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Daily Market Analysis from ForexMart
USD/JPY Technical Analysis: August 14, 2017

The U.S. dollar rebounded on Friday as it reached the 109 level which seems to be appealing to most traders. There is a high volatility for this currency pair with noises involved between North Korea and America. People are looking for safety currencies such as the Japanese yen to move forward.

There are various noises found at any moment which seems to persist. After some time, there will be more opportunities for long-term although sellers are predominantly taking over for short-term.

It is suggested to trade in small positions amid a highly volatile environment. However, if the price breaks higher than the 110 level which indicates the strengthening of the market that could reverse the trend and induce higher volume of purchases.

A pullback to the 105 level is possible since there is more support found in there. This would make trading more complicated and it is anticipated to have sudden fluctuations which could induce fear globally. Overall, volatility will be a big problem with the currency pair.
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GBP/USD Fundamental Analysis: August 18, 2017

The GBP/USD remained trading in a sluggish manner and another attempt to cut through the range lows was seen near the 1.2860 level. However, the Cable was able to survive again but due to a lot of rising attacks, the pair may not hold on too long before it breaks down and the sterling weaken.

The trading session on Thursday seems very choppy among various major pairs, as the greenbacks drove towards that course and also because of the release of Fed’s meeting minutes. The minutes came in slightly dovish which weakened the US dollar and triggered a round of dollar selling following the release. But on Thursday morning until the first half of the day, the USD managed to recover its strength which supported the reversal in the whole trend. This happened after issuing the minutes and the GBPUSD returned to its lows, poised to make a breakthrough.

Moreover, there are some talks about the resignation of Trump’s staffs and despite these false rumors, the dollar was pushed in the backseat. While the surge in global risk sentiment associated with the terrorist attack in Spain, further dragged the dollar towards the pressured area. With this, the pound-dollar pair recovered a little bit, but the Cable still trades around the lows of the range. Amid strong data from British retail sales, the pound bulls remain hopeless as the sluggish trading will keep on going.

Ultimately, there are no any major economic releases from the United States or Britain until the end of the day. Hence, consolidation is further expected but the weakening of the dollar was felt across the board. The GBPUSD is projected to be buoyant during the consolidative period in the near term.
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GBP/JPY Technical Analysis: August 23, 2017

The British pound against the Japanese yen surged at the beginning of the Tuesday session although there has been difficulty in the former uptrend line which has a breakout recently around the level of 141. Hereinafter, they have been moving in a bullish stance. The 140 level will most likely be the support level with a bit of consolidation with a negative tone.

Although the Japanese yen has been weaker during the trading session, the pound has been moving in a similar way that lessens the risk of the pair to collapse. There was a fresh, new low signals selling of the pair. If the pair breaks over the 141 handle, there would be a bullish sentiment.

The market is sensitive for a risk appetite which would induce the market reaction to the stock markets, commodities, and other markets. It won’t take long before the market left and if this persists to rise but there is still a risk with the Brexit process. The volatility will return to the market soon. Trades have to careful of the weakened market condition which could pose a problem in trading.
Andrea ForexMart, Official Representative
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EUR/USD Technical Analysis: August 24, 2017

The EUR/USD pair had a calm trading session on Wednesday. Soon after it climbed much higher with a bullish overall sentiment in the market. Overall, it is not surprising that the U.S. dollar is continuously sold. The manufacturing data from the European Union would not have any effect to the pair as it came out positively.

Considering the long-term charts, there is a bullish trend that is about to begin. Also, the ECB President Mario Draghi did not mention the value of the currency and it seems like that the central bank does not keep track of the value of the currency. If this is the case, the bullish tone of the pair will most likely continue especially if Janet Yellen gave off a slightly dovish hint on Friday.

The market will continue to buy on the lows which will significantly give more support. The 1.17 level positions as the support of the market and if the pair could maintain its level above the said level, the price could further go up. On the other hand, the 1.20 level gives off a significant resistance and an increase in momentum is already expected to reach the target level.

