Daily Market Analysis from ForexMart

[Andrea ForexMart]

Technical Analysis for USD/JPY: July 19, 2016

The USD/JPY pair clamped down an impressive pip average of 423 pips after the session closed down last week, the pair’s biggest weekly gain since October 2014. The pair doesn’t seem to be stopping these gains anytime soon, as this week’s opening proved to be favorable for the USD/JPY.

Sentiment has experienced a downgrade and is in its lowest level since January 2016. Meanwhile the SSI also went down at +1.15, the lowest reading since January 31, 2016, entering short into the USD/JPY.

The USD/JPY set its record of one of the highest pip sell off at 2,000 pips last January 2016. This sudden surge of the USD/JPY and a decrease in SSI readings might be even more favorable for traders if the prices can break newly-forming resistances.

 

[Andrea ForexMart]

Fundamental Analysis for USD/CAD: July 25, 2016

The USD/CAD pair closed last week’s session with a gain of 1.21% at 1.3128 points as the commodity prices weighed in on the pair and the USD rallied on the commodity currency. After the Brexit vote, forecasts regarding the international economy has been dim, together with views that monetary policy is slowly fading away, with more and more institutions relying on borrowing policies to survive.

With the November elections just a few months away, the United States is now facing a period of economic uncertainty. Political and economic risks are felt worldwide not just because of the Brexit, but also of numerous terrorist attacks, particularly in France and Turkey.

A significant downgrade in Canada’s economic growth forecast from 1.6% to 1.4% signals a rapidly weakening global economy and business investments. The commodity-rich country experienced wildfires in Alberta, one of the country’s primary oil resources, which caused May’s energy-production shutdowns, according to the Conference Board of Canada last Thursday. The IMF later confirmed Canada’s economic downgrade, after their forecast for the Canadian economy showed a dip at 1.4% from 1.5%.

 

[Andrea ForexMart]

USD/JPY Technical Analysis: July 26, 2016

The USD/JPY pair closed Monday’s session with a more stable position, after investors chose to wait out Bank of Japan and Fed’s meetings.

The Yen remained unchanged during Monday’s session, but its bearish views are becoming more favored by the minute. The pair’s resistance came in at 107.00, while its support remained at a standstill at 106.00. MACD experienced a decrease and remained on the positive side, which indicates the weakening state of the buyers’ positions, while the RSI is still on the neutral side.

The USD/JPY remains above the EMAs of 50, 100, and 200 in the 4-hour chart, with its moving averages all moving upwards. A downward surge may soon start if USD/JPY falls below the 105.30 support level. If buyers maintain their control, the pair may go up to 107.00 and possibly even up to 108.00.

 

[Andrea ForexMart]

NZD/USD Technical analysis: July 27 2016

Regardless of the news about the subsidence in the Trade Balance during the month of June, the NZ Dollar continued to increase at constant rate.

The currency rate of the NZD/USD sharply moved upward and dropped toward the resistance level of 0.7050. A break beyond the level of resistance or support made the bullish sign to fade considerably. The pair steep down the lower level at 0.7050 while bearish investors take control of the gaining market. As shown in the 4-hour chart of the NZD/USD currency pair, the resistance level is seen at 0.7050, the support lies at 0.6950.

The MACD is plotted along the centerline by which the histogram signals moves in the negative territory showing the strength of the seller but if the index swings to the positive territory, it only means that the buyers will keep control over the market. The momentum oscillator RSI is retraced to the area of the overbought condition in the market which may be observed as a sell signal.

As shown in the 4-hour chart, the New Zealand dollar was able to break the 50,100 and 200 day EMA . Though the bid or ask quotes did not pursue any further as well as the 100-EMA declined the currency pair, the moving average price of the NZD/USD is sloping downward with a bearish MACD which crosses over from the 50, 100, and 200 EMAs.

Trading analysts believes that the bearish market will continue to prevail in the market. Technically, the following stop price will be placed at 0.6980

 

[Andrea ForexMart]

GBP/USD Technical Analysis: July 28, 2016

The British Pound’s value decreased after Wednesday’s session in spite of the positive GDP data for the 2nd quarter of the year. But the sterling pound obtained support from the United States after the Fed’s decision to keep their rates unchanged.

The GBP/USD pair remained neutral all throughout the session last Wednesday, with its trading instrument maintaining a support of 1.3100. Meanwhile, the resistance amounted to 1.3300. MACD’s indicator has dropped near the centerline, which signals a negative outcome for this particular indicator. A lack of movement from the histogram and its refusal to leave negative territories will mean a significant increase in the strength of buyers. However, if the MACD returns to its positive state then the buyers will ultimately have the ball, while the RSI remains ambiguous.

