Homei use portalCalendarGalleryFAQMemberlistSearchUsergroupsRegisterLog in

Share | 
 

 Daily Market Analysis from ForexMart

Go down 
Go to page : Previous  1, 2, 3, 4, 5, 6
AuthorMessage
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Tue Sep 25, 2018 1:37 pm

EUR/USD Fundamental Analysis: September 25, 2018 

[You must be registered and logged in to see this image.] 

The US dollar has a mixed sentiment during the North American hours after the recent update of Draghi on the EU parliament giving a transitory hawkish decision which pushed the pair down to 1.18, implying recovery of the market from the “underlying inflation” amid progressive labor market and some signals of shortages. Hence, this supports the ECB anticipations of higher wages. The price of the euro rose to a three-month high of 1.1815 from 1.1750 on Draghi’s speech. However, a few hours after that, the ECB chief undermined his own bullish rhetorics on inflation, adding more potential outcomes on protectionism, Perhaps, this can be because of recent fiscal plans in Italy prior to the FOMC later on. The major euro pair was affected by increasing Treasury yields and large outside day Doji candle on  Monday. 

On the technical aspect, the pair did not succeed again in maintaining the level above 1.1800 and close higher than 38.2% Fibonacci retracement in the range of 1.2556-1.1301. The decline implies there is not enough momentum. An appropriate breakdown lower than the support of 1.1725, which was previously a resistance, that could lead to a further decline below 1.1700 and help the strengthen the expectations. Meanwhile, the level of 1.1780 has strengthened and followed to 1.1800. If the price maintained higher than the boundary, the price is likely to extend the growth towards the June monthly-high resistance around the middle of 1.1800.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Wed Sep 26, 2018 10:12 am

EUR/USD Fundamental Analysis: September 26, 2018 

[You must be registered and logged in to see this image.] 

The euro attempted for a rally higher than the level of 1.18 for some time but doesn’t succeed, which can be because of the upcoming FOMC statement. Traders are uncertain whether to place money on this situation. It is likely for the dollar to become the focal point in the next few days. Other than that, there is also the issue of Italy with the European Union. Hence, there is a chance for a breakout at the level of 1.18 and further towards 1.20, which is the initial target as it is an important level, as well as, in the past. 

In case of a pullback, there may be a chance for the bullish traders to enter at a cheaper price as the level of 1.1725 is a little supportive. Nevertheless, the pair will probably break higher but needs some kind of a momentum if the decision of the FOMC becomes less hawkish than the forecast. Although this is just a probability, this event will largely affect the US dollar. Traders are trying to overlook the global trade fears, traders will still be able to bid on this pair.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Thu Sep 27, 2018 11:01 am

EUR/USD Technical Analysis: September 27, 2018 

[You must be registered and logged in to see this image.] 

The euro major pair decline towards 1.1725 prior to the expected FOMC statement. Sad to say, we really can’t tell the future movement since most traders are waiting on the sidelines. Trading on news activity has already passed, especially on the retail side. However, traders can make its decision for long-term after the announcement. It will probably go beyond the level of 1.18 or not at the end of the session. If so, a breakout is possible and reach the level of 1.20 or higher. 

If the price breaks lower than 1.17, there is a chance for a further decline of 1.15. A lot of volatility is also anticipated in long-term and a chance for a breakout if given sufficient time. However, it doesn’t mean it will not be difficult and a chance that the price can stay within the consolidation area for long-term. Recently, there are some hindrances in the bullish pressure but eventually, the outcome will likely be a breakout. This propels the price towards the next level of 1.0, which was important previously.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Fri Sep 28, 2018 1:51 pm

EUR/USD Fundamental Analysis: September 28, 2018 


[You must be registered and logged in to see this image.] 


The euro against the US dollar resumes its bearish trend during the North American session, losing almost 100 pips as the day closed as low as 1.1633 despite minimal activity in the night of market hours. After the macroeconomic report from the US, the US demand surged, which is gaining momentum against the rival currencies since Wednesday of FOMC announcement and largely influenced USD denominated currency pairs. The real-GDP growth in the U.S. for the second quarter remains the same at 4.2% and durable goods orders rose by 4.5% in August after the decline of 1.2% in July. The price resumed going down lower than 1.165 in the first few hours of Asian trading. Which then sustain the price range-bound. 


