Daily Market Analysis from ForexMart

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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Wed Dec 27, 2017 1:53 am

EUR/USD Fundamental Analysis: December 26, 2017

The euro against the U.S. dollar started with a tight trading week in a facile environment in consideration of the current market situation. Majority of traders are on a vacation this Christmas holiday season and the New Year whereas most of them would not working. This would result to lower volatility and liquidity that would limit the range of trading for this week.

There is also not much economic data on the calendar with fewer fundamentals in the next days to come. The steady dollar was supported by the tax reform bill, which was recently passed by the Senate and signed by the U.S. President. This would benefit m0st of the companies with lots of tax benefits which is as much as important to Trump and his team. At the same time, this is foreseen to improve the labor market and boost the economy in the succeeding years.

Hence, the dollar gained a short-term boost from the bill which will most likely be in effect for this week. The euro is being traded in a right range with minor consolidation in the past few months. Although, the fundamental new was not enough to successfully break the trading range.
It is yet to be discovered where the trend will range and if it is sufficient to sustain the pair within its range until January.

For today, there is not much economic news that is anticipated to be released from the eurozone or from the U.S. It is holidays in most part of Europe, which could result to tight trading range and consolidation throughout the day.


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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Thu Dec 28, 2017 1:09 am

GBP/USD Fundamental Analysis: December 27, 2017

It was a holiday in the majority of the places in Europe, including the U.K. that makes it not surprising if the pound persisted to consolidate and traded within a tight range for the most part of trading yesterday. The GBP/USD pair falls within a tight range since there is few major economic news.

It will not be surprising to have lesser volatility and liquidity this holiday season. At the same time, there is not much placing of trades and more on profit-taking in the past week, which can be seen mostly in the smaller market such as bitcoin. Although, it was not that obvious for pound despite there is a bigger market that is why grabbing the opportunity of any selling of this pair prior to holidays is relevant.

Come the second week of January, both liquidity and volatility will most likely gain momentum. Until then, traders should get ready for choppiness within a range near the end of the year. The market has reopened following a long weekend yet, there is still fewer traders this week since most still wanted to extend their vacation until New Year. Hence, consolidation of the pair within a tight range will persist in the next few days.

When it comes to data the Conference board’s Consumer confidence data from the U.S. is anticipated to be released today but this would not bring much volatility in the market. There is no major economic news from the U.K. Thus, there will be low trading and slow movement in the market for the rest of the day.


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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Fri Dec 29, 2017 1:30 am

GBP/USD Fundamental Analysis: December 28, 2017

The British pound against the U.S. dollar climbs higher in the past 24 hours due to the weakness of the dollar that boosts other currencies against the dollar. This is presumed to persist for short-term with the incoming long weekend as the New Year approaches which would cause a dull trading in the market. Continue reading at https://goo.gl/jwfU5K


USD/JPY Technical Analysis: December 28, 2017

It is suggested that the American should resume its rally versus the Japanese yen within a specified time and also in case of the bullish sentiment by stock markets. This usually pushes the markets towards a higher position. The USD/JPY and the S&P 500 had a special correlation which should be kept in mind. Continue reading at https://goo.gl/GGc2V6

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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Mon Jan 08, 2018 2:45 am

NZD/USD Technical Analysis: January 8, 2018

The New Zealand dollar was able to break higher upon the opening session on Monday, however, took a reversal throughout the week to move lower and fill the gap. In line with this, a sufficient support was seen and bounced to the upside. The day closed with a slight formation of a hammer pattern, which implies that buyers will return to the market.

It is possible that the Kiwi dollar will resume driving near the top of the overall consolidation zone, marked on the chart around 0.75 area. The 0.68 region below is considered highly supportive and basically the “floor” in the NZD/USD pair.

It remains to be seen prior shorting this market despite the noticeable breakdown underneath the bottom of the hammer for the week appears to be negative. But 0.70 level seems to be supportive which requires some time before taking long positions.

In case that commodity markets would rally in general, the upward trend would likely to continue. However, the current situation is slightly overbought which could possibly be followed by a pullback that should only offer value going forward. This is because the American currency was very weak versus other currencies. The market remains to have plenty of noise but a significant amount of bullish pressure is expected in order to continue moving forward. The highs will be tested again and will eventually break out.


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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Wed Jan 10, 2018 12:49 am

GBP/USD Fundamental Analysis: January 9, 2018

The GBP/USD pair trades around a tight range yesterday considering the fact that consolidation period is already expected in the markets. The US dollar remained unchanged, as it traded initially for the week, the course showed mainly about trade positioning and the price action was monitored by the market participants which limits market’s actions.

The British economy is predicted to recover if the Brexit process will flow according to the plan. The economic data issued from the United Kingdom last week was choppy and should be regarded as an indication for negotiators about the importance of Brexit talks to go as planned r else it might bring adverse effect for the UK economy. This was avoided almost be everyone since uncertain UK economy is far from the goal of international leaders. With this, the leaders of Euro and the UK will be responsible for this and should outline some good trade agreement for both sides.

On the other hand, the United States are waiting for the incoming data because the figures sent last week was choppy and obscure. The market expects for a three-time rate hike this 2018, however, the new Fed Chair Jerome Powell will take over in February and it remains uncertain about his plans and the way he works. Hence, this could lead to some risks for the dollar and the American economy as well. The Federal Reserve and the upcoming data should coincide in order to drive away this concept, resulting in stability for the dollar which is essential for the world economy.

Generally, there are no fundamentals or economic data from the UK or the US for today but the ranging between the levels of 1.35 and 1.36 should resume in order to engage more participants, particularly the day traders.


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Re: Daily Market Analysis from ForexMart

Postby Andrea ForexMart » Thu Jan 11, 2018 1:58 am

NZD/USD Technical Analysis: January 10, 2018

During the trading course on Tuesday, the New Zealand dollar appears to be choppy and mainly negative. The marketplace is characterized as wrist sensitive because the NZ dollar is generally influenced by “risk appetite” and commodity markets. Aside from that, there exist a dollar bias that further leads the market.

The 0.7150 mark looks like offering some kind of support for the NZD/USD currency pair, which appeared to be really strong lately. But the markets are consolidating which means that pullbacks are expected to attempt establishing momentum in order to resume the move to the upside. The longer-term charts imply consolidation between the 0.68 region on the bottom and 0.75 level above, which caused the market to resume further consolidation but the situation is regarded to be larger and longer term.

There is a tendency for the market to continue buying on the dips due to inability to reach the top of the consolidation zone after the rebound from the bottom. The Kiwi dollar would likely be slightly oversold, therefore, it is acceptable for some recovery and normality. Upon the breakdown, a significant support at the 0.71 handle should be expected which is previously a significant resistances and accompanied by a large gap since the past few weeks. Most likely, the American currency will continue to lose it strength.


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