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Post by luisforexmart on Apr 6, 2017 6:07:49 GMT -5
USD/JPY Technical Analysis: April 6, 2017
The U.S. dollar against the Japanese yen surged on Wednesday session. The market tries to move the price towards the 112 level but still with downward pressure in the upper channel. The pair recovered after some losses as it settled close to 111.44 level despite the market sentiment getting better. Asian shares were seen to advance in the Wall street after the Nikkei PMI rallied to 52.9 in March data as its highest in less than two years. On the other hand, the Manufacturing PMI reaching 52.4 this month denoting a steady demand for goods and services. The overall trend of the pair will be in consolidation but the traders should expect choppiness in the trend.
The Resistance level is seen at 112 while the support level comes in at 110 mark and this could persist as the trading range of the pair for some time. A break lower than the 110 mark could induce the pair to further go down towards the 108 level. The 100-SMA maintains its bearish tone while the RSI indicator stayed in neutral after the market lost its impetus to go higher. It is expected for the pair to maintain uptrend before the NFP data to be issued on Friday.
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Post by luisforexmart on Apr 6, 2017 6:15:43 GMT -5
EUR/USD Technical Analysis: April 6, 2017
The weak Eurozone PMI place pressure on the common European currency yesterday. The EUR/USD fixates on the release of ADP employment report and FOMC minutes later this day.
The EUR appeared neutral in the morning. The price moves in a familiar trading range positioned between the points 1.0650 and 1.0670.
The rebound occurred on Tuesday supported the spot to reach the upper limit of the range by which the upward momentum dwindled. The pair trailed the band’s upper limit and advance lower in the middle of the day amid EU hours.
As specified in the 4-hour chart, the pair rebounded below the 200-EMA and the 50-EMA resumed a downward trend. While the 200 and 100-EMA drove higher.
Resistance is found at 1.0700 region, support hit 1.0650 mark.
The MACD histogram strengthened which showed weakening for the positions of sellers. The RSI headed northwards confirming a current upward impetus.
It is recommended to remain neutral unless clear signals were obtained. A break in the 1.0650 area targets the next level at 1.0600. Should a rebound occurred within the mentioned range allows the buyers to regain the control and posting the market near 1.0750.
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Post by luisforexmart on Apr 6, 2017 6:20:51 GMT -5
GBP/USD Technical Analysis: April 6, 2017
The British PMI Services exceeds anticipated results providing support for Britain’s currency. The Great Britain pound came in positive during Asian trades yesterday. The major were developing well over the night. Also, the GBPUSD met a renewed buying-wave amid morning session of Europe.
The price continued to grow and spiked towards 1.2500 region, but the spot found a selling interest stalling its progress.
It can be witnessed in the 4-hour chart, the major to test the 50-EMA and kept its position. Moreover, the timeframe outlined the 50-EMA downward trend, 100-EMA preserved a bullish pattern and the 200-EMA arrived neutral.
Resistance came in at 1.2500 mark, support pierced 1.2400 level.
The MACD histogram sustained its previous stance confirming sellers’ strength. RSI oscillator aimed higher.
Regardless of the fresh buying interest, the pair has uncertainties for its future. The buyers appeared slightly weak in sending more gains causing the sterling to move to the downside. The pair had to touch below the range 1.2450 to bring about a new downward impetus to test 1.2400.
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Post by luisforexmart on Apr 6, 2017 6:30:55 GMT -5
NZD/USD Technical Analysis: April 6, 2017
The economic calendar of New Zealand appeared to be uneventful, however, the major got some support from the positive remarks of Moody’s triple-A rating for New Zealand. On one side, the US dollar remained to be in control prior to Trump-Xi Summit.
The NZD/USD maintained a neutral stance confined over 0.6950 level throughout the night session. The spot witnessed renewed offers in the first part of the day and headed downwards. The pair continue its attempt in reaching its 3-week lows later today.
As defined in the 4-hour chart, the spot remained to develop under the moving averages as the 50 and 200-EMAs dive lower. Furthermore, the 100-EMA pushed higher and the 50-EMA go over the 100-EMA.
