Topic: Daily Market Analysis from ForexMart - page 5. (Read 2161 times)
Andrea's a bot.
EUR/USD Fundamental Analysis: September 22, 2017
The EUR/USD had a mixed performance during the daytime trading on Thursday, showing some choppiness without any hints on how to handle the dollar recovery. It happened after the FOMC meeting in which the Federal Reserve did not exclude chances for a rate increase in December and decided to begin the program to cut balance sheets. These combined announcements enabled to maintain the bid under the greenbacks, however, the trend of the EURUSD pair remained choppy to a certain extent.
Moreover, the single European currency weakened and moved below the 1.19 mark during the morning session, afterward, it started to recover and moved upwards since the US dollar weakened again over other selected currencies. With this, the euro was able to drive higher than the 1.19 level and currently trading in the 1.2950 area which continues to gain strength. It appeared that the pair would retrace its losses in the near term while the dollar bulls still having a tough time to generate strength recovery.
The USD failed to become well-composed in the past couple of days, as it loses its bullish gains. While the EUR successfully recovered due to the discussion about the continuous QE tapering in the market which is very visible to everyone.
In the near term, the euro is expected to remain in the bid as the pair test the range highs at 1.2070. The time for the dollar has not happened yet, therefore, bulls should be willing to wait for strong signals sent by the Fed regarding the rate hike, together with the ECB’s tapering talk and from that, we could expect for a reversal of fortune.
Ultimately, there are no major economic releases for today except the speech of ECB President Mario Draghi which is anticipated during London hours. According to forecasts, Draghi will tackle about the monetary policy while the market is still searching for some insights about tapering, however, the ECB president is known for his inclination not to touch the monetary policy during this kind of meetings. Furthermore, it remains unclear if this will brought an impact towards the euro-dollar pair.
The EUR/USD had a mixed performance during the daytime trading on Thursday, showing some choppiness without any hints on how to handle the dollar recovery. It happened after the FOMC meeting in which the Federal Reserve did not exclude chances for a rate increase in December and decided to begin the program to cut balance sheets. These combined announcements enabled to maintain the bid under the greenbacks, however, the trend of the EURUSD pair remained choppy to a certain extent.
Moreover, the single European currency weakened and moved below the 1.19 mark during the morning session, afterward, it started to recover and moved upwards since the US dollar weakened again over other selected currencies. With this, the euro was able to drive higher than the 1.19 level and currently trading in the 1.2950 area which continues to gain strength. It appeared that the pair would retrace its losses in the near term while the dollar bulls still having a tough time to generate strength recovery.
The USD failed to become well-composed in the past couple of days, as it loses its bullish gains. While the EUR successfully recovered due to the discussion about the continuous QE tapering in the market which is very visible to everyone.
In the near term, the euro is expected to remain in the bid as the pair test the range highs at 1.2070. The time for the dollar has not happened yet, therefore, bulls should be willing to wait for strong signals sent by the Fed regarding the rate hike, together with the ECB’s tapering talk and from that, we could expect for a reversal of fortune.
Ultimately, there are no major economic releases for today except the speech of ECB President Mario Draghi which is anticipated during London hours. According to forecasts, Draghi will tackle about the monetary policy while the market is still searching for some insights about tapering, however, the ECB president is known for his inclination not to touch the monetary policy during this kind of meetings. Furthermore, it remains unclear if this will brought an impact towards the euro-dollar pair.
EUR/USD Technical Analysis: September 21, 2017
The EURUSD trailed downwards during Wednesday's trading session after the release of Federal Research report as the central bank maintained interest rates. Moreover, the Fed Reserve announced that they progress with the quantitative tightening with an amount of 600 billion approximately, which is related to balance sheet reduction every year.
The FOMC also mentioned another rate increase scheduled presumably in December. Among 16 Fed members, there are 11 who voted for a hike this year. According to forecasts made by the officials, it might extend until next year to attain the neutral rate level of Fed funds. The Federal Reserve System gradually approach the issue about the three-time hike in 2019 and 2020 and the long-term rate was lowered down to 2.75%, with the previously 3.0%.