Meanwhile, it is possible that the market will buy short-term dips to raise a bigger position since a breakout occurred recently above the consolidation in the past few years that could soar the price up towards 1.25 level. Long-term trades would support the euro and selling of the U.S. dollar. However, it would be best to wait and consider the whole situation if a breakdown lower than the 1.17 level occurs.
Andrea ForexMart, Official Representative
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USD/JPY Technical Analysis: August 25, 2017

The U.S. dollar paired against the Japanese yen rallied on Thursday session as it reached the 109.50 level. However, the event related to the random tweets of the president reversed the situation and people are anxious on the budget issues in the United States. This resulted in simple noise which happens every now and then and turned around at a faster rate. The most awaited speech from Janet Yellen in Jackson Hole which would give a hint the outlook of the Fed regarding the economy. A hawkish sentiment would support the dollar and push it much higher. However, if she gives a dovish tone instead, this pair would plunge lower.
Andrea ForexMart, Official Representative
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GBP/USD Fundamental Analysis: August 30, 2017

The pound-dollar pair followed a pattern made by the single European currency and closed the day unchanged despite the high level of volatility throughout the day. Yesterday morning, we witnessed the weakening of the dollar that helped the GBPUSD to drove above the region 1.2950. Later the day, the strength of the greens returned and the Cable corrected under the 1.2950 level and ended the day unchanged.

The London market was able to have its initial reaction regarding the remarks of Yellen and Draghi last Friday. According to expectations, their reactions are focused to the dollar selling across the board.

Yellen did not provide support for the dollar amid its sluggish stance, hence this signaled traders to sell the USD. This assisted the pair to reach the 1.2950 zone and further drove near 1.30, however, stalled due to heavy selling. It leads to pair’s correction which helped to touch the 1.2920 support region as of the moment.

As the month nearly ends, the month end currency flows is expected which could influence the sterling in the near-term. In respect to the ongoing negotiations of Brexit, risks are also anticipated to put pressure on the GBP. however, as the greenbacks continue to weaken, the Cable would likely have extra support to ascend to 1.3030 in the short term.

Ultimately, there is no scheduled major release from the United Kingdom for the rest of the day, except for the US ADP employment report and Preliminary GDP data. Both data has the potential to cause volatility for the GBP/USD and has the chance to push the pair touch the 1.30 mark.
Andrea ForexMart, Official Representative
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EUR/USD Technical Analysis: September 4, 2017

The manufacturing data has exceeded predictions which countered the weak U.S. jobs data sustaining the range of the dollar on Friday prior to the long weekend holiday in the United States. The seasonally adjusted jobs data that propelled much lower expectations yet an increase of 156,000 was much more serious than anticipated. The European Central Bank speech implies that inflationary targets have not been attained that impedes the movement of the currency pair.

The euro against the U.S. dollar rose after the weakened U.S. jobs data but declined soon-after. It maintained an uptrend ahead of the support region close to the 10-day moving average at 1.1860. The resistance of the currency pair was set as the weekly highs at 1.2070 region. There is no momentum while the price rate is moving higher at a slower pace. Thus, the MACD histogram was almost zero-index level with a flat course that results to a consolidation.
Andrea ForexMart, Official Representative
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GBP/USD Technical Analysis: September 5, 2017

Primarily, the sterling moved sideways on Monday, however, drove downwards to find some support and in order to make a rebound. The United States is currently in a holiday to celebrate the Labor Day, hence, the trading volume will be heightened during the European session.

Moreover, the market is having some conflicting pressure while players lack confidence about the possible increase of the Fed interest rates for this year. However, there are various concerns regarding the British exit from the European Union.

It is possible that the market will continue its choppiness which suggests to better trade in small positions. We should search for some pullback while the market should push lower touching the 1.2850 in the longer term. The 1.30 region appeared to be really resistive but when the 1.3050 area will be broken, buyers would likely take the driver’s seat once again.

It is expected that the market will keep on having some noise, but there is also a possibility that the market is seeking for clarity which is hard to look for because of the increasing noise in the markets.