Resistance is at 0.7000 mark, support is found at 0.6950 area.
The MACD histogram preserved the same grounds indicating strength for the sellers. RSI indicator touched the undervalued zone, confirming additional move upwards.
The commodity-linked pair is expected to resume its negative sentiment. A close under support region 0.6950 would likely see the pair to persist a downturn to 0.6900.
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Post by luisforexmart on Apr 6, 2017 6:32:24 GMT -5
USD/CAD Fundamental Analysis: April 6, 2017
The USD/CAD surged in value during yesterday’s session following a series of strong US data and a drop in oil prices. Although the US dollar decreased significantly as a reaction to a very disappointing FOMC meeting minutes, it has still somewhat managed to maintain its grip on its advantaged against the Canadian dollar and is currently trading at its safe zone of just under 1.3450 points and could possibly be poised for more gains within the day. The pair’s bulls are currently at ease since the USD/CAD has managed to surpass its range highs of 1.3400 points. However, there is still the heavy resistance found at 1.3500 points which could possibly be overtaken by the pair’s bears.
The ADP employment change data from the US came out on a very impressive note yesterday, and this has enabled the USD/CAD pair to break the 1.3400 barrier. The pair was also generally unaffected by the dismal FOMC meeting minutes, and was even unshaken by Trump’s tax plans which are currently in hot water from House members. The major reason for this is the CAD’s significant backing from a drop in oil prices after it fell from $52 and is now priced at just $51. This was mostly because of the API data which exhibited a major buildup, bearing bad news for the CAD and thereby pushing the pair towards its range highs of 1.3450 points.
The Canadian economy is not set to release any important economic data until tomorrow, while the US will be releasing its unemployment claims data today. The USD/CAD pair is then expected to merely exhibit ranging and consolidation for the time being.
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Post by luisforexmart on Apr 6, 2017 6:34:07 GMT -5
GBP/USD Fundamental Analysis: April 6, 2017
The GBP/USD pair continued its current trend of trading within 1.2400 and 1.2500 points, something which is already pretty much anticipated by analysts yesterday. The GBP/USD pair is expected to break through this trap any time now, but even if it does manage to surpass this particular range, there is still a lot of resistance and support amounts on both barriers and the currency pair is not expected to go far in terms of its range. It would take a lot of clearing up for the Brexit process including its ongoing negotiations before the market can form a substantial opinion regarding the current status of the British economy, and only then will the sterling pound be able to move towards a specific direction.
The UK Services PMI data was released yesterday and came in at a much better reading than what was expected in the first place. This has then helped to offset the imbalance caused by Monday’s PMI data, which was generally a disappointment to the market. The ADP employment report also exceeded market expectations and this has caused the GBP/USD pair to test its bottom range at 1.2450 but was still unable to surpass this particular boundary. The FOMC minutes then got released during the latter part of yesterday’s session, although this had almost no effect on market volatility. There were also news regarding concerns surrounding Trump’s tax plans, and this has put significant downwards pressure on the US dollar and caused the GBP/USD pair to advance towards 1.2500 points.
There are no major news releases expected from the British economy although we do have the US unemployment claims data set to be released later today. The SUD is most likely to remain under pressure today, and the GBP/USD pair could possibly test 1.2500 points, and could even reach 1.2600 points if it manages to break through its current range.
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Post by luisforexmart on Apr 6, 2017 6:41:46 GMT -5
EUR/USD Fundamental Analysis: April 6, 2017
The EUR/USD pair is yet again trapped within a very limited trading range, which has been the pair’s dominant trend ever since the start of the week. The slew of economic data from the US economy did little to push the currency pair through its current range, although it has tested both barriers but has not yet come close to breaking through this particular range. However, the market is expecting the currency pair to make a breakthrough anytime within this week, and a break in any direction is expected to be very large-scale, with runs possibly occurring.