The euro-dollar pair weakened after the dollar made some progress along with the increase of yields. The support lies at 1.1834 region around the lows last week while resistance can be found at 1.2092 level near the previous highs.
The RSI (relative strength index) which functions as a momentum oscillator measuring the performance of the momentum, whether it will accelerate or decelerate. The indicator broke the support which shows an ascending negative momentum. On the other hand, the MACD histogram prints in the red, reflecting a downward trajectory that leads to a lower exchange rate.
The EURUSD trailed downwards during Wednesday's trading session after the release of Federal Research report as the central bank maintained interest rates. Moreover, the Fed Reserve announced that they progress with the quantitative tightening with an amount of 600 billion approximately, which is related to balance sheet reduction every year.
The FOMC also mentioned another rate increase scheduled presumably in December. Among 16 Fed members, there are 11 who voted for a hike this year. According to forecasts made by the officials, it might extend until next year to attain the neutral rate level of Fed funds. The Federal Reserve System gradually approach the issue about the three-time hike in 2019 and 2020 and the long-term rate was lowered down to 2.75%, with the previously 3.0%.
The euro-dollar pair weakened after the dollar made some progress along with the increase of yields. The support lies at 1.1834 region around the lows last week while resistance can be found at 1.2092 level near the previous highs.
The RSI (relative strength index) which functions as a momentum oscillator measuring the performance of the momentum, whether it will accelerate or decelerate. The indicator broke the support which shows an ascending negative momentum. On the other hand, the MACD histogram prints in the red, reflecting a downward trajectory that leads to a lower exchange rate.
Hello forum members!
Good day!
I am Andrea, an official representative of ForexMart.
Me and my colleagues will provide you daily forex analysis on this thread to help you increase your trading efficiency as well as maximizing your profit. Suggestions, comments or opinions are all welcome. We will also be glad to attend to your inquiries.
We hope to hear from you soon!
Thank you!
Best regards,
ForexMart
Andrea, thank you for sharing your analyses. I have one really important question: do you have any kind of metrics that show how often your analyses and predictions point investors in the right direction? I see that your guidance is more general, pointing out technical price patterns rather than making specific price predictions, which is good. But do you know how often those price patterns can be traded for a profit? Good day!
I am Andrea, an official representative of ForexMart.
Me and my colleagues will provide you daily forex analysis on this thread to help you increase your trading efficiency as well as maximizing your profit. Suggestions, comments or opinions are all welcome. We will also be glad to attend to your inquiries.
We hope to hear from you soon!
Thank you!
Best regards,
ForexMart
EUR/USD Technical Analysis: September 20, 2017
The currency pair EUR/USD was able to make some slight improvement during the trading session yesterday, however, the pair resumed the consolidation prior the meeting of the Fed Reserve scheduled on Thursday.
The German Zew Investor confidence had increased which buoyed the euro-dollar pair, but the attention of the traders are centered towards the Federal Reserve. When they mentioned about quantitative tightening during the meeting, it would likely that the U.S. import prices will rise more than 2% year over year.
The EURUSD remained to sit on the 10-day moving average, and continued consolidating before the Fed meeting tomorrow. The pair’s support touched the 1.1834 level around the lows last week. On one side, the resistance entered the 1.2092 region near the highs of the previous week.
Moreover, prices seem to generate a bull flag formation serves a pause that refreshes upwards. The negative momentum is moving downwards while the MACD (moving average convergence divergence) index is printing in the red showing an ascending trajectory that reflects for further consolidation.
The currency pair EUR/USD was able to make some slight improvement during the trading session yesterday, however, the pair resumed the consolidation prior the meeting of the Fed Reserve scheduled on Thursday.
The German Zew Investor confidence had increased which buoyed the euro-dollar pair, but the attention of the traders are centered towards the Federal Reserve. When they mentioned about quantitative tightening during the meeting, it would likely that the U.S. import prices will rise more than 2% year over year.
The EURUSD remained to sit on the 10-day moving average, and continued consolidating before the Fed meeting tomorrow. The pair’s support touched the 1.1834 level around the lows last week. On one side, the resistance entered the 1.2092 region near the highs of the previous week.
