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Post by luisforexmart on Apr 20, 2017 6:47:19 GMT -5
USD/CAD Technical Analysis: April 20, 2017
The U.S. dollar paired against the Canadian dollar surpassed the 1.3455 Resistance level reaching up to 1.3490 area. A consolidation is expected afterward and a continuous uptrend to follow it. The next target would be at 1.3550 region. The support levels were seen at 1.3420 then 1.3380 area. If these levels are sustained, it is anticipated for the uptrend to persist.
The U.S. dollar began positively green against the Canadian dollar. Although, the greenback appreciated on Wednesday session setting the pair to new highs for nine consecutive days. Buyers broke the 1.3400 level come morning and proceeded higher soon after reaching up to 1.3420 during the late European session. The Resistance level came in at 1.3470 while the support positioned at 1.3400 mark.
The market could try to bring the price higher towards 1.3470 region while buyers are set to 1.3450 then 1.3470 as their target levels.
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Post by luisforexmart on Apr 20, 2017 6:49:01 GMT -5
USD/JPY Technical Analysis: April 20, 2017
The U.S. dollar against the price of the Japanese yen maintained its downtrend in the 4-hours chart. From 112.19 level, it declined towards 108.13 which is a form of consolidation for the pair. If the trend stays within the channel, the decline could persist towards the next target at 107.00 region.
The Resistance level came in at 109.00 while the support level is seen at 108.00. A clean break higher than the current resistance level indicates the completion of the downtrend at 108.13 area. If the price bounces up, the next level is anticipated to reach the 110.50 mark.
New bids are set overnight in the market. The spot rebounded towards the 108.30 during the Asian session that enabled traders to clear all the losses during the night. Bulls could try to push the major pair higher in the morning trades and reach up to 109.00 in the afternoon European session. A breakout over the Resistance level at 109.00 opens buying opportunities while a rebound could bring the spot back to lows.
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Post by luisforexmart on Apr 20, 2017 6:50:51 GMT -5
EUR/USD Technical Analysis: April 20, 2017
The Euro against the U.S. dollar was traded in a limited range following a breakout higher than the 10-day Moving Average on Tuesday. It abated during the night trading session while the U.S. dollar is recuperating. However, this is only a fleeting moment as the buyers dominated again the market comes morning. The uptrend impetus also stopped during the mid-European session. Instead, the price reversed and declined towards the 1.0700 region.
A major support is found between 1.0640 and 1.0750 region while the Resistance level positioned between 1.0750 and 1.0906 area. It maintains its uptrend from 1.0569 level following a consolidation at 1.0737 region. It is anticipated that this could further go up in the next trading sessions towards the next target at 1.0800 area. A clear break lower than the short-term support at 1.0670 completes the uptrend. However, if this does not proceed higher, a profit-taking will take place towards 1.0680 level.
Overall, there is a good momentum as shown in the MACD index with signs of crossover signaling to buy this pair coming from a negative territory. However, it shows a downwards sloping trajectory in the hourly chart. The price activity is in the black which is anticipated to move in an upward sloping trajectory implying a higher exchange rate.
On the other hand, the RSI indicator stayed in a neutral range with a reading of 54 that is a form of consolidation. The hourly chart is showing signs for a bullish trend hinting for a next rebound.
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Post by luisforexmart on Apr 20, 2017 6:52:01 GMT -5
EUR/USD Fundamental Analysis: April 20, 2017
The EUR/USD pair encountered a lot of selling pressure after it reached the 1.0750 trading range and was unable to make any significant progress beyond this particular region. The currency pair has tried in vain to break through this range and has since then resorted to consolidating between 1.0750 and 1.0700 region for the duration of yesterday’s session, with the pair’s bulls mostly responsible for maintaining the pair’s position within its range highs.
