Forex Forum to Share, Discuss, Communicate and Trade Forex

Daily Market Analysis from ForexMart (Technical)

Discuss Technical Analysis for various currency pairs and share your views. You may also like to check our Forex technical analysis and Forex forecast sections.
Image

Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Fri Dec 01, 2017 4:36 am

EUR/USD Technical Analysis: December 1, 2017

The EUR/USD pair rose because of strong yields as it gained strength after inflation from France and a positive Chinese PMI manufacturing data. The Eurozone inflation came our dovish which resulted in a higher euro major currency pair.

The EUR/USD pair rally as it bounced to the support area close to the 10-day moving average at 1.1836. The resistance was found near the weekly highs at 1.1961. There is a neutral momentum seen in the trend as the MACD was printed in black with a flat trajectory that could lead to a consolidation. The RSI index climbed higher because of the positive impetus in the market.


EURUSD01.png
EURUSD01.png (23.17 KiB) Viewed 104 times
Andrea ForexMart, Official Representative
ForexMart
User avatar
Andrea ForexMart
 
Posts: 782
Joined: Thu Jul 21, 2016 3:14 am

Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Thu Dec 14, 2017 7:35 am

EUR/USD Technical Analysis: December 13, 2017

The EURUSD edged downwards as the German investor confidence came in weaker than predicted results, along with the robust figures of American inflation data that reinforced the US dollar and put pressure on the single European currency. Small business confidence in the United States also showed secured position combined with strong U.S. chain store sales.

Originally, the euro-dollar pair trailed lower on Tuesday and drove upwards to test the resistance at 1.1819 area near the 10-day moving average. The support of the pair touched the 1.1675 region around the ascending trend line. While prices generate a topping formation and market participant anticipates for the Fed decision as the central bank is highly expected to increase interest rates in the US by 25 basis points. The momentum became negative and the MACD indicator created a crossover sell signal. The moving average convergence divergence further prints in the red with a descending trajectory which implies for a lower exchange of rate.
Andrea ForexMart, Official Representative
ForexMart
User avatar
Andrea ForexMart
 
Posts: 782
Joined: Thu Jul 21, 2016 3:14 am

Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Fri Dec 22, 2017 10:16 am

AUD/USD Technical Analysis: December 22, 2017

The Aussie dollar traded sideways initially amid Thursday’s trading session, however, it moved higher following a weaker numbers of American GDP. This further caused the greenbacks to decline while providing a slight increase towards the Australian dollar during the day.

Nevertheless, the AUD/USD pair trades in a low-volume at the margin during the day and traders are concerned to the approaching holidays in contrast to the currency markets.

It can be assumed that a break down under the 0.7625 area will push the market downwards reaching the 0.75 handle. It appears that the AUD will have some difficulty in moving higher to the upside, as a result, sellers manage to conduct a return. Perhaps, the market is easier to short at higher levels, but for now, it is suggested to stay on the sidelines until the volumes return.

There are some resistance barriers throughout the way which could make a difficult course to drive upwards. Hence, buying the commodity-linked pair seems to be under pressure. On the other hand, there’s no any shorting opportunity due to rally attempts by the market. The ability to roll over will push the market quickly, but it is impossible to see until after the New Year’s Day. Therefore, the market is expected to be difficult to deal with.

AUDUSD22.png
AUDUSD22.png (23.29 KiB) Viewed 65 times
Andrea ForexMart, Official Representative
ForexMart
User avatar
Andrea ForexMart
 
Posts: 782
Joined: Thu Jul 21, 2016 3:14 am

Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Wed Jan 03, 2018 8:15 am

EUR/USD Technical Analysis: January 3, 2018

The Euro against the U.S. dollar climbed higher testing the resistance levels because of the exceedingly strong results of the manufacturing PMI following hints of the ECB meeting to end the quantitative easing in 2018. The European Central Bank has adjusted to the situation but with a steady inflation and progressive growth propelled the euro at a much higher rate.

The EUR/USD pair reached close to the September high at 1.2092 but was unsuccessful in breaking this rate. A strong euro has put pressure on the European stocks putting corporations into the lesser advantage against their competitors. The support level is found close to the 10-day Moving Average at 1.1920. The MACD histogram has been positive as it is printed in black with an upward sloping trajectory which could lead to a much higher Forex rate. The RSI indicator also gives an increasing positive momentum although the current rate is at 71. This is much higher than the overbought level of 70, which hints the possibility for a correction.