The EUR/USD pair traded tightly during the Tokyo and London sessions yesterday as it awaited for the release of economic data from the US. The ADP employment report was the first to come out, with the said data exceeding initial market expectations of less than 200K after it came out at 250K. Although last month’s reading was revised as a result, 250K is still a very strong average if we take into consideration the reading for the two previous months. This also marked the continuation of a steady stream of positive data from the US economy. In addition, this also put the EUR/USD pair under pressure and tested its range lows of 1.0630 although it made a small recovery towards the end of the session.
Next up was the release of the FOMC meeting minutes, which was very lackluster as it did not contain any relevant information for traders. The said minutes contained only balance sheet discussions and did not induce enough volatility for the EUR/USD pair. The USD was also put under pressure as the majority of House members expressed major uncertainties with regards to Trump’s tax plans, and this has helped the EUR/USD to recover towards 1.0680 points.
For today’s session, there are no major news releases from the EU economy although the US will be releasing its unemployment claims data. The USD is expected to remain under pressure for the duration of today’s session, with the EUR/USD remaining afloat and could possibly break through its range highs at any point within today’s session.
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Post by luisforexmart on Apr 11, 2017 6:07:07 GMT -5
AUD/USD Technical Analysis: April 11, 2017
The Australian dollar declined extending major losses on the last days last week as it broke lower than the support level at 0.7550 as shown in the 200-SMA with 38.2% Fibonacci Retracement level at 0.7523 towards 0.7512 in 100-SMA. It breaks for short-term support at 0.7489 level completing the decline from 0.7489 or 0.7749. It has reached a new low at 0.7475 which has been the lowest level since Jan 17 and is anticipated to consolidate in those levels.
The initial Resistance level came in at 0.7512 then 0.7526 to 0.7550 and lastly 0.7576 levels while the Support level positions at 0.7489 then 0.7475 down to 0.7449 and lastly 0.7400 level.
Overall, the tone gives off bearish stance near the 0.7489 pivot level where it opens for the next key support at 0.7449. Moreover, the pair could extend its consolidation higher than the fresh low at 0.7475 that is far from the initial level seen at 100-SMA but not strong enough to surpass the next barrier shown in 200-SMA. If it breaks in those barriers then this would indicate a bullish tone and decline in the sidelines that needs to be monitored.
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Post by luisforexmart on Apr 11, 2017 6:14:34 GMT -5
USD/CAD Technical Analysis: April 11, 2017
The U.S. dollar against the Canadian dollar swayed to and fro during the Monday session. It seems that there is a chance for a bullish trend hidden under but oil market hampers it to come out. There next target of the psychological level would be at 1.35 level although, this is not strong enough as there is no candle patterns or a short-term impulsive green candle formed yet. However, if the market will be able to break lower than the 1.3250 mark, then the trend could further go down. Traders should expect choppiness in the market but are still in a consolidation states as to how it has been in the past few weeks.
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Post by luisforexmart on Apr 11, 2017 6:23:19 GMT -5
USD/JPY Technical Analysis: April 10, 2017
The U.S. dollar against the Japanese yen surged on Monday session that brings profit to trades. Although, currently the market is in consolidation state which will most likely continue with the trading range between 112.00 as the resistance level and 110 as the support area. The pair is very sensitive to risks and investors in the stock market should keep an eye on the trend.
The greenback appreciated after the U.S. airstrike in Syria. The balance sheet reduction news and Japanese trade balance influenced the currency and at the same time limits the surge of U.S. dollar.
It tried to continue its buying momentum higher than the 111.50 mark yesterday but failed. It shifted its course after posting a higher range level at 111.54 mark. Although, the price was seen to ease come night session as it moves toward the 111.00 level.
The pair was seen to rebound in the 50-EMA and sustained the 100-EMA in the 4 hours chart. On the other hand, both 100 and 200-EMAs continued to go lower while the 50-EMA remained neutral. The MACD showed the pair to enter the positive area and if this is sustained, it indicates strong lead of buyers. The RSI indicator has lost its momentum when it is directed downwards. The next bearish target would be at 110.00 mark and a rebound higher than the 111.50 mark implying its lost in dominance while a break more than the 111.50 level opening the chance for the pair to move further towards 112.00 mark.
