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Daily Market Analysis from ForexMart (Technical)

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Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Mon Jul 25, 2016 8:36 am

Hello forum members!

Good day!

I am Andrea, an official representative of ForexMart.

Me and my colleagues will provide you daily forex analysis on this thread to help you increase your trading efficiency as well as maximizing your profit. Suggestions, comments or opinions are all welcome. We will also be glad to attend to your inquiries.

We hope to hear from you soon!

Thank you!

Best regards,

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NZD/USD Technical analysis: July 27 2016

Postby Andrea ForexMart » Wed Jul 27, 2016 10:46 am

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


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Fundamental Analysis for EUR/GBP: July 29, 2016

Postby Andrea ForexMart » Fri Jul 29, 2016 9:51 am

The EUR/GBP pair increased by 62 points after the euro went up and the sterling pound declined during Thursday’s session. The currency pair is presently trading at 0.8425 points. The British pound still continued its decline even after a reported second-quarter increase in UK’s economic growth, whose increase was initially seen to be a positive sign for the currency pair.

The UK economy went up by 0.6% during the second-quarter which was sealed by the controversial Brexit vote, a significant increase compared to the 0.4% during the first quarter of 2016. The British pound plummeted its lowest in two weeks after Bank of England policymaker Martin Weale said that PMI surveys would be of importance during BoE’s next policy meeting. He also added that in order for an interest rate cut to happen, there must be a concrete evidence of the UK economy losing its strength.

In July, the Bank of England shocked the financial market when it refused to snip the benchmark for the borrowing cost from its all-time low of 0.5%. However, decision details from last week’s BoE meeting showed that most policymakers will be expected to endorse a yet unknown set of measures in order to help strengthen Britain’s economy.


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AUD/USD Technical Analysis: July 29 2016

Postby Andrea ForexMart » Fri Jul 29, 2016 10:27 am

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.


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AUD/USD Technical Analysis: August 1, 2016

Postby Andrea ForexMart » Mon Aug 01, 2016 9:40 am

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.


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EUR/USD Technical Analysis: August 1, 2016

Postby Andrea ForexMart » Mon Aug 01, 2016 10:06 am

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.


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Re: Daily Market Analysis from ForexMart (Technical)

Postby Andrea ForexMart » Wed Aug 03, 2016 10:19 am

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.


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Trader's next potential target exists at 100.40 and speculated a short-term bullish call close to 101.40.
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EUR/USD Technical Analysis: August 4, 2016

Postby Andrea ForexMart » Thu Aug 04, 2016 6:49 am

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.

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NZD/USD Technical analysis: August 4 2016

Postby Andrea ForexMart » Thu Aug 04, 2016 9:36 am

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.


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EUR/USD Technical Analysis: August 5, 2016

Postby Andrea ForexMart » Fri Aug 05, 2016 8:42 am

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.

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