A downward trend is also seen in the 50, 100, and 200-day EMAs, which eventually led to a bearish cross forming in the hourly charts. The instrument went over the said EMAs and went past the 1 hour chart.

Ultimately, trends are looking bearish, with the GBP/USD pair in danger of falling below 1.3100. But this does not not eliminate the possibility of the said currency pair experiencing an increase of up to 1.3300.

 

[Andrea ForexMart]

AUD/USD Technical Analysis: July 29 2016

The U.S Federal reserve remained their decision in keeping the rates constant but the dollar still falls below. The financial market is uncertain if the Fed will made some changes in U.S bank rates for the month of September.

The financial instrument stays well below from its daily high at 0.7550.The currency pair test the level 0.7500 and indicated a bearish side. The resistance level lies at 0.7600 while the support can be seen at 0.7500.

RSI occurred in the overbought market which implies a sell signal whereas the MACD depreciated by which resulted the position of the buyers to weaken.

The exponential moving average of the pair is directed to 50 and 100 day in the hourly chart. It also presented 50, 100 and 200 which are neutral moving averages.

In case that the price of the pair breaks beyond the resistance level of 0.7500 and bounds lower down the trendline is expected to continue. The next target of the investor is the support level at 0.7400.

 

[Andrea ForexMart]

AUD/USD Technical Analysis: August 1, 2016

The AUD/USD pair went significantly higher last Friday after the disappointment caused by the stimulus measurements of the Bank of Japan and the weak US GDP report. This increase was further augmented by the inflation data of the Australian market and the neutrality of the Federal Reserve monetary policy statement.

This coming Tuesday, investors are anticipating the rate statement of the Australian Reserve Bank, where a lot of investors believe that the central bank will decrease its benchmark interest rate 25-basis points from 1.75% to possibly up to 1.50%. The main trend went down after the Federal Reserve’s statement caused a volatile reaction. However, should there be a trade at .7675, the main trend may change according to the daily swing chart.

Friday’s close indicated a strong buying, after the testing of the retracement zone of .7490 to .7571 which has been tested all throughout the month of July, with its major range at .7834 to .7145. The retracement zone is now in control of the market’s long-term direction.

 

[Andrea ForexMart]

EUR/USD Technical Analysis: August 1, 2016

The price of EUR progressed towards the US Dollar subsequently when the GDP data of Eurozone eventuate. The statement of Fed with regard to inflation hawk resulted a possible rate hike for the U.S. dollar.

The EUR/USD pair transcend an upward trend on Friday. The financial instrument directed its highest possible rating approximately in the 1.1200 level. The resistance is set at 1.1200 level whereas the support lies in the 1.1130 level.

The ball bounces in a bull position as attested by the market indicators, the MACD moves within the positive zone which marked an increase in the histogram and registered the strength of the buyers. While the RSI entered the overbought territory.

The 4-hour chart identified the prices of the currency pair that stalled beyond the 200-EMA approaching to a higher probability of the 1.1200 region. The expected target will be in the levels of 1.1130 and 1.1200 due to the viable price return in the forex market.

 

[Andrea ForexMart]

USD/JPY Technical analysis: August 3 2016


The Japanese Yen viewed to increased at its 3-week high after the Prime Minister of Japan officially announced about the stimulus package to reinforce the Japan's economy.

The price movements of the pair in the intraday chart seems bearish since USD/JPY go through a downward pressure for the past week. The pair continued to mark down at 100.64 level. The current resistance comes in 101.40 while the level of support can be seen at 100.40

The momentum indicators, RSI and MACD is observed to create sell signals for traders. RSI moved into the oversold condition, at the same time the MACD indicated strength in the seller's position due to its downward movement.

Presented in the 4-hour chart is the price movement of the instrument that are approximately in the downward trendline that tapped out the 50,100 and 200 Day EMAs.

Trader's next potential target exists at 100.40 and speculated a short-term bullish call close to 101.40.

 

[Andrea ForexMart]

EUR/USD Technical Analysis: August 4, 2016

The EUR/USD is trading at a lower value inside yesterday’s range and during the mid-session, which hints at an impending volatility and an indecision among investors. The most recent data on private sector jobs from ADP, which is slated to come out at 12:15 GMT, is being anticipated by investors since the said report will show that there have been 170,000 jobs added by the US economy last July.