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Post by luisforexmart on Apr 12, 2017 0:07:24 GMT -5
EUR/USD Technical Analysis: April 12, 2017
The single European currency reached the level 1.0600 last Monday and retreated slightly during the night. The major was able to gather strength in the night and headed upwards amid the onset of the European hours. Therefore, buyers turned the price back towards 1.0600 mark and recover its night losses.
The EUR/USD gapped through the level in the middle session of Europe. The pair spent the day under the moving averages as shown in the 4-hour chart. The resistance lies at 1.0650 mark, support is at 1.0600 area.
The MACD histogram increased indicating a weak position of the sellers. The RSI indicator holds close to the oversold readings, confirming a higher trend.
In case that a recovery occurred on top of the 1.0600 range, there is a likelihood for an upward move till 1.0650.
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Post by luisforexmart on Apr 12, 2017 0:09:29 GMT -5
EUR/USD Technical Analysis: April 12, 2017
The single European currency reached the level 1.0600 last Monday and retreated slightly during the night. The major was able to gather strength in the night and headed upwards amid the onset of the European hours. Therefore, buyers turned the price back towards 1.0600 mark and recover its night losses.
The EUR/USD gapped through the level in the middle session of Europe. The pair spent the day under the moving averages as shown in the 4-hour chart. The resistance lies at 1.0650 mark, support is at 1.0600 area.
The MACD histogram increased indicating a weak position of the sellers. The RSI indicator holds close to the oversold readings, confirming a higher trend.
In case that a recovery occurred on top of the 1.0600 range, there is a likelihood for an upward move till 1.0650.
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Post by luisforexmart on Apr 12, 2017 0:14:19 GMT -5
GBP/USD Technical Analysis: April 12, 2017
Britain’s national currency manifested a positive day on Tuesday. The major resumed a buying sentiment in the first part of the day following a neutral night.
The Cable leaves the 1.2400 region and trailed northbound before the outset of London trades. Moreover, buyers touched the level 1.2450 in the noon, buy they are unable to move farther the area.
The spot remains in the middle of 200 and 50-EMAs as presented in the 4-hour chart. Resistance approached the 1.2500 mark, support plunge into the 1.2400 region.
The MACD histogram gained strength and signaled weak position of the sellers. The RSI indicator also weakened and drove lower.
The recovery showed a continuous progress. Furthermore, bulls fixate on the resistance level 1.2500.
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Post by luisforexmart on Apr 12, 2017 0:14:29 GMT -5
GBP/USD Technical Analysis: April 12, 2017
Britain’s national currency manifested a positive day on Tuesday. The major resumed a buying sentiment in the first part of the day following a neutral night.
The Cable leaves the 1.2400 region and trailed northbound before the outset of London trades. Moreover, buyers touched the level 1.2450 in the noon, buy they are unable to move farther the area.
The spot remains in the middle of 200 and 50-EMAs as presented in the 4-hour chart. Resistance approached the 1.2500 mark, support plunge into the 1.2400 region.
The MACD histogram gained strength and signaled weak position of the sellers. The RSI indicator also weakened and drove lower.
The recovery showed a continuous progress. Furthermore, bulls fixate on the resistance level 1.2500.
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Post by luisforexmart on Apr 12, 2017 0:22:08 GMT -5
USD/CAD Technical Analysis: April 12, 2017
On Monday, sellers attained a stable support at the region 1.3330. The bears were unable to regain the level during the night and found the region amid morning trades.
The spot retained its neutral sentiment throughout the European session. The major surpassed the entire moving averages lower and stayed below the MAs specified in the 4-hour chart.
Resistance is found at 1.3330, support pierced through the 1.3260 region.
MACD histogram declined to indicate a sell signal. The RSI indicator resumed its consolidation close to the oversold territory.
A sharp breakout over the 1.330 area could probably trigger a move near 1.3400.
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