Forex Forum

Welcome Guest 

Show/Hide Header

Welcome Guest, posting in this forum requires registration.





Pages: First << 62 63 64 [65] 66 67 68 >> Last
Author Topic: Daily Market Analysis from ForexMart
Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 21, 2017, 08:54
Quote

EUR/USD Technical Analysis: April 21, 2017
The Euro against the U.S. dollar remains the same as there are little changes in the trading activity. The Resistance level started in a decline in the beginning of the trading session linking it to the highs reached during the election and in March reaching close to 108.00 mark. This trend is being supported in the 10-day Moving Average setting at 1.0650 level.
The pair gives off a positive momentum as shown in the MACD index and moving in an upward direction which means a higher exchange rate. The hourly chart cited that the pair broke over the resistance level at 107 handle will most likely proceed higher. Alternatively, if the pair breaks lower than the said level, the trading range could fall lower close to 1.0745 mark. There is a negative bias seen in the hourly with a crossover found in the MCD index indicating an opportunity to sell.
The upward trajectory stretched out as high as 1.0777 from 1.0569 level. The short-term support is seen at 1.0699 level. If this level is sustained, the decline from 1.0777 mark is considered as consolidation of an uptrend and could climb higher to 1.0830 region.The major support level is found at the base of the price channel and break beyond this level signifies the completion of the uptrend.
The buying interest of traders maintained strongly on Thursday session following a reversal to fresh new highs in during the Wednesday session. This pushed the price to reach the 1.0750 support level. The next target would be at 1.0800 resistance level which opens buying opportunities.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 21, 2017, 09:51
Quote

EUR/USD Fundamental Analysis: April 21, 2017
The EUR/USD pair had attempted to break through its upper barrier by pushing through all of its selling within the 1.0750-1.0780 range. However, the pair’s progress was blocked by large-scale selloffs and has since retreated below this particular range. This region has been touted to be a barrier for the pair’s bulls and could then be used by sellers as leverage to sell for the subsequent corrections. The currency pair is now trading at just over 1.0700 points.
There were no economic releases during the previous yesterday but there were reports released indicating Le Pen’s steadily poor performance with regards to the polls just a few days before the French election commences. This created a positive mood in the market, with more and more investors now willing to invest in the EUR. This particular piece of news has enabled the EUR/USD pair to surpass 1.0750 and even reached 1.0780, although the market was more interested on whether the pair’s bulls would be able to maintain its current gains while going up higher on the chart.
For today’s session, Germany and France will both be releasing its Manufacturing PMI data but the market is expected to make all the necessary preparations as France gears up for the French national elections. If Le Pen loses, then this will be a positive occurrence for the market and the EUR/USD pair could possibly rally next week.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 21, 2017, 09:57
Quote

GBP/USD Fundamental Analysis: April 21, 2017
The GBP/USD pair continues to trade on a very strong note throughout yesterday’s session although it had some minor corrections which caused the currency pair to retreat towards 1.2800 points. The sterling pound had consistently made some progress yesterday, with the effects of the UK snap elections inducing more momentum for the pair and thus enabling it to keep on going higher and higher.
The pair’s bulls enabled the GBP/USD pair to reach 1.2900 for a short while but this has caused the pair to reach its short-term goals. However, it has yet to be seen whether the pair would eventually correct towards 1.2100 or whether this will be more than enough to keep the GBP/USD pair accelerating towards the upper rungs of the chart. Market players are speculating the latter, with the currency pair still being able to trade on a positive note in the short term. US Treasury Secretary Mnuchin has already confirmed in a statement yesterday that the US economy will be indeed implementing tax cuts which reinvigorated the USD and clamped down on the GBP/USD rally, causing the pair to retreat towards 1.2800 points.
For today’s session, the UK economy will be releasing its retail sales data and MPC’s Saunders will be making a statement in the European session. The GBP/USD pair is expected to consolidate on both directions of 1.2800 points for the rest of today’s session.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 21, 2017, 10:58
Quote

USD/JPY Fundamental Analysis: April 21, 2017
The USD/JPY pair closed down yesterday’s session on a much higher note as stocks made a very welcome recovery, thereby increasing the demand for high-profit assets as a favorable candidate for the market managed to take the lead just mere days before the first round of the French national elections. However, regardless of what the opinion polls have to say about the upcoming French elections, traders are still very concerned that a low voting turnout might cause them to be at the wrong side of the market once again, especially after last year’s Brexit vote and US presidential elections caught the market by surprise.
Although a surge in the demand for riskier assets and a surge in Treasury yields are now lending some temporary leverage for the USD/JPY pair, things could pan out at basically any given direction due to several geopolitical concerns particularly those happening in DPRK and France. In France, Marine Le Pen could possibly gain a lead since the recent attacks in central Paris and the recent attack on French police officers could further cement security as the most imminent theme in the minds of voters just before the elections this coming Sunday. On the other hand, US defense officials are saying that a larger occurrence of bomber activity in China has been spotted after North Korea’s officials issued a warning to Beijing, saying that a nuclear test will be done on April 20. If this particular situation escalates, then stocks could possibly drop as investors make another flight to safety action and invest more in the Japanese yen.
For today’s session, the market is expected to be somewhat at ease today with a minor upward bias for the USD/JPY pair as stocks are steadily rallying. Traders are advised to monitor external occurrences as these might dictate whether the bulls of the USD/JPY pair would be hard-pressed to lie low within the day’s session.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 24, 2017, 10:56
Quote

