official Daily Market Analysis From Forexmart.eu

[Andrea FXMart]

EUR/GBP Technical Analysis: June 1, 2017

 

The Euro against the British pound was highly volatile during the Wednesday session. It is being in tested in the upper channel and a pullback was seen reaching the opening for the day. The market is attempting to gain sufficient impetus to break higher than the 0.88 level followed by 0.90 level.

 

In the long-term, this pair seems to be much stronger although there is a lot of noise found in the upper channel causing the choppiness of the market. The market might move slower especially with various major reports from the European Union and Britain. Same goes for Brussels and London which will be the center of attention and this market can be easily affected by these outside forces.

 

It won’t be long before this pair rallies upward and it is advisable to either buy after a breakout or be more careful and wait on the sidelines. Selling might be more difficult for this pair neither placing a short-term orde. However, a move lower than the 0.86 handle is a good thing although it seems that the buyers dominate participants but might now last in the current condition of the market.

[Andrea FXMart]

USD/CAD Fundamental Analysis: June 1, 2017

 

The USD/CAD pair was able to advance further towards its range highs during the previous session in spite of the greenback suffering blows against other major currency pairs due to a series of disappointing economic data from the US economy. The loonie is now trading at just above 1.3500 points which is considered to be a very essential trading region for the currency pair. However, the market has yet to see whether the USD/CAD pair will indeed manage to go even higher and reclaim its bullish price action or if it will correct and return to its previous trading range.

 

This surge in the value of the USD/CAD pair has been mostly attributed to a string of weak economic data from Canada. As the Canadian GDP was released during yesterday’s session, the annual and quarterly readings for 2016 disappointed the market in spite of a very positive monthly reading. This was far worse than what the market had initially anticipated and has caused the loonie to correct and the USD/CAD pair to increase further in value. Oil prices also dropped while the Canadian inventory data showed a solid draw in addition to an added increase of Libyan production data. This caused both the Canadian dollar and oil prices to drop and was more than enough for the currency pair’s bulls to help prop up the value of the USD/CAD pair past 1.3500 points where it is currently sitting as of the moment.

 

For today’s session, the market is expecting the release of unemployment claims data and the ADP employment report from the US economy, both of which are of utmost importance since this serves as a precursor to the incoming NFP report due tomorrow. The oil inventory data is set to be released today, and this, together with the NFP report will most likely determine the short-term price action of the USD/CAD pair.

[Andrea FXMart]

AUD/USD Technical Analysis: June 2, 2017

 

The Australian dollar against the U.S. dollar did not have a good trading session on Thursday. It breaks at the 0.74 level followed by a rebound towards the 0.7420 region. Since then, the market declined and broke to a fresh new low. Currently, the pair is depreciating and makes it more vulnerable to further decline especially since the jobs data will come out today.

 

If the jobs data met the expectations, then this will most likely push the currency lower towards the 0.73 handle. However, if the pair moves in the upper channel then this would open opportunities to buy this pair especially if it breaks higher than the 0.7475 region. Although, we cannot be certain of now if this would occur since the market is still undecided on which direction to choose.

 

The next target for this pair is 0.73 level with the tendency to move forward which makes it more favorable for selling. The market already anticipates this and it will be good to follow so.

It seems that the currency is having a difficult time while the New Zealand dollar is performing better. Even so, traders still opt for the Aussie but traders should be cautious in buying this pair in the current low levels.

 

Overall the pair is sold-off by traders and it is reasonable to move along with this move. However, if this pair opens for the 0.73 region, this will push the price to lower levels immediately.

[Andrea FXMart]

NZD/USD Technical Analysis: June 2, 2017

 

The Kiwi dollar declined in the day during Thursday trade while testing the mark 0.7050. Despite the choppiness of the market, the New Zealand currency have the possibility to beat the Australian dollar. It does not mean that the market will establish an optimistic stance, rather it will become more resilient. The market will search the level below 0.70 because this holds a nice large figure, however, the release of US employment figures on Friday involves plenty of noise.

The market will found the resistance on top of the 0.71 handle and the rally will soon fade away because the mentioned region seems resistive. As indicated on the higher level of the chart, some type of channel are trying to develop.

 

The NZDUSD is not easy to deal with because it is the least liquid among major pair and when the announcement is made, it would likely to have a violent move. With this, it is suggested to steer clear from the commodity-linked pair as this could lead you to pain if you did not take proper caution. The ability to break down under 0.70 region would break down significantly. It signals a longer-term indicator, either way, it could toggle continually moving a gradual ascending grind.

