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Post by luisforexmart on Jun 20, 2016 6:36:54 GMT -5
Technical Analysis for GBP/USD: June 20, 2016
The pound is keeping its strength against most of its counterparts as it enters the week of the EU referendum. Bulls are protecting the sterling as buying interest continue to increase. GBP/USD has broken through 1.46 cents and has shown no solid sign of a downtrend.
The pair surpassed numerous resistance but bottomed at 1.4359 today. It then reached a high of 1.4672. The spot exchange is now at 1.4626, and can break into 1.47 levels in the near term with a switch in public sentiment. Polls show that voters are shifting their support towards the “Remain” campaign.
The MACD indicator is in neutral location and we are expecting further price increase as bears fail to take the pair.
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Post by luisforexmart on Jun 21, 2016 6:15:58 GMT -5
Technical Analysis for AUD/USD: June 21, 2016 The Aussie dollar is benefiting from a volatile sterling and euro as investors seek a safe heaven in the AUD. The RBA meeting minutes headlined the impetus this week. The Board implied the importance of a weak domestic currency to support Q2 and Q3’s GDP growth. However, the minutes did not have a significant impact on the AUD/USD. Australia’s house price index printed surprising numbers, declining by 0.2 percent in the first quarter of the year compared to the previous quarter’s 0.2 percent growth. Analysts expected a 0.8 percent rise in Q1. Although AUD/USD is trading at 0.7487, the upsurge is limited due to easing commodity prices. The USD has been fairly quiet and is waiting for Yellen’s statement later on the semi-annual monetary policy report. The first support can be found at 0.7454 and 0.7413 subsequently. The first resistance is at 0.7500 and 0.7550. The MACD indicator is positive location and the price is rising. However we are not expecting the AUD to break into the 0.75 level anytime today.
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Post by luisforexmart on Jun 22, 2016 6:50:33 GMT -5
Technical Analysis for GBP/USD: June 22, 2016 The British pound is holding its breath at 1.4683 for the release of the last set of polls leading to the EU referendum tomorrow. Recent surveys have been leaning towards remaining in the EU, gaining the GBP buying interest still evident today. GBP/USD reached 1.4715 today but fell back to 1.46 cents due to the still-looming uncertainty. A neutral outlook is still in position until it sustains the 1.47 line. Its US counterpart is unlikely to firm due to a dovish Yellen and a fading interest hike in July. The first support occurs at 1.4634 and 1.4590 while first resistance is at 1.4703 and 1.4766. The MACD indicator is in positive location. The price is rising.
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Post by luisforexmart on Jun 22, 2016 6:58:49 GMT -5
Fundamental Analysis for EUR/USD: June 22, 2016 EUR/USD was hit with profit-taking and a warning from ECB president Mario Draghi that another stimulus is on the way. The euro retreated to 1.12 cents after reaching 1.13 in the past days due to a firming ‘Bremain’ public sentiment. The pair is trading at 1.1272. Draghi said that more stimulus is on the way as the ECB sees inflation rate missing the 2 percent target until 2018. Inflation is predicted to reach 1.3 percent in 2017 and 1.6 percent in 2018. On the data front, Germany’s ZEW Economic Sentiment for June was at 19.2, largely exceeding the predicted 4.7 increase. The country’s current conditions grew to 54.5 from 53.1 in May, while the Eurozone’s economic sentiment was up to 20.2, surpassing the 15.3 expected rate. The USD is also taking a beating from Yellen’s statement that shows Fed’s worry over the labor market. The Fed chairwoman effectively reduced the possibility of a rate hike in its next monetary meeting in July. EUR/USD is still on the bullish side but a drop below the immediate support of 1.1240 will move it to a neutral position, with the next support at 1.1213. The first resistance is at 1.1291 and 1.1350 subsequently. The MACD indicator is in a positive location.
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Post by luisforexmart on Jun 23, 2016 4:53:08 GMT -5
Fundamental Analysis for GBP/USD: June 23, 2016 GBP broke through 1.48 in early European session, peaking at 1.4830 due to two polls that showed the Remain camp leading by several points. This is the sterling’s highest rate against the USD in 2016. According to YouGov, the Remain camp gathered 51 percent of voters while the Brexit camp recorded 49 percent. ComRes, another major polling firm, revealed similar results with the Bremain leading by 6 percent at 48 percent while the Brexit side was at 42 percent. GBP/USD is now in a consolidating phase as traders remain cautious in the hours leading to the referendum. In the US, traders are going short on the USD as they wait for the huge impact the referendum’s result could bring. It is understood that the result along with the outcome of Fed’s assessment on a soft labor market will largely affect the interest rate in July. Dutch bank ING predicted that a Bremain will propel the GBP/USD to the 1.52 level while a Brexit will push it to as low as 1.30. The first support occurs at 1.4700 and 1.4659 subsequently. The first resistance occurs at 1.4830 and 1.4897. The MACD indicator is in positive location.
