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USD/JPY Discussions / Daily Market Analysis from ForexMart: USD/JPY
« on: March 31, 2016, 03:42:19 PM »
Technical Analysis for USD/JPY: March 31, 2016

The Japanese Yen expanded in today’s early trading as Fed chairwoman Janet Yellen’s dovish remarks on Tuesday prompted investors to sell their greenbacks. The currency pair hit a daily low of 112.25.

Yellen’s speech on Tuesday to the Economic Club of New York said that caution must be exercised in hiking interest rates, lessening the possibility of a rate increase during Fed’s upcoming meeting in April. However, Yellen is optimistic on the growth of the US economy.

The dollar experienced a rally in the past weeks due to other Fed officials’ hawkish statements that implied they are eyeing to raise the numbers.

The speculation of a rate increase is now expected in Fed’s next meeting in June.

Yellen’s announcement put the Bank of Japan (BOJ) in a more difficult position, which is battling stagnant deflation amidst strong currency. BOJ’s negative interest rates set in January did very little to help the situation.

Eyes are now on BOJ Governor Haruhiko Kuroda to see what monetary tools he will use to ease the problem. The BOJ may be forced to further lower the interest rates during its policy meeting in April.

The first support was at 111.82 and 111.26 subsequently. The first resistance was at 112.62 and 113.19 subsequently.

The MACD indicator is in a positive location. The price is falling.

AUD/USD Discussions / AUD/USD Analysis from ForexMart
« on: March 29, 2016, 05:59:24 PM »
Technical Analysis for AUD/USD: March 29, 2016

The Australian dollar edged up in today’s trading after mixed US data weighed down the dollar.

The US’ core PCE in February posted a dismal growth of 0.1 percent, missing the 0.2 percent forecast. The core PCE price index also performed below expectations as it rose annually by 1.7 percent. Meanwhile, consumer spending was went up by 0.1 percent, meeting government forecasts.

The US economy experienced a 1.4 percent growth in Q4, topping a 1.0 percent forecast, which carried the dollar slightly.

The Aussie dollar, which has risen by about 3.7 percent this year, is expected to continue a slow climb as talks of the currency’s overvaluation is still in the air. Investors are still waiting if the RBA will cut interest rates to keep it from further ascent.

A speech by Fed Chairwoman Janet Yellen later today may sway investors to buy back the dollars.

The pair is now facing a ceiling at 0.7572 and can be seen testing 0.76.

The first support was at 0.7519 and 0.7481 subsequently. The first resistance was 0.7585 and 0.7623 subsequently.

The MACD indicator is at a negative location. The price is falling.

GBP/USD Discussions / Daily GBP/USD Analysis from ForexMart
« on: March 28, 2016, 07:14:02 PM »
Technical Analysis for GBP/USD: March 28, 2016

The British pound slightly recovered from last week’s trading as it hit a daily high at 1.4180, taking advantage of the dollar’s respite. However, the pound’s strength is expected to be short-lived as the uncertainty of the Brexit looms over the market.

A bearish outlook on the pound remains leading to the EU referendum in June. On the other end, a stronger dollar is anticipated in the following days as investors remain hopeful for a rate hike in the near future based on  Fed officials’ vague remarks.

The first support occurred at 1.4098 and 1.4028 subsequently. The first resistance was at 1.4149 and 1.4220 subsequently.

The MACD indicator is at a negative location. The price is falling.

EUR/USD Discussions / Daily EUR/USD Analysis from ForexMart
« on: March 28, 2016, 12:06:19 PM »
Technical Analysis for EUR/USD: March 28

The efficacy of the stimulus measures held by the European Central Bank is drawing near its boundary as stated by the president of the Netherlands Bank, Klaas Knot. He thinks that the ECB monetary policy instruments have been worn out.

The first support occurs at 1.1150 and at 1.1050 subsequently. The first resistance resides at 1.1260 and at 1.1350 subsequently.

The price is along the Ichimoku Cloud and it is over the Chikou Span. The Tenkan-sen forms a horizontal movement and the Kijun-sen shows a descending motion creating a "Dead Cross".

The MACD indicator is in a negative location. The price is correcting.

General Discussion / Daily Market Analysis from ForexMart
« on: March 23, 2016, 03:45:39 PM »
Fundamental Analysis: March 23

Being halted from increasing in opposition to the major currencies on Tuesday, the dollar still gained support caused by the investors who stick on being heedful as a round of terrorist attacks in Brussels killed 26 people and left more than 100 injured. This devastating events in Brussels affected the euro and the British pound negatively.

The market slightly strengthened in the absence of important macroeconomic reports. Likewise, US releases did not help to enliven the market. The existing Home Sales for February embark at a low level wherein it was lessened by 7.1% whereas analysts had hoped for a more moderate fall of 2.8%. The Chicago Fed National Activity Index for February embarked at -0.29 contrary to the reported +.025 and the previous value of +0.41.

Our focus will be on the IFO Institute release. The dynamics of Gross Domestic Product of Germany is closely corresponded with this indicator and investors always keep an eye on it. This indicator has been consistently giving a negative trend for the last three months. In the midst of euro's growth, the market did not anticipated the data to be better than the consensus report. However, the data embarked at the level of 106,7 contrary to the reported 106,0. The euro/dollar pair decreased.

An Inflation Report was released by the UK. As expected, the sturdy labor market data pointed to the forecast that was a little better than the consensus report. The average monthly income was 0.2% in the last three months which would heighten inflationary pressures whilst the unemployment in UK is at the bottom-most level now since 2005. The Consumer Price Index embarked at the level of 0,3% y/y and 0,2% m/m contrary to the reported 0,4% y/y and 0,4% m/m. The pound/dollar pair aggressively declined by the end of the trades.

As of now, we are not expecting a sturdy increase of quotations. The investors were not pleased with the United States' poor macroeconomic data wherein the Existing Home Sales for February lessened by 7.1%. The home sales reduced by 6.7% from January to March which only certified again the assumptions that the Americans started to save more than spending. The dollar/yen pair became stronger.

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