There were no economic news released during the previous session and this is why the EUR/USD pair merely engaged in a ranging and consolidating mode with a bullish undertone for the US dollar. The USD strength was not that pronounced and was only able to induce a minor correction in the EUR/USD pair. However, there are some members of the ECB that are saying that economic speculations in the eurozone could possibly exceed market expectations, however this did not make a significant dent in the current value of the EUR/USD pair. The 1.0750 trading range could possibly be a good position for the pair’s bears to push the currency pair down, where the selling is expected to surge. The currency pair could also possibly correct towards 1.0600 unless a major market phenomenon shocks the market yet again.
For today’s trading session, the US will be releasing its unemployment claims data as well as its Manufacturing Index data while there are no expected releases from the EU economy. The US Treasury secretary will also be making a speech within the day and this is expected to increase today’s market volatility. On the other hand, the USD is expected to hold its ground and the currency pair will most likely remain within its current range.
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Post by luisforexmart on Apr 21, 2017 3:26:26 GMT -5
GBP/USD Technical Analysis: April 21, 2017
The British pound sways in a consolidation of the uptrend from 1.2365 level. The trading range is found between 1.2700 and 1.2904 area that would seem to persist in the next few sessions. If the market is able to sustain higher than the 1.2700 support, the uptrend will most likely persist and could even go higher towards the 1.3000 mark following the consolidation.
Buyers were able to maintain the 1.2800 position but the spot recently shifted in direction upon testing of the level. The pair gained momentum to rise during the Thursday session. The GBP was climbed higher from 1.2800 level in the European morning session towards 1.2850 level come afternoon. The Resistance was seen at 1.2900 mark while the support positioned at 1.2800 level. If the pair moved higher than the 1.2850 mark then this denotes the downtrend has eased but now it sways towards the 1.2900 area.
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Post by luisforexmart on Apr 21, 2017 3:36:07 GMT -5
USD/JPY Technical Analysis: April 21, 2017
The U.S. dollar against the Japanese yen is in the middle of breaking the Resistance in the downtrend channel. A clear break over the psychological level denotes the completion of the downtrend from 112.19 towards 108.13 region. This could further go up towards 110.50 level.
The Resistance level lies at 109.00 while the support level comes it at 108.00 mark. If the market is able to sustain the current resistance channel, the next uptrend from 108.13 level as a form of consolidation with the next potential downtrend towards 107.00 level following consolidation.
The pair shifted from neutral to positive during the Thursday session. The greenback was seen to sway at 109.00 level expanding its consolidation in the morning trading. If the greenback rebounded climbing towards 109.00 level that could extend towards 110.00 region for short-term.
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Post by luisforexmart on Apr 21, 2017 3:42:55 GMT -5
AUD/JPY Technical Analysis: April 21, 2017
The Australian dollar against the Japanese yen rebounded strongly on a major support level for this day following a downtrend which came to a stop. There also has been a sharp response to the Wall Street concerning risks amid the weakness of the currency and uncertainty brought by the French elections on Sunday. This could also be a way to encourage the bulls before the next retest.
The pair rebounded from the former resistance level at 81.50 which the shifted into a strong support. It jumped as much as 100 pips although this is about to decline.
The vertical trend line is near the 200-day Moving Average. The region close to 81.50 which becomes a significant psychological level. This further went up as it is now found at 82.15 level surpassing the current level and similar to200-day Moving Average. It could further go up and break over the current levels towards the next target levels at 82.80 then 83.30.
However, if the market fails to sustain the 82.15 support level then there is a chance to break lower than the critical level of 81.50 as a support. When this happens, this could be followed by a correction towards 78.50 with 61.8% Fibonacci level up to the 78.50 region in the next decline.
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Post by luisforexmart on Apr 21, 2017 3:55:14 GMT -5
EUR/USD Technical Analysis: April 21, 2017
The Euro against the U.S. dollar remains the same as there are little changes in the trading activity. The Resistance level started in a decline in the beginning of the trading session linking it to the highs reached during the election and in March reaching close to 108.00 mark. This trend is being supported in the 10-day Moving Average setting at 1.0650 level.
The pair gives off a positive momentum as shown in the MACD index and moving in an upward direction which means a higher exchange rate. The hourly chart cited that the pair broke over the resistance level at 107 handle will most likely proceed higher. Alternatively, if the pair breaks lower than the said level, the trading range could fall lower close to 1.0745 mark. There is a negative bias seen in the hourly with a crossover found in the MCD index indicating an opportunity to sell.