Moreover, prices seem to generate a bull flag formation serves a pause that refreshes upwards. The negative momentum is moving downwards while the MACD (moving average convergence divergence) index is printing in the red showing an ascending trajectory that reflects for further consolidation.
What does any of this have to do with bitcoin?
I think on certain exchanges (not 100% sure) you can use bitcoin to participate in forex trading. It's just a way to invest your cash. Since this is the economics/speculation section, it makes sense for OP to be posting speculations on the market. After all, we're all here to make money right?
What does any of this have to do with bitcoin?
I think on certain exchanges (not 100% sure) you can use bitcoin to participate in forex trading. It's just a way to invest your cash. Since this is the economics/speculation section, it makes sense for OP to be posting speculations on the market. After all, we're all here to make money right?
What does any of this have to do with bitcoin?
EUR/USD Technical Analysis: September 19, 2017
The euro-dollar pair remained almost unchanged as it stayed in the level 1.1953 under the 10-day moving average. On the other hand, the inflation came in at 1.5% which is lower the 2% target of the European Central Bank. Now, traders’ attention was turned to the Fed Reserve meeting on September 19 and 20, but there is no any expectations for the meeting. Moreover, the Fed had mentioned some ways in managing the bond purchase program. Contrarily, the Bundesbank assumes that growth will slow down in the second half of the fiscal year.
The EURUSD consolidated prior the meeting of the Federal Reserve which is scheduled tomorrow. The pair’s support hit the 1.1834 mark which is seen around the lows of the previous week. The resistance highlighted the region 1.2092 around the highs last week.
The momentum maintained a negative stance while the MACD (moving average convergence divergence) indicator prints in the red with a descending trajectory, pointing to lower exchange rate.
The euro-dollar pair remained almost unchanged as it stayed in the level 1.1953 under the 10-day moving average. On the other hand, the inflation came in at 1.5% which is lower the 2% target of the European Central Bank. Now, traders’ attention was turned to the Fed Reserve meeting on September 19 and 20, but there is no any expectations for the meeting. Moreover, the Fed had mentioned some ways in managing the bond purchase program. Contrarily, the Bundesbank assumes that growth will slow down in the second half of the fiscal year.
The EURUSD consolidated prior the meeting of the Federal Reserve which is scheduled tomorrow. The pair’s support hit the 1.1834 mark which is seen around the lows of the previous week. The resistance highlighted the region 1.2092 around the highs last week.
The momentum maintained a negative stance while the MACD (moving average convergence divergence) indicator prints in the red with a descending trajectory, pointing to lower exchange rate.
GBP/JPY Technical Analysis: September 15, 2017
The British pound moves sideways during the beginning of the Thursday session. This surged to the upper channel after the Bank of England hinted that there will be interest rate hikes soon.
Hence, the market will most likely proceed with buying on the lows and it may not be wise to short this pair for now. For long-term, the pair will try to reach the 150 handle and above. Selling will be difficult for this pair and the 145-level or lower will continue to support the market which gives a bit of a bullish pressure.
The British pound moves sideways during the beginning of the Thursday session. This surged to the upper channel after the Bank of England hinted that there will be interest rate hikes soon.
Hence, the market will most likely proceed with buying on the lows and it may not be wise to short this pair for now. For long-term, the pair will try to reach the 150 handle and above. Selling will be difficult for this pair and the 145-level or lower will continue to support the market which gives a bit of a bullish pressure.
USD/JPY Technical Analysis: September 14, 2017
The U.S. dollar versus the Japanese yen rallied to the upper channel during the Wednesday session and there is an unabating buying pressure. The discussion on tax reform from the United States further worsens the situation since it came out earlier than expected. On the other hand, this is favorable for the greenback. This makes more U.S. companies more aggressive and in all likelihood boost the U.S. economy. On this condition, it is presumed that buyers will enter the market and attain the level of 111. If the market successfully breaks out, there is a potential for the price to move much higher.
The U.S. dollar versus the Japanese yen rallied to the upper channel during the Wednesday session and there is an unabating buying pressure. The discussion on tax reform from the United States further worsens the situation since it came out earlier than expected. On the other hand, this is favorable for the greenback. This makes more U.S. companies more aggressive and in all likelihood boost the U.S. economy. On this condition, it is presumed that buyers will enter the market and attain the level of 111. If the market successfully breaks out, there is a potential for the price to move much higher.
