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Thread: Daily Market Analysis from ForexMart

  1. #71

    Default Technical Analysis for GBP/USD: May 26, 2016

    The decreasing doubts regarding the result of the referendum cause the pound to come nearly to its high for the week. The volume of Brexit opponents is 55% against 42% who want to exit the EU, according to the recent poll.

    The first support occurs at 1.4670 and at 1.4560 subsequently. The first resistance stands at 1.4760 and at 1.4880 subsequently.

    An inveterate and a solid buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chinkou Span. The Tenkan-sen ascends in movement and the Kijun-sen displays a horizontal movement creating a "Golden Cross". This activity 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-gbpusdh426-png 
    Andrea ForexMart, Official Representative


  2. #72

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

    The yen deprived from growing on Thursday. But as the corporate services price index grew, it heightened precociously. And as presumed, the Corporate Service Price index grew by 0,2% y/y. The USA presented the Durable Goods Orders wherein the data showed 0,4% against the expected 0,3% and Initial Jobless Claims which showed 268,000 against the report 275,000.

    The first support occurs at 109.00 and at 108.20 subsequently. The first resistance stands at 109.80 and at 110.60 subsequently.

    The price is in the Ichimoku Cloud and it is over the Chinkou Span. The Tenkan-sen and the Kijun-sen form a horizontal movement creating a "Golden Cross".

    The MACD indicator is in a neutral location. The price is consolidating.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh427-png 
    Andrea ForexMart, Official Representative


  3. #73

    Default Technical Analysis for AUD/USD: May 30, 2016

    AUD/USD is taking a beating after Fed Chairwoman Janet Yellen said that a rate hike is “appropriate in the next coming months,” fueling speculations of a rate hike in June’s monetary policy meeting.

    Bears are surrounding the Australian dollar as high it loses steam, trading at 0.7175 from last week’s 0.72 level. The MACD indicator is in neutral position.

    The first support occurs at 0.7065 and 0.6827, while the first resistance occurs at 0.7243 and 0.7331 subsequently.

    The pair is in for a volatile ride this week with a deluge of data coming from both sides. Australia’s Company Gross Operating Profits slowed down again to -4.7 percent in the first quarter after sliding by 3.6 percent in the fourth quarter of 2015. This indicates weakening profits of private firms.

    New home sales in April declined by 4.7 percent from the previous reading’s 8.9 percent increase. The country’s current account and number of building approvals will follow today, while trade balance, retail data, and GDP will be released on Tuesday.

    On the greenback’s side, consumer confidence and Core CPE Price Index will start the week of significant volatility, trailing to manufacturing PMI and nonfarm payrolls in the later part of the week. Several Fed officials are also scheduled to deliver speeches.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdd130-png 
    Andrea ForexMart, Official Representative


  4. #74

    Default Technical Analysis for EUR/USD: May 31, 2016

    Upbeat data from Eurozone’s two biggest economies helped cushion the blow of a firming USD against the Euro as the bloc currency records session highs, although the pair is still underperforming.

    Preliminary CPI of Germany, the EU’s largest economy, was in line with the forecast 0.3 percent growth from the previous reading’s decline of 0.4 percent. France, the second largest, recorded a higher-than-expected 0.6 percent GDP for the first three months of the year, beating the 0.5 percent expectations.

    The Eurozone Economic Sentiment report also showed that consumers have a positive outlook on the economy. It printed 104.7 points in May, up from 104.0 last month.

    However, these are not enough to offset the bulls surrounding the USD after the Fed Chairwoman herself said that a rate hike is appropriate given the US’ economic conditions.

    The pair is now trading at 1.1149, peaking at 1.1156 in early European session. The first support is at 1.1067 and 1.0937 subsequently. The first resistance is at 1.1215 and 1.1357 subsequently.

    The MACD indicator is in negative position. The price is rising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh431-png 
    Andrea ForexMart, Official Representative


  5. #75

    Default Technical Analysis for EUR/USD: June 1, 2016

    This week's primary event would be the conference of the ECB in the Eurozone. There are assumptions that the European regulator will leave its monetary policy unchanged.

    The currency pair tried to regain on Tuesday. The resistance occurs at 1.1200 while the support stands at 1.1130.

