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Thread: Daily Market Analysis from ForexMart

  1. #81

    Default Technical Analysis for GBP/USD: June 14, 2016

    Economic data coming this week are overshadowed by a gaining Brexit campaign. Research firm ICM’s latest survey showed the Team ‘Leave’ six points ahead, shaking the strength of the GBP which has been experiencing volatility in recent months.

    GBP/USD took a tumble in early session but has been playing teeter totter with each other. USD is on a volatile ride as well with the upcoming FOMC meeting on Wednesday. Thursday will see the Bank of England announce its interest rate decision that may help push the sterling to bullish territory.

    The pair is trading at a wide range between 1.3839 and 1.5931 on the daily charts.

    Traders are closely watching public opinion on the Brexit. Little impact is expected from the CPI and PPI today as well as from the unemployment rate on Wednesday.

    The first support is at 1.3839 and 1.3724. The first resistance is at 1.4232 and 1.4300. The MACD indicator is in negative position. The spot exchange is 1.4130 and continues to slide.
    Attached Images Attached Images Daily Market Analysis from ForexMart-gbpusdh414-png 
    Andrea ForexMart, Official Representative

  2. #82

    Default Technical Analysis for GBP/USD: June 20, 2016

    The pound is keeping its strength against most of its counterparts as it enters the week of the EU referendum. Bulls are protecting the sterling as buying interest continue to increase. GBP/USD has broken through 1.46 cents and has shown no solid sign of a downtrend.

    The pair surpassed numerous resistance but bottomed at 1.4359 today. It then reached a high of 1.4672. The spot exchange is now at 1.4626, and can break into 1.47 levels in the near term with a switch in public sentiment. Polls show that voters are shifting their support towards the “Remain” campaign.

    The MACD indicator is in neutral location and we are expecting further price increase as bears fail to take the pair.
    Andrea ForexMart, Official Representative

  3. #83

    Default Technical Analysis for AUD/USD: June 21, 2016

    The Aussie dollar is benefiting from a volatile sterling and euro as investors seek a safe heaven in the AUD. The RBA meeting minutes headlined the impetus this week. The Board implied the importance of a weak domestic currency to support Q2 and Q3’s GDP growth. However, the minutes did not have a significant impact on the AUD/USD.

    Australia’s house price index printed surprising numbers, declining by 0.2 percent in the first quarter of the year compared to the previous quarter’s 0.2 percent growth. Analysts expected a 0.8 percent rise in Q1.

    Although AUD/USD is trading at 0.7487, the upsurge is limited due to easing commodity prices. The USD has been fairly quiet and is waiting for Yellen’s statement later on the semi-annual monetary policy report.

    The first support can be found at 0.7454 and 0.7413 subsequently. The first resistance is at 0.7500 and 0.7550. The MACD indicator is positive location and the price is rising. However we are not expecting the AUD to break into the 0.75 level anytime today.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh421-png 
    Andrea ForexMart, Official Representative

  4. #84

    Default Technical Analysis for EUR/USD: June 30, 2016

    Followed by the Consumer Confidence report in the Eurozone, the euro currency has not made any alteration with its positions. Concurrently, the ECB will not whisk with the further monetary policy easing. There should be a proof that the economy of the Eurozone is declining before it implements any action.

    Slowly, the euro managed to step up continuously. It is showed in the 4-hour chart that the instrument stayed in a downside channel and the euro increased to its upper boundary. The pair was likely to regain 0.47% and has made a new local high at 1.1130. The resistance occurs at 1.1130 while the support stands at 1.1000.

    The MACD indicator was kept standing on a negative location while its histogram increased. The indicator will also give buy signals while its histogram increases. RSI indicator is in an impartial location and its growth from the oversold area is a buy signal.

    The price is under the Moving Averages (50, 100 and 200) which goes downwards indicating a sell signal. The 200-day moving average is a sturdy resistance for the euro which it touched yesterday. The EUR/USD tries to revert into the ascending channel on the daily chart.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh430-png 
    Andrea ForexMart, Official Representative

  5. #85

    Default Technical Analysis for USD/JPY: July 4, 2016

    The Japanese government believed that the cause of the household spending enfeeblement in May was the continuous breakdown of the consumer prices. This event leads to a further compression to the Bank of Japan which is discontented with the present sinewy of the Japanese yen.

    The instrument reduced from a local high. The pair is directed to revert under 102.50. The resistance occurs at 103.50 while the support resides at 102.50.