EUR/USD Technical Analysis: September 13, 2017
European yields increased again together with the stabilization of risk appetite and revival of the global stock market that keeps buoying the EURUSD pair.
Eurozone peripherals had performed better while the European Central Bank assures for a cautious move as it prepares to ease off the stimulator. Meanwhile, the chain store sales of the United States declined after the destructive hurricanes Harvey and Irma that are predicted to put pressure on the national figures for this week.
The German economic ministry anticipates slow growth in the H2, which implies that employment growth might curb sentiment.
The euro-dollar pair formed another Doji day showing the opening and closing level were at the same point reflecting an indecision. The support highlighted the 1.1937 level close to the 10-day moving average. While the resistance came in at 1.2092 near the September peaks.
The momentum is in the neutral position and the MACD (moving average convergence divergence) indicator prints around the zero index level linked with a flat trajectory that shows some consolidation. Moreover, the RSI (relative strength index) known to be a momentum oscillator that assesses the increasing or decreasing momentum. The index prints a reading of 59 in the middle of the neutral range, which also indicates further consolidation.
European yields increased again together with the stabilization of risk appetite and revival of the global stock market that keeps buoying the EURUSD pair.
Eurozone peripherals had performed better while the European Central Bank assures for a cautious move as it prepares to ease off the stimulator. Meanwhile, the chain store sales of the United States declined after the destructive hurricanes Harvey and Irma that are predicted to put pressure on the national figures for this week.
The German economic ministry anticipates slow growth in the H2, which implies that employment growth might curb sentiment.
The euro-dollar pair formed another Doji day showing the opening and closing level were at the same point reflecting an indecision. The support highlighted the 1.1937 level close to the 10-day moving average. While the resistance came in at 1.2092 near the September peaks.
The momentum is in the neutral position and the MACD (moving average convergence divergence) indicator prints around the zero index level linked with a flat trajectory that shows some consolidation. Moreover, the RSI (relative strength index) known to be a momentum oscillator that assesses the increasing or decreasing momentum. The index prints a reading of 59 in the middle of the neutral range, which also indicates further consolidation.
USD/JPY Technical Analysis: September 11, 2017
The U.S. dollar against the Japanese yen had a significant breakdown during the Friday session. Nevertheless, the market proceeds to move downward and a breakdown lower than 108.0 level gives a negative outlook. Hence, this could lead to a further decline and even lower than the 105 level. This gives a very pessimistic outlook and the concept of the Federal Reserve in not raising its interest rates for short-term would persist to have an effect on the market. It is next to monitor the equities which would also influence the next movement of the pair.
The U.S. dollar against the Japanese yen had a significant breakdown during the Friday session. Nevertheless, the market proceeds to move downward and a breakdown lower than 108.0 level gives a negative outlook. Hence, this could lead to a further decline and even lower than the 105 level. This gives a very pessimistic outlook and the concept of the Federal Reserve in not raising its interest rates for short-term would persist to have an effect on the market. It is next to monitor the equities which would also influence the next movement of the pair.
USD/JPY Technical Analysis: September 8, 2017
The US dollar weakened versus the safe-haven Japanese Yen amid Thursday’s session and tested the 108.50 handle. This level appeared to be an interesting area because it is the bottom of the longer-term consolidation. A close under this region of the daily candle will push the market downwards through the next major support hurdle, which is the level of 105 below.
Otherwise, when the market rebounded from that point, then it is possible to return to the 109.50 mark. It will take some time for the market to declare their targets and we are currently at a very significant region on the longer-term charts.
The US dollar weakened versus the safe-haven Japanese Yen amid Thursday’s session and tested the 108.50 handle. This level appeared to be an interesting area because it is the bottom of the longer-term consolidation. A close under this region of the daily candle will push the market downwards through the next major support hurdle, which is the level of 105 below.
Otherwise, when the market rebounded from that point, then it is possible to return to the 109.50 mark. It will take some time for the market to declare their targets and we are currently at a very significant region on the longer-term charts.