 

As the market maintain a choppy stance, lots of opportunities were also offered.

[Andrea FXMart]

GBP/USD Technical Analysis: June 5, 2017

 

The GBPUSD declined on Friday and face through some volatility as the U.S. employment figures released with a lower than anticipated results.

 

The market now appeared to hover below the 1.29 handle considered as a major level. The ability to break on top of the said region would lead the market towards 1.3050 area which provided a significant resistance.

 

Buying on the dips remain to be the most suitable way in playing the market beneath 1.2850 that has been offering an amount of support. Meanwhile, a break over 1.29 range would trigger a continuous higher movement. In the long term, buyers will still get involved and show further strength sooner or later.

 

Headline risk could still remain since concerns regarding British exit keep forging ahead. This might influence the sterling in any moment. Ultimately, the pair can find a bottom upon staying beyond the level 1.2750.

 

Moreover, the built-in bid resumes in regards to the GBP. An attempt to move ahead the 1.3450 handle should be done. However, lots of issues and concerns surrounds the British economy, therefore it may take some time to reach the target. Selling is ruled out except when we cut through down the 1.2750 area.

[Andrea FXMart]

EUR/USD Technical Analysis: June 5, 2017

 

The EURUSD moved through an upward direction on Friday after the release of weak data on employment report. The U.S yields further weakened as prices ascended at a faster pace compared with the European bonds. This made the euro lure attraction of investors prior the ECB meeting scheduled next week.

 

The European producer price manifested stronger figures, beating expectation which paved the way for a higher rate on the pair. The pair had broken out on the back of a bull flag formation which serves as a pause to refresh higher.

 

The prices increased by 1.1282 region just shy of 1.1299 close to November 8 highs. The next resistance target is found at the mark 1.1365 near the highs of August 2016. The support reached 1.1206 area around the 10-day moving average.

 

The momentum came in neutral while the MACD histogram printed nearby the zero-index level whereas the index appeared to be in a flat trajectory suggesting for a consolidation.

[Andrea FXMart]

USD/CAD Fundamental Analysis: June 6, 2017

 

The USD/CAD pair continues to exhibited a very tight price action as the pair’s bulls and bears continue to fight out for the control of the currency pair and is expected to remain as the pair’s dominant trend in the short-term period. The pair has been trapped in a very limited range ever since the currency pair managed to push forward past 1.3500 points with buyers dominating the 1.3400 trading range.

 

During the past few days, oil prices have remained stable, thereby decreasing the amount of leverage it gave to the Canadian dollar and was one of the reasons why the loonie was unable to take full advantage of the dollar weakness which was due to a series of dismal US employment reports last week. Oil prices has also continued to be very disappointing due to rising tensions in the oil-rich Middle Eastern countries and has subsequently diminished its support for the loonie. In spite of the pair making a headway towards 1.3460 for a short while, it was almost immediately met with several buys, causing the USD/CAD pair to retreat towards 1.3500 points, where it is expected to stay put at least in the coming days. The market is now preparing itself for the trading sessions on Thursday and Friday as the currency pair would most likely undergo a volatile trading session due to Comey’s testimony as well as the release of the Canadian employment report on Friday. This is why traders are advised to remain in the sidelines until such time that a break shows up on the pair’s range before inducing any kind of progress in their trades.

 

For today’s session, there are now major releases from both the US and  the Canadian economy and the USD/CAD pair is expected to continue consolidating throughout the duration of today’s session.

[Andrea FXMart]

NZD/USD Technical Analysis: June 6, 2017

 

The New Zealand broke in the lower channel during the Monday session. Later, the trend bounced off to fill the gap then declined again. There is massive support found in the 0.71 below which triggered the market to rise again as it reached the former break level. Currently, the market is attempting to move higher as it gains momentum to reach the 0.7150 region which would hint a bullish sentiment.  

 

The market could also retreat from this level towards the 0.71 handle once more. Overall, there will be high volatility and persist for some time in the market since the New Zealand dollar is relative to commodities market which always changes. Hence, the currency is expected to be traded with a choppy environment.

 

Buying on the lows is advisable for this pair and is not surprising for them to return as the trend moves in a downtrend. However, shorting this pair may not be the best move. If the price breaks lower than the 0.71 handle, the next move would be to go downward toward the 0.7050 level.  

