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Post by luisforexmart on Jun 2, 2016 5:51:09 GMT -5
Technical Analysis for AUD/USD: June 2, 2016
AUD/USD returned to bearish territory after the pair shot up on Tuesday’s session thanks to better than expected GDP for the first quarter of the year. It was just several pips short of breaching 73 cents yesterday, but is now trading at 0.7234.
Australia’s economy grew by 3.1 percent year-on-year, largely eclipsing a forecasted 2.8 percent growth. The same period last year experienced a 2.9 percent climb. In quarterly measures, GDP rose by 1.1 percent versus a 0.8 percent projected growth and 0.7 percent in 2015’s fourth quarter.
We are waiting for trade balance and retail sales due today to lift the Aussie dollar against the USD.
The US matched Australian data with mixed figures, but a probable rate hike later this month is keeping the USD afloat against most major currencies.
Personal spending in April increased 1.0 percent from March’s 0.1 percent growth. This beats the expected 0.7 percent rise. Core PCE Price Index for April remained at 1.6 percent in annualized term, aligned with analysts’ expectations. Consumer confidence in May was down to 92.6 points from previous reading’s 94.7 points. It was expected to read 1.0 to read 96 percent.
The first support is at 0.7065 and 0.6827 subsequently. The first resistance is at 0.7243 and 0.7331 subsequently. The MACD indicator is in positive location. We are not expecting the pair to reach 0.73 levels in the near term. 
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Post by luisforexmart on Jun 3, 2016 5:29:15 GMT -5
Technical Analysis for EUR/USD: June 3, 2016
The Euro breached the first support at 1.1174 after ECB President Mario Draghi’s press conference yesterday was easily removed from the spotlight and replaced by incoming US labor data. EUR/USD is currently trading at 1.1156. NFP to be released later today is expected to provide downward pressure to the pair, along with a hawkish Yellen.
The ECB left interest rates at 0 percent. Draghi said that rates will remain low for a long time, but is positive that the Central Bank’s policies will pay off.
Eyes are now on nonfarm payrolls and unemployment rate on the US side, which are projected to be bullish. We are already seeing a firm US dollar, but the EU are still releasing rosy data at the time of writing.
The first support is at 1.1098 and 1.1025 subsequently. The first resistance is at 1.1220 and 1.1296 subsequently. The MACD indicator is in a neutral position. The price is rising
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Post by luisforexmart on Jun 14, 2016 2:51:25 GMT -5
Technical Analysis for AUD/USD: June 14, 2016 Australian markets are waking up after a public holiday yesterday for the Queen’s birthday celebration while the domestic currency is sliding down against the USD. Data from China pushed AUD/USD to 0.73 cents after topping at 0.7414 on Monday session. China is Australia’s largest trade partner. The Asian nation’s retail sales and industrial production rose in May but were 0.1 percent short of forecasts. Fixed asset investments also slowed down from April. The Aussie dollar was able to reach 0.7400 earlier today but immediately went down several pips, unable to sustain a test above the said level. It hit 0.7375, almost flooring down to our immediate support of 0.7374. On the domestic data front, the National Australia Bank Business Confidence revealed today printed 3 points, still above the dre The greenback is posting limited gains with economists divided on forecasting Fed’s interest rate decision which will be announced on Wednesday along with a statement from Chairwoman Janet Yellen. The immediate support stands at 0.7374 and 0.7292 subsequently, while immediate resistance is at 0.7414 and 0.7530 subsequently. The MACD indicator is in positive position. The price is rising.  |
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Post by luisforexmart on Jun 14, 2016 3:33:15 GMT -5
Technical Analysis for GBP/USD: June 14, 2016 Economic data coming this week are overshadowed by a gaining Brexit campaign. Research firm ICM’s latest survey showed the Team ‘Leave’ six points ahead, shaking the strength of the GBP which has been experiencing volatility in recent months. GBP/USD took a tumble in early session but has been playing teeter totter with each other. USD is on a volatile ride as well with the upcoming FOMC meeting on Wednesday. Thursday will see the Bank of England announce its interest rate decision that may help push the sterling to bullish territory. The pair is trading at a wide range between 1.3839 and 1.5931 on the daily charts. Traders are closely watching public opinion on the Brexit. Little impact is expected from the CPI and PPI today as well as from the unemployment rate on Wednesday. The first support is at 1.3839 and 1.3724. The first resistance is at 1.4232 and 1.4300. The MACD indicator is in negative position. The spot exchange is 1.4130 and continues to slide.  |
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Post by luisforexmart on Jun 15, 2016 5:05:00 GMT -5
Fundamental Analysis for GBP/USD: June 15, 2016 A latest survey showing that Vote Leave is points ahead dragged the British pound to 1.41 cents against a stronger US dollar. As the EU referendum approaches, the sterling is swaying nonstop due to voters’ sentiment and the release of poll results after another. TNS revealed yesterday that 47 percent of respondents wanted the UK to leave the EU, while only 40 percent wanted to remain a member of the bloc. GBP/USD fell to two-month lows. UK inflation in May was also on the red, printing only a 0.3 percent rise, similar to the same period last year. Analysts were expecting a 0.4 percent growth. In m/m terms, CPI also disappointed as it climbed by 0.2 percent, missing the forecasted 0.3 percent. Transport costs rose by 0.9 percent in Mayi from the previous month but was offset by declines in food and clothing. As we predicted, CPI didn’t have significant effect on the sterling especially because a Brexit poll was released in the same day. The Bank of England’s decision on its interest rate is next on the GBP’s economic headline. The USD performed slightly stronger than its counterparts with the release of positive retail sales which hit 0.5 percent m/m against a 0.3 percent forecast. Core retail sales was in line with expectations at 0.4 percent. Both exports and imports at 1.1 percent and 1.4 percent respectively eclipsed their forecasted rates. Atlanta Fed upgraded its GDP forecast for Q2 to 2.8 percent from an initial estimate of 2.5 percent. Strong retail sales was also viewed as a signal that consumer expenditure will most likely print robust numbers. We are looking at an immediate support of 1.4089 and 1.4040 subsequently, while resistance is at 1.4265 and 1.4350. The MACD indicator is in negative location. The spot exchange is at 1.4142 and rising.  |
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Post by luisforexmart on Jun 20, 2016 6:35:25 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 6:17:12 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 6:49:21 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 6:57:49 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 4:54:30 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 4:58:23 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 5:25:40 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 5:33:51 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 7:18:43 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 7:26:09 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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