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Post by luisforexmart on Jun 30, 2016 4:57:31 GMT -5
Technical Analysis for EUR/USD: June 30, 2016 Followed by the Consumer Confidence report in the Eurozone, the euro currency has not made any alteration with its positions. Concurrently, the ECB will not whisk with the further monetary policy easing. There should be a proof that the economy of the Eurozone is declining before it implements any action. Slowly, the euro managed to step up continuously. It is showed in the 4-hour chart that the instrument stayed in a downside channel and the euro increased to its upper boundary. The pair was likely to regain 0.47% and has made a new local high at 1.1130. The resistance occurs at 1.1130 while the support stands at 1.1000. The MACD indicator was kept standing on a negative location while its histogram increased. The indicator will also give buy signals while its histogram increases. RSI indicator is in an impartial location and its growth from the oversold area is a buy signal. The price is under the Moving Averages (50, 100 and 200) which goes downwards indicating a sell signal. The 200-day moving average is a sturdy resistance for the euro which it touched yesterday. The EUR/USD tries to revert into the ascending channel on the daily chart.
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Post by luisforexmart on Sept 5, 2016 5:28:25 GMT -5
EUR/USD Technical Analysis: September 5, 2016 The EUR/USD pair whipsawed after the release of the US Non-Farm Payrolls report. The initial expected data was an increase of 180,000 jobs which led to a disappointment in the market as the pair topped out at 1.1252 before going below the the 10-day moving average at 1.1221 points. The currency pair’s exchange rate went up above the support line near the 10-day moving average at 1.1124 points. The RSI is currently reading at 46 points in the middle of the neutral range. In August, the data for the US non-farm payrolls went up by 151,000, falling short of its expected release after the 275,000 upsurge in July. The 3-month average is presently at 232,000, while the labor data increased by up to 176,000 while the household employment data also increased at 97,000. Unemployment rates were stagnant at 4.9% with participation rates on the neutral at 62.8%. Meanwhile, the average hourly earnings for July surged by 0.1% from its previous rate of 0.3%.
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Post by luisforexmart on Sept 5, 2016 5:33:29 GMT -5
USD/JPY Technical Analysis: September 5 2016 The Japanese yen demonstrated a weak movement despite of the positive labor statistics of US. The pair demonstrated a steep decline at the level of 103.50 and take a fresh daily lows thereafter the report of the US Non Farm Payrolls. The daily low of the USDJPY lured financiers to purchase interest which made the rate acquired price growth. Resistance level is seen at 104.50, support is at 103.50. The moving averages of the price presented a bullish tone according to the 4 hour chart while further stimulated on Friday. MACD approached on the positive zone. RSI is situated in the overbought area. Indicators revealed signal for the buyers. It is recommended for the sellers if they are able to drive the price below 103.50 so they may earn a double.
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Post by luisforexmart on Sept 6, 2016 7:18:28 GMT -5
Fundamental Analysis for EUR/GBP: September 6, 2016
The EUR/GBP traded higher by 3 points, going up at 0.8403. However, the pair still remains at the bottom rung of its trading average since the GBP has been bouncing back during the past sessions, especially since UK economic data reports has shown that the Brexit vote did not have that much of an adverse effect to the economy in contradiction to the initial speculations. Financial institutions such as the IMF has also stated that they are now reevaluating the situation since the Bank of England’s foresight has prevented further damage to the UK economy.
Meanwhile, the EUR went slightly higher at 84 pence. However, this is not far from Friday’s all-week low of 83.76 points. The construction and manufacturing surveys for the eurozone showed a major comeback, while the manufacturing PMI data recovered from July’s three-year low and traded at 53.3 points in August, its highest trading point reached in 10 months. On the other hand, the construction PMI data went up to 49.2 points from July’s 45.9
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Post by luisforexmart on Sept 6, 2016 7:25:42 GMT -5
AUD/USD Technical Analysis: September 6, 2016
In consonance with the report of the Australia Company Gross Operating Profits the Aussie demonstrated a good growth. The pair continued to flourish during the first day of the week. The buyers are able to drive the price level to 0.7600 as it became the turning point of the pair which marginally lose edge.
Moving averages keep on the neutral position as presented in the 4-hour chart. Resistance is seen at 0.7600, support is at 0.7540.
MACD lies near through the centerline. So in case that the histogram indicated a negative position the seller's strength will bolster but if it pierced within the positive territory, it will allow the buyers to rule the market. The RSI comes in at the overbought territory.