USD/JPY Fundamental Analysis: September 7, 2017
The U.S. dollar against the Japan yen was traded lower during the beginning of Wednesday session. Yet, the market has bounced off and almost kept the rate as it reached low levels at 108.441. For the week, the trading situation gives a similar outlook after the missile launch by North Korea over Japan.
The USD/JPY pair was seen positioning at 108.724 and declined by 0.078 or -0.07% at 10.21 GMT. The USD/JPY pair closed the session at 0.884 down by -0.81% on Tuesday.
The Forex pair dropped with the current tension with North Korea as well as the rhetorics from Fed speakers. Traders are getting anxious prior to the monetary policy decision of the European Central Bank on Thursday.
Investors keep on reacting to the happenings in the North Korea and the price movement of the safe haven assets. Moreover, the stock market compellingly suggests that traders are concerned with the minimal progress towards the lowering the threat of a nuclear war.
Traders have been anxious with the issue on North Korea especially since the next nuclear test will happen on Sunday. Across the globe, this act was being contradicted as the price movement in the stock market where more investors are being disappointed since there is lack of progress in controlling the situation.
The USD/JPY pair will most likely continue trading with the influence of the U.S. Treasury yields and opinion of investors. The price action of the U.S. Treasury yields which is supported by the economic data and Fed speakers. Reactions of investors are influenced by the geopolitical events about North Korea.
Some minor U.S. data such as Trade Balance, Final Services PMI and the Fed Beige Book and the major report on the ISM Non-Manufacturing PMI will be released on Wednesday. The anticipated figure will be 55.8 and increased from 53.9.
The whole report may not be that relevant and move the pair. Also, the investors will center its attention on North Korea since this is unpredictable. Fears of uncertainty are reflected for the first time with investors who are taking off setting positions in the stock a market and place the money in safe haven assets. Traders should monitor for another stock sell-off for today.
The U.S. dollar against the Japan yen was traded lower during the beginning of Wednesday session. Yet, the market has bounced off and almost kept the rate as it reached low levels at 108.441. For the week, the trading situation gives a similar outlook after the missile launch by North Korea over Japan.
The USD/JPY pair was seen positioning at 108.724 and declined by 0.078 or -0.07% at 10.21 GMT. The USD/JPY pair closed the session at 0.884 down by -0.81% on Tuesday.
The Forex pair dropped with the current tension with North Korea as well as the rhetorics from Fed speakers. Traders are getting anxious prior to the monetary policy decision of the European Central Bank on Thursday.
Investors keep on reacting to the happenings in the North Korea and the price movement of the safe haven assets. Moreover, the stock market compellingly suggests that traders are concerned with the minimal progress towards the lowering the threat of a nuclear war.
Traders have been anxious with the issue on North Korea especially since the next nuclear test will happen on Sunday. Across the globe, this act was being contradicted as the price movement in the stock market where more investors are being disappointed since there is lack of progress in controlling the situation.
The USD/JPY pair will most likely continue trading with the influence of the U.S. Treasury yields and opinion of investors. The price action of the U.S. Treasury yields which is supported by the economic data and Fed speakers. Reactions of investors are influenced by the geopolitical events about North Korea.
Some minor U.S. data such as Trade Balance, Final Services PMI and the Fed Beige Book and the major report on the ISM Non-Manufacturing PMI will be released on Wednesday. The anticipated figure will be 55.8 and increased from 53.9.
The whole report may not be that relevant and move the pair. Also, the investors will center its attention on North Korea since this is unpredictable. Fears of uncertainty are reflected for the first time with investors who are taking off setting positions in the stock a market and place the money in safe haven assets. Traders should monitor for another stock sell-off for today.
good thing that there's a group here which also willing to share their knowledge about forex though I'm not really into it and I don't have any concrete
foundation to this type of investment I'm always open for some new adventure and I'm willing to learn how the market go. hope you and your team
will continue sharing your knowledge and for us also to take advantage of this information. more luck guys..
foundation to this type of investment I'm always open for some new adventure and I'm willing to learn how the market go. hope you and your team
will continue sharing your knowledge and for us also to take advantage of this information. more luck guys..