 

Nevertheless, the market will be very choppy driven by geopolitical risks and in consideration of its sensitivity opting the U.S. dollars as a safety currency while the kiwi being the riskier one in this pair. Volatility is also anticipated to persist in either direction it goes.

[Andrea FXMart]

GBP/JPY Technical Analysis: June 6, 2017

 

The British pound against the Japanese yen broke on the lower side during the Monday session which was upturned indicating bullishness in the trend. It is directed towards the 143 level and higher up that fills the gap. There is a robust resistance seen in the previous trades that makes the reversal unexpected. However, if the price is set higher, this would persist to an elevated level pointed to the 144 region.

 

It is anticipated to have volatility for this pair regardless of the next move since the market is in a “risk on” or “risk off” sentiment. Moreover, the British elections worsen the situation as it affected the British currency that brings unpredictability in the market until the election on Thursday. Other global economic concerns will also affect the trend.

 

Volatility is the current focal point of the market and if it gaps more than the 143 region, more buying opportunities will come out for the market. However, if the election polls showed conservatives leading in Britain, this push this pair aimed higher with chances to break higher than the 144 region then shift towards the 145 handle.

 

Traders should not expect that trading this pair would be easy that makes trades on small positions to be ideal for this pair or one could opt to wait in the sidelines as GBP/JPY is one of the pairs risky to position in the market.

[Andrea FXMart]

NZD/USD Technical Analysis: June 7, 2017

 

The NZDUSD rallied amid trades on Tuesday and broke the level on top of 0.7150 smoothly. The Kiwi dollar continued to search for buyers on dips and tend to handle some pullback as an opportunity to increase rate.

 

The market tried to touch the region above 0.72, en route 0.75 afterwards. As shown in the chart, the area around 0.71 handle provides a lot of support and regarded to be the floor of the market in the near-term uptrend. The commodity space continues to weigh on the market and the NZD seems to be the “barometer” towards the overall sentiment of futures trading. Watch closely for the commodity because it could possibly show the way.

 

It could be a good move to buy dips moving forward because it suits the current status of the New Zealand currency. Selling remains impossible as far as we breach under the 0.71 mark. A successful break down prompts the market to reach the range below 0.7050 which is very supportive previously, along with the 0.70 region. In any case, the market remains to be volatile, however, the moving averages came in reliable, particularly the 48-hour MA shown in green color, hence it should offer further buying opportunities.

 

The volatility driven market persists, but the late impulsivity indicates that buyers begin to develop more confident as it moves ahead. Moreover, the dips will provide value which is an advantage to market participants.

[Andrea FXMart]

GBP/USD Technical Analysis: June 7, 2017

 

The GBPUSD had attempted to rally yesterday, however, retreated to the level 1.2950 to return underneath the 1.29 handle. In the past few sessions, the market appeared to have a little bit of overall bullish pressure, waiting for the results of UK elections expected tomorrow. In this case, the market will probably experience choppiness and unprepared to conduct a significant move yet. Short-term volatility is predicted along with some choppy spots but a general ascending momentum should also be anticipated. It does not mean that a pull cannot be accomplished, it only implies that longer-term charts and the range below 1.2750 should offer massive support that will surely lure the attention of the majority of market participants.

 

After the session on Friday, the long-term outlook for the pair shall be available as it could be very difficult from this moment and the next.

 

Buying the dips remains to be the best option for the Cable but the dips showed to be somewhat steep. You should have got small positions as of now and after the election results in order to acquire lesser damage that might suddenly arise.

 

Markets have lots of speculation regarding the election decision, therefore a cool level head should be maintained as this is crucial for the following sessions.

 

In the longer-term, the pair might break the 1.3050 mark as it allows the market move higher freely, or maybe reach its long-term target found at the region 1.3450.

[Andrea FXMart]

EUR/USD Technical Analysis: June 7, 2017

 

The EURUSD aimed to make a rally during Tuesday session but look for a strong resistance around 1.1280 region to make a reversal. Then, rebounded through the 1.1240 mark.

Meanwhile, the market remains to be bullish and attempted to front run the monetary policy statement of the European Central Bank.

 

The ability to break out in the upside enable the market to move towards the area on top of 1.13. The 1.15 range is the top of the latest consolidation seen in the EUR/USD for the past years.

 

Moreover, the market might experience difficulty in breaking above the mentioned range, however, series of attempt were made to get through the area and identify its capacity to hold on.

Buying in the dips resumes progressing forward despite anticipated noise.

 

As the Britain will leave the European Union, there is a chance that some statements will weigh against Euro’s value. Either way, the interest rate hikes from the United States may catch more attention.

 

A breakout to the upside is possible while the 1.12 market must be the “floor” in this market.

[Andrea FXMart]

Goldman Sachs Higher Rates to Gain More Clients

 

The Goldman Sachs Bank U.S.A. intends to increase its rates on client deposit by 1.2 percent from the previous 1.05 percent. The rate hike makes them higher than other financial institutions including CIT Bank, Synchrony Bank, and New York Community Bank's My

Banking Direct. The average rate is at 0.06 percent 0.06 percent as reported by the U.S. Federal Deposit Insurance Corporation.

 

They are searching for ways to improve lending in money management and investment banking category which they said to had a rough time with. In 2016,  they introduced Marcus as their primary approach to consumer lending. This rate hike move hopes to expand profit of Goldman Sachs and appeal to additional Main Street clients which will eventually give bigger gains. Also, these deposits open a more robust type of funding and this would have stayed longer during uncertainty.

[Andrea FXMart]

USD/CAD Technical Analysis: June 8, 2017

 

The USDCAD go through sideways amid Wednesday’s trades and attempted to push downwards reaching 1.3425 handle. After that, the market had broken out to the upside on the back of releasing the figures of  Crude Oil Inventories. The number showed that oil demand declined again while the greenbacks broke to upside and collapse over the 1.35 handle.

With this, the commodity-linked pair is preparing to resume the longer-term uptrend with anticipation that buying dips will progress.

 

The Canadian dollar is expected to struggle as demand continued to be sluggish relative to the crude oil market. A break on top of 1.36 handle prompts the market to move forward near 1.40 region eventually. As buying dips in the near-term will persist, selling the market seems uninteresting. The U.S. dollar has to extend its gains versus the loonie because the oil keep on dragging the currency in the longer-term

 

A breakdown or pull back cause buyers to missed the trend during the announcement.

The position on the lower level showed plenty of choppiness, hence, down there might have the same degree of irregularity because support will be provided for pullbacks. Therefore, expect a lot of order flow accompanied by “market memory found in the lower areas.

[Andrea FXMart]

USD/CAD Fundamental Analysis: June 9, 2017

 

The events happened yesterday unexpectedly wrought a slight impact against the USD/CAD, as well as to other currency pairs. However, there are predictions that it would be an explosive day yesterday due to incidents lined up while traders work late at night to secure a safe position and to keep their trades well but everything turned out to be less impressive and unexciting.

 

The said events are as follows; the decision of ECB to hold its rates paired with the announcement on inflation targets and increasing growth outlook, though it is obviously has nothing to do with the pair. Next is the testimony of Comey after he accused US President Trump with lots of things.

 

These scenarios were unable to move the dollar and any movement only indicates an insignificant strengthening of the greens that lead the USDCAD near 1.35.

 

In relation to the Canadian dollar, BOC Governor Poloz delivered a speech expressing his delight about the current condition of their economy. He also stated that he was comfortable regarding the price trend in the housing industry. The neutral tone strike by Poloz reflected towards the commodity-linked pair which continuously trades in a steady and unspecified direction.

 

Later this day, the Canadian employment figures is anticipated to be release that would likely cause volatility. If the report showed a stronger result, it would help the pair to reach the lows of its tight range close to the 1.3450 level.

[Andrea FXMart]

GBP/USD Technical Analysis: June 13, 2017

 

The British currency has an insignificant performance during Monday opening as the Europeans came back from behind. There is a gapped in the level 1.2750 and broke down towards the 1.2650 region. The market persists to show a massive bullish pressure considering that uncertainties wrought from the election will probably influence the sterling in general.

With this, the rallies could possibly provide some selling opportunities, however, a break on top of 1.28 region signals a bullish stance. And the market will move near above the 1.29 handle. Volatility is highly expected because of the trends influenced by headlines.

 

The sell rallies will continue on short-term charts which give indicators of exhaustion.

In case the bearish pressure remains, the market will come under 1.25 handle and keep on struggling because of indecisions on the United Kingdom along with the interest rate hikes to be implemented by the United States later this year

 

There are few reasons that GBPUSD will keep to struggle and decline. A slice over 1.28 handle will favor for a buying position.

[Andrea FXMart]

GBP/USD Fundamental Analysis: June 14, 2017

 

The GBP/USD pair was finally able to make some significant headway amidst a highly volatile trading session yesterday after suffering from the adverse effects brought about by the results of the UK snap elections. As the Conservative bloc failed to get the number of majority they initially aimed for, this created uncertainties and risks within the market and has put the cable pair under severe downward pressure.

 

But yesterday’s session served as  a breather for the GBP/USD pair as uncertainties within the country’s government formation are now starting to get sorted out, thus enabling the cable pair to push past towards 1.2700 points. The talks between the DUP and the Conservatives has so far produced positive results, and it seems now that this alliance will be maintained at least until the Conservatives need to work on several issues, including government formations. One such issue is the looming Brexit talks, with Theresa May staying defiant and believing that she will be able to push through with the Brexit talks in spite of political turmoil and calls for her resignation from her current post as UK Prime Minister. However, May still has to prepare herself as she will possible be faced by several hostile EU leaders who will want to take advantage of May’s position as well as the UK’s current international standing. In addition, Scotland is again on the brink of instigating another independence referendum, and all of these risks are expected to weigh down on the sterling pound both in the medium term and long term.

 

For today’s session, the market will be focusing on the Fed’s next move with regards to its planned interest rate hike. If the Fed pushes through with its rate hike, then the market will be looking at the FOMC statement next in order to look for clues with regards to the schedule of the next rate hike. If the statement comes out as bullish, then the dollar could further increase in value and the sterling pound might again drop and could possibly revert to its range lows.

[Andrea FXMart]

NZD/USD Technical Analysis: June 15, 2017

 

The Kiwi had rallied during Tuesday’s trading session and broke on top of the 0.73 region. This indicates a bullish sentiment which requires a follow-through, however, the Fed Reserve might have other reaction about this matter.

 

The level below 0.72 is expected to offer a massive support and buyers will be involved eventually. Pullbacks may have appeared to be of value which could possibly the most suitable way to take part in a highly impulsive session. But it does not directly says that the market is going to be intense within 0.73 area and it only needs a lot of patience in order to obtain profit from this type of market. There is a tendency that market will grind higher sooner or later.

Furthermore, in the long-term uptrend show signs that it is best to buy dips for it will provide better entry plus enabling you to establish a larger position.

 

The market trailed through the region above 0.75 as this is significant on the longer-term charge. Ability to make a gap on top will make an ascending trend but we should reach the target first.

 

Volatility remains in the market but in case that the US central bank showed at least some concern in the economy will convince traders to bet that there will be a lesser possibility for an interest rate hike in the future.

[Andrea FXMart]

NZD/USD Technical Analysis: June 15, 2017

 

The Kiwi had rallied during Tuesday’s trading session and broke on top of the 0.73 region. This indicates a bullish sentiment which requires a follow-through, however, the Fed Reserve might have other reaction about this matter.

 

The level below 0.72 is expected to offer a massive support and buyers will be involved eventually. Pullbacks may have appeared to be of value which could possibly the most suitable way to take part in a highly impulsive session. But it does not directly says that the market is going to be intense within 0.73 area and it only needs a lot of patience in order to obtain profit from this type of market. There is a tendency that market will grind higher sooner or later.

Furthermore, in the long-term uptrend show signs that it is best to buy dips for it will provide better entry plus enabling you to establish a larger position.

 

The market trailed through the region above 0.75 as this is significant on the longer-term charge. Ability to make a gap on top will make an ascending trend but we should reach the target first.

 

Volatility remains in the market but in case that the US central bank showed at least some concern in the economy will convince traders to bet that there will be a lesser possibility for an interest rate hike in the future.

[Andrea FXMart]

USD/JPY  Technical Analysis: June 16, 2017

 

The U.S. dollar against the Japanese yen moved unsteadily during Thursday session followed by a rally as the market sees a “risk on” environment. For now, it looks like the market will remain unpredictable and the market reaction in the overall risk appetite will be the main driver of the trend.

 

Traders should take into consideration the other Yen pairings which will most likely move in the similar direction. Currently. The market aims for 111 level which has been formerly resistive. It seems that the market broke the psychological level and their next target would be around 112 and 112.50 levels or higher.

 

Pullbacks may open opportunity for buyers as the 110 level is reached which has been a significant psychological level in the past. It seems that the pullbacks would be extended longer which gives more value for the pair. This is beneficial to gain momentum in the pair while everyone is waiting for a better value.

 

There has been a sell-off for the pair as the market reacted to the Federal Reserve’s decision. It came out different than expected as the Fed lean to the hawkish side which consequently strengthens the U.S. dollar which moves almost always contrary to the Japanese yen as one of the highly sensitive pairs in the market.