EURUSD03.png
EURUSD03.png (22.51 KiB) Viewed 44 times
Andrea ForexMart, Official Representative
ForexMart
User avatar
Andrea ForexMart
 
Posts: 782
Joined: Thu Jul 21, 2016 3:14 am

Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Mon Jan 08, 2018 8:02 am

NZD/USD Technical Analysis: January 8, 2018

The New Zealand dollar was able to break higher upon the opening session on Monday, however, took a reversal throughout the week to move lower and fill the gap. In line with this, a sufficient support was seen and bounced to the upside. The day closed with a slight formation of a hammer pattern, which implies that buyers will return to the market.

It is possible that the Kiwi dollar will resume driving near the top of the overall consolidation zone, marked on the chart around 0.75 area. The 0.68 region below is considered highly supportive and basically the “floor” in the NZD/USD pair.

It remains to be seen prior shorting this market despite the noticeable breakdown underneath the bottom of the hammer for the week appears to be negative. But 0.70 level seems to be supportive which requires some time before taking long positions.

In case that commodity markets would rally in general, the upward trend would likely to continue. However, the current situation is slightly overbought which could possibly be followed by a pullback that should only offer value going forward. This is because the American currency was very weak versus other currencies. The market remains to have plenty of noise but a significant amount of bullish pressure is expected in order to continue moving forward. The highs will be tested again and will eventually break out.

NZDUSD08.png
NZDUSD08.png (22.85 KiB) Viewed 29 times
Andrea ForexMart, Official Representative
ForexMart
User avatar
Andrea ForexMart
 
Posts: 782
Joined: Thu Jul 21, 2016 3:14 am

Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Thu Jan 11, 2018 5:09 am

NZD/USD Technical Analysis: January 10, 2018

During the trading course on Tuesday, the New Zealand dollar appears to be choppy and mainly negative. The marketplace is characterized as wrist sensitive because the NZ dollar is generally influenced by “risk appetite” and commodity markets. Aside from that, there exist a dollar bias that further leads the market.

The 0.7150 mark looks like offering some kind of support for the NZD/USD currency pair, which appeared to be really strong lately. But the markets are consolidating which means that pullbacks are expected to attempt establishing momentum in order to resume the move to the upside. The longer-term charts imply consolidation between the 0.68 region on the bottom and 0.75 level above, which caused the market to resume further consolidation but the situation is regarded to be larger and longer term.

There is a tendency for the market to continue buying on the dips due to inability to reach the top of the consolidation zone after the rebound from the bottom. The Kiwi dollar would likely be slightly oversold, therefore, it is acceptable for some recovery and normality. Upon the breakdown, a significant support at the 0.71 handle should be expected which is previously a significant resistances and accompanied by a large gap since the past few weeks. Most likely, the American currency will continue to lose it strength.

NZDUSD10.png
NZDUSD10.png (26.69 KiB) Viewed 19 times
Andrea ForexMart, Official Representative
ForexMart
User avatar
Andrea ForexMart
 
Posts: 782
Joined: Thu Jul 21, 2016 3:14 am

Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Thu Jan 18, 2018 5:26 am

USD/JPY Technical Analysis: January 17, 2018

There has been a choppy trading for the U.S. dollar during the Tuesday session, the day of returning to work for Americans. Looking at the hourly chart, a slight downward occurred. There are also some major levels and expect the presence of noise in the market.

The U.S. dollar swayed back and forth yesterday. The next trading level would be at 111 which is a bit resistive. If the market breaks higher, it will probably be at 112 which has been significant in the past. It seems that there will be downward pressure and push the market towards 110. Overall, there will be noise in the market that puts the global economic outlook at a better position and at the same time, there is general selling of the U.S. dollar.

Hence, there will be high volatility in the market, which will attract more traders. If the pair breaks lower than the significant level of 110, the market will probably move down towards 108 soon after. Moreover, there are a lot of areas to cover which will highlight every 100 pips. Amid the presence of noise, the market could bounce back which would become an important pullback.

USDJPY17.png
USDJPY17.png (23.04 KiB) Viewed 6 times
Andrea ForexMart, Official Representative
ForexMart
User avatar
Andrea ForexMart
 
Posts: 782
Joined: Thu Jul 21, 2016 3:14 am

Previous

Return to 2+1 = 3 - Technical Analysis Discussions

 

Who is online on Forum

Registered users: Alexa [Bot], Baidu [Spider], Bing [Bot], Yahoo [Bot]

cron