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GBP/USD Fundamental Analysis: November 20, 2017 The British pound persisted to move at a fixed rate but it is the opposite to the euro currency because of the news from German coalition talks. The pound has taken advantage of the low dollar as it rose to 1.32 level. However, it is still to be observed if this move higher.
The latest news from Germany will most likely affect the British pound as well as other countries of the Eurozone with the ongoing Brexit talk. Thinking about it, the current situation facing Merkel in Germany may be similar with U.K. Prime minister Theresa May as she also fights her own battle. However, it should be considered that any changes to cause uncertainty would most likely affect the Brexit as well. This will not be favorable to Germany or U.K. Nevertheless, both countries would want a good transition and come to a conclusion that would be beneficial for both ends.
Any uncertainty in Germany would slow down the talks and look forward to an agreement which could complicate more things further and be disadvantageous for the pound in long-term. Aggressive leaders are best suited in the current situation as they are looking for a conclusion. However, some domestic concerns are hampering the process which gets their attention. For short term, the British pound could have some gains because of uncertainty from Germany. However, this could have a negative impact on the U.K. for the long term if this situation is prolonged.
For today, the British pound seems to be put under pressure as it depreciates against euro during the London session. There is no major news from the U.S. or from the U.K. in other times of the day. Consequently, the consolidation with a bearish tone is anticipated to take place today.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: November 20, 2017 The EUR/USD were pressured by reports about failed coalition talks in Germany. The pair was having a smooth direction since last week as the market may be unaware of the unfavorable incidents, which shocked the markets upon the emergence of the news earlier on Monday. Moreover, this pushed the single European currency lower after its strengthened during the trading course last week.
The news that was released in the morning reports about the negotiations of Merkel’s parties in forming a coalition, as the FPD agreed to withdraw from the talks considering the unfeasible formation of the 4-way coalition at this particular moment. Hence, this caused trouble towards the entire government since Merkel would likely put all his effort to close a deal with other parties.
Germany is regarded to be the bedrock of the whole European region due to its well-established economy and government with the leadership of Merkel. Since her position is currently in jeopardy coupled with the ongoing Brexit, the scenario seems to have chaotic results that should be avoided. As the election results were issued, it disappointed Merkel as she failed to gain the victory among the majority which further exacerbates the situation.
As expected, this caused the euro to sell off and the EURUSD currently moved down towards the 1.1730 level as of this writing. Further selling is anticipated upon the development of the story and during the London trading session. ECB President Mario Draghi will have several speeches scheduled for this day, however, it appears that Draghi is in doubt to discuss monetary policy and was surprised by the current events in Germany
The lows of the range in the 1.16 mark is projected to be under pressure throughout the trading course.
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EUR/USD Technical Analysis: November 21, 2017 The single European currency paired with the US Dollar descended and resumed to create a mini-bull flag formation, however, the fundamental and political events coincided against the EURUSD yesterday. The German PPI came in weaker than expected while the failed plan of Merkel to generate a coalition placed pressure to the EUR/USD.
The currency pair currently trades sideways and stayed around the 1.1800 region, after being pushed downwards amid earlier trading hours to test the 1.1704 support area close to the 10-day moving average. The short-term resistance entered the mark 1.1771 around the 50- day moving average. The positive momentum declined as the MACD (moving average convergence divergence) histogram prints in the black. The trajectory of the indicator appears to be negative which implies consolidation towards the pair. The RSI also traded sideways showing a reading of 52 fixed in the middle of the neutral range. It further suggests consolidation.
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EUR/USD Fundamental Analysis: November 21, 2017 The EUR/USD pair has a choppy which lead the whole trading session in the past 24 hours.Although, this was influenced by the events in Germany which have put pressure on the market. The euro was affected by the news of the coalition talks in Germany which resulted in a breakdown and declined to a much lower rate during the Asian session. It seems that the euro will be weakened but this was reversed during the trading session as it gained strength.
The euro climbed higher reaching the level of 1.18 as the market ignored the happenings which moved the whole trend higher. It was clearly shown that there is some pressure in the pressure which would be more obvious later on. It initiated during the U.S. session but the euro declined once again lower than the 1.1750 by the end of the day and will most likely continue.
Merkel has been facing an obstacle that has weakened both locally and internationally amid the Brexit negotiations. She would want to be in alliance with other parties although, she knows that this would not be easy. Another option is for her to go for another election but this would bring more uncertainty. It cannot be determined if she will come out stronger or would weaker position in the election. This shaken the German market which also affected the euro.
For today, there is no major news anticipated from the Eurozone or from the U.S. The euro is anticipated to trade in a weak manner in the course of the day and reached lower than the level of 1.17 until there are still pressure present in the market.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: November 22, 2017 The EUR/USD pair was traded in a narrow range during the shortened week because of the holiday that affects both America and Japan on Thursday. The dollar gained momentum at the beginning following a positive home sales report that boosted the U.S. greater than 2 percent.
The U.S. Chicago Fed National Activity index rose in October as well as the Retail store sales in the past week which is due to the busy holiday season.
The euro major pair rebounded at the support level close to the 10-day Moving Average at 1.1718 which stays afloat higher than the neckline of the head and shoulder pattern. Although, it was not able to initiate liquidation for long-term. There is a resistance found close to the
November highs at 1.1860. The forward momentum is declining as the MACD histogram print is in black with a southward trajectory which could lead to the consolidation of the pair.
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GBP/USD Fundamental Analysis: November 23, 2017 The GBP/USD pair gained more strength from the American dollar than the British pound after the publication of FOMC minutes. The announcement of budget and UK economic outlook had a slight impact towards the pound, hence, the weakness that was left in the dollar provided support to the Cable pair in order to edged higher.
This day is predicted to be highly volatile for the GBP due to the UK budget announcement and FOMC minutes in the United States later. If this happens, the GBPUSD would decline to the 1.3220 mark during the London hours after the issued news relative with the Britain’s budget, however, when the details were already published the flow is expected to reverse.
The announced budget seems to have huge borrowing amount that softened the sterling initially but reduced the trend productivity. This helped the pair to make a reversal and drive upwards near the 1.3250 level. Moreover, the GBP remained unchanged until the issuance of the Fed minutes which said that majority of the members agreed with the rate hike in December, but the following increase is not yet sure.
Mainly, concerns regarding inflation continues and the central bank stated that they wanted to wait for further upcoming data prior making a final decision for a further rate increase. The focus of the market is centered on the dovish statement that will weaken the greenbacks as well as to support the Cable to move near the 1.33 level. The pair is currently trading above 1.33 and would be better to push towards the mark 1.34 in the short-term.
Ultimately, the second estimate for the UK GDP is expected to release and marks the onset of the long weekend due to US Thanksgiving celebration. This indicates that liquidity may dry up while volatility could possibly lower down. In that event, it is not surprising for a boring consolidation for the rest of the day.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: November 24, 2017 The British pound moved at a steady pace for the day as the pound bulls could not really make use of the long weekend in the U.S. which induced low volatility in the past 24 hours. This resulted in a subdued trading of the currency since the GDP data has been released which does not have much of an effect on traders as well as the volatility.
The publication of the GDP data marked the day which is already anticipated. Yet, this did not have any significant effect on the pound quotations. This would be beneficial for the pound bulls since the economy is about to balance out. Moreover, another budget data which was released the other day giving a positive result that sustained the rate of the pound for short-term amid the Brexit negotiations.
The domestic concerns of the country which were face UK PM May and the German leader Merkel but this has a minimal effect on the Brexit talks. It is already presumed that a breakout would occur after the December meeting which is yet to be observed where there will be an agreement between countries. Ultimately, this will be beneficial for the U.K. economy as well as the pound yet this are just prospects.
For today, there is less economic calendar along with the U.S. Thanksgiving for the weekend. The pound is anticipated to range within narrow levels and consolidate through the course of the day. This day will most likely result in a lackluster trading as the weekend is drawing closer.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: November 27, 2017 Most of the economies appeared to have an optimistic situation, however, political concerns that affect Europe especially the argument on German politics that heightened concerns over the nearing elections in Hungary, Italy, and Spain. Nevertheless, the Brexit negotiations are completely on track and conducted a significant move forward. According to reports, the United Kingdom offered further deal to clear the way for the European Council to comply with the initial transition and trade talks on December 14-15 summit.
The long transitional period and initial clarification towards the future relationship between Britain and the European Union seems to be essential for business plans and investments to increase. The EUR/USD pair broke out as Brexit talks could possibly advance and pushes the rate higher and plans to test resistance at 1.2092 level around September highs. The support is at 1.2092 region near the 10-day moving average. The positive momentum moved upwards as the relative strength index (RSI) broke out and climbed higher. It prints a reading of 69 which is located on the upper end of the neutral range heading to a higher exchange rate for the eurodollar. The momentum showed by the MACD histogram trailed upwards as the indicator prints in the black with an ascending trajectory which indicates to higher rates of prices.
Andrea ForexMart
Official Representative
USD/JPY Technical Analysis: November 28, 2017 The American dollar weakened versus the Japanese yen throughout the trading session yesterday, while the downward pressure continues. The path towards the 111.50 zone was already cleared and there is a possibility that the market will remain moving down near the bottom area of the overall consolidation felt in the past few months, in case of an extension towards 108 handle. This could possibly true since the US Congress cannot even establish substantial tax bills.
Moreover, it is preferred to impose a buy signal until a break on top of the 112 level on a daily close unless a supportive trend formed around the 108 handle, which is regarded previously as significant and supportive. The market would likely to make a reversal and the US Congress would be able to completely perform its task.
Meanwhile, the current situation can be defined as some sort of “sell the rallies”, as the greenback softened across the board. The JPY remains to be considered as safety currency and a cautious move can be witnessed given enough time. As shown in the hourly chart, a shooting star begins to form at the 111.25 mark which is a previous support and expected to be resistive at this moment. A cut through at the 110 level could possibly the next move and descended beneath the 110 region that nearly open the way through the 108 handle. Generally, a lot of volatility is predicted to continue, however, the general downward pressure remains to be a situation in the market that shows extreme choppiness.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: November 29, 2017 The Euro paired against the U.S. dollar declined once again since the upsurge during the Friday trading session. The German IFO came out better-than-expected was counterbalanced by a steadfast consumer confidence which pushed the OECD with the tendency that overestimated the potential growth of Europe.
The EUR/USD pair declined as it tested the support level close to the 10-day moving average at 1.1818. The resistance level reached close to the September highs of 1.2092. The momentum persists in a good condition as shown in the MACD histogram where the print is black with an upward sloping trajectory that will most likely lead to higher exchange quotes. The head and shoulder reversal pattern was not successful as the peak reached at a neckline close to 1.1660. The latest upsurge has contradicted the reversal.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: December 1, 2017 The EUR/USD pair rose because of strong yields as it gained strength after inflation from France and a positive Chinese PMI manufacturing data. The Eurozone inflation came our dovish which resulted in a higher euro major currency pair.
The EUR/USD pair rally as it bounced to the support area close to the 10-day moving average at 1.1836. The resistance was found near the weekly highs at 1.1961. There is a neutral momentum seen in the trend as the MACD was printed in black with a flat trajectory that could lead to a consolidation. The RSI index climbed higher because of the positive impetus in the market.
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EUR/USD Fundamental Analysis: December 1, 2017 The EUR/USD pair resumed trading in a robust manner in the past 24 hours while the strength of the US dollar alternately moves higher and lower amid the trading session yesterday. Moreover, this helped the eurodollar pair to go nearer the 1.19 level and continues to trade during the first part of the day on Friday.
The headlines on Thursday was mainly about the American dollar along with its tax reform bill which continues to undergo the Senate. While President Donald Trump and his team remain confident that the bill will be approved, the delayed process has placed pressure on the USD. It is expected that the proposed law will be enacted in the middle day of the week and because of different issues, the approval was delayed. Since we are currently on the last day of the week, the bill is not yet approved, however, it is expected to be passed today.
The ratification of the tax reform could possibly provide a limited and short-term increase to the greens but the underlying strength of the single European currency is clearly apparent for everyone to notice. As the tax reform bill is also priced into the markets, there is no any significant run from the USD regarding the bill enactment. It is still unclear if the euro will keep on gaining strength and reach the 1.20 level which could possibly the next target of the bulls
Ultimately, there are no major economic releases from the United States or the European region for this day, since the tax reform is projected to rule over the present day. The other main focus is the decision of the euro bulls whether to continue pushing the euro higher.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: December 4, 2017 The euro paired against the U.S. dollar declined since the dollar is starting to strengthen in the past day. The dollar was the highlight in the past week. This will be applicable for the data which will be released from the U.S. due to political issues.
Tax reform will be pushed through by the Senate which would be beneficial for the greenback. The dollar will continue to climb higher as long as the process goes on accordingly. This is what has been happening since Friday. On the other hand, the issue concerning Flynn adds more pressure to the dollar which will put it in a negative stand.
These changes will most likely be the highlight in the news when it comes to the dollar and focuses the week. The dollar will move steadily during the short-term as the end of the week approaches. The rate hike is also anticipated to push through from the Fed for this month. Even though the dollar will rally for a brief period of time, these factors placed the dollars at a good bidding.
There will be no major news from the eurozone or the U.S. for today. However, the dollar will remain strong for the day because of the reasons mentioned above. This keeps the euro under pressure that could result in consolidation and ranges around the level of 1.19 during the day.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: December 6, 2017 The pound dollar pair resumed declining as the greenbacks remain unchanged. The market is generally preferred a wait-and-see mode since this last month of the year. However, the case of the British pound would likely show higher volatility due to the emergence of political turmoil within and over the United Kingdom. This further caused the GBP to weaken which was seen in the past couple of days.
During the previous entire week, the sterling is crowned to be the strongest currency among its rivals because of the agreement prospect concluded in the Brexit negotiations that helped the bid to keep under the British currency. Moreover, the pound climbs higher to the 1.35 mark and seems that the Cable pair plans to ascend to the 1.38 level upon the release of the contract details within this week or the next. There are expectations that everyone will end the year with satisfaction after the details were announced.
Nevertheless, the opposition of the DUP party towards the Irish borders interrupted the deal that erased hopes for the current week. This deterred the plans of UK Prime Minister Theresa May that delayed her domestic and international plans. It may also imply a tough decision to conduct any deal in the short-term for this apparently put pressure on the pound, while the pair slumped again to the 1.34 mark amid the current trading course.
Ultimately, there are no major economic releases from Britain as the spotlight is turned to the USD and the ADP employment report scheduled later today. On the other hand, UK services PMI data showed some weakness yesterday that further contributed pressure on the GBP. In case that the ADP figures came in positive, then the pair is expected to soften in the near-term.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: December 6, 2017 The European currency edged downwards while the yields declined and the American dollar was able to conduct further progress. This happened after the release of a weaker than anticipated result of the European Retail Sales data. Moreover, the Services PMI in the euro region had increased as the US trade deficit expanded that could lessen the overall growth in the U.S. economy.
The eurodollar pair descended during the trading session on Tuesday and fell near the support at 1.1866 level around the 10-day moving average. The current support highlighted the 1.1757 mark beside the 50-day moving average. Further support lies at 1.1630 near the ascending trend line. Additionally, the momentum became negative and at the same time, the MACD histogram formed a crossover sell signal. The moving average convergence divergence index prints in the red, showing a descending sloping trajectory that moves to a lower exchange rate.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: December 13, 2017 The EURUSD edged downwards as the German investor confidence came in weaker than predicted results, along with the robust figures of American inflation data that reinforced the US dollar and put pressure on the single European currency. Small business confidence in the United States also showed secured position combined with strong U.S. chain store sales.
Originally, the euro-dollar pair trailed lower on Tuesday and drove upwards to test the resistance at 1.1819 area near the 10-day moving average. The support of the pair touched the 1.1675 region around the ascending trend line. While prices generate a topping formation and market participant anticipates for the Fed decision as the central bank is highly expected to increase interest rates in the US by 25 basis points. The momentum became negative and the MACD indicator created a crossover sell signal. The moving average convergence divergence further prints in the red with a descending trajectory which implies for a lower exchange of rate.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: December 18, 2017 The British pound trades in a strong manner since the day started even despite the lack of fundamental developments. Also, there are not much economic releases on Friday which allow the consolidation and ranging for the price action within that day. At the same time, there are reports about increasing support for the US tax reform bill during the American trading session, it further indicates that the bill is expected to be passed amid the course of the current week. Hence, this enables the US dollar to grow and pushed the GBP/USD pair downwards during Friday’s late session. When the bill is approved, the strength of the greenbacks is expected to resume in the near term, until the year ends. In turn, the Cable pair will continue to be under pressure throughout this period, however, the level of impact remains unclear.
On weekend, British Prime Minister Theresa May reiterated her determination to push through the Brexit process and she further stated her willingness to deal with it in the short term concerning the payment that the United Kingdom need to settle along with the possible trade access. These two factors are the most important elements to consider but the UK and the market seem worried about these. The process appears to be a little bit of delay but the encouraging speech delivered by PM May successfully give a slight raise to the sterling earlier this morning.
Ultimately, there is no major news from the US or the UK for the rest of the day while some consolidation and ranging are expected much for today. Moreover, volatility might get a slight boost upon the onset of the US session and further updates with regards the tax bill.
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GBP/USD Fundamental Analysis: December 20, 2017 The GBP/USD currency pair was able to move ahead of the American dollar, as the USD lower in price amid smooth approval process of the tax bill. The passage was projected to support the dollar to increase, however, the effect was completely different. The market’s reaction remains uncertain not until the bill is already passed through in one of the US Houses and waiting for the Senate approval. However, there could be some delay due to procedural problems which could possibly place some pressure on the greenbacks that could further lead to uncertainty. As expected, the tax reform bill will be enacted by the Senate on a very tight margin and further requires the President’s signature to seal in the law. The whole scenario would likely be completed within this week, hence, the volatility in the USD should keep going until it happens.
The Brexit process does not have much improvement over this week and it is predicted to continue until New Year. Definitely, there will be some strong development in the process since the leaders on both sides clearly stated about the completion of a deal which may take a matter of time prior accomplishing the agreement. This notion seems to provide support for the pound in the past couple of weeks.
Ultimately, BOE Governor Mark Carney will have his speech but the impact to the market is predicted to be minimal. The market trend for today would likely be led by the USD and tax bill legislation. It is believed that the greens should gain more strength in the short and medium term in order to maintain the GBPUSD active.
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EUR/USD Fundamental Analysis: December 21, 2017 The euro paired against the U.S. dollar still dominates the market as it positions strongly, although the volatile is starts to lessen come to the end of the week. The volatility would be much more minimize by the end of the week with the year about to end.
The U.S. tax reform bill was successfully passed that require Trump to seal it after which is anticipated soon. This is considered as an achievement for Trump as everyone in the team worked hard for this. It would also be beneficial for the large companies and gain more profit which would bring in more jobs in the U.S.
Trump has stabilized his position at the top which would now shift his attention to other bills such as the healthcare reform bill. However, the stock market and foreign exchange of the U.S. dollar did not have that much vigor, as the dollar is starting to decline recently compared to its position last week. It has been all over the market which supported the euro instead.
The EUR/USD pair was seen to touch on the 1.19 level but moved after into a consolidated yesterday. Trades are being traded just currently below the said level. When it comes to news, the final GDP data from the U.S. is anticipated today but there will be no other economic news to be published from the Eurozone. Hence, the trading range is presumed to tighten especially since the holidays are approaching.
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AUD/USD Technical Analysis: December 22, 2017 The Aussie dollar traded sideways initially amid Thursday’s trading session, however, it moved higher following a weaker numbers of American GDP. This further caused the greenbacks to decline while providing a slight increase towards the Australian dollar during the day.
Nevertheless, the AUD/USD pair trades in a low-volume at the margin during the day and traders are concerned to the approaching holidays in contrast to the currency markets.
It can be assumed that a break down under the 0.7625 area will push the market downwards reaching the 0.75 handle. It appears that the AUD will have some difficulty in moving higher to the upside, as a result, sellers manage to conduct a return. Perhaps, the market is easier to short at higher levels, but for now, it is suggested to stay on the sidelines until the volumes return.
There are some resistance barriers throughout the way which could make a difficult course to drive upwards. Hence, buying the commodity-linked pair seems to be under pressure. On the other hand, there’s no any shorting opportunity due to rally attempts by the market. The ability to roll over will push the market quickly, but it is impossible to see until after the New Year’s Day. Therefore, the market is expected to be difficult to deal with.
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EUR/USD Fundamental Analysis: December 26, 2017 The euro against the U.S. dollar started with a tight trading week in a facile environment in consideration of the current market situation. Majority of traders are on a vacation this Christmas holiday season and the New Year whereas most of them would not working. This would result to lower volatility and liquidity that would limit the range of trading for this week.
There is also not much economic data on the calendar with fewer fundamentals in the next days to come. The steady dollar was supported by the tax reform bill, which was recently passed by the Senate and signed by the U.S. President. This would benefit m0st of the companies with lots of tax benefits which is as much as important to Trump and his team. At the same time, this is foreseen to improve the labor market and boost the economy in the succeeding years.
Hence, the dollar gained a short-term boost from the bill which will most likely be in effect for this week. The euro is being traded in a right range with minor consolidation in the past few months. Although, the fundamental new was not enough to successfully break the trading range.
It is yet to be discovered where the trend will range and if it is sufficient to sustain the pair within its range until January.
For today, there is not much economic news that is anticipated to be released from the eurozone or from the U.S. It is holidays in most part of Europe, which could result to tight trading range and consolidation throughout the day.
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GBP/USD Fundamental Analysis: December 27, 2017 It was a holiday in the majority of the places in Europe, including the U.K. that makes it not surprising if the pound persisted to consolidate and traded within a tight range for the most part of trading yesterday. The GBP/USD pair falls within a tight range since there is few major economic news.
It will not be surprising to have lesser volatility and liquidity this holiday season. At the same time, there is not much placing of trades and more on profit-taking in the past week, which can be seen mostly in the smaller market such as bitcoin. Although, it was not that obvious for pound despite there is a bigger market that is why grabbing the opportunity of any selling of this pair prior to holidays is relevant.
Come the second week of January, both liquidity and volatility will most likely gain momentum. Until then, traders should get ready for choppiness within a range near the end of the year. The market has reopened following a long weekend yet, there is still fewer traders this week since most still wanted to extend their vacation until New Year. Hence, consolidation of the pair within a tight range will persist in the next few days.
When it comes to data the Conference board’s Consumer confidence data from the U.S. is anticipated to be released today but this would not bring much volatility in the market. There is no major economic news from the U.K. Thus, there will be low trading and slow movement in the market for the rest of the day.
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GBP/USD Fundamental Analysis: December 28, 2017 The British pound against the U.S. dollar climbs higher in the past 24 hours due to the weakness of the dollar that boosts other currencies against the dollar. This is presumed to persist for short-term with the incoming long weekend as the New Year approaches which would cause a dull trading in the market. Continue reading at
https://goo.gl/jwfU5K USD/JPY Technical Analysis: December 28, 2017 It is suggested that the American should resume its rally versus the Japanese yen within a specified time and also in case of the bullish sentiment by stock markets. This usually pushes the markets towards a higher position. The USD/JPY and the S&P 500 had a special correlation which should be kept in mind. Continue reading at
https://goo.gl/GGc2V6
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EUR/USD Technical Analysis: January 3, 2018 The Euro against the U.S. dollar climbed higher testing the resistance levels because of the exceedingly strong results of the manufacturing PMI following hints of the ECB meeting to end the quantitative easing in 2018. The European Central Bank has adjusted to the situation but with a steady inflation and progressive growth propelled the euro at a much higher rate.
The EUR/USD pair reached close to the September high at 1.2092 but was unsuccessful in breaking this rate. A strong euro has put pressure on the European stocks putting corporations into the lesser advantage against their competitors. The support level is found close to the 10-day Moving Average at 1.1920. The MACD histogram has been positive as it is printed in black with an upward sloping trajectory which could lead to a much higher Forex rate. The RSI indicator also gives an increasing positive momentum although the current rate is at 71. This is much higher than the overbought level of 70, which hints the possibility for a correction.
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NZD/USD Technical Analysis: January 8, 2018 The New Zealand dollar was able to break higher upon the opening session on Monday, however, took a reversal throughout the week to move lower and fill the gap. In line with this, a sufficient support was seen and bounced to the upside. The day closed with a slight formation of a hammer pattern, which implies that buyers will return to the market.
It is possible that the Kiwi dollar will resume driving near the top of the overall consolidation zone, marked on the chart around 0.75 area. The 0.68 region below is considered highly supportive and basically the “floor” in the NZD/USD pair.
It remains to be seen prior shorting this market despite the noticeable breakdown underneath the bottom of the hammer for the week appears to be negative. But 0.70 level seems to be supportive which requires some time before taking long positions.
In case that commodity markets would rally in general, the upward trend would likely to continue. However, the current situation is slightly overbought which could possibly be followed by a pullback that should only offer value going forward. This is because the American currency was very weak versus other currencies. The market remains to have plenty of noise but a significant amount of bullish pressure is expected in order to continue moving forward. The highs will be tested again and will eventually break out.
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GBP/USD Fundamental Analysis: January 9, 2018 The GBP/USD pair trades around a tight range yesterday considering the fact that consolidation period is already expected in the markets. The US dollar remained unchanged, as it traded initially for the week, the course showed mainly about trade positioning and the price action was monitored by the market participants which limits market’s actions.
The British economy is predicted to recover if the Brexit process will flow according to the plan. The economic data issued from the United Kingdom last week was choppy and should be regarded as an indication for negotiators about the importance of Brexit talks to go as planned r else it might bring adverse effect for the UK economy. This was avoided almost be everyone since uncertain UK economy is far from the goal of international leaders. With this, the leaders of Euro and the UK will be responsible for this and should outline some good trade agreement for both sides.
On the other hand, the United States are waiting for the incoming data because the figures sent last week was choppy and obscure. The market expects for a three-time rate hike this 2018, however, the new Fed Chair Jerome Powell will take over in February and it remains uncertain about his plans and the way he works. Hence, this could lead to some risks for the dollar and the American economy as well. The Federal Reserve and the upcoming data should coincide in order to drive away this concept, resulting in stability for the dollar which is essential for the world economy.
Generally, there are no fundamentals or economic data from the UK or the US for today but the ranging between the levels of 1.35 and 1.36 should resume in order to engage more participants, particularly the day traders.
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NZD/USD Technical Analysis: January 10, 2018 During the trading course on Tuesday, the New Zealand dollar appears to be choppy and mainly negative. The marketplace is characterized as wrist sensitive because the NZ dollar is generally influenced by “risk appetite” and commodity markets. Aside from that, there exist a dollar bias that further leads the market.
The 0.7150 mark looks like offering some kind of support for the NZD/USD currency pair, which appeared to be really strong lately. But the markets are consolidating which means that pullbacks are expected to attempt establishing momentum in order to resume the move to the upside. The longer-term charts imply consolidation between the 0.68 region on the bottom and 0.75 level above, which caused the market to resume further consolidation but the situation is regarded to be larger and longer term.
There is a tendency for the market to continue buying on the dips due to inability to reach the top of the consolidation zone after the rebound from the bottom. The Kiwi dollar would likely be slightly oversold, therefore, it is acceptable for some recovery and normality. Upon the breakdown, a significant support at the 0.71 handle should be expected which is previously a significant resistances and accompanied by a large gap since the past few weeks. Most likely, the American currency will continue to lose it strength.
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GBP/USD Fundamental Analysis: January 16, 2018 There is a hint of bullishness in yesterday’s trading session of the pound since there is no fundamental news to affect the market aside from the bank of the holiday in the U.S. As a result, the pound bulls have become relax in trading. Most likely, this is one of the reasons why the pair has been steady in the past few days but failed to break the level of 1.38 amid the weakness of the dollar.
Other than that, it could possibly be because of a big news expected to come this week, particularly the inflation data and retail sales data. Traders and investors anticipate the data prior to positioning themselves to any direction. The incoming data from the U.K. came out stronger which brought choppiness to trading while others came in weak, which has brought further uncertainty to the Brexit negotiations and affect the U.K. economy.
Yet, the pound was able to take advantage of euro strengthening and the weakening of the dollar. Although, this may not last for a long time. More importantly, the pound is beginning to gain momentum to move higher regardless of its condition. Also, rate hikes from the U.K. are also becoming an issue after its one rate hike last year. The succeeding hikes are deemed to be more important and the central bank has to be certain on its support actions from last year to boost the U.K. economy and confidence of investors.
There is no major news from the U.S. for today but the U.S. is presumed to return to the market following their long weekend holiday. On the other end, the inflation from the U. K. is highly anticipated later this day as it will have a significant insight on the movement of the market and give a hint on which direction does the GBP/USD pair will go.
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USD/JPY Technical Analysis: January 17, 2018 There has been a choppy trading for the U.S. dollar during the Tuesday session, the day of returning to work for Americans. Looking at the hourly chart, a slight downward occurred. There are also some major levels and expect the presence of noise in the market.
The U.S. dollar swayed back and forth yesterday. The next trading level would be at 111 which is a bit resistive. If the market breaks higher, it will probably be at 112 which has been significant in the past. It seems that there will be downward pressure and push the market towards 110. Overall, there will be noise in the market that puts the global economic outlook at a better position and at the same time, there is general selling of the U.S. dollar.
Hence, there will be high volatility in the market, which will attract more traders. If the pair breaks lower than the significant level of 110, the market will probably move down towards 108 soon after. Moreover, there are a lot of areas to cover which will highlight every 100 pips. Amid the presence of noise, the market could bounce back which would become an important pullback.
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EUR/USD Fundamental Analysis: January 18, 2018 There is choppiness in trading the EUR/USD pair and continues its trading between 1.22 and 1.23 without no specific direction yet. Yesterday, the pair moved higher in the first half of the day, which will most likely favor the dollar. However, it shifted by the end of the day when the dollar has recovered and became stronger.
The euro has been gaining momentum in the past week although the euro rallied against the dollar in the previous month, which was influenced by the decline of the dollar while the euro became stronger. It was only in the past week that the euro started to strengthen independently due to the possibility of ECB tapering and completion of the quantitative easing by the end of the year. This largely influenced the euro as it rose higher and has most likely continued during the first half of yesterday. It reached the level of 1.23 and established a beeline on the trend.
Yet, this was reversed during the second half of the day as the ECB was thrown into a disarray following the quick rise of the euro and should be brought down through statements and confirmation of the QE to return to normal levels. It clearly shows that their position would lead to termination of the QE, which was further supported by the incoming data. Although the central would rather strengthen the euro slowly. Thus, this supported the euro and slid down while the dollar was able to grow during the U.S. trading session and further pushed the price lower than 1.22 as of the moment.
For today, there are is no major news from the U.S. or the eurozone, which will most likely continue the choppiness for the day. Support is found in the area of 1.2180 then move further towards 1.21.
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USD/JPY Technical Analysis: January 19, 2018 The U.S. dollar pulled back during the Thursday session and move towards the 111 level, which was offered both as support and resistance in the past that made it not surprised. There is a possibility for the price to rebound and reach the level of 112. Taking into consideration that the market is highly sensitive to risk appetite as a whole. The noise will probably persist in the market but there is nothing new for the Japanese yen in general.
As a rule, traders should buy when the S&P 500 and sell when it breaks down. Generally, the market proceeds to find support. Eventually, the market proceeds to find support close to the level of 110 with 61.8% Fibonacci retracement level. As a buyer, I realized that this market is good for short-term but not long-term ones. However, there is still choppiness in the market which should be taken seriously with respect. The attitude of the market changes every day and traders should be cautious in this regard with risk in the market. If it breaks down lower than the 110 level, this is likely to move lower towards 107.50 level. Although, this will most likely not happen soon since there is support below.
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AUD/USD Technical Analysis: January 24, 2018 The Australian currency slightly declined amid Monday’s trading session and moved lower at the 0.7950 region. The rebound on short-term charts are expected along with the resumption of the consolidation period under the major level. A break over the 0.80 zone will enable the market to move upwards or impose a “buy-and-hold” sentiment. However, creating a gap on top of the 0.81 region would indicate a “buy-and-hold” tone with some kind of aggressiveness.
Usually, the gold market is needed in order for the AUD/USD to strengthen its move as well as to break out to the upside direction. It is expected that this situation will continue. Moreover, the gold markets drifted sideways aimed to hit the market in the near-term, but there is some support below which will trigger buyers to push again to the upside sooner or later. If this happens, the 0.78 area could possibly be the main contention area and short-term selling opportunity will hold up in that level. While a break down below there would hit the overall trend but this has low chance to happen with 10% of probability.
Expect for some massive volatility but there is an attempt at forming an attractive base in order to drive higher. It should be noted that the market will advance higher in the future but it should go along with gold.
Andrea ForexMart
Official Representative
NZD/USD Technical Analysis: January 25, 2018 The Kiwi dollar broke out to upside amid the trading session yesterday, reaching the higher level of 0.74 which is close to the top of the general consolidation area in the longer term and extends to the 0.75 region. The 0.68 below is the lowest area of the largest consolidation zone which means higher price level. However, the American currency is obviously struggling and it remains to be seen for any upward movements. While pull backs could possibly offer value.
A break on top of the 0.75 handle would enable the market to edged higher or an attempt to reach the 0.7750 or 0.80 level. The volatility is projected to continue and the short-term pullback will arrive sooner or later. It is advised not to get attracted in selling due to factor against the US dollar sentiment. Market players should also take focus on commodity markets and the overall risk appetite for this helps gauge the next probable movement of the New Zealand currency. This is the expected event in the longer-term correlation and the Kiwi together with the commodities should ramp up, this will have higher chance to happen if the “soft commodities” rallied. In addition to it, shorting could completely change the sentiment of the Forex market.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: January 29, 2018 The British pound against the U.S. dollar has been declining in the past few days as the dollar strengthens, which seems to be the focus at the present time. Following the comments of Trump, the dollar is steadfast due to the positive economic data in the U.S. This resulted in a reversal of profit for the dollar.
The dollar has been behind since the middle of December and the pound has been one of the strong contenders for this period of time. It gained more than 800 pips against the greenback. There are indications of exhaustion and weakness for the pair. However, it is not just the weakened dollar that buoyed up the pair, the strong pound along with all the soft Brexit plans at the end of the talks.
This supported the pound to rise across markets, especially against the dollar which has been weak recently. However, besides the rhetorics from Trump, there is an increasing expectation for the new Fed chief Powell to take his post, as well as strong incoming data that would strengthen the dollar and induce Fed for rate hikes. The center of attention will be on the dollar in the next few days which is also anticipated to persist for a short period of time.
There is no major report anticipated from the U.S. or from the U.K. today, which is not surprising as it is the first day of the week. However, since the end of the month is approaching, a lot of flows is already expected and trades to be positioned prior the new month which would bring volatility to the pound. This is likely to persist in the next few days since the end of the month is near. Pressure will be eminent in trading but support will be in the area of 1.40.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: January 31, 2018 Yesterday, it was forecasted that the British pound major pair will find it support in the level of 1.40 and it was anticipated to the line dividing the bulls and the bears. This happened as the price plunged down towards the area of 1.40 and further down for a short period of time before bouncing upward again.
Buying and the rebound of the pair were strong which resulted in an upward trend of the pair towards the area of 1.41. The trade stays beyond this level as of the moment. The volume of purchases indicates the strong presence of buyers. Nonetheless, it is essential for traders to keep in mind the end of the month is near and the prices are likely to be influenced by the month-end flows and any move at this period of time, which should be not be overlooked by traders.
Although, fundamental factors did not strongly affect the pair, as well as economically, in the past few days which is already anticipated at the end of the month is approaching. These activities are moves largely are not part of the overall trend, which indicates that money flows have a bigger impact more than everything else. Hence, it is significant to wait on the sidelines and observe as this kind of trend will persist throughout the day since today is the last day of the month.
Regarding the economic news, ADP National Employment Report from the U.S. is anticipated to be released today but none from the United Kingdom. The ADP data is considered as a prerequisite to the NFP data, which will be published on Friday. Traders should anticipate for a strong data to keep their expectations for a rate hike from the Federal Reserve at a faster rate in the succeeding months. In general, the market is hoping for three rate hike for the year but a positive outcome through high figures on reports are necessary.
Andrea ForexMart
Official Representative
GBP/JPY Technical Analysis: February 5, 2018 During the Friday trading session, the market was a “risk off” move following, which resulted in a rollover in the market. The latest high implies the trend to move upward in the long-term period.
The British pound rolled over against the Japanese yen and reached the new high, but has had difficulty in the latter part of the day. It breaks higher than the level of 155, which has been a significant level that would induce buyers to return. However, there is a tendency for a volatility in the market and traders should be ready for big moves. Later on, the pair is likely to move towards the level of 160 but it will take a few days or week to reach this point. The uptrend has been really strong which is why there will not be a massive correction but more of a pullback in the market.
The next target level would be at 163 but it might take some time to reach this level, although, it might take some time to reach this level. Moreover, pullbacks would also open opportunities for purchases which makes small deals to be the ideal strategy in this situation. Other than that, this market is sene to have a lot of noise, which is referred as the “Dragon” in the forex market. Risk sensitivity is still a big deal for this pair, especially for British pound which is gaining strength. It is better to make sure for the pair to rise in value before placing bets on it, although this pair is likely to compete in the market very well.
Andrea ForexMart
Official Representative
EUR/GBP Technical Analysis: February 7, 2018 Volatility was predominant during the Tuesday trading session as the U.S. dollar dominates the market, which had an unfavorable effect on both currencies. The market shows the relative strength of the market.
It has been bullish during the Tuesday trading session as the British pound declined against the U.S. dollar. Nonetheless, the euro did not fall, as much as, the British pound. For now, the pair will be based on their relative strength but since the euro did not drop as low as the British pound, traders are anticipated to trade and push the pair higher. The market is close to the level of 0.89 which is a fair value in the consolidation area. The upward momentum implies the uptrend of the pair towards 0.90 level.
A massive resistance was seen at the area of 0.90 which has been the upper boundary in the past and it will be not easy to break this level. Although, there is a bit of noise found lower than the level of 0.8875 which proceeds to offer support in the market. I would suggest buying on the lows but it will be part by part instead of a big move. The pair will break out of the consolidation area and proceeds to move up towards the level of 0.95. Alternately, it is also possible to a have a new low which would send the market to reach the level of 0.86 based on the long-term charts.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: February 9, 2018 The euro against the U.S. dollar moves in the market without a particular direction as the bulls and bears fight for control. There is no fundamental news or any economic data that could push the prices higher in the past 24 hours focusing on the stock market which continues to go down. It has to fight in the currency market which could result in a slow and steadfast trading for the day.
Trading has been choppy and looking at the market, the dollar is having difficulty in sustaining the momentum in the beginning of the week. The euro bulls also attempted dominate amid the market with a bearish tone in the base. A dead heat argument persists in the U.S. Senate, although the U.S. might face another economic shutdown, which just happened days ago.
These developments may hinder the dollar following the rally of bulls in the past week. The economic data from the U.S. proceeds to be strong and a high chance for a further rate hike since most of the Fed members are also looking forward to it. Although, the dollar bulls were affected by the geopolitical developments which add more pressure of uncertainty to the market.
There is no major economic data from the U.S. or the eurozone. A consolidation is anticipated on the pair with the dollar behind because of economic shutdown worries. When the market manages to prevent the last minute, a pickup in momentum is possible to return.
Andrea ForexMart
Official Representative
USD/CAD Technical Analysis: February 12, 2018 The American dollar rallied versus other currencies around the globe, and the Loonie seems different. The USD/CAD rally due to declining prices of the oil. The Canadian dollar is commonly used by currency traders as a substitute for the oil markets which means that when the WTI Crude Oil drop, the Loonie will typically follow.
The US dollar attempts to create some stand to resume the bullish pressure, this could be done if the oil markets continue to remain weak. An unidentified employment figure will be released on Friday from Canada but failed to help things. Looking forward, the interest rates in the United States are rising which indicates a good sign for the currency. With this, the buying pressure is projected to continue, however, there is a tendency that the opposite thing may happen. We could consider this upon breaking down under the hammer formation last week. Basically, it is a breakdown beneath the 1.22 handle. In the past, there are a lot of short-term volatility in the USD/CAD which normally occur upon the intertwining of the two economies.
It should be noted that the United States and Canada are each other’s biggest trading partners which often grind each other. It can be assumed that this point can be defined as a “crucial inflection”, so it is advised to maintain a small position and add when the market establishes itself well.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: February 15, 2018 The pair soared higher following the release of a strong inflation data and weaker retail sales which pushed the dollar lower.
The Euro against the U.S. dollar had an intriguing trading session and found to have volatility which is already anticipated amid a slight change from the outcome from either the eurozone or the U.S. Although, the data from the eurozone did not exactly have an impact with the expected data from the U.S., which would greatly affect the strength of the dollar, after which, it would also push the pair higher.
Yesterday’s trading was centered on the dollar in anticipation of the release of both the CPI and retail sales data from the U.S. Besides the NFP report, there are two significant data that were released monthly that is anticipated to come out strong and get better results, given the situation of an incoming data from the U.S. in the past few weeks. There has been a mixed result where the inflation data came out stronger while the retails sales data came out weaker than the forecast. This pushed the dollar to climb higher at the beginning.
Scrutinizing the effects on the market, the inflation data has had a year-on-year basis which did not have much of an activity along with a weak retail sales data. Consequently, the dollar was reversed including the whole trend, which then resulted in a particular price movement and broke the level of 1.24. The next target would likely be at 1.25 level, which would eventually become a significant resistance level and rise above that makes this pair more interesting to trade in the market.
There are other data from the U.S. scheduled to be released today, particularly the PPI data. This would then have a large effect on a strong dollar. If data came out weaker than anticipated, this would lessen the chance for the Federal Reserve to raise their rates and push it even much higher.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: February 19, 2018 The single European currency and the British pound shared the same fate on Friday, as it showed high volatility during the first half of the day due to the weakening of the US dollar. While in the afternoon, the strength of the American currency prevailed which helped regain the profits of the sterling of the past few days. It further helped the GBP/USD pair to end the weak in a sluggish approach which indicates correction in the following days.
The pound was secured because of the dollar instability and pushed the Cable pair to reach the 1.38 zone until the psychologically important level of 1.40. Briefly, the pair moved away from any danger for good and the pound bulls attempt to stabilize the momentum in continuing the upward movement in the near term.
As the decline of the dollar does not have enough economic data or fundamentals to support it, the rebound in the US currency did the same. This resulted in the downturn of the pound, pushing through the 1.41 mark and traded underneath the 1.40 area for a short period of time. Subsequently, the pair successfully closed the week above the 1.40 level. As of this writing, the Cable pair continued trading on top of that region and the price level is expected to remain on that point, relative to the bulls and bears. In case the pair remained steady above 1.40, the bulls will take control which would likely to be seen in the coming weeks.
Ultimately, there is no major news from the United Kingdom while there is a bank holiday in the United States today. It is safe to say that consolidation and ranging are possible while market players anticipate for bigger investors to show up its intentions and start to move in a certain trend in order to tag along. It is believed that the USD will gain strength in the medium term.
Andrea ForexMart
Official Representative
EUR/GBP Technical Analysis: February 21, 2018 The single European currency paired with British pound had broken down during the course of Tuesday’s session. The EUR/GBP pair moved lower near the 0.88 mark which is a previous support and resistance. Hence, it should be expected that the market will have plenty of noise around that level.
Generally, the market will be noisy due to potential headline risk brought by the euro/pound pair in line with the negotiations of the European Union and the United Kingdom. Therefore, this problem might continue until the next couple of months that make trading tough over a long period of time.
Breaking down under the 0.88 region will allow the market to touch the 0.8740 zone. Otherwise, a rally from that point will push the market above the 0.8860 level or even to 0.90 eventually. This type of market requires players to take profits hurriedly for it’s nearly impossible to hover a trade in the longer-term, except when one is able to deal with wild swings for both profit and loss. Nevertheless, the general upward trend will resume since participants favor the EU stability against the uncertain future of the UK. It is possible to move on top of the 0.93 area.
Andrea ForexMart
Official Representative
EUR/GBP Technical Analysis: February 26, 2018 The euro against the British pound broke lower than the Friday trading session and reach lower than the level of 0.88. There is a massive support around the area with a lot of noise in the long-term.
The presence of noise will most likely persist with the headlines as the result of negotiations between Brussels and London which is likely to influence the pair. At the same time, traders should anticipate for volatility. Looking at the weekly chart, the pair ranges 300-pips and it will remain for some time until there is a definite proposition for the negotiation. The market should anticipate for this to continue in a while.
Traders could utilize in accordance to the stochastic oscillator as they will be trading back and forth in short-term. There is also a probability for negativity with the level of 0.87 in the floor below. The closer this level can be reached, it is wise to buy in this market and will be the focus on this move. Traders could sell at some point and volatility is likely to persist unless it turns around higher than the level of 0.8840. Hereinafter, buying is possible and continues to be volatile. However, if you are not strong enough and focus on the consolidation of the area and a lot of opportunities to gain profit in a well-defined rectangle.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: February 27, 2018 The euro against the U.S. dollar has been trading closely on either side at the level of 1.23 as the market presumes the pair to move further.
The EUR/USD pair is moving within a tight range in the past 24 hours which is already anticipated in Monday trading session. Low volatility is not surprising in the current market condition. Traders are likely to position themselves for this week on Mondays which causes low volatility.
Similarly, trading remained the same despite the speech of ECB President Draghi yesterday. The speech met the expectations with him saying positively on the growth of the economy in the eurozone. He is recognized to be dovish but the fact remains of the steady growth of the economy as reflected in the incoming data and remains positive in the past few months. This has preserved the euro to keep afloat in the past 24 hours although the movements have been very minimal.
The market is also anticipated to gain volatility and liquidity as the end of the month is approaching. At the same time, price fluctuations to be inundated by trade positioning and monthly end flow. Options are also about to expire in the upcoming days, which will keep the market busy on particular price range.
The market will probably focus on the dollar with the new Fed chief, Jerome Powell, to testify and engage the market waiting for signals on monetary policies and future rate hikes in the next few months. As for the economic data, both the durable goods data and the trade balance data from the U.S. will be published and if it did not meet expectations, the dollar is likely to roll downward.
Andrea ForexMart
Official Representative
USD/JPY Technical Analysis: March 2, 2018 The U.S. dollar retreated in the beginning during the Thursday trading session and reach the level of 106.50 prior its rebound to the level of 107. Overall, the price level of 107.50 will probably be attained then move towards the area of 108. There is also the presence of noise but the 106.50 level is also giving off support. Presence of buyers will be felt for some time, especially when the stock market gained its momentum once again. The market would then reach the area of 110 towards the level of 114.
A massive support was seen close to the area of 105, which has been psychologically significant and structurally previously. Hence, a breakdown below would not be a good thing for the pair and confirms the decline to the level of 100.
In long-term, the market would further climb higher especially if the rise in interest rates would continue amid the differential interest rate of ten-year notes between both countries and propel towards its next move, although, this would be good for a long-term goal. The market will probably proceed with noise but there are also opportunities to pullbacks that some would take advantage immediately.
Andrea ForexMart
Official Representative
EUR/USD Fundamental Analysis: March 6, 2018 The EUR/USD pair constantly trading in a strong manner as it moves away from the election results in Italy. The focus remains to be on the dollar weakening felt across the markets. It is somewhat surprising for those who expected that the Italian election will bring an impact towards the euro area but the results of further led concerns of the EU leaders.
Italy is the third biggest economy in the European region and the election results indicate the increasing anti-establishment votes. This event is common from all over the countries especially from the United States to Asia. Hence, this should be one of the main concerns of the Euro officials since this kind of trend may grow continually which could hurt the euro and its existence in the following years. However, this does not necessarily mean that the euro is free from any burden while traders appear to be happy about the maintained current situation. This the reason behind the move of the euro/dollar pair through the 1.2350 level as of this writing
Ultimately, there are no important economic news or data from the EU or the US for this day but this reflects some ranging and consolidation in the near-term. Also, the markets anticipate further set of data in the second half of the week from the United States, indicating a short-term trend for the greenbacks.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: March 7, 2018 The British pound resumes its uptrend amid the weakened dollar across all market in the past 24 hours. Although the increase was not as high as it can be, it was able to move steadily which has assisted the British currency to recover from its lows and have a steady uptrend over the past few days. These gave the investors more confidence during the said period of time.
Meanwhile, the sterling pound has been moving steadily and further boosted by the lack of economic data. The ongoing Brexit negotiation following the set plan also supports the pound. Euro leaders have been busy with their domestic concerns and at the same time, rumors and commentaries about them have also lessened At the same time, the Brexit negotiation has assisted the dollar to move steadily.
The dollar got behind against other currencies following the resignation of Trump’s economic advisor, John Cohn, which is not favorable for the president and his team as they have had some difficulties in handling situation in the past few months. On the other hand, this is advantageous for the dollar as the overall market which is the reason for the dollar’s decline during this period of time.
The market is getting ready for the slew of data in the upcoming days with a new month has begun. The ADP employment report expected to be released today will hint at the results of another incoming data of Friday. If the data came out weakly, this would further push the GBP/USD pair towards the area of 1.40.
Andrea ForexMart
Official Representative
EUR/USD Technical Analysis: March 9, 2018 The euro paired with the dollar had whipsawed yesterday and pulled lower after the monetary policy meeting of the ECB. The focus of the meeting was back again about removing the easing bias. The European Central Bank (ECB) decided to kept the interest rates unchanged and further confirmed the timeline of the Quantitative Easing (QE) until the end of September. Moreover, the unemployment claims edged higher from its 48-year low over the past 24 hours. But the US labor market remained tight to support the American currency.
The EUR/USD pair moved downwards and formed a triple top followed by a head and shoulder reversal pattern. The resistance entered the 1.2446 region which is close to its March highs, while the support touched the 1.2308 level around the 10-day moving average. The momentum had a reversal and approached the negative territory. The MACD index showed a crossover sell signal as well as the fast stochastic indicator. As of this writing, the MACD histogram prints in the red with a descending sloping momentum which reflects lower prices.
Andrea ForexMart
Official Representative
EUR/GBP Technical Analysis: March 19, 2018 The EUR/GBP pair has plenty of noise during the trading course last week. However, the current position is in the significant consolidation zone. The level below the 0.87 is the “floor” of the market and the area above 0.90 is the “ceiling”. The pair seems appealing to short-term traders but there could be an ascending trend in general. We are waiting for the results of the talks between the United Kingdom and the European Union, upon the clarity of this, the EURGBP will strive to conduct significant moves.
Despite of this, the market may still offer significant opportunities but the longer-term trader will continue to struggle and possibly hold the range that provides benefits in trading despite any fluctuations. An ability to break down under the 0.87 handle will push the market to the 0.85 eventually. Otherwise, a cut through on top of the 0.90 region would give rise to a “buy-and-hold” scenario. The level above 0.93 handle is the most recent high. As of this writing, there are no break out expected in the next few weeks and would lead to a range bound short-term market.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: March 21, 2018 The British pound against the U.S. dollar had a downward correction due to the pressure from the dollar which has been strengthening across markets yesterday. The pair positions just over the area of 1.40 and there seems to be no threat for the bulls but it is still uncertain who will lead the trend.
There will be high volatility in the market with the expectation of the FOMC rate announcement which would then be followed by a press conference. It is highly anticipated that the Fed will raise their rates for the first time, which is highly possible. However, we cannot be certain if the market expectations of a hawkish decision would be met, which the market bulls area also hoping for.
However, if the greenback weakens, this would come about just for a short period with the incoming data to dominate the market and boost the dollar. For tomorrow, we have the BOE meeting to look forward to but it is yet to be known if this will have a hawkish tone, in consideration of the Brexit talks in the past few weeks. If this happens, traders should expect for volatility.
Considering all this, traders are suggested not to presume any outcome or direction and trade deciding on the how the situation presents. It is best to wait for the markets to settle down then decide later on when the market has stabilized. For today, the FOMC meeting will be the center of attention that could result in consolidation in the market.
Andrea ForexMart
Official Representative
USD/CAD Technical Analysis: March 26, 2018 The American currency plummeted against its Canadian counterpart during the previous trading session and began to move near the 1.31 handle and break the 1.30 region. The oil markets performed pretty well which make sense. It seems that the market will find further reasons to chop around the 1.28 zone, which appears to offer support.
The cluster seen in this region served as the current support but this indicates a negative note as the “two-week shooting star” pattern was formed after a complete round trip. Alternately, an ability to break above these 2 candles would likely show a bullish sign but the USD/CAD is preparing to move back and forth amid concerns on trade war breakout.
It seems that the short-term traders will prevail over the market next week with the 1.28 region as the floor and 1.31 would act as the ceiling. Hence, the situation might be very choppy and tough, however, breaking on top of the 2 candle will clear the way through the 1.35 handle. Market players should observe the WTI Crude Oil and a gap over $70 is enough to break the market downwards.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: April 2, 2018 The GBP/USD pair continued trading around the 1.40 support zone which is expected to be the battleground between the bears and the bulls in the near term. However, it is difficult to make a conclusion since today is a holiday in many countries in celebrating the Easter Sunday. Hence, liquidity and volatility are predicted to be extremely low.
The Cable managed to move over the 1.42 level in the past few weeks amid the dollar weakening and also because the BOE’s hawkishness which continues to become a stronger economy as the Brexit process become smoother. The process resumed a slow, steady and continuous manner and it would take less than a year prior to the completion of the process.
So far, the British economy supported for such improvement as the process continue to smoothen and the UK had a positive performance which helped the Bank of England to conduct a rate increase during this period.
The resumption of a stable economy is beneficial for the central bank to consider further rate hikes ahead and this helped the BOE to maintain a hawkish stance. These events pushed the pair near its highs in the short-term range but it met a lot of selling as the American currency strengthen. As a result, the GBPUSD pair hovered around the significant level of 1.40. In case that the support was broken, the bears will have an opportunity to dominate again the market.
Ultimately, there is no major news from the UK or the US since its holiday in most parts of the world which indicates that the volatility and liquidity would be low for that day.
Andrea ForexMart
Official Representative
GBP/USD Fundamental Analysis: June 11, 2018 The pound/dollar pair continued to trade around the 1.3430 region on the back of the failure to create bullish momentum in the previous week, as it was beaten by the major handle and the markets are waiting for further progress in Brexit this week. Due to the scheduled FOMC rate hike in the upcoming week, the interest rate differential of the GBP and the USD is predicted to move in different directions which could hold the Pound on its starting position and push the British currency into the recent lows. Following the recently rejected Irish border solution, market participants await for further news within this week while the United Kingdom continue to negotiate in looking for the middle ground for the hard-line Brexiteers and the EU leadership in Brussels. Nevertheless, Prime Minister Theresa May was caught in between and trying to find fair solutions for both sides.
The upcoming week is projected to be really busy for the Sterling pound since 4 out of 5 trading session this week brought extreme impact to the UK calendar that could support a high level of volatility for market players. Today has plenty of data for Britain which will be all published at 08:30 GMT, however, the focus will be on the Manufacturing Industrial Production data which is expected to remain unchanged at 2.9%. The US session today appears to be in smooth sailing according to the economic calendar, but traders might deal with the G7 summit blowout, wherein US President Donald Trump leave the summit earlier and depart the US’ support of the G7 communiqué, following a Tweet from POTUS aboard Air Force One heads to Singapore for the Trump-Kim summit.
At the same time, the figures for Average Earnings Index +Bonus (Apr), Claimant Count Change (May), Core CPI & PPI input and Core retail sales in the next three consecutive trading sessions. Moreover, the daily chart indicates that the GBP/USD currency pair corrected higher from the lows of 1.3205 alongside the diverging technical oscillators. On the other hand, the Relative Strength Index (RSI) had an unexpected move towards the oversold area and bounced back to the GBP, which descends to the levels of the beginning of last week. The Slow Stochastic resumed moving in an upward trajectory. The daily chart of the 50-day and 100-day moving average formed a death star crossover, this means that there is an initial downside potential of the Cable pair to break the 1.3300 region prior attacking the area of 1.3200. The upside of the pair is necessary to break back above the 1.3380 to the 1.3450 target, which is the last week’s high.
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Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: June 18, 2018 The British pound was able to dodge the immediate impact of the rise of the dollar while the euro dropped by two significant points that dominate the market in the previous week. The dollar gained from the rate hike which started by the Fed and the positive outlook of the Fed in the economy.
The hawkish sentiments gave t chance to the dollar to rise and the dollar bulls to plan ahead with two more rate hikes to look forward to. The Fed gives similar signals which still yet to be seen if they would continue the process and they would implement this in a specific period of time later on. We have witnessed that the rate hike would have minimal impact on the market, especially on the pound.
It seems that everything is going smoothly in the UK as the Brexit negotiation starts to advance and there are no signs of risks yet. Hence, the pound maintained its position in the support area despite the strengthening of the dollar and activities in the eurozone. The European Central Bank decided to extend the easing program which in turn, weakened the euro. Although, these things did not really affect the pound as it continues to trade close to the area of 1.32.
There are some strong purchasing in this area, as well as at the level of 1.30. Once this is achieved, the lead will be in the hands of the bulls which is likely to be maintained in short term. It seems that there is also no major event to affect the movements and we can say that the price is in consolidation and persists to be within the range for the day.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: June 19, 2018 The Sterling pound slightly weakened amid Monday trading course and further moved lower to the 1.32 zone. This level is considered a round psychological significant number but it seems that the market will search for additional support below the 1.30 area. It is also possible that rally sell-off will resume since the American dollar is expected to continue to attract traders who badly need protection.
A break over the 1.33 handle would allow a higher move to 1.34 level. After the extreme sell-off on Thursday, this would be a difficult scenario to reverse things, and the momentum is believed to be on the side of the sellers regardless of any situation. Forecasts also show that the level below 1.30 would likely be a massive support area and a break down beneath indicates a negative scenario.
There is high chance that the market will see a “sell the rallies” type of consolidation in the near-term, which means pushing a move to the downside in the longer-term. Nevertheless, good news could help to turn things around.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: June 27, 2018 The Australian currency had slightly decline amid trading course on Tuesday and was able to touch the 0.74 level below. According to the chart, the light blue circle that formed a “W pattern” at 0.7350 zone indicates some bullish reversal signal, the said level is considered significant in the longer-term chart. With this, it seems that we are in a neutral position attempting to reverse the overall market sentiment which would cause a lot of noise.
In case that market will break on top of the 0.75 handle, this shows a bullish sign which appears to hang in the trade of a significant trend in the longer-term. Below this zone seems to offer enough support to help the market buoyed. In general, the market may continue to be noisy but holding a position above the significant area of 0.7350 would likely attract more buyers.
Aside from that, the weekly charts generated a massive hammer formation last week which showed a bullish sign, as expected. Hence, there is low chance to have a good rebound which is in favor of the short-term charts. Otherwise, a break under the 0.7350 mark would pull down the market toward 0.70 zone.
Andrea ForexMart
Official Representative
GBP/JPY Technical Analysis: June 28, 2018 The British currency had seesawed during Wednesday trading session and rebounded from the ascending trend line below to turn around and touches the ¥145.33 level. Apparently, the market will continue to have a lot of noise in general due to fears about trade wars. However, there are certain attempts to seriously break down through the upward trendline that can be seen on the hourly. An ability to move under that level would allow the market to reach the ¥144.50 level or lower.
Otherwise, the market might bounce from that point when some good news was released. From there, the market is expected to go near the ¥146 level, which is an area of resistance barrier of various minor in between that requires a significant amount of momentum to gain a position above.
Remember that the GBP/JPY pair is predicted to be extremely volatile and highly sensitive with regards the news and current issue between China and the United States. It is believed that this market is going to receive a lot of bad news despite the significant bounce from the remarks of Donald Trump that he is not interested to further heighten the trade war to hold China from investing in the US technological firms.
Andrea ForexMart
Official Representative
AUD/USD Technical Analysis: July 3, 2018 The Aussie dollar had a significant break down during the trading course yesterday and further cut through the 0.7350 zone. There is a lot of support underneath that level and it appears that players attempt to slice through it. If this happens, the market would likely move to the 0.73 handle or even to the 0.72 mark eventually. At present, rallies may be sold-off since Sino-American affiliation continue to fall apart. The nearing deadline for the trade tariff on Friday appears to be true but traders are also concerned about China’s retaliation plans.
Market players will be confident to buy the Australian dollar again until the trade pressures eased down due to bid for safety. As of this writing, the market may drive lower but traders might experience an occasional bounce. Also, the markets may resume moving based on the headlines while the downside may be the most convenient way to trade, considering that the markets avoid risks.
Andrea ForexMart
Official Representative
GBP/USD Technical Analysis: July 4, 2018 The British currency had a significant rally during trading course yesterday and further reach the important region of 1.32. It seems that the market will continue to search for sellers around that level, while a break on top of that area will show the next target above the 1.33 mark. This market remains to be very noisy, however, the market is predicted to move according to headlines and uncertainties at the end of the day.
The hourly chart formed a “higher low” but it is too soon to consider the market reversal in the longer-term. Forecasts show that the greenbacks would likely continue to gain strength in general while traders buy additional treasuries. Aside from that, there is some unknown factor relative to the United Kingdom and participants should take extra care.
Since today is the Independence Day holiday in the United States, we should anticipate a very noisy market unless liquidity will flow intensely that could prompt further shocking news. Generally, we can expect for some quiet fluctuation in the trading area.
Andrea ForexMart
Official Representative
GBP/JPY Technical Analysis: July 17, 2018 The British pound rallied a little during the Monday session and reaches the level of 149.50 before apparent signs of exhaustion. Higher than 150 signifies exhaustion in the market with expected resistance. Thus, we could strike on the opportunity to short this pair. It looks like the market has overexpanded and faces strong psychological level above 150.
Although it is still suggested to short this pair in a smaller move, the long-term selling will bring the rates back to 150. A break higher would give the green light to traders in applying the “buy and hold” strategy yet, the strong political tension around Britain could strengthen the Sterling pound for long-term. The pair will continue to chop around and eventually make way for some clarity that the trend lacks as of the moment. For the short term, sellers are anticipated to be present while more sellers will join in the long-term above the trend. Nevertheless, we should keep the possibilities open as it may change anytime. Noise will still be present because of the political tension in the U.K. and global risk appetite. Hence, small trades will be the ideal approach for this market since noise will be the main impulse in overall trading while headlines will likely cause sudden movements in short-term.
Edited by user
2018-07-17T10:38:16Z
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Reason: Not specified
Obasi ForexMart, Official Representative
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