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Post by luisforexmart on Sept 8, 2016 9:11:32 GMT -5
Fundamental Analysis for USD/JPY: September 8, 2016 The USD continued to plummet against the JPY during Wednesday’s trading session, dropping by -0.55% or 0.564 points to trade at 101.445 points. This drop in rates was mostly caused by a negative-leaning US economic data, which reduced the probability of a Fed rate hike within the month, and protective sell stops are also being triggered by every new low encountered. The Institute for Supply Management’s data release for the non-manufacturing purchasing managers’ index also fell at 51.4 points last August, the largest drop seen for the data since November 2008, especially since traders and speculators were expecting 55.4 points. Traders are speculating that the fragile economic data can be used by Fed to refrain from increasing its interest rates. The labor market conditions data from the Fed also plummeted in August at -0.7 points following a positive data surge in July. On the other hand, the JPY continues to rise following reports that BoJ policymakers had varying opinions prior to the bank’s meeting on September 20-21. The said meeting is expected to tackle the bank’s stimulus program and conduct a thorough assessment of the said program. Analysts are speculating that the BoJ’s move to review its stimulus program may be a sign that its policymakers are beginning to doubt the effectiveness of the nation’s economic stimulus program. The US is also expected to release its most recent job openings report, with investors expecting data to come out at 5.58M, which is a bit lower from the previous data release of 5.62M. Meanwhile, the Fed is also expected to release its most recent Beige Book data. In addition, Esther George from FOMC will also be releasing a statement on Wednesday, which might have an impact on the market especially if there is a discontinuation of the expected interest rate hike in September.
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Post by luisforexmart on Sept 8, 2016 9:22:43 GMT -5
USD/CAD Technical Analysis: September 8 2016 The dollar made some withdrawal since the Fed had an increase despite that the market is experiencing a very high risk. The growth in the price of oil affected the CAD positively. Investors on the other hand are looking forward for the result of BOC meeting. The period of indecision of the pair intervenes between 1.2824 - 1.2864. The sentiment of USD CAD is identified to be neutral. The moving averages of the pair maintained a bearish position. The 50-EMA crosses the 100 and 200 EMAS as seen in the hourly chart. The level of resistance marked the 1.2900 and the current support approached the 1.2800 level. MACD demonstrated the same position that strengthened the sellers otherwise the RSI is moving towards the negative zone. The pair is recommended to surge with a resistance level of 1.2900 though there is a tendency to make a reversal and restore a lower position, seller should work for a price increase heading to 1.2800.
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Post by luisforexmart on Sept 9, 2016 7:18:21 GMT -5
Fundamental Analysis for GBP/USD: September 9, 2016 The GBP/USD pair increased by 30 points to trade at 1.3370, hitting its highest trading point since the Brexit vote. The GBP was able to gain strength due to the weakening of the USD and strong economic data. The Bank of England previously underwent criticism from Brexit supporters after the central bank stated that the UK economy would soon face a massive slowdown and a recession after the Brexit vote. Post-Brexit data has shown that the UK economy did not wholly suffer the drastic post-Brexit changes that was initially forecasted by analysts and spectators. However, economists are still speculating that it will not be long before Britain goes into an economic slowdown. The Bank of England Governor Mark Carney defended the bank’s moves against critics who were saying that the BoE has moved too rashly with regards to its handling of the Brexit shock, particularly in August where the bank cut down on its interest rates, eased lending policies, and expanded its bond-buying mechanisms. Carney has since then stated that the BoE has always expected that the main economic sectors would be able to recover from the referendum’s sudden impact in July, and this was shown in the recently published PMI data during the past few days.
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Post by luisforexmart on Sept 9, 2016 7:54:57 GMT -5
EUR/USD Technical Analysis: September 9 2016 The resolution of the European Central Bank to withdraw the key rates were kept unmodified yesterday. The tone of the EUR/USD settled an absolute status throughout the trading day. The strength of the buyers broke the 1.1270 level which enabled them to drove a larger price during the European session held earlier. EURUSD experienced draw back from the intraday high following the meeting of the ECB. The support of the price stands at the 1.1270 level. As indicated in the 4 hour chart the EUR alone are moving off in the 50, 100 and 200 Day EMAs. In view of that the moving averages engulfed a bullish pattern. The resistance of the pair holds the level of 1.1350 while the support is placed at the 1.1270. MACD signaled strength for the buyers. RSI returned to the overbought condition. The pair has the possibility to endure a decrease towards the 1.1270 area.
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Post by luisforexmart on Sept 14, 2016 7:32:09 GMT -5
Fundamental Analysis for NZD/USD: September 14, 2016 The NZD/USD pair went lower during the last trading session, going down 12 points to trade at 0.7341 in the light of an impending interest rate increase by the Fed and confusions brought about by a decision from the Bank of Japan. On the other hand, China’s industrial production data went well above the expected range but did not seem to bring much support to the commodity currency. The Chinese industrial data increased by 6.3% in August as compared to last year, while retail sales data also exceeded expectations from market speculators. Traders are now monitoring data from New Zealand, with the account balance due on Wednesday, economic data results scheduled to come out on Thursday, and the results of the consumer confidence survey set to be released on Friday. The NZD was also supported by an increase in food prices, which can cause inflation rates to ease a little bit. Bond prices from New Zealand also decreased, with yield points at 1.5 basis points, going higher towards the end of the yield curve.
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