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Thread: Daily Market Analysis from ForexMart

  1. #21

    Lightbulb Technical Analysis for USD/JPY: March 31, 2016

    The Japanese Yen expanded in today’s early trading as Fed chairwoman Janet Yellen’s dovish remarks on Tuesday prompted investors to sell their greenbacks. The currency pair hit a daily low of 112.25.

    Yellen’s speech on Tuesday to the Economic Club of New York said that caution must be exercised in hiking interest rates, lessening the possibility of a rate increase during Fed’s upcoming meeting in April. However, Yellen is optimistic on the growth of the US economy.
    The dollar experienced a rally in the past weeks due to other Fed officials’ hawkish statements that implied they are eyeing to raise the numbers.

    The speculation of a rate increase is now expected in Fed’s next meeting in June.

    Yellen’s announcement put the Bank of Japan (BOJ) in a more difficult position, which is battling stagnant deflation amidst strong currency. BOJ’s negative interest rates set in January did very little to help the situation.

    Eyes are now on BOJ Governor Haruhiko Kuroda to see what monetary tools he will use to ease the problem. The BOJ may be forced to further lower the interest rates during its policy meeting in April.

    The first support was at 111.82 and 111.26 subsequently. The first resistance was at 112.62 and 113.19 subsequently.

    The MACD indicator is in a positive location. The price is falling.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh431-png 
    Andrea ForexMart, Official Representative


  2. #22

    Lightbulb Technical Analysis for USD/CHF: April 1, 2016

    After Janet Yellen's speech which supported a discreet strategy towards the interest rates raising, the dollar fell in opposition to almost all currencies. Her comments were presumed by the investors as rhetoric which cause the stock market to grow.

    The price's first support occurs at 0.9580 and at 0.9500 subsequently. While it's first resistance resides at 0.9660 and at 0.9750 subsequently.

    A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a downward movement and the Kijun-sen forms a horizontal movement. The descending motion will remain until the price is below the Cloud.

    The MACD indicator is in a negative location. The price is declining.


    Daily Market Analysis from ForexMart-usdchfh401-png
    Andrea ForexMart, Official Representative


  3. #23

    Lightbulb Technical Analysis for NZD/USD: April 1, 2016

    The New Zealand dollar is maintaining a bullish trend against the US dollar despite lack of economic data released in recent days. It appears that the kiwi is only propped up by the dollar’s sell-off and not because of strong economic performance.

    The Reserve Bank of New Zealand (RBNZ) slashed interest rates in early March. Talks of another rate cut is rife as the RBNZ’s policy meeting in April comes nearer.

    The bird landed at a daily low of 0.6890 in earlier session but has since bounced back to its days-long attempt of beating the 0.69 level and possibly hover pips below 0.70.

    Employment data from the US is scheduled to be released later this session.

    The first support is at 0.6853 and 0.6818 subsequently, while the first resistance is at 0.6939 and 0.6973 subsequently.

    The MACD indicator is at a positive level. The price is declining.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdh401-png 
    Andrea ForexMart, Official Representative


  4. #24

    Lightbulb Technical Analysis for GBP/USD: April 5, 2016

    In the midst of the Construction Sector increase, the Gross Domestic Product of the UK in Q4 was re-assessed upwards. The business activity index occurs at 54.2 contrary to the reported 54.0 which is more than expected. The increase of the pair was finite due to fears about Brexit and the market could not disregard the probable demand on the oil market. The activity of the GBP/USD pair was merely influenced by the oil price.

    The first support of price occurs at 1.4240 and at 1.4160 subsequently. The first resistance lies at 1.4320 and at 1.4400 subsequently.

    The price is along the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen forms a descending movement and the Kijun-sen displays a horizontal motion creating a "Dead Cross".

    The MACD indicator is in a neutral location. The price is revising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh405-png 
    Andrea ForexMart, Official Representative


  5. #25

    Lightbulb Technical Analysis for GBP/USD: April 7, 2016

    Initially, the main drivers for the pound/dollar pair firstly, is an escape from risks, second is decline in oil prices and lastly is the poor Service PMI in the country. In March the index increase to 53.7 from 52.7 when the market was expecting an increase to 54,0. Apparently, the descending movement was also in the Bonds Market which made the 10-year UK government bonds yield to diminish. The Sterling grew by the end of the trades.

    The first support occurs at 1.4080 and at 1.4000 subsequently. The first resistance lies at 1.4160 and at 1.4240 subsequently.

    A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen and the Kijun-sen form a descending movement. The descending movement will remain until the price is below the Cloud.

    The MACD indicator is in a negative location. The price is rectifying.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh407-png 
    Andrea ForexMart, Official Representative


  6. #26

    Lightbulb Technical Analysis for NZD/USD: April 7, 2016

    The New Zealand dollar is gaining against the greenbacks after the Federal Reserve indicated that an interest rate increase is highly unlikely this month. The kiwi dollar posted gains hours before the release of Fed’s minutes of its last meeting.