Although, the recent announcement did not do much from the recovery of losses. Consequently, this could boost the spread between the 10-year Italian government bond yield and its German equivalent, which will further strengthen the bearish trend. Moreover, if the yield spread rises as expected, the market will less likely focus on the preliminary Eurozone CPI to be published at 9.00 GMT. Another to expect, the US markets can anticipate the data on the core of PCE price index, which is the main measurement of inflation. Yet, recently, the support at 1.1640 is critically tested. A strong breakdown at the said level, the pair could extend its losses to  1.1570-1.1500 while a short-term resistance can be found at 1.1665, 1.1755 and 1.1815 price levels. 
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Mon Oct 01, 2018 10:23 am

EUR/USD Fundamental Analysis: October 1, 2018 

[You must be registered and logged in to see this image.] 

For the past few weeks, the US dollar has further risen as profits are gained during the first half of the year. Although, investors who have been closely monitoring the market, this did not come in surprising for them and they know that this relies on their hands. However, the decline of the EUR/USD pair has been strongly resistive or has been moving everywhere in the past few months. 

However, instead of a quick decline, a slow drop is apparent in the trend and it looks like the euro can be able to sustain trading higher than 1.10 and continues to reach higher. The level of 1.15 to 1.16 will become a significant level on the daily chart and starting a large head and shoulder within the area where the rate was on August 15. This shows that there is a chance for a bullish momentum to establish as the end on the year approaches as long as the shoulders proceed to sustain this trend. 

On the headline, there is nothing to expect much for the greenback in the coming days since there were already laid out in the market and the dollar has already established its rates in relation to trade wars. At the same time, the Fed raised their rates as to how the market expected it. Hence, the market is expecting largely of it and failing not to meet will just otherwise being a disappointment to the market. However, it might not be long for the trend to be reversed and provide chances for the bulls to return because of the headlines.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Tue Oct 02, 2018 11:06 am

EUR/USD Technical Analysis: October 2, 2018 

[You must be registered and logged in to see this image.] 

The euro declined in the past few days while maintaining the trading range during the Monday session. A lot of support is offered below and the level of 1.15 offers some but right now, there is not much of a momentum. 

After a breakdown for the past days, it is logical and it needs some break as it moves around the level of 1.16. The market will try to gain some momentum but it will not be surprising for the price to go lower before finding a lot of buying pressure, especially close to the level of 1.15 which was massively supportive in the past few months. The price shifting between 1.15 and 1.18, despite of a breakdown, there is no significant change over it. 

A massive support level is apparent just below the level of 1.15 on the weekly long-term charts and needed a strong breakdown to pass through, which will likely limit the current downtrend. As of now, I am aiming to buy the pair but at a much lower area if the trend allows. On the contrary, in case it breaks higher than 1.1650, the price could return to the level of 1.18.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Wed Oct 03, 2018 11:27 am

EUR/USD Technical Analysis: October 3, 2018 

[You must be registered and logged in to see this image.] 

The euro declined in the past few days while maintaining the trading range during the Monday session. A lot of support is offered below and the level of 1.15 offers some but right now, there is not much of a momentum.

After a breakdown for the past days, it is logical and it needs some break as it moves around the level of 1.16. The market will try to gain some momentum but it will not be surprising for the price to go lower before finding a lot of buying pressure, especially close to the level of 1.15 which was massively supportive in the past few months. The price shifting between 1.15 and 1.18, despite a breakdown, there is no significant change over it.

A massive support level is apparent just below the level of 1.15 on the weekly long-term charts and needed a strong breakdown to pass through, which will likely limit the current downtrend. As of now, I am aiming to buy the pair but at a much lower area if the trend allows. On the contrary, in case it breaks higher than 1.1650, the price could return to the level of 1.18.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Thu Oct 04, 2018 10:34 am

EUR/USD Technical Analysis: October 4, 2018 

[You must be registered and logged in to see this image.] 

The euro rallied at the beginning of Wednesday session after the news announcement of Italy having less than 2% budget deficit by 2021. It has eased the tension between Italy in the European Union for quite a bit and being optimism in the market. Yet, if volatility continues in the pair, we should focus on various movements at the same time. The Federal Reserve is aiming to raise the interest rate for different time in more than a year or so which will have an impact to this pair. Nonetheless, the level of 1.15 offers to be significant and it will not be surprising for this price to be important after some time. 

