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Thread: Daily Market Analysis from ForexMart

  1. #121

    Default USD/JPY Technical Analysis: September 14 2016

    After the Board of Governors of the Fed released an announcement regarding their speculations to bring around the possible increase in rate for the month of September. The US dollar and Japanese yen confirmed a buy signal on Tuesday. On the other hand, the dollar recovered from the losses it endured on Monday. The buyers also drove the price within the level of 102.50. The financial instrument restored its position on top of the 50, 100 and 200 EMAs as indicated in the 4-hour chart while remained in a neutral status.

    Resistance is placed at 102.50, support settled at the level of 101.40. MACD arrived at the negative zone and experienced a steep decline that signaled seller's strength. RSI bounced against the oversold condition.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh414-png 
    Andrea ForexMart, Official Representative


  2. #122

    Default NZD/USD Technical Analysis: September 15, 2016

    There is an ease of movement of the New Zealand currency although the country indicated a weaker-than-expected result of its economy's health.

    The price of the pair is 0.7250 and able to trade with a higher price on Wednesday. The trendline continued to move in an upward direction even before a decline already occurred. The kiwi arrived at a lower position as indicated in the 4 hour chart because it is also currently dealing with a bullish tone 200-EMA.

    The price is moving between the 100 and 200 EMAs according to the timeframe analysis. While the 50 and 100 EMAs recorded a lower ratio. The resistance is established at 0.7320, support stands in the level of 0.7250. MACD experienced a downturn which means that sellers have strengthened. RSI merges on the oversold condition. The kiwi and dollar is anticipated to present a negative tone in the market.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdh415-png 
    Andrea ForexMart, Official Representative


  3. #123

    Default USD/CAD Technical Analysis: September 16 2016

    Due to recent decrease in the oil prices the currency of Canada exhibited a weaker performance in comparison to the US dollar, risk aversion also eventuate though endowed on a limited level only. The pair signaled an upward trend near its upper field.

    USDCAD undergone a short assessment and made a weekly high close to 1.3200 then bend over below the testing process. It can be observe that sellers are aiming for the 1.3200 level.
    Moving averages are lowered down the price of the pair. As indicated in the hourly chart, the 50-EMA ascends and crosses the 100 and 200 EMAs. Resistance of the pair is at 1.3200, support entered the point of 1.3100.

    The histogram established buyer's strength and stay on the positive area. RSI is place on the overbought region.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcadh416-png 
    Andrea ForexMart, Official Representative


  4. #124

    Default GBP/USD Technical Analysis: September 19 2016

    The issue about the next cut rate of the BoE resulted the pound to hover within the pressured area. According to BoE, the cut rate will aid the improvement of the country's economy.

    The sterling and dollar recorded a negative balance on Friday. Bearish investors were able to steer the market. GPB/USD had lose its winning track and crossed the 1.3200 level and hit the level of 1.3100 during the closed out trade. The pair as presented in the 4-hour lies below the 50, 100 and 200 EMAs. The overall direction moving averages 50, 100 and 200 are descending.

    The resistance of the pair is 1.3100,the support is identified at 1.3000. MACD indicated a negative downtrend and remained at its current level which affirmed the seller's strength. RSI represented an oversold condition.
    Andrea ForexMart, Official Representative


  5. #125

    Default EUR/USD Technical Analysis: September 20 2016

    Earlier on Friday the dollar demonstrated a sluggish performance because of the progressive US Statistics data which allowed another session for the Fed rate hike for this month.

    The technical pattern determined a moderate bearish position. The euro and dollar are able to reach 1.1130 level of support. The EUR/USD price climbed toward the 1.1200 level which build up a selling pressure. The 4 hour chart illustrated the crossing of the 50-EMA over the 100-EMA in a downward direction, both EMAs are pared down while the 200 EMA sustained a neutral position.

    The pair's resistance comes up at 1.1200, support occupied the level of 1.130.

    MACD carried a negative trend which indicated strength for the sellers. RSI drawn on the area of the oversold status.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh420-png 
    Andrea ForexMart, Official Representative


  6. #126

    Default Technical Analysis for GBP/USD: September 23, 2016

    The cable pair GBP/USD bounced back to trade at 1.3013 after dropping to its 1-month low at 1.2946 during Wednesdayís trading session. The cable pair then went down slightly at 1.2954 before finally rallying at 1.3046 after the Federal Reserve chose to maintain its previous interest rates.

    The GBP/USDís rally from Julyís new low in 31 years at 1.2798 from its previous value of 1.3481 indicates that the downward trend is a mere temporary low. Meanwhile, the consecutive value swings suggest a possible triangle unfolding with a-leg terminus at 1.3481, a b-leg trough at 1.2865, and Septemberís highest increase at 1.3445 points pinpoints the c-leg terminus while the d-leg would go over 1.2865 points, inducing a final rebound at the e-leg before the downward trend reappears.

