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 Daily Market Analysis from ForexMart

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A.ForexMart
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PostSubject: Daily Market Analysis from ForexMart   Wed Sep 13, 2017 9:09 am

Hello forum members!


Good day!


I am Andrea, an official representative of ForexMart.


Me and my colleagues will provide you daily forex analysis on this thread to help you increase your trading efficiency as well as maximizing your profit. Suggestions, comments or opinions are all welcome. We will also be glad to attend to your inquiries.


We hope to hear from you soon!


Thank you!


Best regards,

ForexMart
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PostSubject: Daily Market Analysis from ForexMart   Wed Sep 13, 2017 9:58 am

EUR/USD Technical Analysis: September 13, 2017


European yields increased again together with the stabilization of risk appetite and revival of the global stock market that keeps buoying the EURUSD pair.


Eurozone peripherals had performed better while the European Central Bank assures for a cautious move as it prepares to ease off the stimulator. Meanwhile, the chain store sales of the United States declined after the destructive hurricanes Harvey and Irma that are predicted to put pressure on the national figures for this week.


The German economic ministry anticipates slow growth in the H2, which implies that employment growth might curb sentiment.


The euro-dollar pair formed another Doji day showing the opening and closing level were at the same point reflecting an indecision. The support highlighted the 1.1937 level close to the 10-day moving average. While the resistance came in at 1.2092 near the September peaks.

The momentum is in the neutral position and the MACD (moving average convergence divergence) indicator prints around the zero index level linked with a flat trajectory that shows some consolidation. Moreover, the  RSI (relative strength index) known to be a momentum oscillator that assesses the increasing or decreasing momentum. The index prints a reading of 59 in the middle of the neutral range, which also indicates further consolidation.
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PostSubject: Daily Market Analysis from ForexMart   Thu Sep 14, 2017 10:57 am

USD/JPY Technical Analysis: September 14, 2017


The U.S. dollar versus the Japanese yen rallied to the upper channel during the Wednesday session and there is an unabating buying pressure. The discussion on tax reform from the United States further worsens the situation since it came out earlier than expected. On the other hand, this is favorable for the greenback. This makes more U.S. companies more aggressive and in all likelihood boost the U.S. economy. On this condition, it is presumed that buyers will enter the market and attain the level of 111. If the market successfully breaks out, there is a potential for the price to move much higher.  
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PostSubject: Daily Market Analysis from ForexMart   Fri Sep 15, 2017 11:43 am

GBP/JPY Technical Analysis: September 15, 2017


The British pound moves sideways during the beginning of the Thursday session. This surged to the upper channel after the Bank of England hinted that there will be interest rate hikes soon.

Hence, the market will most likely proceed with buying on the lows and it may not be wise to short this pair for now. For long-term, the pair will try to reach the 150 handle and above. Selling will be difficult for this pair and the 145-level or lower will continue to support the market which gives a bit of a bullish pressure.
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PostSubject: Daily Market Analysis from ForexMart   Tue Sep 19, 2017 12:19 pm

EUR/USD Technical Analysis: September 19, 2017


The euro-dollar pair remained almost unchanged as it stayed in the level 1.1953 under the 10-day moving average. On the other hand, the inflation came in at 1.5% which is lower the 2% target of the European Central Bank. Now, traders’ attention was turned to the Fed Reserve meeting on September 19 and 20, but there is no any expectations for the meeting. Moreover, the Fed had mentioned some ways in managing the bond purchase program. Contrarily, the Bundesbank assumes that growth will slow down in the second half of the fiscal year.


The EURUSD consolidated prior the meeting of the Federal Reserve which is scheduled tomorrow. The pair’s support hit the 1.1834 mark which is seen around the lows of the previous week. The resistance highlighted the region 1.2092 around the highs last week.