USD/JPY Technical Analysis: April 24, 2017
The U.S. dollar against the Japanese yen dropped by few increments during Friday trading session. It continues to move in a consolidation state but after given some time, it could reach up to 100 level and higher. The 108 level and below gives a massive support. It seems that it will stay within this trading range for some time with the possibility that the market would try to move the pair in a certain direction recurrently.
The spot price ebbed the whole night yesterday causing the pair to be under pressure until the beginning of the European session. It broke higher than the 109.00 mark and reaching a weekly high of 109.47. Sellers are trying to push the price to 109.00 by noontime. The key resistance is found at 110.00 while the support positioned at 109.00 mark. A move lower than the 109.00 could re-establish the bearish bias of the pair.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 24, 2017, 11:09
Quote

USD/CAD Technical Analysis: April 24, 2017
The U.S. dollar paired against the Canadian dollar surged during the Friday session as it broke above the 1.35 handle as it has been before. This could climb higher but at the same time, this will bring high volatility in the market. The oil market could support this trend especially when it drops which is not far from happening.
Overall, the trend gives a bullish tone and reversals could create opportunities to go long for this pair. If the pair breaks higher than the 1.36 level, the trading condition could switch to a “buy and hold” scenario in the market.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 24, 2017, 11:17
Quote

GBP/USD Technical Analysis: April 24, 2017
The British pound slumped against the U.S. dollar as seen on Friday session. There is significant support positioned higher than the 1.2750 area. The 200-day Exponential Average also hovers within the range and soon enough, this range will grow higher. It is more practical to go long in this pair when it reaches the next target of 1.3450 level or higher. There will be reversals as buyers wait to grab the opportunity. It is anticipated for this pair to be traded in high volume in the market.
The pair maintained its neutral standpoint on Friday session. The key psychological level hovers close to 1.2800 in the day but this was being countered by buyers. Sellers are trying break lower than the said levels while they are indifferent to now. The resistance level sits atop the 1.2900 mark while the support level positioned at 1.2800. It is too early to tell if the seller could break lower than the 1.2800 mark while bears are anticipated to push the pair towards the 1.2700 area.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 24, 2017, 11:28
Quote

EUR/USD Technical Analysis: April 24, 2017
The trading of EUR/USD pair broke has a high volatility session. The market broke lower than the base of the shooting star pattern formed in the past session which is not a good sign. However, this could be redeemed faster since there is a lot of noise seen below the trading range which means that a rebound is possible to take place soon. Also, the pair could rally higher in a long term however, this would need a bit of a push from traders. There are a lot of factors that affects the pair’s trading hence, traders should wait and see whether this would change. Although, this is not that worse to change pair.
The recent sell-off EUR/USD pair was followed by a consolidation in the downtrend. The spot price settled at 1.0700 handle and the pair could stay here for some time. Sellers are gaining momentum to go downhill as it seems hard to maintain the current level. The Resistance is found at 1.0750 while the support is positioned at 1.0700 level. The pair would not rise as of the moment but the next move hints to go downward. A breakout of 1.0700 is being waited out while the sellers target the next move towards the 1.06 region.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 24, 2017, 11:34
Quote

NZD/USD Technical Analysis: April 24, 2017
The sellers have broken the level 0.7000 and moved ahead through the region 0.6980 by which the commodity pair USD/CAD met some renewed bids. Meanwhile, buyers were able to regain few of its losses with the help of the fresh buying interest.
During the mid-session of Europe, the price come again on top of the mark 0.7000 and touched 0.7012 in the mid-European trading.
Resistance came in at 0.7050, support highlighted 0.7000.
Moreover, the bullishness will remain until the standing of 0.7000 area.
We expect for further action towards a higher point at 0.7050.

Luis-
ForexMart
Pro
Posts: 988
Permalink
Luis ForexMart
Post Re: Daily Market Analysis from ForexMart
on: April 24, 2017, 11:42
Quote

AUD/USD Technical Analysis: April 24, 2017
This week has seen that the AUDUSD pair has fallen, testing below the 0.75 handle. Upon having some buyers within that level, the market tends to reverse and rebound forming a less than negative candle versus its earlier anticipated situation.
In light of this, the market would probably resume its consolidation in the middle of regions 0.75 (bottom) and 0.7750 (top).
With this, the market can be traded with short-term charts as the long-term charts are expected to come across much noise.

Pages: First << 62 63 64 [65] 66 67 68 >> Last
Mingle Forum by cartpauj
Version: 1.0.34 ; Page loaded in: 0.299 seconds.