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Thread: Daily Market Analysis from ForexMart

  1. #51

    Lightbulb Technical Analysis for GBP/USD: May 4, 2016

    Declining to its bottom-most level since February 2013, the Markit Manufacturing PMI in the UK modulated to 49.2 in April. This data was lower than the re-assessed value of 50.7 in March and below the economists' expectation of 51.2. The Manufacturing is still one of the most unpredictable sectors of the economy and still faces challenges including poor demand in the Asian markets and the slowing down of the euro area.

    The first support occurs at 1.4480 and at 1.4400 subsequently. The first resistance stands at 1.4560 and at 1.4670 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 and the Kijun-sen display a horizontal motion. The ascending movement will remain until the price is on top of the Cloud.

    The MACD indicator is in a positive location. The price is strengthening.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh404-png 
    Andrea ForexMart, Official Representative


  2. #52

    Lightbulb Technical Analysis for AUD/USD: May 5, 2016

    Favorable market data trimmed the Aussie dollar's losses and bounced it back to 0.75 handle in the early session.

    Australia's statistics bureau revealed on Wednesday that retail sales gained 0.4 percent in March from February's 0.1 percent, topping a projected 0.3 percent growth. However, retail sales for the first quarter only rose by 0.5 percent, just 0.2 points shy of analysts' 0.7 percent expectations. Retail sales in Q4 of 2015 was 0.6 percent.

    But the upbeat data still failed to propel the once-glowing USD to 76 cents. AUD/USD is currently trading at 0.7492, struggling to break through 0.75 level, although it reached an intraday high of 0.7515 before sinking back down.

    Scott Morrison, Australia's treasurer, said on Thursday that RBA deputy governor Philip Lowe will take Glenn Stevens' place as governor on September 18. Lowe will fill the post for seven years.

    The first support occurs at 0.7416 and 0.7379. The first resistance is at 0.7488 and 0.7525. The MACD indicator is in negative location. The price is increasing.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh405-png 
    Andrea ForexMart, Official Representative


  3. #53

    Lightbulb Technical Analysis for AUD/USD: May 6, 2016

    The anticipation for the US’ nonfarm payrolls blocked the AUD’s slight uptrend on Thursday session, sending it down to slump at 0.73. The current spot exchange is 0.7372. A decline in crude oil prices and the RBA’s statement of monetary policy (SOMP) released today tightened the bears’ grip on the AUD/USD.

    After the RBA slashed interest rates to 1.75 percent on Tuesday, its SOMP revealed further cuts on inflation forecasts. From the previous estimate of 2 to 3 percent growth, the RBA lowered its projection for the 2016 to just 1 to 2 percent. The central bank is aiming for a 2 to 3 percent inflation rate by the end of the year.

    Forecasts for the next two years’ inflation were also revised down to 1.5 to 2.5 percent from the initial 2 to 3 percent. RBA’s statements indicated another possible rate cut.

    The MACD indicator is in a negative location. The first support is at 0.7459 and 0.7422 subsequently. The first resistance is at 0.7522 and 0.7560 subsequently. The price is falling.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh406-png 
    Andrea ForexMart, Official Representative


  4. #54

    Lightbulb Technical Analysis for GBP/USD: May 6, 2016

    The sterling hardly reached the 1.45 level when dismal figures on the UK’s services sector was released. GBP/USD retreated to 1.44 levels and bottomed at 1.4456. The current exchange rate is 1.4496.

    The service industry’s purchasing managers index (PMI) slimmed to 52.3 in April from the previous month’s 53.7, recording the softest PMI in three years. Economists expected a 53.5 growth. Traders are closely watching for the NFP data from the US which will help decide the Fed’s next move on its interest rates.

    The first support is at 1.4442 and 1.4403 subsequently while the first resistance is at 1.4494 and 1.4496 subsequently. The MACD indicator is in neutral location. The price is increasing.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh406-png 
    Andrea ForexMart, Official Representative


  5. #55

    Lightbulb Technical Analysis for AUD/USD: May 10, 2016

    The AUD/USD has now settled at the 0.73 handle as data from China, Australia’s largest trade partner, did little to boost the Australian dollar’s value against the greenback. The AUD bottomed at 0.7299 today and peaked at 0.7351.