    The minutes was released today and showed that the majority of the board members agree that rate hikes should be approached with caution, sending the US dollar to bearish territory after a slight recovery in earlier sessions.

    The Global Dairy Trade (GDT) price index released on Wednesday was also a good news for the bird especially for New Zealand’s main export, whole milk powder, whose prices rose by 1.5 percent. Cheddar prices also moved up by 10.5 percent. The entire GDT index climbed by 2.1 percent after last reading’s 2.9 percent fall.

    China, New Zealand’s largest trading partner, will release trade data and its Q1 GDP next week. This will inject further volatility into the kiwi dollar.

    The pair is now trading at a range of 58 pips. The first support is at 0.6799 and 0.6765 subsequently. The first resistance is at 0.6868 and 0.6902, subsequently.

    The MACD indicator is in a neutral position. The price is rising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdh407-png 
    Andrea ForexMart, Official Representative


  7. #27

    Lightbulb Technical Analysis for GBP/USD: April 11, 2016

    The UK investors were perturbed by the poor macroeconomic data. Because of the seasonal correction which came at 1.1%, The Manufacturing Production for February decreased wherein it was way farther than the reported 0.2%. Moreover, from 12.16 billion pounds in January to 11.96 billion pounds in February, the Britain Trade Balance Deficit lessened.

    The first support occurs at 1.4080 and at 1.4000 subsequently. The first resistance lies at 1.4160 and at 1.4240 subsequently.

    A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a descending movement and the Kijun-sen forms a horizontal motion. The descending movement will remain until the price is below the Cloud.

    The MACD indicator is in a negative location. The price is retrieving.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh411-png 
    Andrea ForexMart, Official Representative


  8. #28

    Lightbulb Technical Analysis for EUR/USD: April 11, 2016

    The Euro recorded a yearly high of 1.1453 on Sunday after the European Central Bank (ECB) revealed that the board is leaning to another rate cut. The pair is now trading within a range of 1.1395 and 1.1427.

    The exchange rate is hovering just above 1.14 level at 1.1411.

    The central bank has slashed interest rates to -0.4 percent in early March as it struggles with a negative inflation rate of -0.1 percent, a far cry from the bank’s target of almost 2 percent.

    During his speech on Thursday, ECB president Mario Draghi reiterated that they are willing to do “whatever is needed” to lift inflation which is not expected to hit the target until 2018. The central bank will hold a policy meeting on April 21.

    Meanwhile, the USD is still weak after Fed implied that a rate increase is unlikely in the upcoming policy meeting. Fed Dallas’ president Robert Kaplan will participate in a question-and-answer session later today and we are waiting for hints of the bank rate’s possible future.

    This week is packed with many entities publishing economic reports. US retail sales will be revealed on Wednesday and the consumer price index of the US and Eurozone will be published on Thursday.

    Germany, France, and Spain will also release data after data later this week.

    The first support is at 1.1373 and 1.1316 subsequently, while the first resistance is at 1.1444 and 1.1501 subsequently.

    The MACD indicator is in a positive location. The price is rising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh411-png 
    Andrea ForexMart, Official Representative


  9. #29

    Lightbulb Technical Analysis for AUD/USD: April 12, 2016

    The Aussie dollar rallied from a slight dip during earlier session and is now at 0.7617 against the US dollar. The improvement was due to the National Australia Bank’s solid business confidence report.

    NAB revealed that the business confidence index grew to +6 in March from February's +3. According to survey results of more than 400 companies, business conditions increased to +12, the country’s best since 2008.

    The services industry was the strongest, followed by manufacturing, construction, and transport. The mining sector was still the weakest.

    Meanwhile, the USD still failed to recover after Fed’s decision to take a more cautious approach in tightening monetary policy.

    AUD is now testing 0.77 levels. The upcoming release of Australia’s unemployment rate this week and China’s dataflow is expected to sway investor sentiment next.

    The first support is at 0.7562 and 0.7524 subsequently. The first resistance is at 0.7666 and 0.7704 subsequently.

    The MACD indicator is in a negative position. The price is rising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh412-png 
    Andrea ForexMart, Official Representative


  10. #30

    Lightbulb Technical Analysis for NZD/USD: April 12, 2016

    The NZD/USD extended gains to an intraday high of 0.6885 assisted by a soft USD and a pickup in global commodity prices.

    The Real Estate Institute of New Zealand (REINZ) showed that the number of houses sold in March saw an 8.2 percent year-on-year increase, breaking the record set in March 2007. Property prices also grew by 4.2 percent year-on-year.

    The Reserve Bank of New Zealand has been keeping a watchful eye on the real estate market amidst worries that lenders will be in trouble once the gains subside.

    Apart from this, the bird is on a quiet flight until the release of the Food Price Index later today which will give a hint on the inflation rate.

    The MACD indicator is in a neutral position. The price is increasing.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdh412-png 
    Andrea ForexMart, Official Representative


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