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Thread: Daily Market Analysis from ForexMart

  1. #31

    Lightbulb Technical Analysis for EUR/USD: April 13, 2016

    The Euro was clipped during Wednesday’s session after the International Monetary Fund commented, for the first time, about the enormous damage of the United Kingdom’s possible exit from the European Union.

    Trading at a narrow range of 1.1342 to 1.1393, the Euro continues to drop against a slightly stronger USD which was lifted by higher crude oil prices. The US will release its retail sales and crude oil data later today.

    The first support is at 1.1306 and 1.1249 subsequently. The first resistance is at 1.1426 and 1.1483 subsequently.

    The MACD indicator is in a neutral position and the price is decreasing.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh413-png 
    Andrea ForexMart, Official Representative


  2. #32

    Lightbulb Technical Analysis for USD/JPY: April 14, 2016

    There were two reasons which caused the yen to put under pressure. Firstly, it was because it cannot withstand the development of Nikkei and the last thing is, its fall is an aftermath of the statement of Japanese Ministry which regards to the probable action launching that is intended to restrict the inflation of the national currency.

    The first support occurs at 109.00 and at 108.20 subsequently. The first resistance resides at 109.80 and at 110.60 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 creates an ascending 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-usdjpyh414-png 
    Andrea ForexMart, Official Representative


  3. #33

    Lightbulb Technical Analysis for AUD/USD: April 14, 2016

    Upbeat labor data failed to lift the AUD above 76 cents against the USD. The Australian dollar opened at 0.7654 and hit a day low of 0.7619 in later session.

    The first support is at 0.7602 and 0.7563 subsequently. The first resistance is at 0.7685 and 0.7724 subsequently.

    The dip comes after the Australian Bureau of Statistics revealed positive employment figures, most of it surpassing projections. The unemployment rate in March was at 5.7 percent, 0.1 percent lower than February’s 5.8 percent. Analysts expected it to increase to 5.9 percent in March.

    This is the lowest unemployment rate since September 2013. According to employment minister Michaelia Cash, the number of working people increased 2.2 percent, while the unemployed fell by 4.6 percent in the past 12 months. Furthermore, 26,100 jobs were also added, topping an estimated 20,000 additional jobs.

    The report also showed that people scored more part-time jobs as it increased by 34,900, a 10-month high, while full-time jobs dwindled by 8,800. Participation rate rose by 0.9 percent.

    However, investor sentiment was unfazed as more sold their AUD for a slowly recovering greenback despite US retail sales in the red. The US inflation report will be published later today.

    The MACD indicator is in a negative position. The price is decreasing.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh414-png 
    Andrea ForexMart, Official Representative


  4. #34

    Lightbulb Technical Analysis for GBP/USD: April 15, 2016

    The repercussions of three days imposing increase of the pound/dollar was it has initiated rectification. The Bank of England has announced its minutes and the interest rate decision wherein the rate was kept at the same level. The unpredictability of the Brexit caused the currency to remain under pressure.

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

    The price is in the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a horizontal movement and the Kijun-sen forms an ascending movement which creates a "Dead Cross".

    The MACD indicator is in a neutral location. The price is retrieving.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh415-png 
    Andrea ForexMart, Official Representative


  5. #35

    Lightbulb Technical Analysis for NZD/USD: April 18, 2016

    The bird reached a high of 0.6939 in early trading after the Statistics New Zealand released the consumer price index (CPI) for the first quarter of the year on Sunday.

    The CPI was on the upside at an increase of 0.2 percent as it surpassed analysts’ forecast of 0.1 percent, recovering from 0.5 percent fall in the last quarter of 2015. The index grew by 0.4 percent from the same period last year, which only rose by 0.1 percent.

    Cigarettes and tobacco had the biggest contribution as prices surged by 9.4 percent, while oil prices dropped by 7.7 percent. The upbeat CPI will most likely relieve some pressure on the Reserve Bank of New Zealand (RBNZ) to not rush the next rate cut in April.

    Although the kiwi dollar has recovered its losses during the weekend, its gains against the USD are still inconsistent as we saw it hit an intraday low of 0.6883. The pair is now trading at a wide range of 0.6849 to 0.6940.

    The first support is at 0.6881 and 0.6847 subsequently. The first resistance is at 0.6968 and 0.7003. The MACD indicator is in a neutral position. The price is rising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdh418-png 
    Andrea ForexMart, Official Representative


  6. #36

    Lightbulb Technical Analysis for GBP/USD: April 20, 2016

    The probability of a rate hike was lessened by the Bank of England which may cause the pound to stay unstable. The English regulator dwelt the risks for the country economy when Brexit takes place amidst decision-making regarding the interest rates last week. Mark Carney stated on Tuesday that the effect of Brexit would not be sustainable and it would cause a financing of the payment balance more pricey.