    The rebound of the cable pair during the last trading session from its monthly low at 1.2946 indicates that the dropping trend will only be temporary since this particular drop was accompanied by bullish convergences on the 1-hour indicators and will likely gain further to trade at 1.3137 points next week, going over 1.3092 points.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh423-png 
    Andrea ForexMart, Official Representative


  7. #127

    Default EUR/USD Technical Analysis: September 26, 2016

    The EUR/USD went up higher during Fridayís trading session as the USD further weakened after the Fedís decision to maintain its current interest rates. The Markit PMI also went out lower than expected after it took the bulk of the earlier increases in the USD. Resistance levels are currently on the downward side after coming out within the 1.1290 range. Support levels are currently near the 10-day moving average at 1.1206 points.

    US Markit PMI data dropped by 0.6 points to go out at 51.4 points for September following a 0.9 point drop to 52.0 points in August. Index is now ranging from 50.7-52.9 for 2016, with Septemberís levels going at 53.1 points. New index data showed a decrease to 51.0 points from last Augustís 52.7 points, its lowest level since December 2015. Manufacturing data also went out lower than expected as compared to similar technical readings of composite EU data.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh426-png 
    Andrea ForexMart, Official Representative


  8. #128

    Default Technical Analysis for USD/CAD: September 26, 2016

    The USD/CAD pair went down slightly last week, plummeting at 1.30 points. The currency pair then bounced back from the support barrier, and if the pair goes above the hammer formed then this would mean a very bullish sign for the USD/CAD, and the market would be able to go over the 1.35 trading range.

    The oil market is wielding its influence over the financial market, especially since the CAD has become a proxy currency for commodity traders. However, the oil market in general does not look very promising, and speculators are stating that it is only a matter of time before oil prices would take a turn for the worst. This might cause the USD to increase in relation to the CAD in the long-run.

    The market is generally expected to go above the 1.35-point level. However, investors are not expected this to occur anytime soon. Pullback levels might be able to offer some measure of projected value and support, given that the market stays above the 1.30 trading range. Buyers are expected to always return to the commodities market, and an upward pressure for the currency market is now felt especially for the possible breakout which could happen at any point now that the volume has returned to the foreign exchange market.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdcadh426-png 
    Andrea ForexMart, Official Representative


  9. #129

    Default Technical Analysis for EUR/USD: September 27, 2016

    The EUR/USD pair rallied up to 1.1278 during Mondayís trading session after positive US housing date enabled investors to avoid the advancement towards a major resistance range. US new home sales went down slightly in August, dropping at a 609,000 annual rate and decreasing by 7.6% as compared to the data last July, lower than the expected 8.6% decline. The USD was also strengthened by comments from the Fedís lacker which has stated that there is a strong possibility of an interest rate hike in December. Germanyís IFO survey has indicated that the business environment in the EU has increased significantly in September, going up to 109.5 from Augustís 106.2, with increase in both the expectations and assessments sector.

    The EUR/USD pair meanwhile continues to trade within its current range, suspending its recovery at main resistance levels, with a descent at 1.1615 points. The currency pair also experienced multiple intraday highs and lows within the 1.1280 trading range, and the upward potential will continue to be suspended as long as the price of the pair remains below 1.1280 points. Divergences can already be seen in the 4-hour chart, and the price continues to remain above a highly bullish 20 SMA which has already went above the 100 SMA. There is a high probability of a bearish trading session on Tuesday if there will be more decreases below the 1.1225 range. If the USD continues to strengthen, then there is a probable bearish trade point at 1.1160.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdtech27-png 
    Andrea ForexMart, Official Representative


  10. #130

    Default Technical Analysis for USD/JPY: September 27, 2016

    The Japanese yen strengthened in the middle of risk aversion and is remaining to be a safe haven currency after the Bank of Japanís statement that the central bank is preparing to implement additional regulations which are intended to increase inflation rates did not hinder the growth of the yenís value.

    The demand for the JPY was supported by the risk-off sentiment, with the price dropping from the present Asian high of 101.00 down to the immediate support level at 100.40 where there is a decreased downward pressure. The 50, 100, and 200 EMAs all declined while the moving averages all went lower in the 4-hour chart. Resistance levels are currently at 101.40 while support levels are at 100.40 points.

    The technical indicators for the currency pair are all on the downward trend. However, MACD levels are sustained at the same range which is indicative of positive sellers data. On the other hand, RSI continues to remain over the expected oversold area. The USD/JPY is generally facing a bearish stance, and a closing value at 100.40 might trigger losses and may bring down the pair to the 100.00 range. The USD/JPY may also experience a slight increase if the support for the pair is sustained.
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    Andrea ForexMart, Official Representative


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