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Messages - Andrea ForexMart

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General Discussion / Re: Daily Market Analysis from ForexMart
« on: April 21, 2017, 06:06:08 PM »
AUD/JPY Technical Analysis: April 21, 2017

The Australian dollar against the Japanese yen rebounded strongly on a major support level for this day following a downtrend which came to a stop. There also has been a sharp response to the Wall Street concerning risks amid the weakness of the currency and uncertainty brought by the French elections on Sunday. This could also be a way to encourage the bulls before the next retest.

The pair rebounded from the former resistance level at 81.50 which the shifted into a strong support. It jumped as much as 100 pips although this is about to decline.

The vertical trend line is near the 200-day Moving Average. The region close to 81.50 which becomes a significant psychological level. This further went up as it is now found at 82.15 level surpassing the current level and similar to200-day Moving Average. It could further go up and break over the current levels towards the next target levels at 82.80 then 83.30.

However, if the market fails to sustain the 82.15 support level then there is a chance to break lower than the critical level of 81.50 as a support. When this happens, this could be followed by a correction towards 78.50 with 61.8% Fibonacci level up to the 78.50 region in the next decline.

EUR/USD Discussions / Re: Daily EUR/USD Analysis from ForexMart
« on: April 21, 2017, 02:10:31 PM »
EUR/USD Fundamental Analysis: April 20, 2017

   The EUR/USD pair encountered a lot of selling pressure after it reached the 1.0750 trading range and was unable to make any significant progress beyond this particular region. The currency pair has tried in vain to break through this range and has since then resorted to consolidating between 1.0750 and 1.0700 region for the duration of yesterday’s session, with the pair’s bulls mostly responsible for maintaining the pair’s position within its range highs.

   There were no economic news released during the previous session and this is why the EUR/USD pair merely engaged in a ranging and consolidating mode with a bullish undertone for the US dollar. The USD strength was not that pronounced and was only able to induce a minor correction in the EUR/USD pair. However, there are some members of the ECB that are saying that economic speculations in the eurozone could possibly exceed market expectations, however this did not make a significant dent in the current value of the EUR/USD pair. The 1.0750 trading range could possibly be a good position for the pair’s bears to push the currency pair down, where the selling is expected to surge. The currency pair could also possibly correct towards 1.0600 unless a major market phenomenon shocks the market yet again.

   For today’s trading session, the US will be releasing its unemployment claims data as
well as its Manufacturing Index data while there are no expected releases from the EU economy. The US Treasury secretary will also be making a speech within the day and this is expected to increase today’s market volatility. On the other hand, the USD is expected to hold its ground and the currency pair will most likely remain within its current range.

GBP/USD Discussions / Re: Daily GBP/USD Analysis from ForexMart
« on: April 21, 2017, 12:42:42 PM »
GBP/USD Technical Analysis: April 19, 2017

The British pound versus the U.S. dollar sustained the bid tone during the Tuesday Asian session. The price climbed from 1.2550 during the night and proceeded towards the 1.2600 level the next morning. The pound rebounded moved downhill during the post-London open. It almost reached the 1.2500 level as the trend turned bullish again. It surged upwards reversing losses as it broke exceeding the 1.2600 mark. 

The Resistance level came in at 1.2700 while the support level was seen at 1.2600 mark. If the market is capable of sustaining the psychological levels higher than the 1.2600, the buyers will have the upper hand towards 1.2700.

AUD/USD Discussions / Re: AUD/USD Analysis from ForexMart
« on: April 19, 2017, 03:29:41 PM »
AUD/USD Technical Analysis: April 19, 2017

The Australian dollar against the U.S. dollar declined during the Tuesday session intersecting the 200-day Exponential Moving Average. There is a significant support found below at 0.75 level and a sign of supportive candle pattern indicates buying opportunity. If the price breaks above the shooting star on Monday session, this signals a bullish tone. Hence, it is much favorable to go long for this pair. The gold market could support this pair which is influential for this pair.

The pair broke lower than the 0.7535 support level indicating that the price moves upward from 0.7473 up to 0.7610 zone. This could further go down towards the next testing at 0.7473 support level and a breakdown in the said level will complete the downtrend indicating a continuation from 0.7749 mark towards 0.7300 area.

