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Thread: Daily Market Analysis from ForexMart

  1. #271

    Default EUR/USD Fundamental Analysis: July 7, 2017

    The EUR/USD climb higher on the positive news for the single European currency and brought negative news for the US dollar, hence, this helped the pair to return towards the range of its highs where it previously existed.

    The euro-dollar pair appeared to be very bullish as of this time while traders and euro bulls will cheer up due to the fact that a major portion of this is from the existing strength of the EUR. This not the same during the earlier times wherein the pair trailed upwards following the dollarís weakness.

    As mentioned in the earlier forecast, the bullish run will remain intact within this pair and it appeared that will take some time prior the euro recovery. This happened yesterday due to the release of ECB minutes which clearly indicates that officials talked about preserving the QE tapering. However, decided to hold back until the inflation data support this move. It further shows that the ECB is very serious in considering the tapering as this also wrought a large increase for the EUR. In case that it lacks steam to push the EURUSD higher, we could rely on the ADP employment report which presented lower than expected value of 158K versus projections of 185K.

    As the ADP served as a precursor to the NFP scheduled to be released later this day, it further acts as a reminder for the dollar bulls that they are not yet far from that critical phase and that other challenges and struggle continues in the near-term. With this, the trend of sluggish US data resumed in the past couple of days. This questioned the Fedís decision on ignoring the weak data after they implemented rate hike in the previous month. Ultimately, the focus is on the NFP along with the wages report and should be keenly monitored. Any hints of weakness in this report will only need some stimulant in order for the euro bulls to support the pair to 1.05 level.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdfund-png 
    Andrea ForexMart, Official Representative

  2. #272

    Default EUR/USD Fundamental Analysis: July 14, 2017

    Despite the fact that EUR/USD appeared to be volatile and fluctuates continuously and when we zoom out the trends viewed on the daily scale, we can see that the euro-dollar pair is trading in a quite tight range in the past couple of days.

    Apparently, the pair is bullish but a move over the 1.1450 region a few days ago, correct back towards that level and it trades on top of 1.14 mark as of this writing.

    Failure to move beyond the level 1.1450, despite the weakening of the US dollar previously, should still be considered by the bulls. As they are expectant that the EURUSD will remain to trend upwards when it cleared the resistive region at 1.1430. Yet, thereís no any movement happened and the pair trades under the broken resistance as of this moment.

    As the euro bulls spent more time in managing their move, it provides a greater chance that dollar bullishness may eventuate and then trimmed lower until nothing.

    Janet Yellenís testimony in 2 days did not bring out any hints of hawkishness that disappointed the dollar bulls again yesterday since they somewhat expected that she will support the dollar and give any clues regarding economic growth and the schedule of the next rate increase. The Fed Chair spoke her typical lines without providing any signals and this resulted in a weaker dollar.

    Ultimately, the US CPI and retail sales and other significant data is the second most important set of data next to jobs report. Therefore, it should be monitored closely in order to know if there is some recovery in the employment statistics for these figures could also lead to a recovery. In case that this happens, we will witness a fully recovered US dollar.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusd14-png 
    Andrea ForexMart, Official Representative

  3. #273

    Default EUR/USD Fundamental Analysis: July 17, 2017

    The Euro against the U.S. dollar puts its high levels at risk following poor data results on Friday that boosted the pair. The dollar has been negatively positioned in the past few weeks to take advantage of any kind of recovery. The NFP results put a high data keeping hopes up that this would result in a reversal because of the U.S. economic data and anticipated to recover the dollar but it did not happen.

    In the previous week, the dollar has kept a sustained decline but the market is focused on Yellen and late data released on Friday. Yellenís speech was not as expected and she was not concerned with her less hawkish speech which will further place the dollar in a difficult situation. Hence, the dollar bulls will have to rely on the Friday data to appeal for traders to buy since Yellen could not support the dollar. Furthermore, both the retail sales data and the CPI data has failed expectation which has worsened the situation.

    The retail sales came in with weakened growth while the CPI data came in at 0.1% compared to the anticipated value of 0.2% that pulled the dollar growth down and pushed the EUR/USD pair up. A steeper correction level is hoped for but the lackluster growth of the U.S. economic data raises concern and the next rate hike would depend on the next reports. Yet, the next rate increase will most likely not happen in the short-term.

    For today, there is no major news from the Eurozone as well as in the U.S. which in effect, will continue the market sentiment on Friday. Nevertheless, traders should get ready for the week ahead.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusd17-png 
    Andrea ForexMart, Official Representative

  4. #274

    Default GBP/USD Fundamental Analysis: July 19, 2017

    The British currency against the U.S. dollar had a correction during Tuesday session. The pair dropped towards 1.3030 level bringing the trend in a weaker position on Friday after the inflation data came out with negative data.

    The pair is now on a crucial condition which will presumably persist in the upcoming trading sessions. The pair could break above the region to move forward in short-term. In the past few weeks, it is notable that the economic data from the UK did not meet expectations. This opposes the trend by the start of the year when the U.K. data has been impressive and exceeded expectations amid of political and economic problems brought by the Brexit negotiation.

    The BoE has been anxious regarding the monetary policies including rate hikes in the future and the economic data has a vital role in the decision-making process. Hence, negativity in the data would make them be irresolute.

    The GBP/USD pair was able to brush aside issues on weak data and Brexit concerns in the past few weeks due to the low dollar in the market. Moreover, BoE reinforces this and adds more pressure. However, if the dollar steadies, the attention will go back to the BoE and the economic data unless both works side by side. On the other hand, this would be more complicated for the pound bulls.

    For today, there are no major new from Britain or from the United States. Choppiness is anticipated to carry on close to the 1.3050 region since the trend is now in consolidation and ranges.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusd19-png 
    Andrea ForexMart, Official Representative

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