There is a lot of consolidation in the past few months and the trend is expected to move back and forth making the euro at a lower price. However, it does not show that the price would not decline but this implies a lot of value hunting in the pair. Traders should look into the formation of the lower price unless the price moves above the low from the previous trading session, it shows the price to form a new trend on the upside and probably move towards 1.18 as it has in the past.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Fri Oct 05, 2018 2:27 pm

EUR/USD Technical Analysis: October 5, 2018 

[You must be registered and logged in to see this image.] 

The EUR/USD pair recovered by the end of the London session and the bulls were able to sustain gains yesterday. In the early Asian session, the greenback has gained momentum for a short while it seems that the euro bulls are not on the lead after its breakthrough to the support level of 1.15 even before the start of the London session. Amid all the headlines and reports, the euro is likely to face more problems and further decline. 

However, this did not happen as the currency was able to recover from the lows of the range which pushed the pair to further go up towards the 1.15 soon enough. In the meantime, this weakened the bullishness of the dollar and importantly considering the bullish sentiment of the dollar. From here on, we could wait for the next activity and majority of the news about to be published from the US and expect some form of volatility. 

It may be wise for traders to wait until the reports are released and everything settled before choosing a decision on the next direction of the dollar. As for the euro, it looks stable for now while the focus of the market is on the Fed. Both the dollar and Trump are expected to affect the market for short-term. The recovery gives hope to the dollar bulls for short-term and probably take the lead in trading in the few days to come. However, as of the moment, the market sentiment shows a neutral trading.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Mon Oct 08, 2018 12:07 pm

EUR/USD Fundamental Analysis: October 8, 2018 

[You must be registered and logged in to see this image.] 

The euro major pair persisted holding the level of 1.15 on Friday, which is likely to similarly happen today. The pair bounced up from the low range on Thursday and the support level was further held up by the bulls giving optimistic outlook in the future. Few updates added to bullishness of the currency while some markets, especially stable funds, have thought of the euro downtrend to be limited. 

The bulls are able to prop up the support level and probably aim for further purchases to raise the price. It may not be easy for the dollar which is gaining more support because of the Fed, especially with its recent rate hike. Other than that, the dollar currency is also considered to be the good investment in times of crisis which has been for a long time. However, the price just did for a few times. 

Furthermore, the price was further supported by the recent talk from the Fed chief Powell who evidently said that there could still be other rate hikes and further boost the dollar. Given this situation, the euro bulls carried took control and held the support area around 1.15 but it may not be easy to further bring the price up. There is not much economic news recently and the euro is likely to consolidate and range almost the rest of the day.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Tue Oct 09, 2018 1:04 pm

EUR/USD Technical Analysis: October 9, 2018 

[You must be registered and logged in to see this image.] 

The euro major pair closed on a bearish sentiment yesterday amid dovish pressure on the currency and escalating trade tensions. There are also some concerns related to Italy’s budget that was just approved last week. European equities also plunged down to multiple months low on Monday while Italian government bond rose to 4-year high. Italy’s deputy PM noted that anti-austerity perspective will get more powerful across the continent. The euro pair comes in flat and steady at the beginning of Tuesday far from 1.15 but close to the short-term lows. 

It seems that the euro pair would extend its decline in reference to the chart while the dollar positions to go higher when the market return in full power and the US Treasury yields will surge up. The pair was not able to hold moderate gains steady above the bearish 20-SMA. Currently, a dynamic intraday resistance is found at 1.1500 with the momentum remains at a bearish slope lower than 100. Yet, the RSI indicator moved steadily above oversold area despite limited volume and insufficient momentum. In the technical aspect, the resistance level is at 1.1500, 1.1530, 1.1565 and support at  1.1460, 1.1420, 1.1475.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Wed Oct 10, 2018 1:50 pm

EUR/USD Fundamental Analysis: October 10, 2018

[You must be registered and logged in to see this image.]

The euro against the US dollar exhibited a sharp drop during the Tuesday session because of Italian policy news, as well as, deputy PM Salvin rhetorics in plans of maintaining the budget and EU rules are anticipated to change. A strong dollar added more concern, resulting to surge in US Treasury yields. However, the euro begins to take the lead later on as the dollar weakened in the market due to the drop in US bond yield after reaching record highs. Moreover, risk sentiment has just returned in the market giving a positive impact following a hawkish tone in the Wall Street in the global market. 

