear making the pound to settled within the uncertain position. In addition to it, the data of UK have presented a better-than-expected results throughout the referendum which bolster the European economy, for all that they still awaits for the detailed activity for better comprehension of the policy effect. As indicated in the weekly chart, the pair is regarded as safe for the investor to use in trading even on the extreme ranges.

    A major news regarding Europe is the update of its current account to be issued on 30th of September. Other news from the United States were assumed not to make any impact to the GBPUSD range.

    The pair is expected to trade and set a resistance level of 1.3150. If there is a break occurred, it will enable to move in the 1.3300 up to 1.3400 region.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh426-png 
    Andrea ForexMart, Official Representative

  7. #97

    Default Fundamental Analysis for GBP/USD: September 27, 2016

    The GBP/USD pair continues to trade at the bottom of its range, closing Monday’s trading session at 1.2950 points. The pair has not yet been able to make a proper recovery from its past price lows. The value of the currency pair will be most likely be decided by the impending adjustments between other currency pairs, particularly the expected EUR/GBP flows towards the end of September.

    The GBP/USD pair had strong resistance levels at 1.3140 last week and has plummeted back to the support levels at 1.2950 after failing to go above the resistance level. The pair also momentarily decreased to 1.2910 before going back above 1.2950 points. Analysts are expecting the pair to be bullish for the rest of the daily trading session, possibly going up to the resistance level of 1.3000 points. If the pair manages to go over this resistance level then this would enable the pair to go in the range of 1.3080-3100, where a lot of sells happened during the last time the pair has reached this level.

    However, it is still yet to be seen whether the pair would be able to maintain its current value at 1.2950, and could possible lead to a low on Friday at 1.2910 and then 1.2870. The EUR has a somewhat stable bullish stance, and the GBP is also expected to follow this bullish bearing of the EUR, since there are no major UK news that is expected to come out within this period.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh427-png 
    Andrea ForexMart, Official Representative

  8. #98

    Default USD/JPY Fundamental Analysis: September 27, 2016

    The USD/JPY stopped at 0.665 or -0.66% at 100.306. Financiers of the Japanese yen attacked the US investors on Monday as they kept arguing about the BoJ's plan to change the monetary policy.

    Despite of the preparation by many investors for the upcoming OPEC meeting and the first presidential debate of the United States, the Yen merchants awaits for the statement of the central bank Japanese Governor Kuroda. As he affirmed last Monday about the readiness of Nichigin regarding the usage of policy tool for the accomplishing the 2% target of inflation.

    Furthermore, news released some information during the meeting by which the bank is confident that they will reach their goal, but there are some uncertainties which might leave an impact for accommodating the renewed policy.

    The movement of price can be identified upon the debate outcome, considering that this is the major news at this moment.

    In case that Mr.Trump got the victory then stocks presumably would be sold-off whereby investors of yen would be safe because it will settle on a higher position.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyfun27-png 
    Andrea ForexMart, Official Representative

  9. #99

    Default Technical Analysis for GBP/USD: September 28, 2016

    The sterling pound is currently experiencing a downward pressure following a decrease in oil prices. The buying interest for the GBP/USD went down a few pips to have a current value slightly above the 1.3200 range. The currency’s value dropped significantly from the last trade high and went down between the 1.3200 and and 1.2940 trading range during the last session. The GBP/USD has now dropped beneath the moving averages while the 50, 100, and 200 EMAs is still experiencing a steady decline. Resistance levels are now at 1.3000 points, while support levels are at 1.2900.

    MACD levels are currently in the negative but remained in its previous level which indicates that sellers are now increasing their strength. The RSI is sustained at the neutral territory while oscillator levels are expected to decrease.

    Sellers would be able to break below the 1.2900 range if the GBP/USD pair would be able to stay within the negative trading range. Analysts are also expecting more sideway trades in the next few hours.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdtech28-png 
    Andrea ForexMart, Official Representative

  10. #100

    Default Fundamental Analysis for USD/JPY: September 29, 2016

    The Japanese Yen decreased its value during Wednesday’s trading session, causing the USD/JPY pair to increase its value by up to 0.257 points or +0.26% to close at 100.67 points. The increased demand for commodity currencies and stocks was caused by a report that OPEC had already consented to decreasing its overall output, which last occurred in 2008. Reliable sources from OPEC are saying that the organization would be reducing its oil outputs to 32.5 million barrels daily from its current output of 33.24 million barrels a day.

    The USD started strengthening earlier during the session after a recovery of European equity markets increased the risk appetites of investors which then removed their focus from the safe haven currency. The USD/JPY benefitted from the wide-range risk-on sentiment after the statement from OPEC increased activity in the US stock market.

    The US market surged primarily due to statements from Fed and a highly durable US goods report. Core Durable Goods Orders data decreased by 0.4% in August, going way below the expected reading of 0.5% and even lower than the expected July reading of 1.3%. However, DGO data was slightly better than the estimate of -1 and went significantly lower than July’s prediction of 3.6%.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyfund29-png 
    Andrea ForexMart, Official Representative

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