    We should notice that the expansion of the MACD indicator decelerated. It has stayed in the negative location which signifies a sell signal. Meanwhile, the RSI is in a neutral location and doesn't provide any signals. The USD/JPY pair is under the Moving Averages (50,100 and 200) which goes on a descending movement. The pair tested the 50-day movement and slip downwards. The 50-day movement is the nearest resistance for the pair.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh404-png 
    Andrea ForexMart, Official Representative

  6. #86

    Default Technical Analysis for AUD/USD: July 11, 2016

    After the issuance of the monthly report for the non-farm payroll data, the AUD/USD pair quickly had a rise in price movement. Due to its strong report the Australian Dollar attracted more investors as presented in the daily swing chart. Technically, the pair demonstrated a horizontal price movement for the past few days near 50% levels. The main range is defined from .7285 to .7645 while reaching its 50% level that is .7465. At the same time, the short-term range had a moving average from .7645 to .7301. Its 50% level falls at .7473. If the two 50% levels is combined, the .7473 and .7465 will create a strong trend that would prevail on the existing market movement.

    A strong move over .7571 will predict a downward change in value which is .7535 by which it would give a signal to the buyers. The angle of the moving average under .7571 will call the attention of the currency sellers. Long term investors should be cautious in dealing with this price since it is the trigger point of the potential targets .7573 and .7565. Traders are suggested to develop the sustained move above .7571 through a sharply bullish tone.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh411-png 
    Andrea ForexMart, Official Representative

  7. #87

    Default AUD/USD Technical Analysis: July 13 2016

    AUD/USD recorded its highest stock price on May 3. But today the pair obtained a lower rate after a growth surge that happened yesterday. The recent strength of the market's trend was remarked by the appetite for risk in the global economy.

    The Aussie Dollar has improved since the Reserve Bank of Australia reduced interest rates and they are now regenerating all their losses during the post-Brexit.

    The daily swing chart defined the pair's main trend as an uptrend and made it cut down the Brexit top that changed the .7645 into .7285 as the market bottom.

    The main price range is .7834 to .7145. The retracement alert level is close above .7569 to .7487, this shows a chance of an upside strengthening.

    The market movement occurred to an uptrending angle at .7665 by which it is close to the result of yesterday’s strength at .7622.

    Meanwhile, AUD/USD may take a bullish or long position in certain securities due to a sustained market movement over .7665 and this would probably begin an upside momentum to rotate the downtrending angle at .7687.

    Technically, it is difficult to deal with .7665 and coping with this real time exchange rate will signal the presence of more sellers than buyers. If the price continued a downward sloping average below .7539, it indicates weakness for the next target.
    Attached Images Attached Images Daily Market Analysis from ForexMart-audusdh413-png 
    Andrea ForexMart, Official Representative

  8. #88

    Default Technical Analysis for USD: July 15, 2016

    The US Dollar has been struggling to make a significant increase after the UK’s Brexit vote caused uncertainties in the international market. This absence of an upside signals that whatever the market is doing is not convincing investors to actually bid up with an asset that has an optimal fundamental backdrop.

    Only the AUD had a desirable post-Brexit run among the USD’s four counterparts, which includes EUR, GBP, and JPY. The AUD’s track record after Brexit can be proof that there are better options than the USD. The JPY experienced an upsurge at 98.77 after the Brexit announcement, but has since went down at ~106 JPY per USD. The GBP is experiencing an expected volatility but has somewhat become stable following the announcement of Theresa May’s appointment as UK’s new Prime Minister.

    The USD’s failure to find a break might make it hard for investors to make predictions on its direction, which can cast more ambiguities in one of the world’s principal currencies.
    Andrea ForexMart, Official Representative

  9. #89

    Default EUR/USD Technical Analysis: July 18, 2016

    Last Friday, the EUR/USD pair unexpectedly increased with an exchange rate of 1.0874 but experienced to have a reverse path today and formed a negative candle pattern with a price rate of 1.1067 . The pair continued to strike around within the consolidation period and it snap back in the bottom of 1.10 level and 1.12 level at the top. Short-term market rallies will continue to sell and offer various opportunities that support short-term charts.
    Attached Images Attached Images Daily Market Analysis from ForexMart-eurusdh418-png 
    Andrea ForexMart, Official Representative

  10. #90

    Default Technical Analysis for USD/JPY: July 19, 2016

    The USD/JPY pair clamped down an impressive pip average of 423 pips after the session closed down last week, the pair’s biggest weekly gain since October 2014. The pair doesn’t seem to be stopping these gains anytime soon, as this week’s opening proved to be favorable for the USD/JPY.

    Sentiment has experienced a downgrade and is in its lowest level since January 2016. Meanwhile the SSI also went down at +1.15, the lowest reading since January 31, 2016, entering short into the USD/JPY.

    The USD/JPY set its record of one of the highest pip sell off at 2,000 pips last January 2016. This sudden surge of the USD/JPY and a decrease in SSI readings might be even more favorable for traders if the prices can break newly-forming resistances.
    Attached Images Attached Images Daily Market Analysis from ForexMart-usdjpyh419-png 
    Andrea ForexMart, Official Representative

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