BetSelection.cc

Daily Market Analysis from ForexMart (Read 27975 times)

0 Members and 1 Guest are viewing this topic.

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
#330 Re: Daily Market Analysis from ForexMart
February 13, 2018, 04:45:01 AM
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 others 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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
#331 Re: Daily Market Analysis from ForexMart
February 20, 2018, 03:42:51 AM
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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
#332 Re: Daily Market Analysis from ForexMart
February 22, 2018, 04:22:04 AM
EUR/GBP Technical Analysis: February 21, 2018

The single European currency paired with British pound had broken down during the course of Tuesdays 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 its 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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
#333 Re: Daily Market Analysis from ForexMart
February 27, 2018, 09:55:26 AM
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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
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
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
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.


Andrea ForexMart, Official Representative
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
EUR/USD Technical Analysis: May 17, 2018

The U.S. dollar moved along against the Canadian dollar on Wednesday but slid down following the release of a lower inventory data that came out during the day. This is favorable for the Canadian dollar but there are factors in play for long-term.

The result went for a bullish sentiment for oil, as well as, the Canadian dollar. It dropped as low as 1.2770 at the beginning, prior to a rebound. There is also an important support found just below the level of 1.2750. Thus, I anticipate for bounce off since there is more interest on the interest rate differential more than anything else just below 1.2450 handle as of the moment. Indeed, loonies can be used as a proxy in the oil market which is likely to persist but the headline is no focus on the 10-year interest rates in America.
 
The rate hike attracts more demand for the greenback, which will then lead to a higher exchange rate, especially since the economy is cooling down. Interest rates are likely to rise higher soon. Actually, the oil market is one of the factors that support the loonies. If this is reversed, it will rally to the upper region. We should expect some bounce later on, which would open buying opportunity, especially when the 10-year interest rates in the U.S. break higher than the 3.06% level, which is an indicator that more investors are looking out for. Shorting this pair may not be possible until it reaches a fresh new low.


Andrea ForexMart, Official Representative
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
EUR/USD Fundamental Analysis: May 21, 2018

The single European currency had a quite unfortunate week due to its own fundamentals. The predicted break of the EUR/USD pair under the 1.20 mark indicates the possible weakness to be nearly accurate. In the previous week, the euro/dollar pair had lowered down by 200 pips which are fairly huge considering that market players employ a tight 200 pip range in the past few weeks prior to that.

The tight range lasted for a long period of time and showed that the breakout would be massive. The upcoming data from the European region remains to be sluggish, which implies that there is a little bit of possibility for the QE tapering to happen in the next few weeks and led this speculation to a sell-off in the euro this week.

Also, the dollar resumed gaining strength in general combined with the weakening of the European currency that pushed the pair towards the 1.20 zone and beneath the 1.18 level amid the trading course of the week. As the currency pair closed the week under the region of 1.18, it indicates further weakness in the near term.

Ultimately, this week would have a slight pause for the euro and the focus for next week is the FOMC minutes of meeting which is widely anticipated to continue its hawkishness, pointing to further rate increases in the future. The market had already priced for two more rate hikes while the markets are expecting that the Fed will announce the raise at the end of the year. Aside from that, the inflation report hearings from the EU is expected but none of these data are in favor of the single currency. Hence, the euro would likely resume its sluggishness at the 1.15 mark.


Andrea ForexMart, Official Representative
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
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.



Andrea ForexMart, Official Representative
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
EUR/USD Technical Analysis: May 24, 2018

The euro had a significant decline during the Wednesday session and broke the area below 1.17. It seems that the market will proceed to lower, which could lead to the downfall of the euro. There are other problems with the European Union, as well as, Italian concerns.

The euro has broken lower as mentioned earlier and it seems that it goes down much lower. The major support level below would be the 1.15 level and will likely remain to be the goal. Short-term rallies could offer opportunities in selling this market against the greenback. The level of 1.1825 is slightly a ceiling although, it seems difficult to see a situation where there is a continuous short-term rally and lead to exhaustion later on.

If the pair breaks below the area of 1.15, the market could take out quite a bit of a value in there. I suggest to be careful about relying on the rally with a lot of negativity from the European Union as a whole. As the interest rates in the United States increases, it seems that greenback will gain more attention and have an effect on the forex market. There is a tendency for the market to look for the bottom as the euro declines importantly that could easily deceive new traders. The downtrend may be significant but it seems difficult to be sustained in longer-term and at least try to reach the level of 1.15.



Andrea ForexMart, Official Representative
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
GBP/USD Technical Analysis: May 28, 2018

The British pound against the U.S. dollar is moving higher towards the area of 1.3350 in a calm manner during the Monday session. Hence, we can expect a muted Monday session since the Memorial Day and the U.K. has also extended their Spring Bank holiday. Since most major pairs are not active at the beginning of the week, there is very low volatility for the week and less economic calendar for most of the week. The first data to be released will be on Wednesday, followed by Non-Farm Payrolls on Friday. Investors will monitor carefully for any signs that could induce volatility for the week.

The British major pair is trading close to the cyclical lows of 1.3305 at the last week of May after scheduled data for the week failed to support against the greenback. The macroeconomic of U.K. is influenced by two significant headlines including sluggish economic growth and decelerating inflation. The inflation target of 2 percent by the central bank is moving at a faster rate in line with the bank rate. This is due to the inflation-adjusted real wage amid the stale growth in the first quarter of the year. Both actions support the argument of the Bank of England following the bank rate with the forecast of Bank rate hike by 0.25% in February next year referring to the efficiency of money market rates.

Sluggish inflation of the Sterling is not so good as it gives them more time for the BoE before acting on the interest rates.  The Bank of England Governor, Mark Carney, and the Monetary Policy Committee (MPC) external member, Gertjan Vlieghe, have the same sentiment when it comes to the monetary policy where they deem the interest rates to go up gradually in the next few years. The bearish trend resumed as exhibited on the daily chart after a period of consolidation at the beginning of the month, but has not yet found a bottom following the previous decline where the indicators showed moderate easing. We should anticipate the support level at 1.3280 / 1.3245  and resistance level at 1.3365 / 1.3400.



Andrea ForexMart, Official Representative
FOREXMART

Andrea ForexMart

Offline
  • *****
  • Hero Member
  • Posts: 536
  • Gender: Female
    • View Profile
USD/JPY Technical Analysis: June 5, 2018

Yesterday, the U.S. dollar swayed sideways and reached the level of 109.50. The next target will probably be the 110 handle given a large whole number. It has shown some amount of resistance recently.

The greenback moved sideways against the Japanese yen during the Monday session, which was highly bullish in the past few days. As expected, the pair formed a hammer pattern on the weekly chart and the pair is likely to rise higher when it breaks the level above. It would probably reach the level of 110 and until it does, I would be cautious before placing a lot of money on it. If the pair declines from here, it would not be easy to short this pair since there is a lot of support found below.

The market will probably be sensitive in regards to trading the pair, given the rising concern on the trade war with the United States. If the market becomes anxious on the trade war, this is likely to affect the market with the greenback have a hard time in general. I think short-term pullbacks would offer a lot of opportunities, which can be seen in the present time. Thus, I would think twice before placing trades at least until a successful breakout on the said level of 110. We should bear in mind that the pair movements will be relative to the risk appetite that is why we should give attention to the stock market especially the S&P 500. Thus, it wont be easy to work on this pair. If it rallies on the market, then this pair will probably rise higher as well.



Andrea ForexMart, Official Representative
FOREXMART