    The MACD indicator is in a negative location which signifies to sell. Meanwhile, the RSI is in a neutral zone which does not provide clear signals.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh401-png 
    Andrea ForexMart, Official Representative


  6. #76

    Default Technical Analysis for GBP/USD: June 1, 2016

    The pound managed to recover from its lows. Generally, the dollar stayed solid contrary to the pound as an aftermath of Janet Yellen's speech last Friday. The market hopes for new drivers for a further activity.

    The resistance occurs at the level of 1.4560 while the support stands at 1.4480.

    The MACD indicator is in a negative location which signifies to sell. Meanwhile, the RSI indicator is near to the oversold zone.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh401-png 
    Andrea ForexMart, Official Representative


  7. #77

    Default Technical Analysis for EUR/USD: June 6, 2016

    The poor data of Non-farm Payrolls could be a factor of the Fed rate hike delay. The EUR/USD pair bounced up last Friday. It surpassed the levels of 1.1200, 1.1250 and 1.1300 and reached the level of 1.3730. This cause the pair to look bullish.

    The resistance occurs at the level of 1.1370 while the support stands at 1.1300.

    The MACD indicator is in a positive location, which signifies growth and is bullish. The RSI approached the overbought level of 70.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh406-png 
    Andrea ForexMart, Official Representative


  8. #78

    Default Technical Analysis for AUD/USD: June 7, 2016

    The Aussie dollar is holding on to the bulls with the latest decision from the RBA to keep interest rate at 1.75 percent, a widely-expected move based on strong economic indicators. The AUD/USD is trading at 0.7441 and rising.

    The first support is seen at 0.7312 and 0.7167 subsequently while the first resistance is at 0.7530 and 0.7649 subsequently.

    Australia’s GDP rose by 1.1 percent in the first quarter of 2016, with an annualized growth of 0.2 percent, the quickest in four years. However, RBA Governor Glenn Stevens said that low inflation and an appreciating domestic currency may pose greater risks to the economy. The RBA board expect inflation, which is at an annual rate of 1.3 percent, to reach their target of 2 to 3 percent.
    A suddenly dovish Yellen is hurting the USD which rallied last week after a rate hike becomes more possible at Fed’s policy meeting in June.

    The MACD indicator is in positive location. The price is climbing.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh407-png 
    Andrea ForexMart, Official Representative


  9. #79

    Default Technical Analysis for NZD/USD: June 9, 2016

    The RBNZ propelled the NZD to a 12-month high, pushing it through 0.71 levels against the USD after the central bank’s decision to keep interest rates at 2.25 percent. The bird has been hovering at 69 cents for quite a long time.

    Reserve Bank Governor Graeme Wheeler left the door open for monetary easing and promised it to be “accommodative.” The central bank is specially keeping an eye on low inflation and expects it to firm and reach their target in the long term, although short-term inflation has been steady.

    “We expect inflation to strengthen reflecting the accommodative stance of monetary policy, increases in fuel and other commodity prices, an expected depreciation in the New Zealand dollar and some increase in capacity pressures,” the bank said in a statement.

    Uncertainty in the bank’s statements are keeping us from declaring the upside bullish, but a rate above 0.7146 will shift our outlook to a bullish one. NZD/USD is currently trading at 0.7125.

    The first support is at 0.6960 and 0.6910 subsequently, while the first resistance occurs at 0.7045 and 0.7080 subsequently. The MACD indicator is in positive location. The price is rising.
    Attached Images Attached Images Daily Market Analysis from ForexMart-nzdusdh409-png 
    Andrea ForexMart, Official Representative


  10. #80

    Default Technical Analysis for EUR/USD: June 13, 2016

    The Euro is holding onto 1.12 cents against the USD, effectively avoiding a bearish trend but keeping the risks on the upside. Pro-Brexit campaigns are gaining, questioning the stability of the European Union.

    It’s a quiet day for the EUR/USD, but Tuesday will bring in trade data from Spain and Italy followed by France on Wednesday. The region’s trade balance is on the radar on Thursday, as well as inflation.

    The USD is posting gains against its major peers due to bullish initial jobless claims late last week, reversing losses from dismal nonfarm payrolls in the beginning of the month. This week’s highlight is Fed’s interest rate decision which is expected to remain at 0.5 percent, although some investment firms are forecasting a rate cut.

    The pair is trading within a 50-pip range and is currently at 1.1261. The price is climbing.

    The first support is at 1.1216 and 1.1179 subsequently. The first resistance is at 1.1299 and 1.1327 subsequently. The MACD indicator is in positive location.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh413-png 
    Andrea ForexMart, Official Representative


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