The said pair might have a stronger value if the ADP data released will be below the expected estimate. However, if the data comes out higher than expected, then this will drive the EUR lower and increase the value of the US dollar. According to the daily swing chart, the general trend is a downward surge, and even though the EUR/USD pair has increased its trading value since July 25, this has not affected the current trend. The pair is also still trading within the post-Brexit range in spite of its high-pointing momentum levels.

With the pair’s current pricing at 1.1197, the closest resistance point will be the Fibonacci level at 1.1229. A possible trigger for acceleration to the upside might happen if there will be an overtake of the weekly high at 1.1233 and the upward angle at 1.1286. This might also mean another point for a deeper rally at an angle of 1.1356. The EUR/USD will be in a bearish position if there will be a crossover to the weaker side of the angle, which is at 1.1146. This also means that there will be possible targets coming in a support cluster at 1.1092 to 1.1091.

 

[Andrea ForexMart]

NZD/USD Technical analysis: August 4 2016

As stated in economic news reports, work compensation in New Zealand speculated for 1.8% but labor price index releases 1.6% compared to their assumption.

The trades for kiwi remained under a negative situation and settled in bearish position yesterday. NZD/USD pair dropped to its lowest price at 0.7140. The resistance is deployed at 0.7250 with the support that appeared in the 0.7150 level.

The MACD is plotted in the positive signal. The histogram narrowed down and reduced the strength of the buyer. RSI has been in the neutral territory. The oscillator gradually declined

Moving average cross-over is presented in the 4-hour chart which indicated the EMAs 50,100 and 200 in an upward direction.

Analysts estimates that the market would shift to a bearish tone thus the seller's target comes in at 0.7050.

 

[Andrea ForexMart]

EUR/USD Technical Analysis: August 5, 2016

Recently, the euro dropped on the second day of the line. The base currency indicated a sluggish position despite of the progressed made by the USD. The investors shifted their focus towards the US non-farm payrolls data that will be issued today, since the Eurozone Economic Bulletin did not submit any relevant reports.

EUR/USD still spotted on the negative territory while the dollar is shown to trade in mixed trend yesterday and edged over euro. The resistance is placed at the 1.1200 level, the support is set at 1.1130.

The momentum indicator, MACD appears a divergence and indicated a sell signal while the RSI is approaching a downward position since it departed outside the overvalued area.

According to the indicator chart, the financial instrument returned to the 50-EMA and crossover the 100 and 200-EMA resulting to a neutral position.

If a price break occurred and the support level is less than 1.1130, therefore a downturn will yield out from 1.1050 to 1.1000.

 

[Andrea ForexMart]

GBP/USD Technical Analysis : August 9, 2016

After the cut rate handed by the BoE so as to avert the unfavorable impact brought by Brexit, the sterling pound remained closed at Friday.

The GBP/USD continued to perform a short-term bearish pattern. The price of the pair is placed between 1.3000 and 1.3100 levels. Following the support stands at 1.2900 while the resistance is established at 1.2900.

The momentum indicators, MACD and RSI disposed a sell signal which changed the indicators slightly on Friday.

The trading instrument continuously move below the 50,100 and 200 EMAs as presented in the 4-hour chart.

The GBP/USD is expected to mark a downward trend towards 1.2900 since the pair's outlook would gain a temporary growth close to 1.3175 at which the 50 and 100 EMAs exists.

 

[Andrea ForexMart]

AUD/USD Technical Analysis: August 10, 2016

The National Australia Bank indicated a downward direction in Business Conditions. Aside from it, the financial markets sustained under pressured condition just as when oil prices had a markdown.

AUD/USD established a positive result on Tuesday since the movement of the financial instrument progressed upward near its upper limit. The resistance stands at 0.7700, the support can be seen at 0.7600.

As expected, the MACD is situated in the positive zone. MACD histogram ascended and determined the strength in the buyers. The RSI arrived in the overbought condition.

The price of the pair oscillates in the 1-hour chart with 50-EMA. Its 50,100 and 200 day EMAs remained to upsurge, therefore all EMAS are in a higher position.

AUD/USD is expected to have a short-term recovery close to 50-EMA or 0.7600 level whereby the pair is overbought and the currency price is going to have a growth and increase in the investment price.

 

[Andrea ForexMart]

USD/JPY Technical Analysis: August 11 2016

Current updates about the increased in the funds rates of U.S Fed for this year seems uncertain for the market since the pair USD/JPY gained a lower position and its trading position swing lowers and reached a downtrend risk with 101.00 level of support.

The resistance level of the pair is positioned at 101.40, the support can be seen at 100.40

The momentum indicator MACD turn over the negative zone whereby identifies the seller's strength, RSI has been settled in the oversold position.

