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Post by luisforexmart on Apr 24, 2017 6:35:25 GMT -5
NZD/USD Technical Analysis: April 24, 2017
The sellers have broken the level 0.7000 and moved ahead through the region 0.6980 by which the commodity pair USD/CAD met some renewed bids. Meanwhile, buyers were able to regain few of its losses with the help of the fresh buying interest.
During the mid-session of Europe, the price come again on top of the mark 0.7000 and touched 0.7012 in the mid-European trading.
Resistance came in at 0.7050, support highlighted 0.7000.
Moreover, the bullishness will remain until the standing of 0.7000 area.
We expect for further action towards a higher point at 0.7050.
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Post by luisforexmart on Apr 24, 2017 6:43:17 GMT -5
AUD/USD Technical Analysis: April 24, 2017
This week has seen that the AUDUSD pair has fallen, testing below the 0.75 handle. Upon having some buyers within that level, the market tends to reverse and rebound forming a less than negative candle versus its earlier anticipated situation.
In light of this, the market would probably resume its consolidation in the middle of regions 0.75 (bottom) and 0.7750 (top).
With this, the market can be traded with short-term charts as the long-term charts are expected to come across much noise.
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Post by luisforexmart on Apr 24, 2017 6:45:23 GMT -5
GBP/JPY Technical Analysis: April 24, 2017
This week showed that the pair GBP/JPY have rallied throughout the week, hitting the handle 140.
In case that the 141 region will be broken, the market would advanced higher. A pullback with buying opportunities is significant except that we could cut down lower than the weekly lows.
It is highly expected that the market will resume its activity to search for buyers considering the British currency to gain much strength.
Keep in mind that the GBP/JPY is very much susceptible to risk appetite which is important for you to be aware of the stock markets. Moreover, it is possible that 150 handle will be the most profitable level.
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Post by luisforexmart on Apr 24, 2017 6:55:04 GMT -5
EUR/GBP Technical Analysis: April 24, 2017
This week brought the EURGBP to a breakdown following attempts of rally towards the 0.85 handle. A significant fall through with this level has higher chances to move deeper.
This scenario could possibly take place in case the French elections continued to sway against the EU direction.
Moreover, the British currency set off in the upside and assumed to extend this influence over the pair. The buying activity is currently ruled out.
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Post by luisforexmart on Apr 24, 2017 7:11:01 GMT -5
USD/JPY Fundamental Analysis: April 24, 2017
The USD/JPY pair was initially expected to inch higher in value this Monday due to investor reaction on the exit polls of the French national elections, wherein both Macron and Le Pen garnered enough votes to enable them to advance towards the second round of the country’s elections. Investors had been previously making a flight to safety after concerns that Eurosceptic Jean-Luc Melenchon could possibly gain an edge against Emmanuel Macron, thereby enabling him to face off against Le Pen in the final round of the national elections and leaving French citizens no choice but to pick between two radical candidates who could possibly be a threat to the future of the eurozone.
Traders are now reacting to this bit of news by leaving safe haven assets such as the JPY and Treasuries. A lower-valued US Treasuries would thereby make the USD more attractive as compared to a weaker Japanese yen. US stocks are also expected to further increase in value as the market is now receiving funds which were previously placed at the sidelines. The JPY could then undergo additional pressure if the gap opening increases the influx of investors. Meanwhile, fund outflows from gold assets are helping to prop up the equity markets, with the carry trade back on its feet so investors are now borrowing JPY funds in order to buy USD and then invest these into US equity markets.
Some volatility is still to be expected even if a bullish undertone is expected to manifest out from high-yield assets, especially if the results of the elections show even a small victorious hint of Macron against Le Pen, which could then be bad news for investors as this means that Le Pen is slowly but steadily gaining momentum against Macron.
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Post by luisforexmart on Apr 27, 2017 4:23:00 GMT -5
AUD/USD Technical Analysis: April 27, 2017
The Australian currency slumped significantly during the Wednesday session as it broke lower than the 50% Fibonacci Retracement level. A break lower than the 0.7450 level would proceed to go lower but sellers could come anytime in the market being the price to go up. The next target would range close to 0.7375 and below with 61.8% Fibonacci Retracement level.
The pair broke in its support region but still lingers close today’s lows indicating strong pressure to sell the pair. It surpassed the 0.7475-0.7500 support range which was the former resistance area.
This could be followed by a slide towards at 0.7385 with followed by 0.7285 level with 61.8% and 78.6% Fibonacci retracement level respectively. As it reaches the 0.73 handle, a bullish trend becomes apparent which becomes a good support level. A breakdown in these levels could result to pursue selling in the next few days,
However, if the Aussie returned to 0.75 handle similar to daily close which is not a good sign. The price could move back directed towards the top of its range at 0.7700 and 0.7750. Nevertheless, a breakdown is more likely to happen.