    The first support occurs at 1.4320 and at 1.4240 subsequently. The first resistance stands at 1.4400 and at 1.4480 subsequently.

    A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen displays an ascending movement and the Kijun-sen forms a horizontal motion creating a "Golden Cross". The ascending movement will remain until the price is over the Cloud.

    The MACD indicator is in a positive location. The price is growing.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh420-png 
    Andrea ForexMart, Official Representative


  7. #37

    Lightbulb Technical Analysis for EUR/USD: April 20, 2016

    Despite a more positive than expected ZEW Economic Sentiment in the Eurozone, the Euro still failed to break through the 1.14 levels although gaining against the dollar.

    Economic sentiment, which measures investors’ outlook for the economy, reached 21.5 in April from last month’s 10.6. Analysts predicted only 8.8 this month. The economic sentiment in Germany was released yesterday as well, surging to 11.2 from last month’s 4.3, eclipsing forecast of 8.0.

    The Euro is still trading within a narrow range of 1.1352 to 1.1375 and is 30 pips shy of reaching 1.14. The support is located at 1.1335 and 1.1235 subsequently, and the resistance is at 1.1420 and 1.1500 subsequently.

    European Central Bank (ECB) president Mario Draghi will announce the future of interest rates on Thursday, but it is expected that the bank will retain the current 0.25.

    On the other hand, the USD index fell due to housing data revealed to be below projections, hinting a downtrend in the real estate and construction sectors. Building permits issued was down to 1.086 million from 1.177 million, a 7.7 percent fall from the previous month. The number of houses that started construction also slumped to 1.089 million to 1.194 million yoy.

    As of time of writing, the EUR/USD is trading at 1.1368. The MACD indicator is at negative location and the price is rising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh420-png 
    Andrea ForexMart, Official Representative


  8. #38

    Lightbulb Technical Analysis for NZD/USD: April 20, 2016

    The pair is experiencing a retracement as the USD outperforms the NZD, halting the bird’s third consecutive day of uptrends. The kiwi dollar is trading just eight pips above the 0.70 handle as of time of writing.

    Data pointing to the opposite situation was released today. The GlobalDairyTrade(GDT) index rose by 3.8 percent from 2.1 percent. Whole milk powder, New Zealand’s biggest export goods, grew by 7.5 percent, while skim milk powder added 0.3 percent.

    Meanwhile, the US’ housing data tumbled with only 1.086 building permits issued from 1.777 million in the previous month. Housing starts skidded to 1.089 million from last year’s 1.194 million.

    The first support is at 0.6840 and 0.6656 subsequently. The first resistance is at 0.6926 and 0.7068 subsequently.

    The MACD indicator is in a positive location. The price is dropping.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdh420-png 
    Andrea ForexMart, Official Representative


  9. #39

    Lightbulb Technical Analysis for GBP/USD: April 21, 2016

    The GBP/USD strengthened as the pair positively increased earlier despite oil prices gains and the attraction in risky assets. The Brexit rivals count has been decreased. Perhaps, there had been a positive impact on the British people the deterrents of government lately regarding the immense effect of the country exit from the European Union.

    The first support occurs at 1.4320 and at 1.4240 subsequently. The first resistance resides at 1.4400 and at 1.4480 subsequently.

    A confirmed and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chikou Span. The Tenkan-sen displays an ascending motion and the Kijun-sen creates a horizontal movement. The ascending movement will remain until the price is over the Cloud.

    The MACD indicator is in a positive location. The price is correcting.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh421-png 
    Andrea ForexMart, Official Representative


  10. #40

    Lightbulb Technical Analysis for EUR/USD: April 22, 2016

    The Eurozone’s interest rate was kept parked at 0 percent, ECB president Mario Draghi said on Thursday. The announcement sent the Euro to the bulls but traders’ reaction quickly dissipated, sending the pair to 1.12 levels.

    Draghi dismissed reports that helicopter money will soon enter the picture, generally showing an upbeat look on the economy. He kept doors open for a negative interest rate in the future.

    Inflation was at 0 percent last month, largely missing ECB’s target of almost 2 percent. Draghi said that the inflation should rise before 2016 ends.

    The ECB president also responded to Germany’s criticisms on the former’s soft monetary policies.

    "We have a mandate to pursue price stability for the whole of the eurozone and not only for Germany alone,” he said.

    The market is now waiting for reactions from Fed.

    The MACD is currently below its 9-day EMA, reaching an intraday high of 1.1311. The spot rate is 1.1282 at the time of writing and is still declining. The pair is facing an immediate support at 1.129 and 1.1162, subsequently, while immediate resistance is at 1.1341 and 1.1397 subsequently.

    The Eurozone’s monthly manufacturing and services PMI are the next stimulus for the pair. Figures will be released later today.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh422-png 
    Andrea ForexMart, Official Representative


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