GBP/USD Fundamental Analysis: September 6, 2017
The British pound soared to 1.30 and labeled as the strongest currency for the day during Tuesday session. Currently, it moves to the highs of the range in the 1.3030 region and put a risk for a breakout. It seems to be not performing well in the past whole week but this was supported by the expected data from the U.K. and the weakened dollar which has assisted the recovery of the GBP/USD pair.
The center of attention has been the U.S. dollar majority of the day since the U.S. market opened after the long weekend as well as rhetorics from various speakers of the Federal Reserve. The market anticipates what will happen to the U.S. economy and when will be the next rate hike. It seems that they do not really think about it. It is mainly dovish on both issues but this did not appeal to investors which resulted in another round of selling the greenback.
In turn, this has supported the GBP/USD pair to ascend towards 1.3000 level and the 1.3030 is now an important resistance region. If it successfully breaks through the said region in a clean manner, the pair is anticipated to move towards 1.3250 region for short term. Yet, there is a possibility for this to happen when the dollar further weakened.
There is no major economic news from the U.K. for this day. The dollar will once again be the center of attention and if the market can recover for short-term. It seems that the dollar index is at a crucial stage where it could decline or bounce up from this point. It is ideal for traders to be careful and determine its next move whether it will go down or up prior to placing orders.
The British pound soared to 1.30 and labeled as the strongest currency for the day during Tuesday session. Currently, it moves to the highs of the range in the 1.3030 region and put a risk for a breakout. It seems to be not performing well in the past whole week but this was supported by the expected data from the U.K. and the weakened dollar which has assisted the recovery of the GBP/USD pair.
The center of attention has been the U.S. dollar majority of the day since the U.S. market opened after the long weekend as well as rhetorics from various speakers of the Federal Reserve. The market anticipates what will happen to the U.S. economy and when will be the next rate hike. It seems that they do not really think about it. It is mainly dovish on both issues but this did not appeal to investors which resulted in another round of selling the greenback.
In turn, this has supported the GBP/USD pair to ascend towards 1.3000 level and the 1.3030 is now an important resistance region. If it successfully breaks through the said region in a clean manner, the pair is anticipated to move towards 1.3250 region for short term. Yet, there is a possibility for this to happen when the dollar further weakened.
There is no major economic news from the U.K. for this day. The dollar will once again be the center of attention and if the market can recover for short-term. It seems that the dollar index is at a crucial stage where it could decline or bounce up from this point. It is ideal for traders to be careful and determine its next move whether it will go down or up prior to placing orders.
Primarily, the sterling moved sideways on Monday, however, drove downwards to find some support and in order to make a rebound. The United States is currently in a holiday to celebrate the Labor Day, hence, the trading volume will be heightened during the European session.
Moreover, the market is having some conflicting pressure while players lack confidence about the possible increase of the Fed interest rates for this year. However, there are various concerns regarding the British exit from the European Union.
It is possible that the market will continue its choppiness which suggests to better trade in small positions. We should search for some pullback while the market should push lower touching the 1.2850 in the longer term. The 1.30 region appeared to be really resistive but when the 1.3050 area will be broken, buyers would likely take the driver’s seat once again.
It is expected that the market will keep on having some noise, but there is also a possibility that the market is seeking for clarity which is hard to look for because of the increasing noise in the markets.
It should be noted that the liquidity will not raise until the following week, considering that majority of the traders are not present due to the holiday.
Hello forum members!
Good day!
I am Andrea, an official representative of ForexMart.
Me and my colleagues will provide you daily forex analysis on this thread to help you increase your trading efficiency as well as maximizing your profit. Suggestions, comments or opinions are all welcome. We will also be glad to attend to your inquiries.
We hope to hear from you soon!
Thank you!
Best regards,
ForexMart
Good day!
I am Andrea, an official representative of ForexMart.
Me and my colleagues will provide you daily forex analysis on this thread to help you increase your trading efficiency as well as maximizing your profit. Suggestions, comments or opinions are all welcome. We will also be glad to attend to your inquiries.
We hope to hear from you soon!
Thank you!
Best regards,
ForexMart
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