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Post by luisforexmart on Apr 27, 2017 4:45:03 GMT -5
USD/CAD Technical Analysis: April 27, 2017
The U.S. dollar against the Canadian dollar attempted to go higher but the 1.36 level stayed strong. Hence, the price would quite go down as the oil market surge. The 1.35 level becomes a significant support which would open more buying opportunities. However, if the price breaks higher than the latest high, this would translate the market into a buy and hold condition. It may not be favorable to order short this pair as it might go higher.
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Post by luisforexmart on Apr 27, 2017 4:54:34 GMT -5
EUR/GBP Technical Analysis: April 27, 2017
The Euro paired against the British pound surged in the beginning of the Wednesday session. The Resistance level was too strong that the market failed to break out. Consequently, the price would most probably decline and tried to fill the gap formed at the beginning of the week. Traders who would like to sell for short-term could do so but should be heedful of a lot of noise present in the area and best to wait for the sidelines until a chance to go long comes in. A breakout of the current trading range would also be a propitious sign for this pair.
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Post by luisforexmart on Apr 27, 2017 4:59:53 GMT -5
NZD/USD Technical Analysis: April 27, 2017
The New Zealand Dollar was kept under pressured area on Wednesday. The price weakened during the night and stalled near the level 0.6900 in the late session of Europe. Meanwhile, technical indicators provided sell signals.
Resistance highlighted 0.6950 mark, support is at 0.6900 area.
As the drop in the NZD quotations was canceled, a stable growth came about and breakdown to the region 0.7050 for further indication of growth.
There are no significant releases from New Zealand as the pair will not experience any impact with regards to the exchange rate.
Inability to maintain 0.6900 would likely move the NZDUSD to continue its downward momentum through 0.6850.
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Post by luisforexmart on Apr 27, 2017 5:23:38 GMT -5
GBP/USD Technical Analysis: April 27, 2017
The British currency resumed trading on the side-trend yesterday. The price stayed within its renewed local highs during the entire Asian hours. Meanwhile, the selling pressure accelerated amid morning trades.
The sterling weakened and trailed to 1.2800 area in the post-open of London sessions, therefore eliminating a large portion of its gains.
Moreover, the moving averages presented buy signal, while the RSI and MACD en route south. Resistance came in at 1.2900, support entered 1.2800 region.
It is expected that the selling pressure will continue. A clear break under 1.2800 level would suggest resumption of the bearish period. The major will probably move ahead southbound near 1.2700 area, next to 1.2650 mark.
The major will probably move ahead southbound near 1.2700 area, next to 1.2650 mark.
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Post by luisforexmart on Apr 27, 2017 5:48:56 GMT -5
EUR/USD Technical Analysis: April 27, 2017
The EURUSD trailed downwards as it fell towards 1.0855 mark. It finished off the New York session near its lows found in the level 1.0897. The trading rate is near at 1.0906 which is the previous resistance of March highs. Additionally, President D. Trump already published his tax plan amid the press conference wherein Budget Director Gary Cone and Treasury Secretary Steven Mnuchin were present.
On one side, the pair consolidated its gains on Tuesday, however, maintain on top of the breakout level and would probably test much higher regions.
The differences in the yields among bonds and treasury were steady prior the meeting of European Central Bank Thursday.
Meanwhile, Draghi is expected to maintain a bullish sentiment as he was pressured to acknowledge the latest strings of higher economic data results.
The pair sustained its position on top of the support region where a downtrend in November to March highs are repeated approaching the 1.0820 mark.
Further support is found close to the 10-day moving average around 1.0743 region. The next focus for resistance is at 1.299 which is identified as the highs during November 8.
The EUR/USD preserved a positive momentum considering the MACD prints an upward slope pattern showed that the histogram climbed. It also produced a crossover buy signal as the April ends.
Moreover, the RSI manifested a bullish flag path which is very much alike to the consolidation witnessed in the exchange rate. The index surpassed over the 65 level but did not test the print. The recent print is 66 which is located on neutral range’s high-end and under the 70 overbought territory.