    The impact of China’s bearish consumer prices, which grew by 2.3 percent in April from the same period last year, was lukewarm. Markets were expecting a 2.4 percent rise. Its PPI fell by 3.4 percent, not as much as the forecasted 3.8 percent decline. Exports and imports, which stood at -1.8 percent and -10.9 percent y/y respectively, were also on the red.

    Buying interest on the USD firmed slightly due to an increase in wages, which was up 0.3 percent m/m in April and 2.5 percent y/y. Only 160,000 jobs were added to the nonfarm payrolls opposed to a projected 202,000 additional positions.

    The spot exchange is now at 0.7339 and the price is rising. However, we are yet to see the AUD breach 0.74 today.

    The immediate support is at 0.7272 and 0.7236 subsequently while the first resistance is at 0.7364 and 0.7397 subsequently. The MACD indicator is in a negative location.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdda10-png 
    Andrea ForexMart, Official Representative


  6. #56

    Lightbulb Technical Analysis for NZD/USD: May 10, 2016

    The NZD/USD is showing a shaky flight as the USD rallies despite muted nonfarm payrolls released last week. China’s modest CPI and PPI lifted the bird slightly, although not enough to push the kiwi above 0.6780, its intraday high.

    Traders are going short on the NZD with little impetus coming this week. The Reserve Bank of New Zealand will publish its biannual Financial Stability Report later today followed by Governor Graeme Wheeler’s remarks.

    We will scout for foreshadowing in Wheeler’s speech that may indicate the next route of the central bank’s interest rate. Retail sales will follow on Thursday.

    The pair is now at 0.6741 and is continuing to decline. The MACD indicator is in a negative location.

    The first support occurs at 0.6723 and 0.6689 subsequently while the first resistance occurs at 0.6809 and 0.6843 subsequently.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdda10-png 
    Andrea ForexMart, Official Representative


  7. #57

    Lightbulb Technical Analysis for USD/JPY: May 12, 2016

    The increase of risk appetite caused a positive effect on investor's sentiment. As a funding currency, the yen were pressured by the optimism showed by the leading stock exchanges. However, the US and Japanese government bonds yield differential had been decreasing for many consecutive trading days. The dollar/yen pair decreased by the end of the trades.

    The first support occurs at 108.20 and at 107.40 subsequently. The first resistance stands at 109.00 and at 109.80 subsequently.

    The price is in the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen displays a descending movement and the Kijun-sen forms a horizontal movement. The MACD indicator is in a positive location. The price is consolidating.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh412-png 
    Andrea ForexMart, Official Representative


  8. #58

    Lightbulb Technical Analysis for GBP/USD: May 13, 2016

    The significant event on Thursday was the inflation report of the Bank of England. As we have expected, the Central Bank statements about the economy and the inflation increase were quite negative. The rate remained unmodified by the UK regulator at the level of 0,5%.

    The first support occurs at 1.4400 and at 1.4320 subsequently. The first resistance stands at 1.4480 and at 1.4560 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 horizontal motion and the Kijun-sen forms a descending movement creating a "Golden Cross". The descending movement will remain until the price is below the Cloud.

    The MACD indicator is in a negative location. The price is declining.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh413-png 
    Andrea ForexMart, Official Representative


  9. #59

    Lightbulb Technical Analysis for USD/JPY: May 16, 2016

    The Service Sector activity in Japan has reduced more than expected last month. Tertiary Industry Index seasonally corrected displayed -0,7% contrary with -0,1% in the recent month. The experts anticipated a decrease to -0,2%.

    The first support occurs at 108.20 and at 107.40 subsequently. The first resistance stands at 109.00 and at 109.80 subsequently.

    The price is in the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen forms a horizontal movement and the Kijun-sen displays an ascending movement.

    The MACD indicator is in a positive location. The price is consolidating.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh416-png 
    Andrea ForexMart, Official Representative


  10. #60

    Lightbulb Technical Analysis for EUR/USD: May 17, 2016

    We have not heard any significant news last Monday. Since it was the Day of the Holy Spirit, most of the European markets were closed to celebrate the event. Meanwhile, in the Bonds Market, the 10-year government bonds yield in Germany decreased which also lessen the charm of the European assets.

    The first support occurs at 1.1260 and at 1.1150 subsequently. The first resistance lies at 1.1350 and at 1.1450 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 creating "Dead Cross". The descending movement will remain until the price is below the Cloud.

    The MACD indicator is in a negative location. The price is declining.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh417ic-png 
    Andrea ForexMart, Official Representative


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