The upward trajectory stretched out as high as 1.0777 from 1.0569 level. The short-term support is seen at 1.0699 level. If this level is sustained, the decline from 1.0777 mark is considered as consolidation of an uptrend and could climb higher to 1.0830 region.The major support level is found at the base of the price channel and break beyond this level signifies the completion of the uptrend.
The buying interest of traders maintained strongly on Thursday session following a reversal to fresh new highs in during the Wednesday session. This pushed the price to reach the 1.0750 support level. The next target would be at 1.0800 resistance level which opens buying opportunities.
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Post by luisforexmart on Apr 21, 2017 4:52:53 GMT -5
EUR/USD Fundamental Analysis: April 21, 2017
The EUR/USD pair had attempted to break through its upper barrier by pushing through all of its selling within the 1.0750-1.0780 range. However, the pair’s progress was blocked by large-scale selloffs and has since retreated below this particular range. This region has been touted to be a barrier for the pair’s bulls and could then be used by sellers as leverage to sell for the subsequent corrections. The currency pair is now trading at just over 1.0700 points.
There were no economic releases during the previous yesterday but there were reports released indicating Le Pen’s steadily poor performance with regards to the polls just a few days before the French election commences. This created a positive mood in the market, with more and more investors now willing to invest in the EUR. This particular piece of news has enabled the EUR/USD pair to surpass 1.0750 and even reached 1.0780, although the market was more interested on whether the pair’s bulls would be able to maintain its current gains while going up higher on the chart.
For today’s session, Germany and France will both be releasing its Manufacturing PMI data but the market is expected to make all the necessary preparations as France gears up for the French national elections. If Le Pen loses, then this will be a positive occurrence for the market and the EUR/USD pair could possibly rally next week.
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Post by luisforexmart on Apr 21, 2017 5:08:14 GMT -5
GBP/USD Fundamental Analysis: April 21, 2017
The GBP/USD pair continues to trade on a very strong note throughout yesterday’s session although it had some minor corrections which caused the currency pair to retreat towards 1.2800 points. The sterling pound had consistently made some progress yesterday, with the effects of the UK snap elections inducing more momentum for the pair and thus enabling it to keep on going higher and higher.
The pair’s bulls enabled the GBP/USD pair to reach 1.2900 for a short while but this has caused the pair to reach its short-term goals. However, it has yet to be seen whether the pair would eventually correct towards 1.2100 or whether this will be more than enough to keep the GBP/USD pair accelerating towards the upper rungs of the chart. Market players are speculating the latter, with the currency pair still being able to trade on a positive note in the short term. US Treasury Secretary Mnuchin has already confirmed in a statement yesterday that the US economy will be indeed implementing tax cuts which reinvigorated the USD and clamped down on the GBP/USD rally, causing the pair to retreat towards 1.2800 points.
For today’s session, the UK economy will be releasing its retail sales data and MPC’s Saunders will be making a statement in the European session. The GBP/USD pair is expected to consolidate on both directions of 1.2800 points for the rest of today’s session.
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Post by luisforexmart on Apr 21, 2017 6:04:03 GMT -5
USD/JPY Fundamental Analysis: April 21, 2017
The USD/JPY pair closed down yesterday’s session on a much higher note as stocks made a very welcome recovery, thereby increasing the demand for high-profit assets as a favorable candidate for the market managed to take the lead just mere days before the first round of the French national elections. However, regardless of what the opinion polls have to say about the upcoming French elections, traders are still very concerned that a low voting turnout might cause them to be at the wrong side of the market once again, especially after last year’s Brexit vote and US presidential elections caught the market by surprise.