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Post by luisforexmart on Apr 27, 2017 5:56:12 GMT -5
GBP/USD Fundamental Analysis: April 27, 2017
The GBP/USD pair had a very consistent price action during yesterday’s trading session although it is still located at the 1.2900 trading range which the pair has reached a few trading sessions ago. Unless the currency pair manages to break through this particular trading range, then there is still a risk that the GBP/USD pair could revert anytime into the 1.2600 range in the short term. As of the moment, the pair’s bulls have total control of the currency pair but if the cable pair is still unable to make an upward move in the coming days, then the pair should be pushed down in order to gain more buyers, thereby creating just enough momentum for the pair to shoot past 1.2900 points once the pair rallies again.
During the previous session, the GBP/USD pair underwent a very restricted consolidation mode since the market was busy monitoring the results of Trump’s announcement later that day. After the tax plan was announced, the dollar dropped slightly in value and this caused the GBP/USD pair to climb above the 1.2850 trading range where it looks poised to further reach into the 1.2900 region. The announcement from Trump was unable to improve the dollar outlook as most of the details of the announcement was pretty much priced in by the market. In addition, the market is also somewhat skeptical on whether Trump would be able to actually push through with the tax plan as most of his campaign promises are left unsupported by members of his own party, such as the health care plan. This caused the USD to backfoot which was then used by the GBP/USD pair to gain an advantage in the market.
For today’s session, there are no expected releases from the UK economy while the US will be releasing its unemployment claims data. Traders are advised to take caution as choppy trading is expected today.
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Post by luisforexmart on Apr 27, 2017 6:01:46 GMT -5
EUR/USD Fundamental Analysis: April 27, 2017
The EUR/USD pair backfooted during the earlier parts of yesterday’s session following rumors that Trump will be releasing the details of his proposed tax plans within the week, with these tax cuts expected to be large-scale and caused the USD to surge and pushed the currency pair at 1.0900 and is now moving at the 1.0850 trading range, with traders now expecting Trump’s comments regarding this particular issue.
During the NY trading session, President Trump announced the details of his tax plan, although it appeared as if the market has pretty much cashed in on the situation as the USD was unable to make much progress as the said tax plan was announced. The USD instead dropped in value across the board since the market was expecting additional tax cuts and more details than what was initially released to the public yesterday. Simply put, the market expected more details but instead got headlines and other media-worthy bits. Nevertheless the tax plans are somewhat looking good although it has yet to be seen whether Trump’s tax plan would be easily approved or if it would have to face challenges which was what happened to the administration’s health care plan. The weakness of the USD caused the EUR/USD pair to revert towards just above 1.0900 points.
For today’s session, the ECB will be releasing its rate announcement followed by a press conference, wherein the central bank is expected to maintain its current rates. The market is now monitoring whether Draghi would induce the euro to go back down especially after the currency surged as a response to the first round of the French elections. Draghi would want to maintain the weakness of the euro, but then again this is somewhat impossible now that the region’s economic indicators are looking very positive.
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Post by luisforexmart on Apr 27, 2017 6:06:55 GMT -5
USD/JPY Fundamental Analysis: April 27, 2017
The USD/JPY pair reached its highest levels since March 31 during the previous trading session, although the currency pair was eventually pressured as the session draw to a close due to a slew of position-squaring and profit-taking prior to BoJ’s monetary policy meeting, In addition, the pair’s rally last Tuesday of 111.777, falling short of the March 31 high at 112.194. The USD/JPY pair ended yesterday’s session at 111.050 after dropping by -0.03% or 0.030 points.
During the early parts of yesterday’s session, the USD/JPY pair traded on a much higher note as the Bank of Japan was yet to release its news. The Bank of Japan is expected to maintain its current policies once the central bank announces the minutes of its policy meeting later today, with some analysts even saying that the BoJ could even possibly tone down its forecasts for inflation. Analysts are stating that the depreciation of the JPY as a reaction to the first round of the French elections has been a relief for the BoJ, and this is expected to take effect at least for the meantime.
Analysts are not expecting the Japanese yen to make any drastic movements once the central bank releases its monetary policy statement as well as its interest rate decision. The price direction of the USD/JPY pair is expected to be influenced by the movements of the US stock indices. If the earnings reports set to be released today are on a bullish note, then a risk-on session is expected, which will trigger the USD/JPY pair to move towards a much higher value.
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Post by luisforexmart on May 2, 2017 6:07:54 GMT -5
USD/CAD Technical Analysis: May 2, 2017
The U.S. dollar or Canadian dollar started with optimism on Monday session. Buyers stimulate the U.S. dollar to move higher overnight as it broke 1.3660 region and reaching the 1.3686 level during the middle Asian session. However, the further uptrend halted and started to decline. The resistance level is found at 1.3680 while the support positioned at 1.3610 level. The next resistance level goal would be at 1.3750. Overall, the technical indicators imply affirmative signs in trading.
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