It should be noted that the liquidity will not raise until the following week, considering that majority of the traders are not present due to the holiday.
Andrea ForexMart, Official Representative
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GBP/USD Fundamental Analysis: September 6, 2017

The British pound soared to 1.30 and labeled as the strongest currency for the day during Tuesday session. Currently, it moves to the highs of the range in the 1.3030 region and put a risk for a breakout. It seems to be not performing well in the past whole week but this was supported by the expected data from the U.K. and the weakened dollar which has assisted the recovery of the GBP/USD pair.

The center of attention has been the U.S. dollar majority of the day since the U.S. market opened after the long weekend as well as rhetorics from various speakers of the Federal Reserve. The market anticipates what will happen to the U.S. economy and when will be the next rate hike. It seems that they do not really think about it. It is mainly dovish on both issues but this did not appeal to investors which resulted in another round of selling the greenback.

In turn, this has supported the GBP/USD pair to ascend towards 1.3000 level and the 1.3030 is now an important resistance region. If it successfully breaks through the said region in a clean manner, the pair is anticipated to move towards 1.3250 region for short term. Yet, there is a possibility for this to happen when the dollar further weakened.

There is no major economic news from the U.K. for this day. The dollar will once again be the center of attention and if the market can recover for short-term. It seems that the dollar index is at a crucial stage where it could decline or bounce up from this point. It is ideal for traders to be careful and determine its next move whether it will go down or up prior to placing orders.
Andrea ForexMart, Official Representative
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USD/JPY Fundamental Analysis: September 7, 2017

The U.S. dollar against the Japan yen was traded lower during the beginning of Wednesday session. Yet, the market has bounced off and almost kept the rate as it reached low levels at 108.441. For the week, the trading situation gives a similar outlook after the missile launch by North Korea over Japan.

The USD/JPY pair was seen positioning at 108.724 and declined by 0.078 or -0.07% at 10.21 GMT. The USD/JPY pair closed the session at 0.884 down by -0.81% on Tuesday.

The Forex pair dropped with the current tension with North Korea as well as the rhetorics from Fed speakers. Traders are getting anxious prior to the monetary policy decision of the European Central Bank on Thursday.

Investors keep on reacting to the happenings in the North Korea and the price movement of the safe haven assets. Moreover, the stock market compellingly suggests that traders are concerned with the minimal progress towards the lowering the threat of a nuclear war.

Traders have been anxious with the issue on North Korea especially since the next nuclear test will happen on Sunday. Across the globe, this act was being contradicted as the price movement in the stock market where more investors are being disappointed since there is lack of progress in controlling the situation.

The USD/JPY pair will most likely continue trading with the influence of the U.S. Treasury yields and opinion of investors. The price action of the U.S. Treasury yields which is supported by the economic data and Fed speakers. Reactions of investors are influenced by the geopolitical events about North Korea.

Some minor U.S. data such as Trade Balance, Final Services PMI and the Fed Beige Book and the major report on the ISM Non-Manufacturing PMI will be released on Wednesday. The anticipated figure will be 55.8 and increased from 53.9.

The whole report may not be that relevant and move the pair. Also, the investors will center its attention on North Korea since this is unpredictable. Fears of uncertainty are reflected for the first time with investors who are taking off setting positions in the stock a market and place the money in safe haven assets. Traders should monitor for another stock sell-off for today.
Andrea ForexMart, Official Representative
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USD/JPY Technical Analysis: September 13, 2017

The U.S. dollar moved sideways at the beginning of Tuesday session. Soon after, the pair rallied much higher. Currently, the level of 110 is being tested but there is still a gap that could raise some concerns. Nevertheless, this gap has been filled. However, traders should still be careful since there is a sign of “overbought” in the market. A pullback could happen after some time since the market is sensitive enough to react suddenly before going forward. Consequently, a breakout occurred at 110.25 level and the price will most likely move forward towards 111 level.
Andrea ForexMart, Official Representative
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EUR/USD Fundamental Analysis: September 14, 2017

The EUR/USD further declined on Wednesday due to the widespread recovery of the dollar. As of this moment, the greenbacks continued trading in a strong manner despite the sluggish data presented by the US Producer Price Index (PPI). This did not really influence the USD since the market is starting to like it and drove much higher among other instruments. However, this made an impact to the euro-dollar pair and led to a downturn in the past 24 hours.

There are also assumptions that President Trump and his team are one of the reasons for the dollar crashing in the previous months, but his actions appeared to support the greens now. The partners of Trump seems to lack support and he even attempted to negotiate with the members of the opposing party to obtain some help in accomplishing his reforms and further plans. D. Trump is trying to drive the issue about debt ceiling until the end of the year, while there are rumors that the American leader is interacting with the Democrats to fulfill his healthcare program and tax reform.

The underlying question is about the efficacy of the plan as a whole and the effectiveness of the project’s other details. Moreover, the market and the USD are in favor with this which ended on buying the dollar with an advanced optimistic outlook. Hence, the EURUSD moved lower down to 1.19 mark and currently sits at the 1.1875 support which is quite weak.

Ultimately, there are no scheduled economic releases from Europe for today, except for the major CPI data from the United States. The figures are expected to provide an outlook regarding the current inflation in the US. If the results were strong, it will enable the continuous recovery of the dollar in the near term, pushing the pair close to the 1.18 area.
Andrea ForexMart, Official Representative
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GBP/USD Fundamental Analysis: September 19, 2017

The trading has been sluggish but the pound still remains to be the tops in the volatility as it continues to move the market in the past 24 hours. Yesterday, the only major news was the speech of Carney and the market anticipates a hawkish decision which further boosts the GBP/USD pair during the first half of the day. However, it declined later on.

Although Carney has mentioned monetary tightening, the Bank of England still needs to take manage the economy. Yet, there are no specific dates which frustrate the market as the British currency dropped after the speech and move lower than 1.35 for the day. A rebound occurred overnight and traded higher than 1.35 although this could just be a form of a correction in a bigger uptrend that could still change.

Considering the upcoming data and the recent developments in the U.K., it is possible for the BOE not to give attention to the economy and the central bank will most likely react but only in the succeeding months. The BOE already said that they will have a reaction amid the uncertainty with the ongoing Brexit. These would result in a rate hike in the upcoming months. Both the central bank and the market are anticipating for the Brexit uncertainty would wear off in the next few months which hasten the decision of the bank.

Today, there is no major news from the U.K. or from the U.S. Hence, consolidation is already anticipated ranges between 1.35 and 1.36 for the day as the market manages ahead of the FOMC meeting tomorrow. The bullishness is presumed to persist for the GBP/USD pair for short-term and target for 1.38 and 1.39 levels.
Andrea ForexMart, Official Representative
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EUR/USD Fundamental Analysis: September 25, 2017

On Friday, the EUR/USD had another range trading and consolidative day and attempted to break the 1.2000 level. However, a sudden strong selling beat the pair back which pushed the single European currency under the 1.20 region. This scenario was already anticipated since the elections in Germany is scheduled over the weekend, considering the fact that there is no one who would like to have large positions until the weekend.

The elections took place and the results were announced, showing already anticipated outcome which is the victory of Merkel’s party. However, something unexpected happened as the formation of a coalition started since many have said that Merkel is incapable to lead a government by herself only. Moreover, this could continue for some days or even weeks and the market is not in favor with this. There are only some instances where markets preferred some uncertainties and this situation could probably keep going and could lead for the euro sell-off.

During the trading session this morning, we saw some sell-off in EUR, but a retracement developed. As of this writing, the EURUSD appeared to be weak which might continue until the end of the day. The London session is much awaited due to a lot of news regarding the elections that the markets would receive, allowing the market to make its own decision about which way to go. Hence, the indecision and uncertainty brought an impact to the euro.

Ultimately, the ECB President Mario Draghi is expected to have his speech along with Germany’s election results which could possibly control the EUR trend for this day. According to projections, the euro-dollar pair will be under pressure throughout the day.
Andrea ForexMart, Official Representative
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