General Discussion / GBP/USD Fundamental Analysis: April 18, 2017
« on: April 19, 2017, 12:17:45 PM »

   The GBP/USD pair traded on a strong note during yesterday’s session as it was able to not only maintain its gains but has also managed to propel itself forward and attempt to make a dent in the resistance region situated at 1.2600 points. As of the moment it is still unable to make a significant impact in this particular region but it has yet to be seen whether it will be able to make a dent as the European traders are now going back to work after the holidays. A retraction towards the 1.2500 trading range is expected to occur before making any serious gains.

   The sterling pound has been doing really well as the market is now waiting for the start of the Brexit negotiations between the EU and UK officials. The negotiations are expected to be very long and very winding, and both sides should be able to hold onto their respective gains. The Brexit process itself is also expected to affect the sterling pound in the long run. The string of economic data released from the UK economy looks good so far, with the Bank of England managing to hold the current economic situation together, however it remains to be seen whether it will still be able to do so once the negotiations begin. The 1.2600 region is expected to be sustained but as the negotiations wear on, this is expected to induce additional volatility into the pair and this is why traders should be extra careful when it comes to trading with the GBP/USD pair in the medium term outlook.

   There are no major news releases from both the UK and the US economy for today, and as such, the GBP/USD pair is expected to continue its current trend of ranging and consolidation with a bullish undertone as it again tries to break through the 1.2600 range.

General Discussion / Re: Daily Market Analysis from ForexMart
« on: April 18, 2017, 06:12:17 PM »
USD/JPY Fundamental Analysis: April 18, 2017

   The US dollar crashed to its lowest levels within a five-month period against the Japanese yen as a reaction to North Korea-related tensions during the previous weekend. However, as the USD/JPY pair came within a major retracement barrier at 107.856 points, the USD managed to recover its losses and closed down on a much higher level than expected. The USD/JPY pair closed down the previous session at 108.904 points.

   The current volatility level of the USD/JPY pair has been mostly influenced by the price action of the US Treasuries. US bond prices crashed during the previous session immediately after reaching an all-time high since November last year. Now that both the USD/JPY pair and Treasury yields are on their lowest rungs since November 2016, a lot of investors are now speculating that the Trump administration will be unable to complete its campaign promises within the preset timeframe, including the implementation of a new healthcare plan, tax cuts, and even imposing an increased fiscal spending mechanism. In addition, some traders are also saying that the USD was propelled forward by reports that Trump is leaning towards appointing a bank-friendly figure for the Federal Reserve’s vice chair for bank supervision post.

   For today’s session, the course of the USD/JPY pair is expected to be dominated mostly by investor sentiment as well as Treasury yields. The currency pair will be able to regain its momentum only if there is an increase in yields and if investors put their interests towards high-earning assets.

GBP/USD Discussions / Re: Daily GBP/USD Analysis from ForexMart
« on: April 18, 2017, 05:15:51 PM »
GBP/USD Technical Analysis: April 17, 2017

The 1.2500 level halted the sellers activity on Thursday.  The price rebounded the mark during the Asian hours and continued to climb higher. The British currency strengthen overnight and highlighted the area 1.2515 during the first part of the day.

The spot maintained a spot nearly its recent highs within the day. Resistance is at 1.2600 region, support touched the 1.2500 range.

It is much anticipated for a move below the 1.2400 area.

EUR/USD Discussions / Re: Daily EUR/USD Analysis from ForexMart
« on: April 17, 2017, 05:11:02 PM »
EUR/USD Technical Analysis: April 17, 2017

A sell-off occurred last Thursday was followed by the building recovery attempt by the single European currency on Friday. Meanwhile, sellers were unable to cut through below the region 1.0600. In light of this, the price resulted to rebound through the level during the night and trailed northwards amid day trading.

The EURUSD highlighted 1.0625 in the late session of Europe. Resistance entered the area 1.0650  while the support lies at the mark 1.0600.

A fresh bearish pressure is expected in the short-term. A breakout within 1.0600 would direct to its next objective at 1.0550.

Moreover, the major headed through 1.0650 for a correction. A gapped near the region would extend the recovery towards 1.0675. A bounced off hitherto will send back bearishness in the market.

General Discussion / Re: Daily Market Analysis from ForexMart
« on: April 12, 2017, 06:04:52 PM »
EUR/USD Fundamental Analysis: April 12, 2017

The Euro paired against the U.S. dollar climbed higher during Tuesday’s session as it rebounded in the support level near the 1.0580 and broke towards the 1.0600 mark. It is favorable to go long as it extended towards the 1.0630 mark. It seems that the decline in prices has reached its end and is now anticipated to rise leaving the market wondering how high can it go. However, there is not enough momentum to bring the price up since the greenback has recently recovered that brought the pair back to the 1.06 mark.

There has been a lot of happenings involving geopolitical events in the past 24 hours that shook the market causing high volatility in the trend. The tension with North Korea and the situation in Syria where U.S. is trying to take control have been increasing concern day-by-day.

Moreover, Trump is trying to regain its pride and stand in the global economy.

It seems that Trump is losing its foothold as this puts pressure in the dollar but in effect brought the price up for the EUR/USD pair instead. With all his promises such as higher infrastructure spending, lower corporate taxes, improved health care programs, these were not yet achieved and the market is becoming impatient.

For major news today, traders should look out for the U.S. Crude oil inventory data to be released today but would not have much of an effect on the EUR/USD pair. It is foreseen that the pair will most likely react but in a small range due to rising geopolitical problems and associated risks which could persist for some time.

General Discussion / Re: Daily Market Analysis from ForexMart
« on: April 11, 2017, 07:08:00 PM »
GBP/USD Fundamental Analysis: April 11, 2017

   The GBP/USD pair has managed to make a slight recovery during the previous trading session as the USD strength wavered slightly and is now trading at just over 1.2400 points. The strength of this currency pair is not expected to translate into a bullish stance since the pair could possibly persist with its ranging and consolidation action on both sides of 1.2400 points. The market has been very slow during yesterday’s session and this is expected to seep through up to today’s session, especially since the majority of traders are now in a stop and stare mode as they do not have any kind of significant trade bases as of the moment.

   The uncertainties surrounding the Syrian war has somewhat died down since there are no recent updates with regards to the ongoing war in the region. However, there’s no denying that these problems continue to exist and this is why traders are still afraid to direct their trades into any direction lest they be caught once the pair reverses its price action due sudden events such as the US airstrike on Syria last week. The GBP/USD pair is now caught within the range of 1.2100-1.2600 and does not look poised to move in any direction now that the Brexit negotiations are about to begin. The start of the negotiations are not expected to induce significant volatility since both sides are expected to hold their own. This is also the reason why traders are refusing to take specific trade directions for the moment.

   For today’s session, the UK CPI data is scheduled to be released while there are no major releases from the US economy. The GBP/USD pair is expected to stay put no matter how the CPI data pans out within the day.

AUD/USD Discussions / Re: AUD/USD Analysis from ForexMart
« on: April 11, 2017, 02:03:50 PM »
AUD/USD Technical Analysis: April 10, 2017

The Australian dollar became weak on Friday along the sluggish statistics of Performance of Construction Index. Meanwhile, the risk off sentiment amid Asian session have put pressure on risk assets including treasury yields, equities, and the Aussie.

The pair continued to be well offered last Friday and resumed a negative sentiment throughout the day. The AUD leave the region 0.7550 during the night trades extending its bearish impetus within the day.

The sellers were able to reach the 0.7515 mark and rebounded. The major hovered over its session lows until the outset of North American hours.

As indicated in the 4-hour chart, the AUD/USD is positioned under the moving averages which shifted lower. Resistance holds 0.7550, support pierced into 0.7500.

The MACD histogram sustained its level affirming sellers’ strength. RSI indicator is found near the oversold territory which signaled a lover move.

Forecast says the pair would continue to decline within a short period of time. We still expect for a further move towards 0.7500.

EUR/USD Discussions / Re: Daily EUR/USD Analysis from ForexMart
« on: April 10, 2017, 06:53:55 PM »
EUR/USD Technical Analysis: April 10, 2017

The European currency was kept intact below the pressured area against its U.S peer which would likely post further losses. Germany released a mixed data while exports and imports did not meet traders’ expectations. The strong figures of Trade Balance have given support for the EUR. On the other hand, the dovish remarks of ECB President, Draghi place pressure on the major.

The entire perspective showed moderate changes on Friday. The EUR/USD stayed near the neutral spot during the morning session as its trades close to the lower end of its weekly narrow range. Moreover, the sellers came in active in the first part of the day pulling the spot downwards. The major cut through the level 1.0650 touching 1.0630 amid late trading of Europe.
Renewed selling pressure occurred prior the New York open. Sellers were able to direct the price through the points 1.0610-1.0600.

The price settled under the moving averages as registered in the 4-hour chart, 100 and 50-EMAs turned lower while 200-EMA continued to heads up.

Resistance reached 1.0650 area, support highlighted 1.0600 region.

The MACD histogram softened which signaled sellers’ strength. RSI headed southwards confirming a current downtrend.

The spot is expected to resume a bearish tone within a short period of time. A break under 1.0600 is awaited as it may trigger for a lower support.

General Discussion / Re: Daily Market Analysis from ForexMart
« on: April 07, 2017, 05:58:43 PM »
NZD/USD Technical Analysis: April 7, 2017

The New Zealand dollar surged following a break higher than the peak of the hammer during the Thursday session. A strong resistance level is found at 0.70 handle. It is anticipated for the pair to have a volatility and it could increase towards the 0.71 handle when the jobs data comes out and break higher than 0.70 mark. There could also be reversals and the support level to position close to the 0.69 handle. Nevertheless, traders should expect volatility for today’s trading session.

General Discussion / Re: Daily Market Analysis from ForexMart
« on: April 07, 2017, 05:41:35 PM »
GBP/JPY Technical Analysis: April 6, 2017

The British pound against the Japanese yen broke in the upper channel during the Wednesday session which is a sign of consolidation. The market will most likely try to reach the 140 handle but there is a noise down below for a long-term pressure. A break lower than the 50% Fibonacci retracement level gives a bearish bias which would push the trend to fall towards the 134 handle. Overall the pair gives a choppy atmosphere and with trading activity moving fast. With the ongoing Brexit process, this would affect the trading for this pair.

General Discussion / Re: Daily Market Analysis from ForexMart
« on: April 06, 2017, 03:39:11 PM »
USD/CAD Fundamental Analysis: April 5, 2017

   The USD/CAD pair briefly made it towards 1.3400 points and even managed to surpass this region following a series of very dismal economic readings from the Canadian economy. However, the advancement of the Canadian dollar was almost immediately met with tremendous pressure from sellers, causing the CAD to retreat towards 1.3400 points. Analysts are now saying that unless the USD/CAD pair manages to surpass the large-scale selling at 1.3500 points, then the currency pair would be unable to make any significant progress as of now. But the pair’s bulls have yet to reveal how they plan to handle this dilemma in the pair as the USD is expected to be more level in the next few days on the back of an increase in oil prices.

   The 1.3500 region has proven to be very crucial for the USD/CAD pair since the currency pair has been unable to overcome this pair for several times in a row. The currency pair would have to have large-scale buys in order to push past through this region and reach 1.4000 points. As of the moment, the Canadian economy has been throwing up some fairly decent economic data, although the Canadian trade balance data had somewhat paled and could be a precursor to a dismal future for the country’s economy. The trade balance data was at a negative while the market was expecting a positive reading, and this basically means that the country’s imports and exports are most likely to suffer in the long run.

   However, the increase in oil prices could possibly provide a short-term breather for the Canadian economy, and since the USD is expected to experience short-term consolidations, the USD/CAD pair would most likely follow this particular trend and consolidate within 1.3300-1.3500 points. However, the pair is still not strong enough to surpass 1.3500 in the near future.

   For today’s session, there are no releases from the Canadian economy but the US will be releasing several economic readings, such as the ADP employment change data and the FOMC meeting minutes. The NY session could possibly be met by a significant amount of volatility and if the pair’s price touches the 1.3500 range, then this could be a great opportunity for a stop loss.

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