Although a surge in the demand for riskier assets and a surge in Treasury yields are now lending some temporary leverage for the USD/JPY pair, things could pan out at basically any given direction due to several geopolitical concerns particularly those happening in DPRK and France. In France, Marine Le Pen could possibly gain a lead since the recent attacks in central Paris and the recent attack on French police officers could further cement security as the most imminent theme in the minds of voters just before the elections this coming Sunday. On the other hand, US defense officials are saying that a larger occurrence of bomber activity in China has been spotted after North Korea’s officials issued a warning to Beijing, saying that a nuclear test will be done on April 20. If this particular situation escalates, then stocks could possibly drop as investors make another flight to safety action and invest more in the Japanese yen.
For today’s session, the market is expected to be somewhat at ease today with a minor upward bias for the USD/JPY pair as stocks are steadily rallying. Traders are advised to monitor external occurrences as these might dictate whether the bulls of the USD/JPY pair would be hard-pressed to lie low within the day’s session.
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Post by luisforexmart on Apr 24, 2017 5:58:45 GMT -5
USD/JPY Technical Analysis: April 24, 2017
The U.S. dollar against the Japanese yen dropped by few increments during Friday trading session. It continues to move in a consolidation state but after given some time, it could reach up to 100 level and higher. The 108 level and below gives a massive support. It seems that it will stay within this trading range for some time with the possibility that the market would try to move the pair in a certain direction recurrently.
The spot price ebbed the whole night yesterday causing the pair to be under pressure until the beginning of the European session. It broke higher than the 109.00 mark and reaching a weekly high of 109.47. Sellers are trying to push the price to 109.00 by noontime. The key resistance is found at 110.00 while the support positioned at 109.00 mark. A move lower than the 109.00 could re-establish the bearish bias of the pair.
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Post by luisforexmart on Apr 24, 2017 6:10:16 GMT -5
USD/CAD Technical Analysis: April 24, 2017
The U.S. dollar paired against the Canadian dollar surged during the Friday session as it broke above the 1.35 handle as it has been before. This could climb higher but at the same time, this will bring high volatility in the market. The oil market could support this trend especially when it drops which is not far from happening.
Overall, the trend gives a bullish tone and reversals could create opportunities to go long for this pair. If the pair breaks higher than the 1.36 level, the trading condition could switch to a “buy and hold” scenario in the market.
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Post by luisforexmart on Apr 24, 2017 6:18:49 GMT -5
GBP/USD Technical Analysis: April 24, 2017
The British pound slumped against the U.S. dollar as seen on Friday session. There is significant support positioned higher than the 1.2750 area. The 200-day Exponential Average also hovers within the range and soon enough, this range will grow higher. It is more practical to go long in this pair when it reaches the next target of 1.3450 level or higher. There will be reversals as buyers wait to grab the opportunity. It is anticipated for this pair to be traded in high volume in the market.
The pair maintained its neutral standpoint on Friday session. The key psychological level hovers close to 1.2800 in the day but this was being countered by buyers. Sellers are trying break lower than the said levels while they are indifferent to now. The resistance level sits atop the 1.2900 mark while the support level positioned at 1.2800. It is too early to tell if the seller could break lower than the 1.2800 mark while bears are anticipated to push the pair towards the 1.2700 area.
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Post by luisforexmart on Apr 24, 2017 6:28:56 GMT -5
EUR/USD Technical Analysis: April 24, 2017
The trading of EUR/USD pair broke has a high volatility session. The market broke lower than the base of the shooting star pattern formed in the past session which is not a good sign. However, this could be redeemed faster since there is a lot of noise seen below the trading range which means that a rebound is possible to take place soon. Also, the pair could rally higher in a long term however, this would need a bit of a push from traders. There are a lot of factors that affects the pair’s trading hence, traders should wait and see whether this would change. Although, this is not that worse to change pair.
The recent sell-off EUR/USD pair was followed by a consolidation in the downtrend. The spot price settled at 1.0700 handle and the pair could stay here for some time. Sellers are gaining momentum to go downhill as it seems hard to maintain the current level. The Resistance is found at 1.0750 while the support is positioned at 1.0700 level. The pair would not rise as of the moment but the next move hints to go downward. A breakout of 1.0700 is being waited out while the sellers target the next move towards the 1.06 region.
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