Presented in the 4-hour chart, the USD/JPY is inclined to the 50-EMA but move away again from it though the 50-EMA sustained an overwhelming level of resistance placed in the region of 102.00. The pair intersects in the 50, 100 and 200 moving averages directed towards the lower level of the selected time frame.

Since the pair is highly pressured, the recent price of the pair is expected to expand in the 102.00 economic region where the 50-EMA is spotted. The pair's price may also move back and forth at the level of 100.40.

 

[Andrea ForexMart]

USD/JPY Technical Analysis: August 12, 2016

The USD/JPY pair weakened further following the release of the Jobless Claims Report, with traders clamoring for a response from the Bank of Japan. Should the weak state of the pair continue, then the BoJ will have to release a statement sooner or later.

Thursday’s session showed a remarkably low volatility in the market which only became active after the release of the US Jobless Claims Report. A positive US labor data strengthened the USD, causing traders to push prices upward. The instrument rallied at 101.40 and broke the level, with the resistance coming in at 102.50 and support levels at 101.40. The MACD is currently at the center level, and a histogram entry at the positive side will mean an increase in buyers’ strength. On the other hand, sellers will regain its control of the market should the MACD go over the negative side. The RSI indicator is projected to increase after going over the oversold area.

The 50 and 100 EMAs were broken by prices in the 1-hour chart, after which the EMA pairs further increased its strength. The 200-EMA now acts as a barrier for the USD/JPY pair, with the moving averages going down within the said time frame. The USD/JPY will possibly move to test the next bullish target at 102.00, along the area of the 200-day moving average.

 

[Andrea ForexMart]

NZD/USD Technical Analysis: August 12 2016

Subsequent to the decision of the RBNZ to implement an interest cut rate of 0.25%, the New Zealand's currency increased on its one-month high. Upon arriving at its highest level, the NZD/USD have regressed towards a downward state. The mark price directed from 0.7335 to 0.7225. The resistance stands at 0.7250, the support can be seen at the level of 0.7150.

As shown in the histogram, MACD sloped move towards a lower point and the pair signalled a seller's strength. Furthermore, the fluctuated in the overbought position.

The price of the pair is heading to 50-EMA as indicated in the 1 hour chart . The 50, 100 and 200 EMAs ascended to the top.

Analysts viewed the pair to be bearish and remained to be under-pressure. Trader's stop is situated at the 0.7150 region.

 

[Andrea ForexMart]

Technical Analysis for AUD/USD: August 17, 2016

The AUD/USD pair closed down Tuesday’s session on a slightly higher level, after the trading range widened following traders’ reactions to several financial events. The AUD was previously subject to pressure after a statement from RBA can possibly mean that the Reserve Bank of Australia might be considering another interest rate cut. However, the USD went down following dovish comments from Fed, increasing the overall value of the Aussie.

Investors are now awaiting the release of the Wage Price Index, and economists are expecting the quarterly report to be at 0.5%. However, union members are expecting a weaker range for the Wage Price Index, which can lead to volatility after its release. The Fed will also be releasing its July meeting minutes and traders will be anticipating the next scheduled rate cut.

The daily swing chart is showing a generally upward trend, although momentum has a possibility of going downward. Based on the pair’s current pricing at .7690, the AUD/USD pair’s direction will likely be determined by the reaction of traders to the .7695 short-term pivot. An increase in selling pressure is possible should there be a downward bias on a sustained move under .7635, while an upward bias will develop if there is a sustained move over .7755.

 

[Andrea ForexMart]

USD/JPY Technical Analysis: August 18 2016

During the Asian trades session, the pair had restored its position to JPY 100.77 and stops at the 101.14 area which sets off the USD/JPY pair to lead with a rate of 100.74. Furthermore, the rate of the USD increased with the aid of the NY Fed President Dudley whilst the yen became weak due to its prime minister who allowed the intervention of the financial regulators whenever the levels of the rate remained indecorous.

The pair is anticipated to trade over the level of 100.77 and the range of the limit is JPY 99.90-JPY 101.67 and descends perfectly.

 

[Andrea ForexMart]

EUR/USD Technical Analysis: August 19, 2016

As presented over the 4-hour chart, the euro and dollar reached an indecision level since the US Dollar further weakened. The time frame of the currency pair maintained a higher point of movement thus heading on an accelerated trend lines.

The increase of EURUSD is pulled by the resistance level of euro whereby set at 1.1320, the support comes between the Eur 1.1207-Eur 1.1230.

The pair is predicted for probable decrease in distinction to EUR 1.1320. The procurement of a long investment position is suited on settling against the said level.