The momentum maintained a negative stance while the MACD (moving average convergence divergence) indicator prints in the red with a descending trajectory, pointing to lower exchange rate.
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PostSubject: Daily Market Analysis from ForexMart   Wed Sep 20, 2017 10:10 am

EUR/USD Technical Analysis: September 20, 2017


The currency pair EUR/USD was able to make some slight improvement during the trading session yesterday, however, the pair resumed the consolidation prior the meeting of the Fed Reserve scheduled on Thursday.


The German Zew Investor confidence had increased which buoyed the euro-dollar pair, but the attention of the traders are centered towards the Federal Reserve. When they mentioned about quantitative tightening during the meeting, it would likely that the U.S. import prices will rise more than 2% year over year.


The EURUSD remained to sit on the 10-day moving average, and continued consolidating before the Fed meeting tomorrow. The pair’s support touched the 1.1834 level around the lows last week. On one side, the resistance entered the 1.2092 region near the highs of the previous week.

Moreover, prices seem to generate a bull flag formation serves a pause that refreshes upwards. The negative momentum is moving downwards while the MACD (moving average convergence divergence) index is printing in the red showing an ascending trajectory that reflects for further consolidation.
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PostSubject: Daily Market Analysis from ForexMart   Yesterday at 9:55 am

EUR/USD Technical Analysis: September 21, 2017


The EURUSD trailed downwards during Wednesday's trading session after the release of Federal Research report as the central bank maintained interest rates. Moreover, the Fed Reserve announced that they progress with the quantitative tightening with an amount of 600 billion approximately, which is related to balance sheet reduction every year.


The FOMC also mentioned another rate increase scheduled presumably in December. Among 16 Fed members, there are 11 who voted for a hike this year. According to forecasts made by the officials, it might extend until next year to attain the neutral rate level of Fed funds. The Federal Reserve System gradually approach the issue about the three-time hike in 2019 and 2020 and the long-term rate was lowered down to 2.75%, with the previously 3.0%.


The euro-dollar pair weakened after the dollar made some progress along with the increase of yields. The support lies at 1.1834 region around the lows last week while resistance can be found at 1.2092 level near the previous highs.


The RSI (relative strength index) which functions as a momentum oscillator measuring the performance of the momentum, whether it will accelerate or decelerate. The indicator broke the support which shows an ascending negative momentum. On the other hand, the MACD histogram prints in the red, reflecting a downward trajectory that leads to a lower exchange rate.
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PostSubject: Daily Market Analysis from ForexMart   Today at 8:37 am

EUR/USD Fundamental Analysis: September 22, 2017


The EUR/USD had a mixed performance during the daytime trading on Thursday, showing some choppiness without any hints on how to handle the dollar recovery. It happened after the FOMC meeting in which the Federal Reserve did not exclude chances for a rate increase in December and decided to begin the program to cut balance sheets. These combined announcements enabled to maintain the bid under the greenbacks, however, the trend of the EURUSD pair remained choppy to a certain extent.


Moreover, the single European currency weakened and moved below the 1.19 mark during the morning session, afterward, it started to recover and moved upwards since the US dollar weakened again over other selected currencies. With this, the euro was able to drive higher than the 1.19 level and currently trading in the 1.2950 area which continues to gain strength. It appeared that the pair would retrace its losses in the near term while the dollar bulls still having a tough time to generate strength recovery.


The USD failed to become well-composed in the past couple of days, as it loses its bullish gains. While the EUR successfully recovered due to the discussion about the continuous QE tapering in the market which is very visible to everyone.


In the near term, the euro is expected to remain in the bid as the pair test the range highs at 1.2070. The time for the dollar has not happened yet, therefore, bulls should be willing to wait for strong signals sent by the Fed regarding the rate hike, together with the ECB’s tapering talk and from that, we could expect for a reversal of fortune.


Ultimately, there are no major economic releases for today except the  speech of ECB President Mario Draghi which is anticipated during London hours. According to forecasts, Draghi will tackle about the monetary policy while the market is still searching for some insights about tapering, however, the ECB president is known for his inclination not to touch the monetary policy during this kind of meetings. Furthermore, it remains unclear if this will brought an impact towards the euro-dollar pair.
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