eMoneySpace
Welcome, Guest. Please login or register.
Did you miss your activation email?
News: Earn your money online safely here at eMoneySpace. Oct 18, 2021 08:57 PM




Daily Market Analysis from ForexMart
Print
Author Topic: Daily Market Analysis from ForexMart  (Read 39108 times)
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #60: Feb 28, 2018 08:26 PM

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.



Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #61: Mar 02, 2018 01:20 AM

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.


Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #62: Mar 06, 2018 11:07 PM

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.
Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #63: Mar 07, 2018 11:53 PM

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.
Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #64: Mar 19, 2018 08:15 PM

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.
Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #65: Mar 21, 2018 08:52 PM

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.

Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #66: Mar 26, 2018 02:42 AM

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.
Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #67: Apr 02, 2018 04:03 AM

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.
Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #68: Apr 16, 2018 01:58 AM

EUR/USD Fundamental Analysis: April 16, 2018

Missile launch directed to the specific target in Syria from the U.S. and their allies although the effect is not that big impact. Last week, there are topics regarding the possibility of a war between the U.S. and Syria. The situation is worsening that resulted in choppiness in the market.

A lot of investors has become anxious because of choppiness and the market has become more appealing. Hence, the trend was seen to have consolidated and trades in a range. The attacks over the weekend were said to be from the United States. On a lighter note, this is just for short-term which happened one time that cooled down concerns about a war. This has largely calmed down the market that is reflected in the market in the present condition.

Euro has been trading in a range for a number of weeks already and the tendency to break out in any direction is not clearly visible at this time. Although, there are breakout attempts on either side but did not come out with anything due to uncertainties caused by various factors including the area of Syria, the trade war between China and the U.S. as well as, the QE program.

For today, the retail sales data from the U.S. is unexpected to be released today as the first day of the week. Nonetheless, there is a slow data for today. Excluding the geopolitics concern, this data is anticipated to be more appealing that could initiate the trend for short-term.

Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #69: May 07, 2018 11:51 PM

USD/JPY Technical Analysis: May 7, 2018

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

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

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

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

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

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

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

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

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

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

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

Some speakers including the Fed Chair Jerome Powell will have an assembly on Wednesday at 19.15 GMT.
Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #70: May 09, 2018 10:08 PM

GBP/USD Technical Analysis: May 9, 2018

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

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

The European Central Bank has already announced that interest rates will be maintained a bit lower for a period of time that previously considered, which, in turn, added pressure on Sterling. Although this might be just for short-term and in the next few months, it is likely for buyers to return in this currency. However, the U.S. dollar will probably grow in the upcoming months which would greatly affect the currencies relative to the bond market and of course interest rate expectations. Alternately, if a breakout occurs at 1.3650 level, then there is a chance for a kick in upward momentum.
Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #71: May 15, 2018 10:44 PM

USD/CAD Technical Analysis: May 15, 2018

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

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

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

Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #72: May 22, 2018 11:43 PM

GBP/USD Technical Analysis: May 22, 2018

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

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

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



Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #73: Jun 13, 2018 12:06 AM

GBP/USD Fundamental Analysis: June 11, 2018

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

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

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


Logged
Andrea ForexMart
Reputation: (0)
*

Offline

Posts: 149
Referrals: 0

View Profile
Reply #74: Jun 18, 2018 11:13 PM

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.


Logged
Print
 
Jump to:  
Copyright © 2008-2021 eMoneySpace. All rights reserved.