Daily Market Analysis from ForexMart

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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Thu Sep 07, 2017 3:32 am

EUR/USD Fundamental Analysis: September 7, 2017

As the week begins, the EUR/USD was seen consolidating and trading in a tight range which continues in the past 24 hours. But it is possible to change its course after the next 24 hours since the markets will draw their attention towards the single European currency, also with the plan of the European Central Bank in the near term.

The euro-dollar pair hovered at the level of 1.19 in the following day, however, there are no hints of any specific trend. Generally, markets appeared to be in a consolidation mode because traders and investors are waiting for the situation to become normal and calm again.

The tension and global risks remain high as the market somewhat predicts for an approaching attack from the Democratic People's Republic of Korea. With this, the dollar weighed down with a lot of pressure since Monday.

However, the focus for this day could possibly be in the euro due to the announcement made by the ECB about interest rates which is followed by a press conference. The central bank planned to maintain the rates steady and this is what M. Draghi expected to say during the press con. Hence, this will determine the direction of the EUR in the short term.

The ECB is now very cautious about the strengthening of the euro as the bank failed to reverse or change the fundamentals and planning to put euro in a bid in order to limit the currency’s strength. If Draghi did not do so, then it is expected the EUR/USD will move under the 1.19 handle and drove near 1.18 in the near term. Otherwise, the pair will return to its highs at 1.2070 again.

Ultimately, there are no major releases from the United States or from the euro region. Therefore, the focus will turn to the developments in Korea, as well as to the ECB.
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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Wed Sep 13, 2017 3:42 am

USD/JPY Technical Analysis: September 13, 2017

The U.S. dollar moved sideways at the beginning of Tuesday session. Soon after, the pair rallied much higher. Currently, the level of 110 is being tested but there is still a gap that could raise some concerns. Nevertheless, this gap has been filled. However, traders should still be careful since there is a sign of “overbought” in the market. A pullback could happen after some time since the market is sensitive enough to react suddenly before going forward. Consequently, a breakout occurred at 110.25 level and the price will most likely move forward towards 111 level.
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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Tue Sep 19, 2017 5:30 am

GBP/USD Fundamental Analysis: September 19, 2017

The trading has been sluggish but the pound still remains to be the tops in the volatility as it continues to move the market in the past 24 hours. Yesterday, the only major news was the speech of Carney and the market anticipates a hawkish decision which further boosts the GBP/USD pair during the first half of the day. However, it declined later on.

Although Carney has mentioned monetary tightening, the Bank of England still needs to take manage the economy. Yet, there are no specific dates which frustrate the market as the British currency dropped after the speech and move lower than 1.35 for the day. A rebound occurred overnight and traded higher than 1.35 although this could just be a form of a correction in a bigger uptrend that could still change.

Considering the upcoming data and the recent developments in the U.K., it is possible for the BOE not to give attention to the economy and the central bank will most likely react but only in the succeeding months. The BOE already said that they will have a reaction amid the uncertainty with the ongoing Brexit. These would result in a rate hike in the upcoming months. Both the central bank and the market are anticipating for the Brexit uncertainty would wear off in the next few months which hasten the decision of the bank.

Today, there is no major news from the U.K. or from the U.S. Hence, consolidation is already anticipated ranges between 1.35 and 1.36 for the day as the market manages ahead of the FOMC meeting tomorrow. The bullishness is presumed to persist for the GBP/USD pair for short-term and target for 1.38 and 1.39 levels.
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