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USD/JPY Technical Analysis: January 18. 2017

Postby Andrea ForexMart » Thu Jan 19, 2017 4:35 am

The JPY increased significantly in value against the USD after the majority of investors fled the USD after Donald Trump expressed his concerns that the US dollar might be becoming too strong for the US economy to handle. The US 10-year Treasury Yields plummeted to 2.307% during the early hours of yesterday’s trading session, possibly its lowest intraday levels since November 2016. This has then lended support for the bears of the USD/JPY pair after the currency pair traded at the lower regions of 112.67 points before making a slight recovery.

However, there came a slew of negative US data, such as the New York Empire State Manufacturing Index, which dropped to 6.5% from its previous reading of 9.0%. This reading is indicative of slower business growth in the region for this month. Since the USD/JPY was able to extend over 114.00 points, the currency pair is more than ready to extend sideways. The pair’s 4-hour chart shows that its momentum indicator retains its bearish stance and is still within the negative side of the chart, while RSI indicators for the currency pair are pointing to the downside. The 100 SMA for the USD/JPY pair has also lowered significantly.

Support levels for the USD/JPY are expected to manifest at the 112.65 points, while resistance levels could possibly appear once the pair hits 113.35 points.

USDJPY18.png
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AUD/USD Technical Analysis: January 19, 2017

Postby Andrea ForexMart » Thu Jan 19, 2017 5:31 am

The Australian Dollar presented some optimism compared with its U.S peer that receives support from the dynamic pricing of oil. The awaited data from the labour market is deemed to support the Aussie at the same time.

The tone of the market remains to be positive. The AUD/USD is confined on its 2-week highs near the 0.7550 level. The price hovered around a very tight range and tends to go into a lower position. The 4-hour chart showed the spot stick on top of the moving averages. The 100 and 50-EMAs preserved its bullish tone while 200-EMA is flat. Resistance hit 0.7550 mark, support is found at 0.7500 range.

MACD lied in the same level which confirmed buyer’s strength once again. The RSI is currently on the consolidation period and entered the overvalued zone.

Forecasts mentioned for a further short-term downward correction. In case the closing trades are set under 0.7750, the price will impose a sell signal. The possible target of the bears is 0.7500.
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GBP/USD Technical Analysis: January 19, 2017

Postby Andrea ForexMart » Thu Jan 19, 2017 6:31 am

Hard Brexit issues continued to affect the cable pair. The British currency weakened in spite of the upbeat in the labor market data as the unemployment stat maintained its rate and Claimant Count Change rose.

The sterling is in the red versus its American rival on Wednesday. The GBP/USD climb the edge of the overbought area and pointed downwards amid Asian hours. Sellers take out the 1.2400 level during the morning trades and tested the mark 1.2300 in the EU session. However, the mark stalled the progress of sellers. Having touched the level, the price reduced and stayed on top of the region prior to the onset of NY trading.

According to the 4-hour chart, spot bounced off to 200-EMA. The entire moving averages moved downwards. Resistance highlighted 1.2400 region, support entered 1.2300 area.
The MACD slowed down which favored seller’s strength. RSI kept intact in the overbought zone.

Moreover, the 4-hour chart showed a prevailing bearish tone.The primary target 1.2200 showed some signs as it will be going short followed by the consolidation phase, the pair is expected to move ahead through 1.2100 handle.

GBPUSD19.png
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EUR/USD Technical Analysis: January 19, 2017

Postby Andrea ForexMart » Fri Jan 20, 2017 1:24 am

The American dollar was able to rub out its losses versus the euro prior to the speech of Yellen yesterday. The greens further acquired some support from the consumer price index of U.S which met the expectations of investors. Moreover, the decision of the ECB about its interest rate will be announced later this day.

The market structure remained to be bullish on Wednesday. The single European currency executed an upside impulse and return from its weekly high towards 1.0716.
The ongoing rebound is deemed to be corrective during the profit-taking behind the current rally. The EUR/USD retreated under the 1.0700 level amid morning trades on Wednesday and it hovered throughout the level as the EU session took place.

The 4-hour chart shows the price resumed its advancement on top of the moving averages. The 100 and 50-EMAs continued to be bullish while 200-EMA stayed on the neutral position shown in the same time chart. Resistance sits at 1.0700, support lies at 1.0650 region.
The MACD histogram falls which indicate weak position of the buyers. The RSI oscillator kept around the overvalued territory.

The pair is expected to moved near the immediate support 1.0650. In case the level breaks, the support will return to 1.0600. However, the EUR will receive short-term support as much as 1.0500 remained intact.
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USD/CAD Fundamental Analysis: January 19, 2017

Postby Andrea ForexMart » Fri Jan 20, 2017 2:09 am

The USD/CAD pair was previously situated in a very critical support region and has reverted in the region just below 1.3000 points. The Bank of Canada has already released its statement regarding the central bank’s rates, and the bank also held a press conference later in the day. The pair’s strong bounce was seen as the US dollar and the Canadian dollar went in highly opposite directions during the previous trading session.

The USD had already regained its lost strength and has exhibited positive activity across the board after Yellen announced that the Fed could possibly go for more rate hikes in the future if the economic data from the US continues to be positive. On the other hand, the Bank of Canada announced that it will be making no changes on its current interest rates. However, the succeeding press conference from BoC’s Poloz has made it clear to investors that the Canadian economy has not shown any progress and has instead stayed in the same place. Moreover, Poloze expressed his sentiments regarding a possible trade war under the Trump administration, and this has adversely affected the CAD and has caused the USD/CAD pair to revert back from the 1.3000 trading range and was able to shot up through 1.3100 and even through 1.3200 where it currently sits above as of present time.

Market players are expecting that the USD/CAD pair might be in for a strong uptrend and could possibly reach 1.4000 points. For today’s trading session, Canada will be releasing its Manufacturing Sales data, while US will be releasing its oil inventory data as well as the Unemployment claims data. These are expected to induce volatility in the pair. However, it is highly likely that the USD/CAD pair will be in for an uptrend in the long run.

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USD/ CAD Technical Analysis: January 23, 2017

Postby Andrea ForexMart » Tue Jan 24, 2017 12:29 am

The USD/CAD pair traded with a bullish tone on Friday. The uptrend reached the 1.3330 level in the beginning of the trading session. Later that day, the buyers were able to surpass the level as it persists to move higher in the mid-European trading session. Yet, it was not able to reach the 1.3400 level as the price withdraw back to 1.3330 losing its momentum during the New York trading session.

The Resistance level is seen at 1.3400 while the support level comes in at 1.3330 level. The Moving Averages broke in the upper channel and the price managed to linger higher for the day as the 20-EMA moves upward. On the other hand, the 100-EMA is moving lower while the 200-EMA moves in a neutral chart. Overall, the MACD histogram implies the buyers leading the market. Moving with it, the RSI was set within the overvalued readings where a new high is still possible.

Both the Retail sales and Consumer Price Index Reports did not meet the expectations of investors. Nevertheless, this has minimal effect to the currency but it is still under pressure despite the strong greenback.

The pair maintained its upward direction from 1.3018 level following the consolidation state of the uptrend at 1.3387 level. A close higher than the 1.3330 level may set it in motion to move towards 1.3400 level and if the pair strongly sets at 1.3400, this indicates the continues uptrend. However, if the market fails to break higher than the 1.3400 level, this would mean a negative outlook to the market.

Overall, the price trend remains bullish ranging from 1.3240 level to 1.3387 level until the next days to come but if the sellers dominate the market, this could move the price towards the 1.3190 mark instead. If the market is able to maintain the current support level at 1.3240 level, the market could anticipate a continuous uptrend with the next target at 1.3500 level.
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USD/JPY Technical Analysis: January 23, 2017

Postby Andrea ForexMart » Tue Jan 24, 2017 1:50 am

Subsequent to the speech made by Janet Yellen, the US dollar abated. But the greens reversed few of its losses on Friday on the back of the inauguration speech of Donald Trump.
The greenbacks attempted to reach 115.00 barrier amid Asian hours. The bulls pushed the level prior to the onset of the EU trading. The price was unable to maintain its upward impetus and turn back through 115.00 eventually.

The 4-hour chart indicates that the price rebounded to the 50-EMA during the Asian session and it further moved between the 50 and 100-EMAs in the Euro hours. The 100 and 50-EMAs employ a downward trend while 200-EMA was confined in the flat lining. Resistance touched the 116.00 level, support hit 115.00 area.

The MACD histogram arrived in the positive zone and if it hovered on its position, the buyers will strengthened. RSI stayed around the overvalued territory.

The general outlook for the pair remained to be bullish as it rack up through the resistance region 116.00.

The USD/JPY could fail and return to the downside in case the 115.00 handle were unable to support the bullish investors.

USDJPY23.png
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EUR/USD Fundamental Analysis: January 23, 2017

Postby Andrea ForexMart » Tue Jan 24, 2017 5:10 am

The EUR/USD increased for the past few days following the sluggish stance of the greenbacks. The single European dollar benefited from the position of the greens as it climbs to 1.0700 and further extended its gains. The USD weakened with no definite reason as others deemed for the general correction while some claimed it’s all because of the skepticism for Trump’s administration. However, the American currency is clearly at a disadvantage point against the euro.

The EUR is relatively buoyant for the previous week, much more when its U.S peer manifested some strength. The euro continued to bounce back from a limited correction and eventually broke the 1.0700 level, en route 1.0840 region.

There are some issues that the weakness are caused by the speech of Trump coupled with the curtailment for the rest of Obamacare. Moreover, there exist a general risk about the US President’s team and their plans and these uncertainties weighed on the USD.

As the last week of January enters, the economic news is lessened while the upcoming is a beginning for the USD towards an unidentified state which brings higher volatility.

The US and Euroregion do not have major reports to be released for today, what we expect is the continuous fall of the greens.
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GBP/USD Fundamental Analysis: January 24, 2017

Postby Andrea ForexMart » Tue Jan 24, 2017 6:38 am

Today’s trading session is expected to be very critical for the GBP/USD pair since UK is now awaiting for the release of the country’s SC ruling with regards to its eurozone membership, as well as the Brexit process, which is set to be released during today’s session. The GBP/USD pair has increased in value over the past 24 hours as part of market anticipation, with the currency pair closing yesterday’s session at over 1.2500 points after months of being unable to go over 1.2500 due to repeated pummeling from bears of the said currency. However, since yesterday was a generally good day for the sterling pound, the market is expecting that this currency pair would be able to reach 1.2700 or even 1.2800 in the short-term outlook for the GBP/USD pair.

The UK Supreme Court will be releasing its decision on whether the Article 50 will have to undergo scrutiny from the Parliament or otherwise, since the Article 50 is an essential factor on the carrying out of the Brexit process. The market is generally anticipating that the SC will be approving the Article 50 invocation, and if this does happen, then this will ensure that the whole of the Brexit process will be well-thought of, and this will ensure that equal distribution of ideas instead of the power becoming limited to select people in the government. This is expected to drive up the value of the GBP, but then there are also some risks that the Parliament approval might cause delays in the Brexit process since all views and ideas must be taken into consideration as part of the process.

There are no major news releases from the UK except for the SC ruling for the Brexit process, as well as from the US.

GBPUSD24.png
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USD/CAD Fundamental Analysis: January 24, 2017

Postby Andrea ForexMart » Wed Jan 25, 2017 6:47 am

The USD/CAD pair continues to trade within a tight range and consolidated for the most part of yesterday’s trading sessions. The CAD was recently subject to an increased pressure after the Bank of Canada expressed it plans to implement an interest rate cut in the next few months as a result of the Canadian economy becoming increasingly stagnant after not showing much development in the recent economic readings. This added pressure in the CAD has however helped in offsetting the dollar weakness during the past few days.

The Canadian dollar is probably the only currency which the USD has gained in relation during the past few sessions and has continued to maintain its gains over this currency, while other major currencies have increased in value and has left the dollar behind. The US dollar has been in hot water recently, especially since the market is generally uncertain on Trump’s administration policies and how the newly-minted president plans to run the US economy. The market is constantly kept on its toes as Trump continues to act brash in spite of the initial euphoria during the US elections, where the market had hoped that Trump’s election might be generally be good news for businesses around the world. However, the current administration might have to undergo a lot of work before finally regaining the market’s confidence.

There are no major news releases from both the Canadian and the US economy, and as such, the USD/CAD pair is expected to experience more consolidation and ranging during today’s session. Since the weakness of both currencies are apparently cancelling each other out, the currency pair is unable to make any significant progress and the bulls might have a hard time pushing the currency pair towards 1.3400 points and higher.
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