In a technical aspect, a long-tailed Doji candle was observed, implying a sell-off from the September high of 1.1815. A bullish reversal would be confirmed if the spot closes this day higher than the Doji candle of 1.1503. Based on the chart, the descending line has been cleared and trades above the 50- and 100-EMA with the RSI at 55, siding with the bulls. The 4-hour chart shows a bullish RSI divergence. It seems that this will result positively on long-legged Doji candle yesterday, confirming a bullish reversal. Yet, there would be lesser tendency to turn bullish from bearish if the Italian bond yields surge in the European session.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Thu Oct 11, 2018 10:24 am

EUR/USD Fundamental Analysis: October 11, 2018

[You must be registered and logged in to see this image.]

The euro rose during the Wednesday session. A breakout on the level of 1.15 indicates that there is a demand for the currency. There is a “risk on” move with US traders and drive momentum. 

We have seen this scenario where just recently the euro got a sell-off and the North Americans will have a steer to move forward in later in the day, of course, taking note of riskier currencies. Similarly, this is how the trading with the S&P 500 futures market and other precious metals. Worries on Brexit will still be apparent, as well as the debt issue with Italy. These bring uncertainty to traders but the US traders will give attention to their own economy. 

Trading on mornings around 9 am where there is a momentum on the oversold situation can be advantageous. Eventually this is likely to change its course but for now, it seems to be moving steadily. The euro pair is not that far from forming the bottom for long-term, where both the resistance and support were previously located last year. A psychologically important level was found at the resistance of 1.18 which seems to be the aim of buyers. Moreover, a lot of noise will likely be present and considering the pair, we can expect more buyers below. A breakdown below 1.14 could result in a sharp decline. Nevertheless, it is less likely to occur at the present time.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Fri Oct 12, 2018 2:43 pm

EUR/USD Fundamental Analysis: October 12, 2018

[You must be registered and logged in to see this image.]

The euro major pair climbed to the top at 1.1590 prior to the release of the US data, which was the highest since October 3. In regards to recent US president, Donald Trump, the statement on fed’s tightening and plunged down equities influencing weakness of dollar during yesterday’s trading. The pair reached the intra-day high 1.15992 since the US CPI and unemployment reports did not meet expectations, resulting in further bullishness of the trend since today is the last day of the week.  

In the beginning of the Asian session, the pair broke the level of 1.16, reaching an intra-day and even the monthly high at 1.16103 from 1.1606, grew by 0.11%. With Japan’s equities proceed to trade in red, other major markets such as India, Singapore, and China sighted equities to have an optimistic price action. The US dollar has been trading at its lowest level in October against other markets on Friday while continue to lose in US Treasury yields bringing pessimistic sentiment on Wall Street. On Friday, the dollar traded at 95 against six major currencies from 96.15 monthly high on Tuesday.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Mon Oct 15, 2018 2:05 pm

EUR/USD Fundamental Analysis: October 15, 2018

[You must be registered and logged in to see this image.]

The euro against the US dollar resumes trading in a slow but steady pace while the market focuses on the dollar being unable to grow. Hence, the dollar was able to gain some decent profits since the start of the year but the euro and the pound were able to take their stand against the dollar. Meanwhile, this gives pressure on the dollar but uncertainty is still on the concern if the dollar could still get a lead. 

The Fed is doing what it can to bring the dollar up but it is insufficient. They tried to break lower than 1.15 in the past few weeks but there have been strong buying of the pair and fails as it faced strong purchases and bounce over 1.15. The bulls also were not able to push the prices but still keep going that resulted in a flat in the past few weeks. 

There are also concerns on US account deficit in a negative state for a long while which is anticipated to resume for medium-term which cannot be changed for the night despite government’s efforts. This adds pressure to the dollar with rising borrowing costs that will worry the dollar bulls in the medium term. For today, the US retail sales data adds volatility while the bulls are trying to take the lead.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Thu Oct 18, 2018 2:21 pm

EUR/USD Fundamental Analysis: October 18, 2018

[You must be registered and logged in to see this image.]

The euro major pair was kept at the daily lows after the release of FOMC minutes yesterday. It reached a new weekly low at 1.1510 close and hovered close to it after the release of Fed minutes. On Wednesday,  the favor was in the dollar against a basket of currencies since the London trading time. Various local equities added to the political tensions and poor inflation have influenced the common currency, which in turn, benefits the US dollar. The dovish macro data has further given a bearish stand for the euro yesterday. Although the US housing data came in less-than-expected allowed some breathing in the market then the dollar continued its hawkish sentiment across the market. 

By the end of the Wednesday session, the euro falls at the bottom below 1.1500 while there is another significant meeting of the EU. Consequently, the euro dropped during yesterday’s trading from the day high if 1.1580. Sellers were able to pick up momentum yesterday after the hawkish reports of the US FOMC minutes. In the economic calendar of the euro, the Wholesale Price Index at 06:00 GMT is anticipated to grow by 0.4% from 0.3%  and another report on Swiss Trade Balance for September with a forecast of 2.482 billion from 2.134 billion. Nevertheless, the low-impact data is less likely to boost trading as traders are still on the edge waiting for hints on the EU’s EcoFin meeting in Brussels.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Fri Oct 19, 2018 1:44 pm

EUR/USD Technical Analysis: October 19, 2018

[You must be registered and logged in to see this image.]

The euro declined once again during the Thursday session after its bullish sentiment in the beginning. Yet, there is an important support level below which may be just for a short period of time. However, the shooting star pattern below drove the pair lower which something to get worried off. Hence, it is wise to wait on the sidelines, looking for a supportive candle or any bounce to make use of the support. 

If the pair breaks lower than 1.1450 on the 4-hour chart, selling can be an option especially if it closes below it. Overall, we can be just grinding and taking a hint on the next move. There are various things to worry about such as the Brexit, the Italian crisis to name a few. Yet, traders should also keep their eye on the Treasury yields for the 10-year T-note from the US. It implies that the greenback can trade and take advantage of this situation with higher interest rate but would be not so good for the euro. 

Volatility will present and then trades should be kept at small positions in case a successful breakout of the shooting star and then move further to 1.1530. Hence, there can be a drive to the upper channel and move towards 1.16.
Back to top Go down
View user profile
Obasi FXMart
Bronze Marketer
Bronze Marketer


Posts : 59
Reputation : 0
Join date : 2018-07-04

PostSubject: Re: Daily Market Analysis from ForexMart   Mon Oct 22, 2018 2:46 pm

EUR/USD Fundamental Analysis: October 22, 2018

[You must be registered and logged in to see this image.]

The euro major pair bounced up after a decline as it moved towards the support level of 1.1531and closed higher on Friday. However, there is a tendency for the pair to face risk and move higher in short-term. A bullish sentiment was established in the outside-day around the level of 1.1432 on Friday, indicating the pullback has stopped from the October 16 high at 1.1622. The European Union tries to lessen the deficit on budget expansion proposal and further strengthen the common currency on Friday. The European Economic Affairs Commissioner Pierre Moscovici said tension can be lessened through constructive conversations after the recent warning letter on criticizing fiscal plans of Italy. 

The pair was able to find some sufficient support near the monthly lows at the area of 1.1435-30 and rose for almost 100 pips as a major part of weekly losses. The currency was further strengthened because of the dollar but lost some momentum after the rhetorics of Atlanta Fed President Raphael Bostic. On the other hand, the market received the news on Italy with its stable outlook that puts a limit on any sudden decline. 

There is not much fundamental news that could affect trading while investors look for news that could affect the currency rates amid Italy policy concerns and Brexit updates. Moody’s decision was less-than-expected of investors. Thus, a relief rally on Italian markets may take place today. In case the spread between the 10-year Italy and German yields lessened by 300 bps, this could push the euro major pair higher and break through the level of 1.1535. The resistance levels of the pair would be 1.1535, 1.1575 and 1.1600 and the support levels would be at 1.1463, 1.1432, and 1.1400.
Back to top Go down
View user profile
Sponsored content




PostSubject: Re: Daily Market Analysis from ForexMart   

Back to top Go down
 
Daily Market Analysis from ForexMart
Back to top 
Page 6 of 6Go to page : Previous  1, 2, 3, 4, 5, 6
 Similar topics
-
» Abortants for Silent Migraine/Chronic Daily Headache?
» Chronic Daily Headache on the Johns Hopkins website
» nerve decompression surgery for chronic daily headache
» Triptans for daily silent migraine
» Male late 40s with no history suddenly getting daily migraines with auras

Permissions in this forum:You cannot reply to topics in this forum
Money Dreamer Forum :: Making Money Online :: Top Money Making-
Jump to: