Homei use portalCalendarGalleryFAQMemberlistSearchUsergroupsRegisterLog in

Share | 
 

 Daily Market Analysis from ForexMart

Go down 
Go to page : Previous  1, 2, 3, 4, 5, 6  Next
AuthorMessage
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Tue May 08, 2018 10:38 am

USD/JPY Technical Analysis: May 7, 2018


Investors are observing the movement of the 10-year U.S. Treasury note futures contract following the appreciation of the USD/JPY pair. The statements and the recent jobs report influencing the 10-year Treasury notes, which is likely to be bullish especially that it is in inverse relationship to the interest rates. An increase in the T-notes would then lead to a drop in yields. A weaker Treasury yield would bring pressure to the Japanese major pair.


The USD/JPY pair began the week with higher expectations of the interest rates prior to the latest Fed monetary policy statement yet, the price movements suggests the disappointment to the reports. The pair rallied for the week to the highest level at 110.028 since February 5. However, the pair withdrew by -0.12% or 0.127 and closed the week lower at 109.060.


On May 2, the funds' rate sustained the target of 1.5 percent to 1.75 percent according to the Federal Open Market Committee, which is already anticipated. They say that the overall inflation excluding food and energy is close to the two percent. The economy has improved as the business fixed investment grew more steadfast.


Unanimously, the committee has decided to keep the rates unchanged disregarding the expectation of public for an aggressive course of action. Various officials are scheduled to have their speech in the upcoming days.


Fed has not given any signals to the pace of future hikes which investors believe to be implemented twice with the next rate hike anticipated in June. Subsequent rate hikes will probably be around after four months or on the last month of the year.


As they aim to hold the rate hikes twice with the not-so-good U.S. Non-Farm Payrolls report on Friday. The headline resulted below expectations as the unemployment rate reached an 18-year low. The average hourly earning seems to have the inflation out of control.


Selling pressure would persist to control the USD/JPY pair this week with investors continue to book profits after the Fed announcement on Wednesday, as well as, the U.S. jobs report on Friday.


The sentiment of the Federal Reserve was relatively dovish while allowing the inflation to purse the two percent target. Moreover, the wage growth did not meet expectations on the employment report released on Friday.


Besides the bullish trend of the 10-year Treasury notes futures contract which inversely affects the drop of yields, traders were able to place money on the net short position of the 10-year futures, with over 1 million shorts, according to the Commodity Futures Trading Commission.


However, the USD/JPY could decline sharply if these shorts start to cover.


Based on the latest reports, the inflation will be the main focus due to the anticipated release on the Producer s on Wednesday and Consumer Price on Thursday.

Some speakers including the Fed Chair Jerome Powell will have an assembly on Wednesday at 19.15 GMT.


[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Thu May 10, 2018 7:11 am

GBP/USD Technical Analysis: May 9, 2018


The British pound declined almost throughout the Tuesday session in order to test the major uptrend line once again. The 1.35 level is still significant given that it is psychologically relevant. There is also a lot of buying and selling in this area previously, which, at the same time, coincides with the major upward line. Hence, in consideration of these factors, there will be a decision soon.


The British currency dropped during the Tuesday session in reaching the uptrend line at 1.35 level. Essentially, a breakdown below could push the price further towards 1.33. Ultimately, a breakdown could loosen up sharply since the uptrend line is important. The level of 1.30 if a significant level as much as the 1.35 handle. I presume that a breakdown is logical since the U.S. dollar continues to strengthen in the summer season.

The European Central Bank has already announced that interest rates will be maintained a bit lower for a period of time that previously considered, which, in turn, added pressure on Sterling. Although this might be just for short-term and in the next few months, it is likely for buyers to return in this currency. However, the U.S. dollar will probably grow in the upcoming months which would greatly affect the currencies relative to the bond market and of course interest rate expectations. Alternately, if a breakout occurs at 1.3650 level, then there is a chance for a kick in upward momentum.




[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Wed May 16, 2018 8:17 am

USD/CAD Technical Analysis: May 15, 2018


The week began for the US dollar against the Canadian dollar in testing the psychological level of 1.2750 for support. The market will probably stay in this area and bounce more than once.


During the Monday trading session, the greenback slid lower and reaches the level of 1.2750. If the pair breaks down again below the 1.27 level, the price could further go down towards 1.25. Alternately, if the price breaks above the level of 1.28 instead, the next course will be towards  1.30. Noise will still be present in the market around the said level with a lot of variable factors to affect the trades. The U.S. is likely to pick up momentum due to higher interest rates again in the previous weeks but it was not favorable for the greenback yesterday.


The oil is starting to rally again but could add more pressure on the market. We should focus on the 10-year treasury note in the United States and if the interest rates drop as well, this is a bad sign that would propel the market lower. There is a lot happening for the Canadian dollar yet above the level of 1.30 offers a lot of resistance, which is very apparent on the trend, with a lot of noise for a while now. In case that the market breaks through above 1.30 for some time, the price will continue to climb higher. Otherwise, we should anticipate a lot of noise for the bank and a technician to rise higher for a bit.


[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Wed May 23, 2018 9:01 am

GBP/USD Technical Analysis: May 22, 2018


The British pound slightly declined at the beginning of the Monday session as it reached the level of 1.34 before finding buyers. Since there are still signs of support, it looks like it supported the fight for buyers. Yet, there are some major concerns above.


Trading the British major currency pair slid down towards the psychological level of 1.34 before going up again. It has shown a significant amount of bullish pressure but there could also be signs of significant resistance in the previous uptrend line, established in the yellow ellipse on the chart. This gives a significant amount of resistance with a high probability of a rollover then we could look for the level 1.34 below, which was also supportive in the past. A breakdown below would allow the market for a decline up to the level of 1.33 and further to 1.30.


We should be cautious of any rally, at least not until a successful breakout to 1.3550. For now, we could reverse the whole situation completely, but I think there will also be a continuation of dollar strengthening in the short-term, which is likely to extend for the rest of the summer and continue its rally in the U.S. When a breakdown occurs below the uptrend line, this could become a problem for the British pound. Although, it may not necessarily be a problem as much as the strengthening of the U.S. dollar. I would look for some type of exhaustive candle near the area of 1.3475 to begin shorting this pair.


[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Wed Jun 13, 2018 9:31 am

GBP/USD Fundamental Analysis: June 11, 2018


The pound/dollar pair continued to trade around the 1.3430 region on the back of the failure to create bullish momentum in the previous week, as it was beaten by the major handle and the markets are waiting for further progress in Brexit this week. Due to the scheduled FOMC rate hike in the upcoming week, the interest rate differential of the GBP and the USD is predicted to move in different directions which could hold the Pound on its starting position and push the British currency into the recent lows. Following the recently rejected  Irish border solution, market participants await for further news within this week while the United Kingdom continue to negotiate in looking for the middle ground for the hard-line Brexiteers and the EU leadership in Brussels. Nevertheless, Prime Minister Theresa May was caught in between and trying to find fair solutions for both sides.


The upcoming week is projected to be really busy for the Sterling pound since 4 out of 5 trading session this week brought extreme impact to the UK calendar that could support a high level of volatility for market players. Today has plenty of data for Britain which will be all published at 08:30 GMT, however, the focus will be on the  Manufacturing Industrial Production data which is expected to remain unchanged at 2.9%. The US session today appears to be in smooth sailing according to the economic calendar, but traders might deal with the G7 summit blowout, wherein US President Donald Trump leave the summit earlier and depart the US’ support of the G7 communiqué, following a Tweet from POTUS aboard Air Force One heads to Singapore for the Trump-Kim summit.


At the same time, the figures for Average Earnings Index +Bonus (Apr), Claimant Count Change (May), Core CPI & PPI input and Core retail sales in the next three consecutive trading sessions. Moreover, the daily chart indicates that the GBP/USD currency pair corrected higher from the lows of 1.3205 alongside the diverging technical oscillators. On the other hand, the Relative Strength Index (RSI) had an unexpected move towards the oversold area and bounced back to the GBP, which descends to the levels of the beginning of last week. The Slow Stochastic resumed moving in an upward trajectory. The daily chart of the 50-day and 100-day moving average formed a death star crossover, this means that there is an initial downside potential of the Cable pair to break the 1.3300 region prior attacking the area of 1.3200. The upside of the pair is necessary to break back above the 1.3380 to the 1.3450 target, which is the last week’s high.

[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Thu Jun 28, 2018 5:01 am

AUD/USD Technical Analysis: June 27, 2018


The Australian currency had slightly decline amid trading course on Tuesday and was able to touch the 0.74 level below. According to the chart, the light blue circle that formed a “W pattern” at 0.7350 zone indicates some bullish reversal signal, the said level is considered significant in the longer-term chart. With this, it seems that we are in a neutral position attempting to reverse the overall market sentiment which would cause a lot of noise.


In case that market will break on top of the 0.75 handle, this shows a bullish sign which appears to hang in the trade of a significant trend in the longer-term. Below this zone seems to offer enough support to help the market buoyed. In general, the market may continue to be noisy but holding a position above the significant area of 0.7350 would likely attract more buyers.


Aside from that, the weekly charts generated a massive hammer formation last week which showed a bullish sign, as expected. Hence, there is low chance to have a good rebound which is in favor of the short-term charts. Otherwise, a break under the 0.7350 mark would pull down the market toward 0.70 zone.


[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Fri Jun 29, 2018 7:32 am

GBP/JPY Technical Analysis: June 28, 2018


The British currency had seesawed during Wednesday trading session and rebounded from the ascending trend line below to turn around and touches the ¥145.33 level. Apparently, the market will continue to have a lot of noise in general due to fears about trade wars. However, there are certain attempts to seriously break down through the upward trendline that can be seen on the hourly. An ability to move under that level would allow the market to reach the ¥144.50 level or lower.


Otherwise, the market might bounce from that point when some good news was released. From there, the market is expected to go near the ¥146 level, which is an area of resistance barrier of various minor in between that requires a significant amount of momentum to gain a position above.


Remember that the GBP/JPY pair is predicted to be extremely volatile and highly sensitive with regards the news and current issue between China and the United States. It is believed that this market is going to receive a lot of bad news despite the significant bounce from the remarks of Donald Trump that he is not interested to further heighten the trade war to hold China from investing in the US technological firms.


[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Wed Jul 04, 2018 5:45 am

AUD/USD Technical Analysis: July 3, 2018


The Aussie dollar had a significant break down during the trading course yesterday and further cut through the 0.7350 zone. There is a lot of support underneath that level and it appears that players attempt to slice through it. If this happens, the market would likely move to the 0.73 handle or even to the 0.72 mark eventually. At present, rallies may be sold-off since Sino-American affiliation continue to fall apart. The nearing deadline for the trade tariff on Friday appears to be true but traders are also concerned about China’s retaliation plans.

Market players will be confident to buy the Australian dollar again until the trade pressures eased down due to bid for safety. As of this writing, the market may drive lower but traders might experience an occasional bounce. Also, the markets may resume moving based on the headlines while the downside may be the most convenient way to trade, considering that the markets avoid risks.

[You must be registered and logged in to see this link.]
Back to top Go down
View user profile
A.ForexMart
Bronze Marketer
Bronze Marketer


Posts : 144
Join date : 2017-09-13

PostSubject: Daily Market Analysis from ForexMart   Thu Jul 05, 2018 6:48 am

GBP/USD Technical Analysis: July 4, 2018


The British currency had a significant rally during trading course yesterday and further reach the important region of 1.32. It seems that the market will continue to search for sellers around that level, while a break on top of that area will show the next target above the 1.33 mark. This market remains to be very noisy, however, the market is predicted to move according to headlines and uncertainties at the end of the day.


The hourly chart formed a “higher low” but it is too soon to consider the market reversal in the longer-term. Forecasts show that the greenbacks would likely continue to gain strength in general while traders buy additional treasuries. Aside from that, there is some unknown factor relative to the United Kingdom and participants should take extra care.


Since today is the Independence Day holiday in the United States, we should anticipate a very noisy market unless liquidity will flow intensely that could prompt further shocking news. Generally, we can expect for some quiet fluctuation in the trading area.


[You must be registered and logged in to see this link.]
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 Jul 17, 2018 1:56 pm

GBP/JPY Technical Analysis: July 17, 2018 

The British pound rallied a little during the Monday session and reaches the level of 149.50 before apparent signs of exhaustion. Higher than 150 signifies exhaustion in the market with expected resistance. Thus, we could strike on the opportunity to short this pair. It looks like the market has overexpanded and faces strong psychological level above 150. 

Although it is still suggested to short this pair in a smaller move, the long-term selling will bring the rates back to 150. A break higher would give the green light to traders in applying the “buy and hold” strategy yet, the strong political tension around Britain could strengthen the Sterling pound for long-term. The pair will continue to chop around and eventually make way for some clarity that the trend lacks as of the moment. For the short term, sellers are anticipated to be present while more sellers will join in the long-term above the trend. Nevertheless, we should keep the possibilities open as it may change anytime. Noise will still be present because of the political tension in the U.K. and global risk appetite. Hence, small trades will be the ideal approach for this market since noise will be the main impulse in overall trading while headlines will likely cause sudden movements in short-term. 
[You must be registered and logged in to see this image.]
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 Jul 18, 2018 11:57 am

EUR/USD Technical Analysis: July 18, 2018 

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

The euro rallied at the beginning of the Tuesday session and reach up to 1.1750 prior to retreating back at 1.700 below, which were the trades began for the day. We can expect noise to be present in the pair considering that there are Brexit negotiations and a strong dollar. Yet, looking at the charts, clearly, it shows that the true resistance would be above 1.1850 while the floor of the pair can be found at 1.15 below. 

Given the high frequency in trading, there is a huge amount of volatility in the EUR/USD pair. At the end of the day, the 1.17 level offers support which is a good indicator or further goes up on Wednesday. Also, the 1.1675 level offers support where there is also a high demand. I assume that the market will look for value on dips, especially for hunters. Yet, traders should still be careful in putting money at stakes. Hence, I would suggest to trade slowly and then gradually add more to reach new fresh highs. 

In general, the pair could stay long in consolidation range which should be considered given that there will be a lot of noise and headlines could influence the pair for sudden movements.
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 Jul 19, 2018 1:15 pm

EUR/USD Technical Analysis: July 19, 2018 


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


The euro against the U.S. dollar is traded slightly in the area of 1.1650 but profits can be gained during the European session. The uptrend took place in the early hours of Asian market session due to recent bullish trend across the globe booking profits on the dollar. Yet, the outlook of the greenback is still optimistic because of hawkish rhetorics from the U.S. Fed chair Jerome Powell, which would probably affect the European and American session. Stocks on major world market reached a one-month high on Wednesday after strong corporate earnings. Meanwhile, the U.S. surpassed the levels on a three-week high against major currencies with more bidding involving the dollar. Yet, the profit booking activity slowed down the momentum of the dollar for a while. According to Powell, the United States would go for a steady growth in the course of trading and held back risks of the U.S. economy on worsening trade conflict. 


The dollar index grew towards 95.4, reaching a three-week high against other currencies and then settled in the area of 95.08 with an increase of 0.2%. Two more rate hikes are anticipated this year from the Federal Reserve in reaction to rising inflationary pressures. On the other hand, the ECB is presumed to raise their rates only in the middle of next year. The eurozone grew for the first time last year since the financial crisis between 2007 and 2008. Yet, the most recent survey of 100 economists results showed growth momentum has already reached the highest point. Nonetheless, the worsening trade war between the U.S. and their trading partners still presents real risks to the eurozone and influenced economists to lessen their growth forecast. 
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 Jul 20, 2018 1:31 pm

EUR/USD Technical Analysis: July 20, 2018 

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

The single European currency had broken down amid trading course on Thursday while a lot of negativity continue to be in this market. Forecasts say that the market would likely continue to be volatile but the market is determined to move lower near the 1.15 region, an area which has been a significant support in the past and a little bit of buying pressure can be seen in this zone.  While the current point of at issue is whether or not traders can break down beneath that level. A successful break down will be a great destruction for the Euro.

Otherwise, a rally from that level and regain the 1.16 zone has a high probability to happen. In that case, we could determine a move on top of the 1.1660 region followed by a potential rally. We can see the overall consolidation below the 1.15 area, which serves as the floor and 1.1850 above as the ceiling of consolidation where we are currently fixed.

It looks like that we will be stuck in this range for the next couple of days or weeks since it's already mid-summer and there many large traders from all over the world who are out of their offices. Aside from that, there are also varying issues regarding the Brexit which causes trading quite noisy and difficult for the EUR/USD currency pair.
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 Jul 20, 2018 1:36 pm

EUR/USD Technical Analysis: July 20, 2018 

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

The single European currency had broken down amid trading course on Thursday while a lot of negativity continue to be in this market. Forecasts say that the market would likely continue to be volatile but the market is determined to move lower near the 1.15 region, an area which has been a significant support in the past and a little bit of buying pressure can be seen in this zone.  While the current point of at issue is whether or not traders can break down beneath that level. A successful break down will be a great destruction for the Euro.

Otherwise, a rally from that level and regain the 1.16 zone has a high probability to happen. In that case, we could determine a move on top of the 1.1660 region followed by a potential rally. We can see the overall consolidation below the 1.15 area, which serves as the floor and 1.1850 above as the ceiling of consolidation where we are currently fixed.

It looks like that we will be stuck in this range for the next couple of days or weeks since it's already mid-summer and there many large traders from all over the world who are out of their offices. Aside from that, there are also varying issues regarding the Brexit which causes trading quite noisy and difficult for the EUR/USD currency pair.
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 Jul 23, 2018 12:28 pm

AUD/USD Technical Analysis: July 23, 2018 

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

The Australian dollar against the U.S. dollar trades a bit higher during the Monday session. A bit of a reaction was observed as the dollar weakened due to the added pressure on the Trump’s remarks to the Fed policy and his struggle with the strengthening of the greenback. 

Investors reaction to Trump’s rhetorics lead to the tight trading of the pair against the different monetary policy between the hawkish Fed and a dovish central bank of Australia that makes the dollar appealing for investment to traders alike. 

Also, traders are hesitant about their positioning prior to the weekly quarterly consumer inflation data of Australian and increasing Treasury yields from the U.S. 

The major trend has decline based on the daily swing chart. The trend will move up on trades towards .7443 and if it further reaches the level of .7318, the downtrend is likely to continue. 

Short-term trading of the pair will be between .7310 and .7484 with 50% pivot level at .7397. It seems that pair is being traded strongly at this level that could assist an early uptrend tendency. Traders should act on it to counter the support level on the first test today. However, if it fails to hold this level, the price could weaken with the main range at .7677 to .7310. If the trend goes up, then we can expect the retracement zone to be at .7494 to .7537 which will become the primary target in the upside. 

On a technical aspect, the AUD/USD pair will be based on the reaction of the pair for short-term trading at .7434.
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 Jul 24, 2018 12:09 pm

USD/JPY Technical Analysis: July 24, 2018 

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

Once again, the U.S. dollar dropped against the Japanese yen in day trading on Monday session. There was sufficient support found on the trendline and crossed below the level of 111 yen. It seems that the market is attempting to recover from here. Thus, a short-term bounce might still be far from happening. Predominant selling activity is due to the currency war but, nonetheless, hunters will still find this appealing to reverse the situation. 

As shown on the chart, the price plunged to the uptrend line with intention to bounce up. This can actually be considered as a perfect test of the uptrend line and it looks like value hunters are will attempt to join the market now. A rebound can be bought but there will still be some noise around regardless of what happens next in the days to come. Hence, it is ideal to trade in smaller trade. Although there is sufficient amount of demand below, a lot of noise is present above. In long-term trades, there is a tendency of the pair to move because of the risk appetite. Therefore, in case that trade tension mitigates, the market might turn around. 

On the other hand, if the market breaks lower than the uptrend line, the next target of the market will be the level of 110, which can serve as a support. Hence, it is likely for a correction to happen given the oversold condition of the pair, at least the in the next few trading sessions. Assessing the trend as a whole, there are higher risks on the upper channel than below but with high volatility around, traders should still be careful in trading this market.
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 Jul 25, 2018 10:37 am

GBP/JPY Technical Analysis: July 25, 2018 

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

The sterling pound moved sideways amid trading session yesterday, with an exception for a slight reversal and bullish pressure. As of this writing, the  ¥146 level above was unable to break. While the previous ascending trend line was broken through which stimulate a little bit of resistance. In case of a slice above the  ¥147 region will prove the strength of the recovery. On the contrary, we can expect for a lot of sideways action in the near term.

There are forecasts that the area under the ¥145 will be supportive which would likely require some pressure to cut through that region. Generally, the market will contain plenty of noise with a slightly downward proclivity as to the concerns about trade battles and the like.

It should be noted that the GBP/JPY currency pair is very sensitive to global risk appetite alongside the added issue of political chaos in Great Britain, which slightly puts off this market downwards. The presence of some reversal is very difficult to deal with but if we reach higher than the  ¥147 level, then new profits will pour in the trading place and would accelerate further. While a break down underneath the  ¥145 level would probably open a way through the  ¥142.50 region.
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 Jul 26, 2018 11:40 am

GBP/USD Technical Analysis: July 26, 2018 

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

The British currency drove higher amid trading course yesterday and attempt to grind above the 1.32 level. Generally, we can expect for the resumption of short-term pullbacks which may act as buying opportunities with a slower motion. In this case, shorting this market is not recommended due to the recent formation of some “basing pattern”. Also, there is a possibility of a move through the 1.32 region or 1.3250 eventually.

Traders should take note about the headlines which could possibly trigger issues with the sterling pound aside from the conflict between the Conservative Party and Theresa May, which argues for the common ground of the Brexit. Forecasts show that the market will begin searching for the level below 1.30 as the “absolute floor” of the GBP, hence, longer-term traders will buy the dips based on its value.

For some time, the pound became quite oversold and the “buy-and-hold” traders in the longer-term will return to the market to acquire benefits from lower prices. Ultimately, the dips can be seen turning around with impulsive trends and the top of 1.33 handle would likely be broken but may require a series of attempt to overcome that level.
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 Jul 27, 2018 12:12 pm

GBP/USD Technical Analysis: July 27, 2018 


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


The British currency had initially rallied yesterday but the 1.32 region appears to be slightly expensive. Moreover, the level around 1.3150 would likely have a lot of support underneath. It may take some time prior the buyers to return and push this market higher. Upon clearing the 1.32 zone, it is possible to trail through the 1.3250 area. This market appears to be bullish in general, however, the political issues with Great Britain may cause problems for the sterling pound. In the longer-term, there will be some resolution to the political theater which could help to resume an upward trend.


According to forecasts, the level below 1.30 is massively supportive since the figure is characterized as large, round, and psychologically significant. As expected, the weekly charts showed that it rebounded, indicating a higher possibility of buying pressure in that region. That area could be the “floor” of this market and considered as the most appropriate zone to begin purchases if there is any intention to move back there.
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 Jul 31, 2018 10:50 am

EUR/USD Technical Analysis: July 31, 2018 

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

The single European currency paired with the US dollar and reach higher than the 1.17 region. But, we can see plenty of supply above that level which makes it interesting to break on top of the 1.1730 handle. With that, it indicates a move through the area of 1.1750 but it is hard to break higher until the release of news from the central banks as well as employment figures this week. It is believed that the market will extend to the upside while players search for some short-term selling opportunity in the past.

Aside from that, the market was in a symmetrical triangle and the jobs figure could possibly break out that triangle and we expect a longer-term trade play on Friday. Apparently, the entire scenario might change because of geopolitical issue or some kind of news, however, the market would likely continue to be noisy in the near term while it will be difficult to stay in the longer-term condition. A break above the 1.1750 zone will push the market on top of the 1.1850 region, which is the highest point of the overall consolidation in the longer term.
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 Aug 01, 2018 10:42 am

GBP/USD Technical Analysis: August 1, 2018 

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

The sterling pound rallied throughout the day on Tuesday until the American hours, because the British currency takes advantage of the rally ahead which is expected to be an increase in the rate. Forecasts show that the market will resume to be very noisy or continue the “buy the rumor, sell the news.”  The level 1.32 would likely be resistive as well as the area of 1.33.

Meanwhile, short-term pullbacks have high chance to happen and in case that the Bank of England will not lift its rates tomorrow, then we can expect for a decline. Generally, the market establishes some kind of “floor” around the 1.30 zone but when the BOE will do something negligent, then a lot of support can be seen.

The buyers of dips anticipate moving over the 1.35 mark in the longer-term. Nevertheless, we should clarify such scenario with the Brexit prior making that move. Indecision might prevail over this market, so traders should keep their trading positions approximately small.

A break down underneath the 1.30 zone will test the 1.29 region consequently, hence, a break down to the downside will be extremely negative. The slightly positive bias range bound system is believed to be the best way to deal with this market.
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 Aug 02, 2018 10:57 am

GBP/USD Technical Analysis: August 2, 2018 


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


The British currency had a pullback earlier amid trading course yesterday, however, the level below 1.31 seems to be supportive and rebounded within 30 pips through the American session. According to forecast, the 1.31 region will continue to have support with the involvement of the Bank of England, since such large moves are impossible with this market. Moreover, the short-term pullbacks would likely open doors for buying opportunities, but the next scenario will be determined by the statement from London. Interest rate hike is further anticipated, making the statement more attractive to the traders’ attention.


When the UK’s central bank lifted its rates in the future, the British pound will gain optimism but it seems to be some kind of “one and done” scenario and may result to some selloff. The 1.32 region above will be the resistance, but a cut through on top of that level would push a move higher.


While a gap lower than the 1.31 mark would search for a significant support around 1.30 zone. An area that is considered to be supportive in the longer term and could offer a lot of opportunities to acquire major value.
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 Aug 03, 2018 8:56 am

EUR/USD Technical Analysis: August 3, 2018 

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

At the beginning of Tuesday session, the euro dropped sharply with the support level found at 1.16, which is the bottom of the symmetrical triangle as a large round psychological number. Hereinafter, it won’t be long before the market attempts to break out of the symmetrical triangle since the jobs data will reach it. If the pair breaks the level of 1.16, the market could slide down towards 1.15 where there is an important support. Moving around, the pair breaks higher than 1.1750 that offers resistance and breakthrough on this level would push the price towards 1.1850. 

It is not unexpected that the pair will move in the middle of the symmetrical triangle after the trading session with the release of jobs data. There is a lot of noise in the market amid the subdued month of August that slowed things down. It seems that there is a massive support at 1.15 and it will be a significant event for a break lower. It is likely for the price to consolidate in the next few weeks. In this case, a breakout on the symmetrical triangle will dismiss it.
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 Aug 06, 2018 10:53 am

USD/JPY Fundamental Analysis: August 6, 2018 

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

The USD/JPY currency pair trades slightly lower on Monday morning, however, the pair was able to keep its position above the Friday’s low. The market lost its entire gains after accelerating to 112.152 level and followed by the Bank of Japan’s decision on monetary policy last week.

While both monetary policy decisions of the U.S. Federal Reserve and Bank of Japan neutralized each other last week and much of the price activity favored safe haven purchases linked with the increasing trade battle between China and the United States.

Another factor that contributed to the weakening of the USDJPY was the U.S. Non-Farm Payrolls report that came mixed on Friday. The US labor growth further declined than predicted in July, but the weak jobless rate indicates that the job market conditions tighten. The traders of the dollar/yen pair continue to observe the  U.S. Treasury yields as it dropped on Friday after the labor report. Also, the insufficient economic data on Monday allowed the USDJPY investors to focus on the U.S. Treasury yields and such developments with the trading relationships of the US and China.

Moreover, the expected direction of the USD/JPY for today can be identified by the trader's respond towards the 50% to 61.8% retracement zone at 111.459 to 111.295 in the near term. A sustained move at 111.459 would likely create the required impetus for an upside bias, while a sustained trend below 111.295 indicates the existence of sellers.
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 Aug 07, 2018 11:52 am

GBP/USD Technical Analysis: August 7, 2018 

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

The sterling pound had a significant break down as this week started along with some current issues regarding the Brexit. However, the trend for the next day seems crucial. The level below 1.29 is massively supportive according to the longer-term charts, which serves as the bottom of the zone in FX markets. Hence, a break down under that zone will indicate a longer-term sell signal. 

On the other hand, a reversal and a rebound would prompt buyers to return and pick up some value. This will further heighten some optimistic news from the United Kingdom which involves Brexit.

The next target for a break down is the 1.2750 region or the 1.25 level eventually. The GBP remains to be difficult to deal with due to a lot of concerns regarding its economy. While volatility can be reliable for the pound/dollar for some 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   Wed Aug 08, 2018 10:35 am

USD/JPY Technical Analysis: August 8, 2018 

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

The U.S. dollar slid down against the Japanese yen to rise on Tuesday, although, there is a bit of noise down below 111 that could reverse the situation and appeal to buyers to jump in. Concerns on trade war continue to prevail on the market, which can be viewed as “ground zero” on the headlines. It may not take long before the traders turn around that can be influenced by the headlines going out. 

Risk appetite moves along with the pair which should be always kept in mind. It is logical that the trading activity will take place in this area in the next 24 hours but if the price breaks lower than 111, there is a possibility for a break down lower than 111. There is a chance if the price moves down to 110.50 and even further to 110. Moving up, the level of 112 offers a lot of resistance and currently, a return to the recent highs may be my target but it is not necessarily a big move to the north, at least not until the trade war between China and the U.S. is settled. There is a high optimism in trading for short-term and traders should expect for choppiness and range-bound trading that is already common at this time of the year.
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 Aug 10, 2018 9:15 am

GBP/USD Technical Analysis: August 10, 2018 

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

The British currency seesawed during the trading course yesterday while testing the 1.29 region for resistance but, there is no dramatic selloff happened. As of this writing, the GBP/USD is oversold and many professional traders await for a rebound to begin selling again. While retail traders are very good in “chasing the trade” which makes them sell down from that level.

Apparently, there are a lot of problems with Brexit and because of that, people are waiting for the headlines from London especially when it has something to do with the referendum or the consensus with the UK Conservative Party.

Eventually, it seems that the pound/dollar pair would likely reach even lower but traders should not let this to happen because the pair is almost oversold. It should be noted that the level above 1.30 will serve as the resistance. Sooner or later, traders will beat up the sterling pound, however, there are scarcely any of them who are currently selling. It is suggested to move near the 1.2750 zone for the next couple of weeks, but the unity with the Conservative Party would support this market to grow.

It looks like that the weakening of the pound will nearly end because of the few people who remained short in this market and nobody wants to suffer from a rapid price decline. While selling rallies in the near-term on signs of exhaustion is expected to remain effective.
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 Aug 13, 2018 12:44 pm

GBP/USD Fundamental Analysis: August 13, 2018 

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

The British pound was priced at 1.2750 in the early session with the support at 1.27. Currently, the pair is traded at 1.2763, dropped by 0.07% on the day, implying signs of consolidation. In the previous week, the pair returned full scale due to risk aversion as a precaution to the Turkish banking sector in the emerging market. Meanwhile, traders are moving back to the US dollar with risk flows at a full reverse while the British pound is presumed to continue with a strong bearish sentiment against the greenback after the Bank of England Governor Mark Carney & Trade Secretary Liam Fox gave an indication of a no-deal Brexit possibility.


In the technical perspective, there are hints of a continuous bearish approach despite the fundamental news hinting on a bullish pullback possibility. For a third succeeding week, the pair has been on a bearish decline with no signs that could indicate downward exhaustion and technical indicators of strong downward slopes. The RSI is around 24 at the moment. On the 4-hour chart, the pair moves bearishly with the 20-SMA directed downward at 1.2865 and the momentum indicators just entered a modest upward correction. The technical levels on the resistance level will be at  1.2795, 1.2830, 1.2865  and the support level will be at 1.2720, 1.2680, 1.2645.
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 Aug 14, 2018 10:51 am

GBP/USD Fundamental Analysis: August 14, 2018 

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

The trepidation of European banks has pushed the euro down over the past two days. Some reports reveal that a pastor has been detained in Turkey that could appease the tension between Turkey and the United States. Consequently, this pushed the Turkish lira and eased the pressure and fear in European banks. In these considerations, a resumption higher is likely to take place. Thus, there are technicals that should be monitored such as the level of 1.1475 which was an important supply level previously. Of course, there is the level of 1.15 and beyond that. Needless to say, there is a bit sign of pause and any signs of a problem could cause a rollover of the pair. 

One concern is the little information about the Turkish economy that puts them in the spotlight globally. Hence, the market is likely to be anxious, siding on a safe side over anything else. If the price breaks above the level of 1.154, the price will probably continue to rally substantially. Later on, a short-term rally could be reversed with the choice of wrong words.
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 Aug 15, 2018 11:45 am

USD/JPY Technical Analysis: August 15, 2018 

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

The American currency attempted to rally amid trading session on Tuesday, however, the level above ¥111 appears to be very resistive to resume an upward movement. And this does not surprise the market at all since this area had some previous selling. At this moment, the market would likely find enough reason to respond to the current situation of Turkey.

Aside from that, another issue to worry about is the global trade conflicts which involve the United States and China. Eventually, finding a resolution to the current situation will enable the interest rate outlook and interest rate differential of both countries to engage actively in the market. With this, the main focus should be on trade when it comes to the USD/JPY currency pair but when factors involving the USD will ease, there would be a resumption of support. As the market would likely continue to favor this scenario due to increased US interest rates against the difficult status of the Bank of Japan for not being able to imply rate hikes in the future. The ¥110.25 level provides an initial target to the upside, followed by a move towards ¥112 level. A break down from that point, the level below  ¥110 should be supported.
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 Aug 16, 2018 11:28 am

EUR/USD Technical Analysis: August 16, 2018 

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

The single European currency slightly edged lower amid trading course on Wednesday, and move lower to the significant level 1.13. It is possible to gain a bit of rebound from that area. Also, some type of selling opportunity is expected to see on rallies and shorting this market will show signs of exhaustion. A lot of concerns remain towards Turkey’s contagion to the EU, which would likely be seen as there is a shortage of US currency around the world.

As expected, the euro was beaten recently which demonstrates occasional value play and look to pick up dips. Traders should wait for a shooting star pattern on the hourly chart and the level above the 1.15 region is the “ceiling” of the market. Moreover, a significant break on top of that zone may consider purchasing this market as shown in the daily chart.

A downward movement can be anticipated in the near future. Based on some technical analysts, the market may reach as low as 1.05 at the end of 2018. The next potential target is 1.13.
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 Aug 17, 2018 10:05 am

GBP/USD Technical Analysis: August 17, 2018 

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

The sterling pound attempted to rally yesterday but had some struggle at the 1.2735 level, an area that reaches up to 1.2750 and considered a major support zone in the longer-term charts. Failure to break above that level indicates a short-term rebound that will engage traders to join. The market uses the 1.27 region as a minor support for the daytime trading but it has low chance to change the general forecast for this market in general. The target is at the area of 1.25 which is regarded as a psychologically significant figure.

A break down beneath the 1.25 zone would likely offer an opportunity to sell or give up the sell-off period. It is believed that most of the Brexit selling had already been taken into account but we should expect for some downward pressure. Nevertheless, an extensive flat can be seen and the further scenario will begin when people would realize that the UK will separate from the EU to have its own empire.
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 Aug 22, 2018 11:14 am

EUR/USD Technical Analysis: August 22, 2018 

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

The single European currency had rallied amid Asian trading yesterday and further break above the significant level 1.15. Nevertheless, the gains were only temporary followed by a pull back to test the region along with the onset of American hours. Moreover, this seems to be a completely impossible breakout which may lead to the thought that Turkey is still the concern of most traders.

It remains a question whether the hammer formation in the previous week indicates a technical rebound or value hunting. It seems hard to answer for now but we consider it more of a technical correction. There is a potential area that extends towards the 1.1550 region, which could open doors to reach the upside effortlessly and touching that zone will make an impressive situation.

As expected, headlines will move the market but traders should keep an eye to the American dollar as it tries to gain strength since the New York will begin the day. With this, the US dollar will certainly strengthen against the EUR/USD pair. While market players remain concerned about the current status of the European Union since the issue continues to linger in the traders’ minds. Take note of the headlines from Turkey because as their news worsens, it would greatly affect the Euro.
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 Aug 23, 2018 10:56 am

EUR/USD Technical Analysis: August 23, 2018 

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

The euro rose higher during the Wednesday session but it may be difficult to reach the level of 1.16. This level may appeal to some value hunters especially close to the level of 1.1570 and the area of 1.15 to be psychologically important. Overall, the market will still worry about the Turkish problem but may be excessively inflated. At the same time, media may overplay the situation given the possibility to repeat another great recession which will quickly attract headlines attention.  

The level of 1.15 is significant as of the moment and if the market can hold this level, there is a chance for the price to rise higher. However, if the opposite happens and turns out negatively, it may wise to begin selling the pair. In this case, it would be best to be optimistic but still heedful until the level of 1.1850, which was previously the trading level at the top of the consolidation range. Noise should be anticipated but keeping in mind that other high-frequency trading algorithms in the market.
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 4 of 6Go to page : Previous  1, 2, 3, 4, 5, 6  Next
 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: