Welcome Guest! To enable all features please
Login or Register . ×
NZD/USD Technical Analysis: May 8, 2017 The New Zealand dollar against the U.S. dollar initially rallied for the past week. The 0.69 level was seen to give significant resistance which hints the possible continuation of the uptrend. However, this is not a good indication for commodities which highly influences the currency. On a good side, the crude oil surge for a while during the Friday session. Yet, the commodity market could remain subdued which would then decreased the demand for kiwi. It won’t take long that this pair would further decline. If the pair breakdown lower than the 0.6850 level, the next level would be at 0.67.
Short-term rallies for this pair opens more opportunities which will soon push forward. The pair hovers at 50% Fibonacci retracement level and it is anticipated to have a lot of noise down beloW. However, if the pair breaks down from the expected level, this implies that the pair is not strong enough.
On the other hand, if the pair breaks more than the 0.7030 level, the price could extend up to 0.73 handle or higher. The pair is much more directed to the go downward instead. Traders should look out for commodity market which will influence the currency in the next trading sessions and it may be difficult to go long for long-term in this pair.
Andrea ForexMart attached the following image(s):
(24kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/JPY Technical Analysis: May 10, 2017 The British pound paired with the Japanese yen rallied during the Tuesday session. The market reached the 147.50 level and tries to reach the 148 handle. There is still a lot of space to climb higher towards the next target of 150 handle. Later on, the 147 level could become a support level.
Amongst a basket of currencies, the Japanese yen sells off the most and sensitive to risk appetite as a whole. Traders should not forget the pair to be volatile and long-term deals is predominant in traders.
The market should also monitor the stock market which is performing well relative to indices such as the S&P 500. Although, traders should expect volatility as it climbs higher and it seems that there is sufficient buying pressure to push the price higher. Nevertheless, reversals open opportunities to gain for this pair, especially for yen related market. It may not be advisable to sell this for now with buyers leading the market. There is still risk appetite which could induce the pair to further go up.
Andrea ForexMart attached the following image(s):
(22kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/JPY Technical Analysis: May 10, 2017 The U.S. dollar against the Japanese yen rallied as it broke at 114 handle. This would most likely move higher towards the 115 level which has been the peak of the last consolidation region and it would not take that long before the market reaches it. It is anticipated for a reversal to occur from now and then which will serve as buying opportunities in the market, most especially that there is a tone of bullishness seen in the trend. Volatility fluctuations is also expected that determines the weakness of the yen.
Price reversals could turn into an opportunity for this pair especially since the Japanese yen performs well in the market. Although, It may not be favorable to go short in this pair. The 113.30 region is being strongly supportive but there is a lesser possibility to go low to this level. It wouldn’t take long for buyers to return.
If the price breaks higher than the 115 level, this could move towards 118 handle. Although, it needs more momentum from the traders to reach this level. Hence, it may not be good to sell this pair for now.
Edited by user
2017-05-10T10:35:58Z
|
Reason: Not specified
Andrea ForexMart
Official Representative
USD/CAD Technical Analysis: May 10, 2017 The U.S. dollar paired against the Canadian dollar started flat during the Tuesday session as the oil market being calm but not too long. It was reversed and directed downwards. Another factor is the Canadian building permits that brought movement following its negative reports.
On the other hand, the U.S. dollar surged against the Canadian dollar as it breaks over the 1.37 level. The Resistance level was retested at 1.37 region and the 1.3750 level is being strongly resistive that prevents the pair to climb higher. The market has been very bullish for a long term and it won’t take long before the market reaches the 1.38 handle. A few days ago, there has been a selloff of this pair and if this occurs again, the pair could further go up.
The pair will continue its downtrend from 1.3793 and the uptrend from 1.3641 is a form of consolidation in the downtrend. This could be followed by consolidation towards the next target of 1.3550 level. A break over the 1.3793 region could trigger the price to go up towards 1.3900.
Reversals could attract buyers in the lower channel especially towards the 1.37 handle which has been a resistance before. It is possible for this level to turn into support region for the pair. The long-term trend becomes bullish although the oil market has uncertainty.
The crude oil inventories are about to be released to say which would most likely affect the trend. Reversals could serve as buying opportunities for this pair although the greenback is more favored over the Canadian dollar. Concerns in Canadian housing would add more hesitancy to the interest of the market to Loonie.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: May 11, 2017 The EUR/USD pair continues to exhibit an intermittent trading action, which has been the pair’s dominant price trend ever since the beginning of this week. The market had initially expected the currency pair to start off this week with a bang and consistently exhibit a positive trading stance throughout the week due to Macron’s recent victory in the French polls, but as of now the currency pair is on the backfoot as its bulls have decided to retreat and take out profits in order for them to purchase the EUR/USD pair lower as it continues its correction.
In addition to the EUR/USD pair’s weakness, the greenback has also been strengthening across the board as traders are now about to conclude their June rate hike pricing. All of these factors has caused the EUR/USD pair to exhibit corrections at under 1.0900 points. However, during the past two days, the currency pair has been either ranging and consolidating or exhibiting a choppy price action, which is an indication that the market is attempting to create its own base. The currency pair is expected to create a base for another bullish attempt as the after-effects of the most recent rate hike is now losing its relevance and the improvements in the EU economy is now starting to become more evident in the market.
For today’s session, there are no major news releases from the EU although the US economy will be releasing its unemployment claims and PPI data, although these are not expected to make a significant dent in the current status of the currency pair. The EUR/USD pair can be safely expected to remain its choppy action at the 1.0850 trading range throughout the day.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: May 12, 2017 The Australian currency showed some interesting trading session and had an initial downturn corresponding with the actions of the New Zealand dollar. A bit of rally had started as we look forward to found further resistance within the 0.7380 handle.
The Aussie appeared to be caught off guard as of the moment because of the rally occurred in the gold markets along with the partial decline of the US dollar.
In case that the precious metal would reverse and drop, the AUD will continue to weaken as well.
The commodity currencies may not be so attractive at this time since some of them are quite falling considering the CAD and NZD to have a softer stance while the Norwegian Krona also appeared to be dull. Not to mention the Mexican peso which starts to be weak again.
In order to initiate the selling, exhaustion and near-term rallies are to be found that may allow for a successful break above the region 0.7425.
Moreover, the volatility would extend that will offer value for the greens in which seems favorable for us. In case that we create a gap under the lows once again, the market is projected to move near the 0.72 handle, en route 0.70.
Andrea ForexMart
Official Representative
USD/CAD Technical Analysis: May 15, 2017 The USD/CAD moves like from pillar to post last Friday and continuously grinding above 1.37 handle. Meanwhile, the oil markets appeared to be disorganized as of the moment. We are directly standing above the channel while a pullback is inessential, however, when this price movement occurred then a move to the lower area would likely follow. Possibly down to the region 1.35 and moving through the mark 1.3250. Contrarily, a break over the channel, particularly in the 1.38 handle, will cause the market to trail atop of the level 1.40. Mainly, the oil markets should be given much consideration as it extensively weighs to the Canadian dollar.
Moreover, the commodity-linked pair is expected to be choppy but it looks like that the oil is in action at this time. The housing market in Canada shows some uncertainties while concerns may arise since the history of the US housing bubble were still remembered clearly by many traders.
The markets should consider sustaining a volatile session, however, the general uptrend will continue to drive through the upside in the longer-term. It further allows the longer-term and steady traders to acquire gains on top of the 1.40 range.
It is recommended to seek for pullbacks which provide value upon getting the chance as the greenbacks continued to be favored by the North American currency.
Andrea ForexMart attached the following image(s):
(24kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: May 15, 2017 The Cable decline within the week as it tested the bottom of the hammer in the past week. The range 1.2950 appeared to be resistive, moving near the 1.3 region. A break over the mentioned level will push the market around 1.3450, wherein a previous resistance was seen.
A cut through in that area would likely be bullish, however, there is a significant level of support found at 1.2750 range.
To be honest, it will be a tedious job to grind below just like breaking upwards. The short-term trading could possibly the simplest thing to accomplish since the market has high possibility to consolidate amid the two regions.
A move in the long-term is anticipated and a needs to break out within area to execute the trade. Meanwhile, a range bound short term is predicted as it will remain to take notice.
Moreover, a breakdown underneath 1.2750 will cause the market to continue to slide.
A significant amount of support can be found below, however, it would appear like the longer term downtrend resumption.
The British currency is currently surrounded by lots of dynamic strains, hence expect for a complex trend over here. In light of this, we decided to allow the market to take an action deliberately.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: May 15, 2017 The EURUSD edged upwards amid Friday sessions as it cleared up the top of Wednesday and Thursday candles followed by the release of the less than stellar figures of United States. In light of this, the market would likely touch above the 1.10 region which the resistance.
A gap over the mentioned area indicates a bullish tone, probably moving towards the 1.13 range trailing to 1.15 eventually.
The market consolidated in the midst of 1.05 and 1.15 levels in the past years. We are currently located in middle of the trading range which is close to the “fair value” which results for a complex trading setting in the near future.
The back and forth trading in the near-term is highly anticipated for the next few sessions. While short-term charts will also lead forward since consolidation is required in the overall region.
A gap overhead the 1.10 area will trigger further purchasing interest. However, a break below the 1.0750 mark will drove to 1.05 handle.
The market is projected to be very volatile and uneasy to trade, mainly because of the concerns that the European Union are currently involved with the United Kingdom together with other nations.
Despite the results, it is vital to maintain your stop loss take, and take note that the market is somewhat aimless in the long-term.
Andrea ForexMart attached the following image(s):
(23kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/JPY Fundamental Analysis: May 16, 2017 The USD/JPY pair experienced a turnaround during yesterday’s trading session after a sudden high demand for high-risk assets manifested during the earlier parts of the Monday session. The JPY was initially boosted by flight-to-safety buys but immediately disappeared as market investors chose to shift their focus to the surge in US equity markets. The USD/JPY pair closed down yesterday’s session at 113.787 points after increasing by +0.41% or 0.464 points.
Investors were generally worried with regards to Trump’s unexpected firing of FBI Director James Comey, the cyber-attack which made headlines last Friday, and the ballistic missile launch from the DPRK. The currency pair then began to hit rock-bottom after traders were practically unresponsive to these recent developments. This price action from the USD/JPY shows that investors might have become somewhat oblivious to these said developments. In fact, the cyber-attack was able to benefit the market after tech giants such as Cisco posted gains following the said online attacks.
For today’s trading session, investors will be waiting for the release of industrial production data, mortgage delinquencies data, building permits, capacity utilization data, and housing starts data from the US economy. If this specific set of data comes out as a market disappointment, then the chance of the Fed implementing more rate hikes in the future might be lessened, although the June rate hike has been pretty much priced in by the market already. In any case, this could also cause the US dollar to drop further in value.
Andrea ForexMart attached the following image(s):
(27kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: May 17, 2017 The EURUSD raise higher because of the support of a strong growth and below-than-expected data in the housing number of the United States which brought an impact towards the U.S Treasury yields, hence placing a downward pressure to the American dollar. The sales of US chain stores keep worsening that caused for the greens to move lower.
The Europe started to gain more confidence with hopes that the European Central Bank is going to remove the quantitative easing.
The pair climbed upwards reaching 0.9% near the mark 1.1080. The price was cut into the downtrend sloping line moving close to the support region 1.0990.
Further support is found alongside the 10-day moving average approaching the 1.0940 level. The target resistance can be spotted at 1.1299 touching its November peaks. Moreover, the momentum was positive since the moving average convergence divergence (MACD) histogram formed a crossover signal to buy. This is the result of the spread that crossed over the 9-day EMA of the spread.
The histogram shifted from negative to positive area indicating a buy signal. It also printed in the black along with an upward sloping trajectory and turns to a higher rate.
Andrea ForexMart attached the following image(s):
(21kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: May 17, 2017 The sterling pound’s bulls experienced a very harrowing trading day yesterday after the GBP/USD pair was unable to make any significant progress even after all the other major currency pairs were able to take advantage of the greenback going on backfoot. The cable pair remained within a very limited trading range and was unable to even advance towards its range highs, much less surpass this particular range. Several geopolitical issues has caused the dollar to drop, however, the GBP/USD pair did not have enough fuel for it to actually gain from the dollar losses.
The US housing data fell short of initial market expectations, and this proved to be somewhat damaging for the interest rate bulls who had already priced in the possibility of a June rate hike from the Fed. However, the market was more affected by news that Trump had apparently leaked top-secret information to the Russian government straight from the Oval Office, in addition to reports that Trump has apparently been caught dipping his fingers into a certain continuing investigation. These series of events triggered a massive dollar selloff, and while other major currencies such as the EUR were able to make use of this particular development, the sterling pound barely moved from its original position. The GBP/USD pair only slightly advanced from 1.2900 points and is now placed at just under 1.2950 points and does not look like it could induce a rally anytime soon. This is an indicator of just how weak the currency pair as of the moment and it could only be a matter of time before things take a turn for the worse.
For today’s trading session, there are no expected releases coming from the UK economy although international geopolitical events could possibly dominate the market for today. However, the GBP/USD pair is not expected to exhibit that much volatility given its recent weakness, and the pair should start a rally soon in order to placate any risk of the pair’s current standing taking a turn for the worse.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: May 17, 2017 The Australian dollar closed higher than the U.S. dollar during Tuesday session. Investors responded to the raising concerns in U.S. with lower U.S. Treasury yields, feeble U.S. housing data and a lesser possibility for a Fed rate hike in June. The overall direction of the pair will depend on the Treasury yields. Traders reacted pessimistically to Westpac Consumer Sentiment dropping up to 1.1.%.
There are no major U.S. economic reports to be released today. Traders continuously keep an eye on problems with Trump regime and they have the chance to react to the most recent weekly inventories data of U.S. Energy Information Administration.
The main trend is directed downward as shown in the daily chart. The pair is trying to move higher from the .7329 low on May 9 although the momentum remains the same. To reverse the trend, traders need to impede the short-retracement zone between .7442 and .7469.
Traders should also look out for the resistance level as a strong resistance region is formed at .7454 with major 50% level. The closest support resides at .7384 key Fibonacci region followed by .7329 down below.
The current price level set at .7419 and stays between the resistance and support levels which means that traders have uncertainty and expected volatility in the market.
If buyers try to oppose the trend, the next psychological would be at .7443 and .7446 region then moves to .7449 and .7454 and will most likely gain momentum at .7454 towards the next target at .7469 level. The .7469 Fibonacci level at .7469 would be the turning point for the next downtrend towards .7501 angle.
Underneath, the initial support target would be at .7389 uptrend angle followed by a major Fibonacci level at .7384 and lastly towards the .7329 as the probable bottom support angle. However, if the market fails to attain this level, there is a high possibility for a breakout at .7359.
Until buyers return in the market and exceed the .7469 level, there will be least resistance and rallies will be fruitful in the market. This will affect the price trend whether it will be reversed or not. Currently, the market gives off a neutral stance.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: May 19, 2017 The Australian currency experienced a volatile session yesterday due to an initial shot higher with gold. But decided to sell off as the market needs for another leg found at the 0.74 handle, the support was found but rebounded.
The market appeared to be slightly mixed-up as of the moment and attempted to estimate the risk of the political uncertainties in Washington DC.
Based on a longer-term perspective, the market needs to maintain a bullish attitude only when the gold markets engage in the rally. It remains to have lots of noise though, a smaller position would be better while the Aussie continued to accelerate.
Meanwhile, charts showed some activity of buying on the dips which could be a good idea in trading in the market.
The level below 0.74 must provide a massive support because a breakdown under this range will generate a negative signal. Consider the potential gap within the upward bias, so it is advisable to hold for small positions on near-term charts generating short-term gains.
In case that we cut through above the mark 0.75, it will favor for a longer-term position. In this point in time, riding the market would let you experience emotional highs and lows.
As indicated in the previous charts and sessions, making money is easy in both directions but the market is currently choppy. It does not offer any signs as of now, causing the participant to endure difficulty in driving the market.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: May 19, 2017 The national currency of Britain climbed higher as the data of retail sales presented stronger figures beating expected result.
The level 1.30 contained some amount of psychological significance. A break out on top of it provides signs of bullishness. With that being said, the market is expected to move higher on a longer-term however the overall place appeared to be complex.
There is a likelihood that the market will trail upwards hitting the region above 1.3450.
The stronger statistics of the retail sales could be linked on some side of inflation because the figures and U.K suddenly gained greater strength.
We could still experience pullbacks occasionally and it should provide buying opportunities intended for longer-term traders.
A huge increase throughout the day indicates a bullish sign while trends could possibly break and when it happen, the market may need to take some time to rest.
The downtrend is over for the GBPUSD however, plenty of noise are needed to beat amidst the current range together with the mark 1.3450 which requires patience and diligence.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: May 19, 2017 The USD/CAD pair continues to exhibit a very steady trading manner during the previous session and seems to be largely unaffected by the currently very high volatility levels in the market. In spite of the recent turmoil affecting the US government and a spike in oil prices, the loonie seems to be unaffected by this and remains trading on both sides of 1.3600 points in a very choppy price action with no indications of a possible change in direction.
The recent surge in oil prices has kept the USD/CAD pair buoyant, and this is why the currency pair has stayed within the reach of 1.3550 points. The pair’s consolidation is expected to continue until the next few days since oil prices have already increased in the short-term. Meanwhile, the greenback could possibly backfoot across the board since the possibility of a June Fed rate hike has dimmed somewhat. If this indeed happens, then the 1.3550 range will become a very critical region to surpass and until the USD/CAD pair goes past this range, then it can be safe to say that the pair’s uptick is most likely to remain in the short-term. Otherwise, the currency pair could possibly revert to its previous range and could resort to a bearish consolidating price action.
For today’s session, the Canadian economy will be releasing its CPI data and retail sales data, both of which are expected to induce volatility in the pair’s price action.
Andrea ForexMart attached the following image(s):
(29kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
NZD/USD Technical Analysis: May 22, 2017 The New Zealand currency experienced a volatile session amid Friday trades as it broke on top of the 0.69 handle. A grasp to the level 0.6950 was highly resistive which is better than all the range for the previous weeks.
A break on top this region is considered significant looking forward through the top of 0.70 mark, this also allows the market to drive higher.
Moreover, the market would likely maintain its volatility and choppiness. The kiwi was highly sensitive against the risk appetite which appeared to be unpredictable at this moment. With that being said, the thought that the NZD will be one of the complicated currencies to trade is possible. The “risk on” sentiment has returned in the market favoring the profits for the buyers.
Moreover, the market will remain choppy and volatile for the next hours and the 0.6880 region below contains a massive support.
The “buy on the dips” will further extend, however, headwinds on top of it are within reach. In this case, the market has to provide lots of trading opportunities intended for the scalpers but the short-term traders will remain to draw attention towards this.
There will be some struggle that longer-term traders will experience, in order to search for a suitable position. Therefore, holding a trade for a lengthy period is difficult as there could probably some real size ongoing.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: May 22, 2017 During the Friday session, the pair GBPUSD remarkably did well since an extreme and rapid price decline occurred on Thursday. While an uptrend is tested, however, a turnaround was carried out promptly.
As the traders calm down, the market eventually break out in the upside hitting the top of the 1.30 region. In the previous trades, a renewed highs were formed and the Britain’s currency would likely look forward through the 1.3450 area that has consolidated in the longer term.
A break on top of the range 1.30 seems significant and the flash crash happened on Thursday still not clear which brought fears to many people. Moreover, the uptrend line amid that sudden drop matters a lot and it appears that the 1.29 mark can be the acting basement of this market.
The choppiness was still expected to continue but the market may indicate a bullish attitude.
The pullback eyes some support within the level 1.30 but a breakout towards a fresh peak would trigger a buying behavior.
The GBP attempted to change its general trend in the upside which could go a long way throughout establishing trend confidence.1
In addition, the uptrend will continue since the moving averages drove to the upside and selling is not an option at all. While a move forward would pave the way for the “buy on the dips”.
Andrea ForexMart
Official Representative
USD/JPY Technical Analysis: May 22, 2017 The U.S. dollar against the Japanese yen broke in the upper than stabilize the currency pair during the Friday session. This indicates that the market had adjusted with the minimal risk this weekend which is a positive thing.The trading has been strong which is being monitored by traders and they try to bring the price higher than the 112.50 level. Although, as of the moment, the trend is currently in accumulation. If the market could break higher than the 112.50 level would give a bullish tone in the market and would move the price continue to 114 level. This would even go higher when the Federal reserve decided to bring the interest rates higher and this possibility of raising rates caused selling early this week.
The U.S. jobless claims declined which is one of the major directives of Federal reserve that would most likely impede the interest rate hike. Others would want to be dovish or totally forget about it but it is not plausible to do so as the U.S. has eased monetary for the past years and is not exemplifying expected results. On the other hand, the employment is being tight indicating the strengthening of the economy which would bring the interest rates higher as expected.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: May 23, 2017 The USD/CAD pair has been exhibiting a very disappointing price action ever since it was able to test its range highs at 1.3800 points during the start of this month. The currency pair has been suffering from the repercussions brought about by the greenback’s weakness and the strength of the loonie which was mostly due to an oil price surge. This oil price increase was able to cover up the actual occurrences within the Canadian economy and has provided enough leverage for the loonie to advance, and this is why the USD/CAD pair has been consistently dropping value during the last two weeks.
As of the moment, the currency pair is now within a very critical region of 1.3500 points, where it continues to look very weak. The weakness of the greenback has been the dominant market trend as of the moment, with the dollar getting adversely affected by Trump’s political woes, which in turn has affected the US economy as well as its monetary policy. The market had initially priced in a rate hike this coming June, but with the recent slew of dismal events, it looks like the market’s players might have to put off this interest rate hike at least for now. In addition, the rising oil prices has helped the loonie to retain its positive image amidst Canadian banking concerns, wherein the majority of Canadian banks have been given the thumbs-down by ratings agencies. The loonie strength has also helped to offset the concerns surrounding the HCG and the housing sector.
For today’s session, there are no major news releases coming from both the US and the Canadian economy, although some Fed officials will be making statements today with regards to the US monetary policy. All these are expected to add downward pressure on the USD/CAD pair and cause the pair to test its support levels.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: May 24, 2017 The EURUSD attempted to move through the higher region on Tuesday, however, failed to maintain its gain upon reaching the level 1.1268. When the profit taking started the pair was pushed beneath the 1.12 handle.
Meanwhile, the stronger report of GDP and sentiment data buoyed the EUR/USD and the yields turned up in Europe as relating to its American counterparts. Moreover, the PMI readings kept unchanged in the month of May, as the German nation lead the charge that reflects towards a strong growth.
The major pair touched the higher high as it eclipses the prior day high using 5 pips. The resistance is found at 1.1299 level close to November 8 highs and in case the level will be broken, it would lead to testing 1.1365 region near its August highs in 2016.
The support entered the mark 1.1603 around the 10-day moving average. Momentum is slow-moving, seeing the moving average convergence divergence (MACD) print in the black together with a descending trajectory that drives towards the consolidation.
Andrea ForexMart attached the following image(s):
(23kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/CAD Technical Analysis: May 23, 2017 The USDCAD experience volatility during Monday’s session and had an attempt to rally, however, it made a reversal plunging under the region 1.35. The pair is relative to the crude oil markets and received a significant support upon the opening, while the OPEC seems to move nearer the deal regarding production cuts.
Having said that, the greens decline versus its Canadian counterpart which is the proxy of currency traders against the oil markets.
The ability to break down around it will allow the market to reach the 1.34 handle. However, a cut through the top of 1.3550 area will touch above the range of 1.36. This range is significant for the longer-term charts, and a broke within that area enable the market to drive upwards.
The volatile market is expected to continue considering the current condition of the oil coupled with Canada’s housing that brought an impact as well.
Sellers have executed a significant action as well which could give a chance to break 1.3550. But there is no such opportunity to initiate a long move, except that the higher timeframes (daily or weekly charts) could obtain a longer-term signal
According to forecasts, rallies will resume and will be providing opportunities to sell towards a market that experienced a lower grind in the previous sessions. Lastly, a gapped in the upside has to be accompanied by the oil markets that were rolled over.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: May 24, 2017 The Australian currency against the U.S. dollar broke above the 0.75 level but was also reversed soon after. If the price breaks lower than the 0.7450 region, the price would further decline. This is also similar for the long-term trades.
The gold market directly influences the pair including the risk appetite for these trades. However, it seems that the gold market is not performing well. The raw material trades from Australia supplied within Asia is also falling since there is low demand for copper and iron which are the fundamental trades of the country.
In a long-term trend, it seems that the market sustains the current trading condition. Its downtrend could attain up to 0.70 level for long-term. If the price breaks higher than the 0.7525 region, it could reach its way about the 0.7750 level for a longer term.
However, reaching the said level won’t be easy. Although, the market usually change position in a bullish pattern and makes it more complicated when the market worries. This is what anticipated to happen when the price soars that makes pullbacks not surprising anymore. The uptrend line is noticeable on the hourly chart and a break lower than the 0.7450 level would bring the price down with an increase in bearish pressure.
Andrea ForexMart attached the following image(s):
(24kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/JPY Technical Analysis: May 24, 2017 The U.S. dollar against the Japanese yen had a calm trading During the Tuesday session. The price rallied higher because massive support found at 111 level. The market tries to push it higher towards the 111.50 region and this could even go higher reaching towards the 112.50 level above which has been a significant psychological region previously.
With the fluctuation in the stock market, traders should monitor the indices especially the S&P 500 because of its high sensitivity to risk appetite. This would hint the next move in the trading market as there is a high correlation between the two. The Japanese yen being a safe haven asset would bring about greater risk appetite when it proceeded with a sell-off. This is a positive indication since a massive bullish candle was formed during the day.
If the price breaks higher than the 112.50 level, the current long-term uptrend will be sustained. This is a strong indicator but the market could attempt more than once to be successful as the market would most likely climb higher.
However, when the price breaks lower than the 112.50 level instead, the massive support will remain as of how it was in the past. The stock market is gaining momentum which could also push the price higher for long-term with a strong correlation with the stocks. Hence, traders should monitor changes not only in forex market but also in the stock market.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: May 26, 2017 The USD/CAD pair has been projected to be highly dependent on the state of oil prices as well as the OPEC meeting held yesterday, and in fact, the loonie skyrocketed in value as the OPEC meeting concluded yesterday’s meeting on a somewhat dismal note as far as the markets were concerned.
The market had initially hoped that the OPEC members would approve an extension of the production cuts since the majority of them are expecting deeper production cuts in the future. However, what the OPEC members did was to extend the production cut deal for another 9 months, with both Iran and Libya given an approval to maintain its current status quo. This turned out to be a huge disappointment for the market in general, and this caused oil prices to drop after a large selloff occurred. This was then especially unfavorable for the Canadian dollar, particularly for the Canadian economy as its fate relies on oil prices. As of the moment, the USD/CAD pair has reverted by 80 pips as the loonie starts to drop in value. The currency pair was also propped up even more by the dollar strength and now the pair is back at its support-turned-resistance level of 1.3500 points. The market will now be monitoring how this pair closes down this week’s session since if it manages to close down at over 1.3500 points, then this is an indicator that the bulls have regained control of the pair and the USD/CAD could possibly be poised for more increases. On the other hand, if the pair closes down at under 1.3500 points, then this means that the bears are now dominating the pair and the market might have to brace themselves for more selling at least in the short-term.
The US economy will be releasing its durable goods data and its Preliminary GDP data within the day, although traders are advised to sit back and wait for the session to close down before making any significant moves.
Andrea ForexMart attached the following image(s):
(24kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: May 26, 2017 The strength of the greenback has been the dominant market trend during the previous trading session. In addition, the bulls of the GBP/USD pair are also having a hard time with regards to keeping the value of the cable pair afloat, which is seen on how the bulls had repeatedly attempted and failed to break through 1.3030 points even though the USD has clearly dropped in value. This development shows just how the bears are slowly gaining the upper hand with regards to taking control of the cable pair.
But on the bright side, the drop in the cable pair’s value was not as much of a crash as initially expected since the pair’s drop has been somewhat slow and steady. But then again the corrections of the pair is now starting to get more significant, while its reversions are becoming more and more shallow, which is an indication that the pair’s bears are indeed taking over the currency pair. The GBP/USD pair was unable to even reach the 1.3000 range as the greenback starts to regain more strength due to the market re-pricing the interest rate hike next month.
For today’s trading session, the market is expecting the release of the Preliminary GDP data and the durable goods data from the US, while the British economy is not scheduled to have any economic releases for today. The GBP/USD pair is then expected to remain under pressure for the entirety of today’s trading session.
Andrea ForexMart
Official Representative
EUR/GBP Technical Analysis: May 26, 2017 The Euro against the British pound had a very choppy trading during the Thursday session as the market is attempting to push the price higher which could eventually break later on. There are also some pullbacks seen in the short-term which supports the current trend and gather enough impetus and volume to reach higher levels. If the price breaks higher than the 0.8675 region, the current trend will move upward reaching the 0.88 level that is relevant for long-term as shown in the charts.
Those reversals would gain more appeal to the buyers as it closes near the 0.86 support level which was supportive in the past. There’s an option to wait for a breakout first to lift it higher which implies bullishness in the trend which is beneficial for buyers.
The market is choppy influenced by the two economies and commentaries from both countries bringing a lot of noise in the market. Yet, the trend remains resilient as it is directed upwards although there are pullbacks every now and then. If the price breaks lower than the 0.8550 region, the market is anticipated to roll over. This is most probably because of major events which are usually unexpectedly fast when it happen. Overall, the buyers seem to dominate the market.
Andrea ForexMart attached the following image(s):
(23kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/JPY Technical Analysis: May 29, 2017 The British pound paired against the Japanese yen declined during the Friday trading session following the release of election polls much tighter than expected in Britain. Everybody expects the political route the way forward when it comes to leaving the European Union still leaves some doubt in the minds of the people.
The pair is usually sensitive to risk appetite that worsens the selling pressure. As the price breaks through the 143 level, the price would decline much lower towards the 142 handle as the market reaches to the support below. If the price surges from here, this would open more selling opportunities.
Traders should monitor the global risk appetite including the stock market, futures market and the condition of the British government and its currency, as these would affect the pair. As of now, the pair is moving downtrend searching for a significant level at 1.2750.
If the pair is able to stay in the upper region, the current trend could be reversed to find support below. Alternately, the price could decline towards the next significant support at 140 handle. Buyer should look to the long-term charts before placing orders. Overall, the market will be highly volatile and traders might want to consider major pairs related to the British currency for a faster turn around.
Andrea ForexMart attached the following image(s):
(22kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
NZD/USD Technical Analysis: May 29, 2017 The New Zealand dollar against the U.S. dollar has had a flat trading in early Friday but when the buyers returned, the price rose towards the 0.71 handle and above. Short-term pullbacks offer value in the market as the market tries to reach higher levels.
The 0.70 level gives off massively supportive until the price breaks lower which makes it complicated selling. Buyers will proceed with going long as the market is open climb higher although the pair is still involved with high risks. It is anticipated that the pair will most likely decline from here onwards that makes the pair more susceptible to risks.
There is a strong upward pressure for this pair and volatility would increase even more. The New Zealand dollar is highly sensitive to the overall commodity market that makes is important to monitor the commodity market not necessarily a certain commodity market.
There is high volatility in the market which will reflect in trading this pair. With the political concerns from the Washington, D.C., the pair is expected to be influenced despite its almost daily occurrence. Hence, traders should still be cautious that makes short-term trades more advisable to trade to make through the current problems concerning this pair.
Andrea ForexMart
Official Representative
USD/JPY Technical Analysis: May 29, 2017 The U.S. dollar against the Japanese yen declined during the Friday session. It reached the lowest level of 110.80. If it bounced back, this will signal a bullish trend but this would not be easy to attain as there is high-risk appetite especially for this pair. The 110 level gives off a massive support but is the pair breaks lower, the next level would be at 108 region at a quicker pace because there is a still remaining gap that has not been filled.
In the long-term, this pair will most likely go higher although it may take some time since the 112.50 is strongly resistive. A break higher than this region would be beneficial for scalpers to take advantage of bulls interested in the U.S. dollar.
Traders of this pair should monitor the S&P 500 index as this would have a big influence to the pair. If the index rises, this pair follows. Moreover, the chances for a Fed rate hike puts a bullish pressure for the pair. If it did not take place, it might be a problem for the pair although it is most likely that this would happen with its stature at stake.
Pullbacks every now and then offer long-term opportunities but for short-term, this gives off bearish volatility/ This could persist for some time especially with the major events concerning geopolitical problems occurring from Europe and the U.S.
Overall, the pair moves in an uptrend from 110.23 level and a decline from 112.13 will indicate a correction. It is expected to rise again following the correction towards the 113.50 level. The near-term resistance is found at 111.70 and a break to this level would mean a continuation of the uptrend. On the other hand, the support region is positioned at 110.80 and 110.23 and a break from these levels would push the price back again from 114.36 level.
Andrea ForexMart attached the following image(s):
(23kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: May 30, 2017 It was a market holiday on several parts of the world yesterday, and the absence of market volatility due to the said holidays was felt throughout the market during the previous session as most of the major currency pairs consolidated and traded within a very limited range yesterday. EUR/USD traders had only one thing to look forward to during the duration of yesterday’s session, which is Draghi’s speech wherein he made his usual statements on the lessening of downward pressure on the EU economy, although this had little effect on the EUR/USD pair’s current standing.
What affected the value of the currency pair was the news that Greece is now prepared to abdicate the following bailout fund if the EU will still be unable to reach middle ground as far as the conditions were concerned. This then caused the EUR/USD pair to correct towards 1.1120 points during the latter part of yesterday’s session. As of the moment, the market is still experiencing very low liquidity levels as the Chinese market remains to be on a holiday, and as such, traders are advised to take all market movements today with a grain of salt. In addition, the market will also be experiencing month-end flows before this week comes to a close, and this is why traders should take it easy in order to prepare themselves for the onslaught of economic data later this week. The Fed rate hike in June is still not fully priced in, and unless the market gets some sort of conclusion with regards to the Fed’s next move, then it will be very hard to determine the short-term price actions of the EUR/USD pair. But the recent correction of the EUR/USD pair should be taken only as a mere correction instead of a full-on trend change as corrections are deemed as normal in every currency pair.
For today’s session, the market is expecting the release of Germany’s Preliminary CPI data, as well as the PCE data from the US economy. The PCE data will be closely watched as this will indicate whether the Fed will be indeed pushing through with its rate hike or otherwise and could possibly induce a lot of volatility into the market within the day.
Andrea ForexMart attached the following image(s):
(26kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: May 30, 2017 In a sea of otherwise very inactive major currency pairs, the GBP/USD pair seems to be the only pair which has gained significant volatility during yesterday’s trading session. The cable pair shot up by over 40 pips in spite of a market holiday across several locations throughout the world such as the US, UK, and China. The lack of market activity yesterday gave the pair’s traders an opportunity to induce a bounce in the pair although it was unable to offset the 150-pip crash of the cable pair during the session last Friday. In spite of this recent reversal, the GBP/USD pair is expected to remain trading in a very weak manner as a lot of economic factors seem to be going against the sterling pound at least for the time being.
Members of the ruling political party in Scotland have recently outlined the possibility of a Scottish referendum if ever they get reinstated in the Scottish government. But then again there have been recent rumors swirling around with regards to the ongoing Brexit negotiations, specifically on how the negotiations will pan out once the snap elections in June come to a close. In addition, the results of the recent opinion polls are showing that Theresa May lacked the expected lead in the upcoming snap elections, which puts May in danger since anything less than a landslide victory for the UK PM will make this particular risk of hers in order to establish herself in the international scene a failure. The GBP/USD pair is also currently struggling to surpass 1.3030 points, and all of these factors have turned against the cable pair and has put a significant amount of downward pressure on the pair.
For today’s session, there are no expected releases from the UK economy although the US will be releasing its PCE data, which will be closely monitored by the market as this will be indicating whether the June rate hike will indeed push through or otherwise. If this data disappoints the market, then this will not bade well for the GBP/USD pair.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: May 30, 2017 The USD/CAD pair remained in consolidation mode as the market lacked significant volatility due to market holidays in China, US, and the UK. The loonie remains trading under the very important trading range of 1.3500 points, mostly due to a steadying in oil prices in addition to a strong greenback value.
The currency pair broke through 1.3500 points last week after a surge in oil prices. Although the oil bulls were very disappointed with regards to the results of the recently-concluded OPEC meeting, the loonie received some well-needed pressure from this drop in oil prices, thereby triggering the USD/CAD pair to revert to 1.3500 points and closed down last week at just under this critical trading level. The CAD is also currently being propped up by a series of very positive data from the Canadian economy, with this economic improvement getting some acknowledgement from the Bank of Canada in its rate statement during the past week. In fact, the BoC has already decided to put its rates on hold instead of implementing a rate cut due to this consistent improvement in the country’s economic state, which could then lead to a possible rate hike if the country’s economy continues to be positive.
For today’s session, the US economy will be releasing its PCE data which is expected to clarify the country’s inflation status in addition to shedding some light on whether the Fed will be indeed implementing a rate hike next month. If the PCE comes out as negative, then the USD/CAD pair could possibly correct further towards 1.3400 points.
Andrea ForexMart attached the following image(s):
(27kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: May 31, 2017 The Australian currency had slightly decline amid Tuesday trades, however, met a support around 0.74 mark to bounce back and climb upwards. An ability to cut through above the 0.7450 region is highly important. The resumption of the bullish pressure will prompt the market to advanced towards the area above 0.75, which is previously a significant resistance.
The rally is expected to run out within a short period of time, in case the gold surge considering a “risk on” rally. Therefore, the market has to continue trend upwards.
The gold markets appeared to be a safe place to get involved with. When gold was bought as a fear trade there is a tendency that Aussie will not follow. Nevertheless, a positive feeling towards the markets will help the AUDUSD to attempt a higher move.
The AUD is starting to gain strength, but the Kiwi appeared to be much stronger as it drives forward. Forecast says, the favor should remain in the seat of the New Zealand dollar, but there are predictions that both commodity currencies will go through similar directions.
A break down under the 0.74 range would indicate a negative signal and caused the Australian dollar to plunged lower.
Alternatively, the pair is projected to experience volatility, yet this is not new to this pair since the market always run in circles. Volatility awaits upon moving forward, for that reason you should look out on your stop losses.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/JPY Technical Analysis: May 31, 2017 The national currency of Britain weakened amid Tuesday trading, however, it had a significant rebound from the area 141.80 reaching the 143 handle. A break over the daily highs would direct the market in a higher position, as it may reach 144 level without plenty of issues.
Generally, the Sterling holds a significant amount of reversal throughout the day since the Cable further exhibited active signs. This could probably be a correction for the oversold condition where the GBP sees itself, after the election polling it became tighter exceeding its expectations in the past. Moreover, the figures decreased inclined with the conservative administration. Having said that, the uptrend will resume eventually, hence buying is highly preferred on the gap above the highest.
Remember that the pairs relative to Japanese yen appeared to very sensitive to risk. This could be considered as one of the most delicate pairs, the simultaneous rally of the stock market is a big help that could move 100 pips in an instant.
Either way, a cut through underneath 142.50 region would allow the market to touch 142 handle once again.
The daily candle begins to display a bullish stance which signals that buyers will return, nevertheless, it could be best that you’ll wait for the market to reveal hints to initiate the buying, as a means to safeguard your account against an extensive volatility.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: June 1, 2017 The EUR/USD pair looks poised to make another attempt at reaching its current range highs as the currency pair was able to take advantage of a correction in the greenback. This upward pressure in the currency pair is expected to last well into the first few days of June, particularly the 2 most essential trading days for this month.
The dollar experienced corrections on the back of a couple of disappointing data from the US economy. The first one was the Chicago PMI data, which failed to meet its expected economic reading and the pending home sales data, which also disappointed the entirety of the market yesterday. This triggered a large-scale dollar selloff against other major currencies and has enabled the EUR/USD pair to advance towards 1.1200 and was even able to reach 1.1250 points throughout the course of the NY session. Since the Fed had previously clarified that the implementation of the June rate hike will be wholly dependent on the results of the incoming economic readings from the US, the market has become very sensitive to readings coming from the US economy, with even minor readings inducing major volatility levels on the market especially if these comes out as very disappointing for investors. Eventually, the PMI data was revised to a much higher reading and this helped to cushion the blow of the fall of the USD, although this has left an impression on the market with regards to the adverse effects of a negative reading to the value of the US dollar. Meanwhile, the USD continues to be in peril in spite of its drop in value being temporarily stalled.
For today’s trading session, there are no major news releases coming from the EU economy while the US will be releasing its unemployment claims data and its ADP Non-Farm Employment change data during the NY session, which is a precedent to the release of the NFP report on Friday. This particular bit of news is then expected to induce major volatility levels and a move of the currency pair below 1.1200 points should be a signal for the pair’s bulls to rethink their positions.
Andrea ForexMart attached the following image(s):
(26kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
EUR/GBP Technical Analysis: June 1, 2017 The Euro against the British pound was highly volatile during the Wednesday session. It is being in tested in the upper channel and a pullback was seen reaching the opening for the day. The market is attempting to gain sufficient impetus to break higher than the 0.88 level followed by 0.90 level.
In the long-term, this pair seems to be much stronger although there is a lot of noise found in the upper channel causing the choppiness of the market. The market might move slower especially with various major reports from the European Union and Britain. Same goes for Brussels and London which will be the center of attention and this market can be easily affected by these outside forces.
It won’t be long before this pair rallies upward and it is advisable to either buy after a breakout or be more careful and wait on the sidelines. Selling might be more difficult for this pair neither placing a short-term orde. However, a move lower than the 0.86 handle is a good thing although it seems that the buyers dominate participants but might now last in the current condition of the market.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: June 1, 2017 The USD/CAD pair was able to advance further towards its range highs during the previous session in spite of the greenback suffering blows against other major currency pairs due to a series of disappointing economic data from the US economy. The loonie is now trading at just above 1.3500 points which is considered to be a very essential trading region for the currency pair. However, the market has yet to see whether the USD/CAD pair will indeed manage to go even higher and reclaim its bullish price action or if it will correct and return to its previous trading range.
This surge in the value of the USD/CAD pair has been mostly attributed to a string of weak economic data from Canada. As the Canadian GDP was released during yesterday’s session, the annual and quarterly readings for 2016 disappointed the market in spite of a very positive monthly reading. This was far worse than what the market had initially anticipated and has caused the loonie to correct and the USD/CAD pair to increase further in value. Oil prices also dropped while the Canadian inventory data showed a solid draw in addition to an added increase of Libyan production data. This caused both the Canadian dollar and oil prices to drop and was more than enough for the currency pair’s bulls to help prop up the value of the USD/CAD pair past 1.3500 points where it is currently sitting as of the moment.
For today’s session, the market is expecting the release of unemployment claims data and the ADP employment report from the US economy, both of which are of utmost importance since this serves as a precursor to the incoming NFP report due tomorrow. The oil inventory data is set to be released today, and this, together with the NFP report will most likely determine the short-term price action of the USD/CAD pair.
Andrea ForexMart attached the following image(s):
(27kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: June 2, 2017 The Australian dollar against the U.S. dollar did not have a good trading session on Thursday. It breaks at the 0.74 level followed by a rebound towards the 0.7420 region. Since then, the market declined and broke to a fresh new low. Currently, the pair is depreciating and makes it more vulnerable to further decline especially since the jobs data will come out today.
If the jobs data met the expectations, then this will most likely push the currency lower towards the 0.73 handle. However, if the pair moves in the upper channel then this would open opportunities to buy this pair especially if it breaks higher than the 0.7475 region. Although, we cannot be certain of now if this would occur since the market is still undecided on which direction to choose.
The next target for this pair is 0.73 level with the tendency to move forward which makes it more favorable for selling. The market already anticipates this and it will be good to follow so.
It seems that the currency is having a difficult time while the New Zealand dollar is performing better. Even so, traders still opt for the Aussie but traders should be cautious in buying this pair in the current low levels.
Overall the pair is sold-off by traders and it is reasonable to move along with this move. However, if this pair opens for the 0.73 region, this will push the price to lower levels immediately.
Andrea ForexMart attached the following image(s):
(23kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
NZD/USD Technical Analysis: June 2, 2017 The Kiwi dollar declined in the day during Thursday trade while testing the mark 0.7050. Despite the choppiness of the market, the New Zealand currency have the possibility to beat the Australian dollar. It does not mean that the market will establish an optimistic stance, rather it will become more resilient. The market will search the level below 0.70 because this holds a nice large figure, however, the release of US employment figures on Friday involves plenty of noise.
The market will found the resistance on top of the 0.71 handle and the rally will soon fade away because the mentioned region seems resistive. As indicated on the higher level of the chart, some type of channel are trying to develop.
The NZDUSD is not easy to deal with because it is the least liquid among major pair and when the announcement is made, it would likely to have a violent move. With this, it is suggested to steer clear from the commodity-linked pair as this could lead you to pain if you did not take proper caution. The ability to break down under 0.70 region would break down significantly. It signals a longer-term indicator, either way, it could toggle continually moving a gradual ascending grind.
As the market maintain a choppy stance, lots of opportunities were also offered.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: June 5, 2017 The GBPUSD declined on Friday and face through some volatility as the U.S. employment figures released with a lower than anticipated results.
The market now appeared to hover below the 1.29 handle considered as a major level. The ability to break on top of the said region would lead the market towards 1.3050 area which provided a significant resistance.
Buying on the dips remain to be the most suitable way in playing the market beneath 1.2850 that has been offering an amount of support. Meanwhile, a break over 1.29 range would trigger a continuous higher movement. In the long term, buyers will still get involved and show further strength sooner or later.
Headline risk could still remain since concerns regarding British exit keep forging ahead. This might influence the sterling in any moment. Ultimately, the pair can find a bottom upon staying beyond the level 1.2750.
Moreover, the built-in bid resumes in regards to the GBP. An attempt to move ahead the 1.3450 handle should be done. However, lots of issues and concerns surrounds the British economy, therefore it may take some time to reach the target. Selling is ruled out except when we cut through down the 1.2750 area.
Andrea ForexMart attached the following image(s):
(24kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: June 5, 2017 The EURUSD moved through an upward direction on Friday after the release of weak data on employment report. The U.S yields further weakened as prices ascended at a faster pace compared with the European bonds. This made the euro lure attraction of investors prior the ECB meeting scheduled next week.
The European producer price manifested stronger figures, beating expectation which paved the way for a higher rate on the pair. The pair had broken out on the back of a bull flag formation which serves as a pause to refresh higher.
The prices increased by 1.1282 region just shy of 1.1299 close to November 8 highs. The next resistance target is found at the mark 1.1365 near the highs of August 2016. The support reached 1.1206 area around the 10-day moving average.
The momentum came in neutral while the MACD histogram printed nearby the zero-index level whereas the index appeared to be in a flat trajectory suggesting for a consolidation.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: June 6, 2017 The USD/CAD pair continues to exhibited a very tight price action as the pair’s bulls and bears continue to fight out for the control of the currency pair and is expected to remain as the pair’s dominant trend in the short-term period. The pair has been trapped in a very limited range ever since the currency pair managed to push forward past 1.3500 points with buyers dominating the 1.3400 trading range.
During the past few days, oil prices have remained stable, thereby decreasing the amount of leverage it gave to the Canadian dollar and was one of the reasons why the loonie was unable to take full advantage of the dollar weakness which was due to a series of dismal US employment reports last week. Oil prices has also continued to be very disappointing due to rising tensions in the oil-rich Middle Eastern countries and has subsequently diminished its support for the loonie. In spite of the pair making a headway towards 1.3460 for a short while, it was almost immediately met with several buys, causing the USD/CAD pair to retreat towards 1.3500 points, where it is expected to stay put at least in the coming days. The market is now preparing itself for the trading sessions on Thursday and Friday as the currency pair would most likely undergo a volatile trading session due to Comey’s testimony as well as the release of the Canadian employment report on Friday. This is why traders are advised to remain in the sidelines until such time that a break shows up on the pair’s range before inducing any kind of progress in their trades.
For today’s session, there are now major releases from both the US and the Canadian economy and the USD/CAD pair is expected to continue consolidating throughout the duration of today’s session.
Andrea ForexMart attached the following image(s):
(28kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
NZD/USD Technical Analysis: June 6, 2017 The New Zealand broke in the lower channel during the Monday session. Later, the trend bounced off to fill the gap then declined again. There is massive support found in the 0.71 below which triggered the market to rise again as it reached the former break level. Currently, the market is attempting to move higher as it gains momentum to reach the 0.7150 region which would hint a bullish sentiment.
The market could also retreat from this level towards the 0.71 handle once more. Overall, there will be high volatility and persist for some time in the market since the New Zealand dollar is relative to commodities market which always changes. Hence, the currency is expected to be traded with a choppy environment.
Buying on the lows is advisable for this pair and is not surprising for them to return as the trend moves in a downtrend. However, shorting this pair may not be the best move. If the price breaks lower than the 0.71 handle, the next move would be to go downward toward the 0.7050 level.
Nevertheless, the market will be very choppy driven by geopolitical risks and in consideration of its sensitivity opting the U.S. dollars as a safety currency while the kiwi being the riskier one in this pair. Volatility is also anticipated to persist in either direction it goes.
Andrea ForexMart
Official Representative
GBP/JPY Technical Analysis: June 6, 2017 The British pound against the Japanese yen broke on the lower side during the Monday session which was upturned indicating bullishness in the trend. It is directed towards the 143 level and higher up that fills the gap. There is a robust resistance seen in the previous trades that makes the reversal unexpected. However, if the price is set higher, this would persist to an elevated level pointed to the 144 region.
It is anticipated to have volatility for this pair regardless of the next move since the market is in a “risk on” or “risk off” sentiment. Moreover, the British elections worsen the situation as it affected the British currency that brings unpredictability in the market until the election on Thursday. Other global economic concerns will also affect the trend.
Volatility is the current focal point of the market and if it gaps more than the 143 region, more buying opportunities will come out for the market. However, if the election polls showed conservatives leading in Britain, this push this pair aimed higher with chances to break higher than the 144 region then shift towards the 145 handle.
Traders should not expect that trading this pair would be easy that makes trades on small positions to be ideal for this pair or one could opt to wait in the sidelines as GBP/JPY is one of the pairs risky to position in the market.
Andrea ForexMart attached the following image(s):
(23kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
NZD/USD Technical Analysis: June 7, 2017 The NZDUSD rallied amid trades on Tuesday and broke the level on top of 0.7150 smoothly. The Kiwi dollar continued to search for buyers on dips and tend to handle some pullback as an opportunity to increase rate.
The market tried to touch the region above 0.72, en route 0.75 afterwards. As shown in the chart, the area around 0.71 handle provides a lot of support and regarded to be the floor of the market in the near-term uptrend. The commodity space continues to weigh on the market and the NZD seems to be the “barometer” towards the overall sentiment of futures trading. Watch closely for the commodity because it could possibly show the way.
It could be a good move to buy dips moving forward because it suits the current status of the New Zealand currency. Selling remains impossible as far as we breach under the 0.71 mark. A successful break down prompts the market to reach the range below 0.7050 which is very supportive previously, along with the 0.70 region. In any case, the market remains to be volatile, however, the moving averages came in reliable, particularly the 48-hour MA shown in green color, hence it should offer further buying opportunities.
The volatility driven market persists, but the late impulsivity indicates that buyers begin to develop more confident as it moves ahead. Moreover, the dips will provide value which is an advantage to market participants.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: June 7, 2017 The GBPUSD had attempted to rally yesterday, however, retreated to the level 1.2950 to return underneath the 1.29 handle. In the past few sessions, the market appeared to have a little bit of overall bullish pressure, waiting for the results of UK elections expected tomorrow. In this case, the market will probably experience choppiness and unprepared to conduct a significant move yet. Short-term volatility is predicted along with some choppy spots but a general ascending momentum should also be anticipated. It does not mean that a pull cannot be accomplished, it only implies that longer-term charts and the range below 1.2750 should offer massive support that will surely lure the attention of the majority of market participants.
After the session on Friday, the long-term outlook for the pair shall be available as it could be very difficult from this moment and the next.
Buying the dips remains to be the best option for the Cable but the dips showed to be somewhat steep. You should have got small positions as of now and after the election results in order to acquire lesser damage that might suddenly arise.
Markets have lots of speculation regarding the election decision, therefore a cool level head should be maintained as this is crucial for the following sessions.
In the longer-term, the pair might break the 1.3050 mark as it allows the market move higher freely, or maybe reach its long-term target found at the region 1.3450.
Andrea ForexMart attached the following image(s):
(24kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/CAD Technical Analysis: June 8, 2017 The USDCAD go through sideways amid Wednesday’s trades and attempted to push downwards reaching 1.3425 handle. After that, the market had broken out to the upside on the back of releasing the figures of Crude Oil Inventories. The number showed that oil demand declined again while the greenbacks broke to upside and collapse over the 1.35 handle.
With this, the commodity-linked pair is preparing to resume the longer-term uptrend with anticipation that buying dips will progress.
The Canadian dollar is expected to struggle as demand continued to be sluggish relative to the crude oil market. A break on top of 1.36 handle prompts the market to move forward near 1.40 region eventually. As buying dips in the near-term will persist, selling the market seems uninteresting. The U.S. dollar has to extend its gains versus the loonie because the oil keep on dragging the currency in the longer-term
A breakdown or pull back cause buyers to missed the trend during the announcement.
The position on the lower level showed plenty of choppiness, hence, down there might have the same degree of irregularity because support will be provided for pullbacks. Therefore, expect a lot of order flow accompanied by “market memory found in the lower areas.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: June 9, 2017 The EURUSD drove downwards as the European Central Bank (ECB) decided to maintain the interest rates on a steady pace coupled with dropped easing bias. This further took a neutral position with regards the way they will see the monetary policy.
The schedule for quantitative easing remained unchanged while rates should be expected to retain its recent levels as reflected in the transcripts.
The pair moved near the support shown at 1.1220 mark that lies around the 10-day moving average which currently serves as the resistance in the near-term. Further resistance sits at 1.1285 region close to the weekly highs. An ascending sloping trendline is found at 1.1140 area. Meanwhile, the momentum turned towards the negative territory and the moving average convergence divergence (MACD) produced a crossover signal to sell prompted by the intersection of the spread under the 9-day moving average. The histogram shifted from positive en route the negative grounds and confirmed a sell signal.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: June 13, 2017 The British currency has an insignificant performance during Monday opening as the Europeans came back from behind. There is a gapped in the level 1.2750 and broke down towards the 1.2650 region. The market persists to show a massive bullish pressure considering that uncertainties wrought from the election will probably influence the sterling in general.
With this, the rallies could possibly provide some selling opportunities, however, a break on top of 1.28 region signals a bullish stance. And the market will move near above the 1.29 handle. Volatility is highly expected because of the trends influenced by headlines.
The sell rallies will continue on short-term charts which give indicators of exhaustion.
In case the bearish pressure remains, the market will come under 1.25 handle and keep on struggling because of indecisions on the United Kingdom along with the interest rate hikes to be implemented by the United States later this year
There are few reasons that GBPUSD will keep to struggle and decline. A slice over 1.28 handle will favor for a buying position.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: June 14, 2017 The GBP/USD pair was finally able to make some significant headway amidst a highly volatile trading session yesterday after suffering from the adverse effects brought about by the results of the UK snap elections. As the Conservative bloc failed to get the number of majority they initially aimed for, this created uncertainties and risks within the market and has put the cable pair under severe downward pressure.
But yesterday’s session served as a breather for the GBP/USD pair as uncertainties within the country’s government formation are now starting to get sorted out, thus enabling the cable pair to push past towards 1.2700 points. The talks between the DUP and the Conservatives has so far produced positive results, and it seems now that this alliance will be maintained at least until the Conservatives need to work on several issues, including government formations. One such issue is the looming Brexit talks, with Theresa May staying defiant and believing that she will be able to push through with the Brexit talks in spite of political turmoil and calls for her resignation from her current post as UK Prime Minister. However, May still has to prepare herself as she will possible be faced by several hostile EU leaders who will want to take advantage of May’s position as well as the UK’s current international standing. In addition, Scotland is again on the brink of instigating another independence referendum, and all of these risks are expected to weigh down on the sterling pound both in the medium term and long term.
For today’s session, the market will be focusing on the Fed’s next move with regards to its planned interest rate hike. If the Fed pushes through with its rate hike, then the market will be looking at the FOMC statement next in order to look for clues with regards to the schedule of the next rate hike. If the statement comes out as bullish, then the dollar could further increase in value and the sterling pound might again drop and could possibly revert to its range lows.
Andrea ForexMart
Official Representative
USD/JPY Technical Analysis: June 16, 2017 The U.S. dollar against the Japanese yen moved unsteadily during Thursday session followed by a rally as the market sees a “risk on” environment. For now, it looks like the market will remain unpredictable and the market reaction in the overall risk appetite will be the main driver of the trend.
Traders should take into consideration the other Yen pairings which will most likely move in the similar direction. Currently. The market aims for 111 level which has been formerly resistive. It seems that the market broke the psychological level and their next target would be around 112 and 112.50 levels or higher.
Pullbacks may open opportunity for buyers as the 110 level is reached which has been a significant psychological level in the past. It seems that the pullbacks would be extended longer which gives more value for the pair. This is beneficial to gain momentum in the pair while everyone is waiting for a better value.
There has been a sell-off for the pair as the market reacted to the Federal Reserve’s decision. It came out different than expected as the Fed lean to the hawkish side which consequently strengthens the U.S. dollar which moves almost always contrary to the Japanese yen as one of the highly sensitive pairs in the market.
Andrea ForexMart attached the following image(s):
(21kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
NZD/USD Technical Analysis: June 23, 2017 The Kiwi dollar break up to the upside amid Thursday trading hours and cut through over the region 0.7250, touching higher up to 0.7270 area, however, retreated to 0.7250 mark by which buyers have seen to make its entry towards the marketplace.
As the 24-hour exponential moving average still offer support causing the New Zealand to attract the attention of the buyers but pull back is required in order to meet those buyers.
The target is the level above 0.73 and when the commodity sector could at least make some recovery, it could further support the NZD.
Having said that, a consolidation will form between the 0.72 and 0.73 levels. Basically, we are on top of the “fair value” which indicates that buyers are nearly able to direct the market.
Ability to break on top of 0.73 will enable the market to crept higher and it may take some time to do so.
Moreover, the national currency of New Zealand Dollar appeared to be the strongest among other commodity currencies which have the possibility to keep going.
As a buyer, we recognize the breakdown under 0.72 area which is negative and has the potential to revise the overall projections.
The 0.75 level remains to be the target In the longer-term, even though it may take quite some time, the longer-term traders still believe that it will happen soon. With this, the market persists in buying the dips.
Edited by user
2017-06-23T09:26:15Z
|
Reason: Not specified
Andrea ForexMart attached the following image(s):
(24kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: June 27, 2017 The USD/CAD pair remains confined within its previous trading range of 1.3200 and 1.3300 points as there were no major events yesterday that could have swayed the current stance of the loonie. As the US dollar has been gaining more and more momentum due to the release of a positive durable goods data, this has been subsequently countered by an oil price surge on the side of the Canadian dollar, and this is why the USD/CAD pair has been in a deadlock as these events have cancelled out the effects of one another.
Oil prices are still consolidating within its price lows but tension within oil-producing countries has lent some additional support for oil prices, enabling them to surge at over $43 per barrel. Since the loonie is highly dependent on oil prices, the USD/CAD pair is then expected to increase subsequently in line with the increase in oil prices. The Fed chose to brush off the weak data coming from the US economy and still went ahead with its planned rate hike, but the market is not yet sure of the timing of the next rate hike since the dollar strength has not yet established itself as far as traders are concerned. This is why the market is now closely monitoring the incoming readings from the US in the short term in order to determine if the Fed is correct with its assumption that the US will be set to release a slew of positive data. If indeed these data comes out as positive, then the dollar strength should further increase as well.
For today’s trading session, Janet Yellen is set to make a statement within the day but the USD/CAD pair is expected to remain consolidating within its previous trading range.
Andrea ForexMart attached the following image(s):
(26kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
USD/CAD Fundamental Analysis: June 28, 2017 The USD/CAD broke through the support level 1.32 amid trades in the past 24 hours following the strength from the Loonies and sluggish dollar witnessed by the entire market.
Making it possible for the pair to trail near the 1.31 area, en route to 1.30 in the near-term. The next bounce could probably be seen at 1.30 level.
The greenbacks lost steam due to delay from the healthcare reform bill with increasing concerns that the bill should be revised. Another thing to consider is the possibility that the reform will start hitting roadblocks that could make policy decisions a much tougher task. Apparently, this is negative for the American currency and the upcoming data from the US seems to be bad after several weeks. The USD suffers in spite of the efforts of the Fed for not paying attention to the negative data, as well as to bolster the greens.
Moreover, Canadian data indicated an uptrend in the economy of Canada which is reflected from the CAD’s value which is further recognized by the Bank of Canada. According to BOC, the time for rate reduction is over since it signaled a hawkish stance which shows that they remain on hold in the near-term and plans to employ rate hike during the medium and long-term. Having said that, the Loonies bolstered along with the steady increase in oil prices that started earlier this week. The Canadian dollar had progress with increasing success causing the USDCAD to move lower.
Ultimately, we expect no major news from US or Canada, however, the US inventory statistics for oil is anticipated that could affect oil cost and could further weigh on prices of the commodity-linked pair.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: June 30, 2017 The British currency rallied amid Thursday trading session as it reached the 1.30 region. Upon breaking the mentioned area allows the market to lead over the top of 1.3450 in the longer-term.
In doing so, a series of pullback has to be done in the short-term and then, the market is expected to deal with a “buy on the dips” situation. It further requires a bit of cautiousness when purchasing with that high level, however, it does not necessary to sell but should imply more patience.
The Friday would likely to be a quiet session since the presence of volatility in the market is high in the past few trades. Currency markets should take a break at least once in awhile and we believe that this is the perfect timing to do so.
Furthermore, the Canadian and the US independence days are scheduled for the next days which is suspected of draining the liquidity on North America.
With this, there is a possibility that movements are very limited in the next 24 hours which could last until Wednesday next week. However, an upward bias is certainly expected since most market reflects this path.
The most suitable way to engage with this market is to search for the value from pullbacks or waiting for a breakout confirmation.
Headline risks are projected due to divorce proceedings which involve the countries, EU and U.S, nonetheless, the market seems favors the side of the sterling pound.
Andrea ForexMart attached the following image(s):
(22kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: July 5, 2017 The sterling pound trade sideways during the course on Tuesday while the choppiness remained in the market shown with a slightly negative tone. The 1.29 region should gain enough support since the market is predicted to receive large trading volumes after the US Independence Day holiday.
The Federal Open Market Committee (FOMC) Meeting Minutes will come out amid the session which could likely put pressure towards the market, it will also gauge how hawkish is the Fed Reserve.
The market choppiness is expected to continue due to concerns regarding the United Kingdom and the European Union. The British currency is possible to move rapidly without hints as far as the news releases continue to be issued out.
When the bullish pressure was able to maintain its position, it could be a significant factor in the market. Aside from 1.29 mark, more support can be found in the 1.28 range below which provides massive support, the mentioned range could probably the “bottom” of the most current impulsive trend.
An ability to break down under that point will cancel all bets, however, staying on top of this level requires to look for impulsive moves or supportive candle to the upside in order to make money work.
A break over the level 1.3050 freezes this market to move towards the 1.3450 region eventually. Shorting seems unattractive till we reach down the 1.28 handle, however, when we get there the market could possibly decline through 1.26 region. This also influences the Federal Reserve about its hawkish stance which could affect everything that moves ahead to the currency markets.
Andrea ForexMart
Official Representative
USD/CAD Technical Analysis: July 06, 2017 The trend line close to the 1.3030 level was achieved overnight which is already expected. Currently, the resistance region is being tested by traders from below. The uptrend is anticipated to continue in the upper region. The 1.1829 level is the limit amid the impulsive trend that cannot be breached.
The WS1 was positioned at 1.2788 followed by WS2 at 1.2698 with the weekly pivot at 1.2952 and the intraday support at 1.3015. On the other hand, its WR1 is found at 1.3045 with the Top wave or the intraday resistance at 1.3118 level.
For today, it is conducive in trading to keep all the buy orders open and set the stop-loss (S/L) below the 1.2829 mark since the trend is anticipated to bounce and proceed to go further upward.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: July 7, 2017 The British currency went to a volatile session on Thursday and traded sideways, however, returned to the 1.2980 region and test the region 1.2930 another time.
The market also contained significant amount of support under the 1.29 mark and attempts to touch the 1.30 area eventually. This is an area that could offer massive resistance and extends towards 1.3050, but a cut through over that level enable the market to climb higher near the longer-term target at 1.3450
Remember that the Nonfarm Payroll is released every first friday of the month which is today, therefore, the US dollar is expected to have plenty movement in general. An ability to break down from this point, we shall see the 1.28 region to provide support. The area below there will affect the sterling pound.
The pullbacks could possibly have some value opportunities showing a strong uptrend. A break down beneath the 1.28 range will initiate buying the dips on the candles that looks supportive. This could be difficult enough to stay in a trend for a relative amount of time not until a cut over the massive resistance found at the 1.3050 region.
When this happens, winning positions could be improved to the upside. Otherwise, a breakdown under the 1.28 will urge to the market to look for 1.26.
Andrea ForexMart attached the following image(s):
(25kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: July 10, 2017 The EURUSD traded sideways during Friday’s trading and experienced a session with high volatility since US job figures took a longer time than the anticipated. Nevertheless, as the session ends it appeared that the pair begins to demonstrate stronger stance once again while the weekly candle generates a hammer formation.
The market would likely make an attempt to reach the 1.15 region where a significant resistance was seen in the past 3 years. Ability to break above it and a daily or weekly close would indicate a bullish sign showing that the market is apt to resume to go near the 1.18 handle.
Having said that, the market is currently in the “buy on the dips” condition in the near-term.
In case that the 1.15 handle was able to be broken down, it will suggest a major signal that the downward trend has ended. On one side, buyers will consider the single European currency in the longer-term or maybe tries to push it up towards the higher levels.
This is a situation where the Fed is thinking about the increase in interest rates, however, the European Central Bank recently mentioned the tightening of monetary policy which is quite surprising. With this, the pair requires some rebalancing which we have been witnessed.
Otherwise, a break down under the 1.1350 area will test the 1.13 level and a breakdown below that point will consider the 1.11 mark eventually.
The overall market seems equal and buyers are currently in the driver’s seat.
Andrea ForexMart attached the following image(s):
(23kb) downloaded 0 time(s).
You cannot view/download attachments. Try to login or register.
Andrea ForexMart
Official Representative
Forum Jump
LandOfCash Forex Forum
Announcements
- Announcements
Forex Talks
- General Forex Discussion
- Expert Advisors & Automated Trading
- Indicators & Signals
- Brokers, Trading Platforms, Forex Tools
LandOfCash Discussion & Support
- Support and Pre-Purchase Questions
- Suggestions, Feature Requests and Comments
Other
- Commercial Promotions and Advertisements
- Chat about anything
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
Important Information:
The LandOfCash Forex Forum uses cookies. By continuing to browse this site, you are agreeing to our use of cookies.
More Details
