Daily Market Analysis from ForexMart

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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Mon Nov 27, 2017 4:31 am

GBP/USD Fundamental Analysis: November 27, 2017

The British pound is trying to make use of the situation which has been surging in the past few days as the dollar has weakened. This began after the FOMC minutes released a surprising dovish statement that supported the GBP/USD pair and rallies since then. This is yet to be observed if this rally will last.

Most of the traders are ambivalent of this uptrend since this happened due to the U.S. Thanksgiving holiday. After the holiday, a correction was observed given that traders are going back following a long weekend and investors are gaining some profits where it makes the minutes not a dovish sentiment. This could result in buying of the dollars which would further induce correction in trading.

Other than that, Brexit is in a difficult situation right now and if anything happens, a massive breakthrough is anticipated in the talks in the few weeks to come. There are some investors who assume that the U.K. would choose to cancel the deal if they will not benefit from it. If this is the case, then Britain would be on a losing end for the economy. Hence, the pound would most likely continue its rally with the ongoing matter on Brexit.

There is no major news from the U.K. or the U.S anticipated to come out today. Consequently, it is likely to have some consolidation during the first half of the day. There may be some correction for the day when traders go back to the U.S. from their holidays.
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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Tue Nov 28, 2017 11:09 pm

EUR/USD Technical Analysis: November 28, 2017

The EUR/USD was reversed following its rally on Monday. It broke higher than the resistance level reached during the Friday session. Profits and losses switched back and forth for the bonds and gilts in the event that there are not much events in the economic calendar which makes the investors cautious on the next step for the U.S. tax plans. All eyes are focusing on Brexit and Political concerns in Germany where it seems that buying on the lows became natural scenarios as the end of the year approaches. The confidence data that came out from Italy remains very low but was rebounded as it became more appealing on Wednesday along with reports including the U.K. credit data and confidence figure from the Eurozone and German preliminary HICP readings for November.

The euro major pair broke higher than the resistance line but pulled back soon after which led to a much higher high on Monday. The rate is presumed to test the resistance level close to the September high at 1.2092. There is a possibility for a breakdown in the support level at 1.1830 and the 10-day Moving Average at 1.1811. The MACD also shows positive results amid a good momentum as it prints in black with an inclined sloping trajectory which will most likely results in a higher exchange rate. On the other hand, the RSI was reversed following its climb, indicating an improving positive impetus of the pair.


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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Thu Nov 30, 2017 11:16 pm

USD/CAD Technical Analysis: November 29, 2017

The American dollar traded sideways during the trading session on Tuesday, however, moved above the 1.28 handle and slightly broke out on top of that area. Moreover, the market seems to pull back from that level due to the struggle at the recent high. In the past 36 hours was slightly parabolic, which could require a pullback to establish an upward momentum. This market is expected to be greatly influenced by crude oil as the oil industry rolls over a little, and caused the Canadian dollar to drop its value. With this, the market is filled with plenty of volatility which makes it complicated to hover on large positions as expected. Building a position favorable on your side is the most feasible way to advance, while the level below 1.2750 would likely the support based on the previous order flow.

Contrarily, a cut through above the 1.2833 handle will generate a renewed high that could possibly offer the right buying opportunity. The area below 1.27 is projected be very supportive, but a breakdown underneath the 1.2675 region would be very negative which could push the market downwards until the 1.25 handle.

It is possible for the volatility to remain as an issue, considering that the oil sector was uncertain about its views. The high volatility that surrounds the oil market consistently passes through this market. Generally, the upside seems favorable amid it is characterized by a “risk off” move that is somewhat overdue.
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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Mon Dec 04, 2017 10:48 pm

NZD/USD Technical Analysis: December 4, 2017

The kiwi and the greens traded sideways during the onset of the trading session last Friday, however, met decent support around the 0.6815 region to gradually increase. Nevertheless, the announcement made by General Flynn regarding his willingness to work against the White House has pushed the American dollar downwards in general. As expected, this caused wide-ranging impact throughout the world versus the major currencies, as the New Zealand dollar did not make any difference. But the level above 0.69 is resistive which extends through the 0.70 mark eventually.

Upon breaking the 0.70 area, it seems that buying would become interesting and it remains to be seen before obtaining some advantageous type of exhaustive candle. The level below 0.68 has massive support and breaking down that area after a rollover would offer a long-term opportunity to “sell and hold”.

As of this writing, the search for an opportunity to sell the market is ongoing, particularly, those that contain a significant amount of pessimism since the public is highly concerned on New Zealand’s Labour party expenses. Meanwhile, fixing and signing of the tax bill by the US Congress could help the American dollar. The previous rally amid the fluid-based situation would probably end as an overreaction. Moving out from the market and allowing the market to cool off could be the most preferred way to trade alternatively.
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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Wed Dec 06, 2017 4:04 am

EUR/USD Fundamental Analysis: December 6, 2017

The euro major pair declined in the past 24 hours but with unknown reason. The euro has a weak overall trend in the market and there is lesser strength in the dollar. The movement has been movings steadily which was sufficient for the pair to decline lower than yesterday’s trading. It reached the level as low as 1.18 prior to rally as it trades higher than the 1.1820 at the moment.

The market seems to be waiting on the sidelines as traders are observing the movement, particularly of the dollar. The rate hike will happen soon that causes last-minute uncertainty whether this will be pushed through this month. Also, concerns regarding the tax reform bill are also being considered if this will passed by the Senate which could take some time and traders have to wait for the next movement.

Being the last month of the year, traders should be patient whether this will further develop amid holidays. This adds more pressure to traders to be careful in betting large positions and better to be patient before deciding which way to go. As a result, the dollar is now moving steadily as the euro continues to decline at a slower pace since many currency pairs are attempting to maintain within the borders of the trading range that has been known in the past few months.

There is no major news from the eurozone except for the ADP employment report from the U.S. This is prior to the release of the NFP for the week. Pressure will still be present in trading this pair as the market waits for the development of the news.
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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Thu Dec 14, 2017 4:02 am

AUD/USD Technical Analysis: December 13, 2017

The Aussie dollar imposed volatility amid Tuesday’s trading session and reached the higher level at 0.7580. However, it rolled over later that day due to stronger-than-expected results of CPI data in the United States. Meanwhile, the Federal Reserve will have an announcement today which could possibly provide further clarity.

Moreover, the Australian dollar had initially rallied during the course yesterday but seems to have a pessimistic mood due to money flow in the US. A break down from that point might push through the 0.75 support mark which is highly supportive. The market is expected to continue its volatility, but there is a tendency for a break down. A breakdown under the 0.75 mark will drive the market lower to 0.7350 zone, which is a previous support.

Eventually, a rally from that region would largely depend on the Fed Reserve and its sentiment towards the interest rate hike. A hawkish stance could possibly weaken the AUD and the short term. However, it seems that the Fed would be dovish and will push the market to the upside. Nevertheless, the level above 0.7650 is greatly resistive which could make the upside limited. Hence, the Fed may shock the markets that they will no longer raise rates completely.


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