Daily Market Analysis by ForexMart

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 2:51 am


June 20, 2017

Positive Data Buoys Up Japanese Factory Sector's Confidence

Japanese manufacturers confidence rating rallied this month reaching the record level high in April and it is anticipated to further increase in succeeding months indicating according to the poll of Reuters. This is an indicator of economic recovery.



The mood of service industry also surged to a two-year high implication of improving confidence even though it is contradicting to the survey of Reuters Tankan which described credence to be declining in the next three months.



Most indicators and business activity indicated positive data on exports and factory production but the wage growth and household expenditure have slow growth amid tightening job market.



This prompted the central bank to keep its monetary policy unchanged on Friday while the private consumption increased for the first time within six months as the economy gains momentum particularly exports.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 2:56 am


June 20, 2017

UK Loses First Round of Brexit Talks to EU Bloc

The EU bloc dominated the first round of Brexit negotiations as UK officials cowered and retreated as EU’s chief negotiator cautioned that the British government will be dealing with substantial consequences should they chose to completely remove themselves from the union. UK PM Theresa May has already consented to the EU’s terms and conditions during the first day of the talks, although they have yet to discuss the trade deals between the European common market and Britain. However, EU chief negotiator Michel Barnier warned the UK bloc that this process would be a slow and arduous one, a complete antitheses to May’s hopes of a quick conclusion to the free trade agreement between the two blocs.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 8:08 am

EUR/USD Technical Analysis: June 21, 2017


The EUR/USD traded downwards as it was influenced by the sluggish report from the German PPI along with the tightening of the current account of EMU. Meanwhile, the European Union and the United Kingdom came to agree with the timetable of Brexit talks.


Eric Rosengren, chief executive of Fed Reserve in Boston, further studies about the urge to increase rates.


The pair headed lower, producing a toping pattern which is similar to the head-and-shoulder reversal formation. Prices cut through the trend line support that shifted as a resistance found at the level 1.1165 close to ascending trend line.


An additional level of resistance lies at 1.1187 around the 10-day moving average. While the support entered 1.1109 region shown near the lows of May 29. Moreover, the momentum came in negative and dive lower seeing the Relative Strength Index (RSI) broke down. As the current reading of the index is 48 positioned in the middle of the neutral range.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 8:10 am

AUD/USD Technical Analysis: June 21, 2017


The Australian currency attempted to initiate a rally amid the day and reversed to sell off. The 0.7575 mark was being tested due Aussie’s actions, hence, it provides a significant amount of support. In case that a breakdown occurred beyond that point, the market will be pushed down through 0.7550 region which is an interesting area in the past.


The market will keep on reaching the 0.765 handle when a bounce happen and when it break into the upside will drove near the region 0.7750.


At the end of the day, the market will continue following its risk appetite and traders should watch closely what will happen within that point. The central bank of New Zealand is expected to release a statement about interest rates scheduled today while the Aussie dollar will seek the same path.


Moreover, gold markets remain to be in a downbeat which can be felt by the AUD as well. With this, players should search for a support below prior the rebound. As the market still have challenging nature to deal with because of the many bits and pieces moving around, particularly the plan of the Fed Reserve to increase rates.
Above all, the pressure brought by the precious metal, gold paired with the general outlook on risk tolerance is projected to wrought a chaotic situation over the market.

In this event, it is complicated to determine where to go next as the consolidation is anticipated to keep going.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 8:17 am

GBP/USD Technical Analysis: June 21, 2017


The sterling pound traded sideways amid Tuesday’s session and slide downwards reaching the level 1.26. Having said that, the support appeared to large, round and psychologically significant figure. It appeared that the market has the tendency to made a bounce from that area and possibly searching for opportunities to sell around upper regions.


The volatility will continue within this market since news releases are expected to issue from the divorce proceedings of the European Union that will influence many moving pieces in Britain.


At the end of the day, the market will be driven by headlines which seem unpredictable and ineffective while the selloff was fairly drastic, therefore a rebound would likely happen.
A break on top of 1.28 handle enables the market to resume over the 1.30 mark. Despite all of the things that happened, the volatility still has a strong stance and at the same time, lots of question are still hanging on what would happen after.


The British currency would have been influenced by the proceeding making it a complicated environment to deal with. However, as the Fed Reserve will implement interest rate hike further placed bearish pressure on the market. In spite of everything, always maintain a very small position when trading.


A rebound is expected to occur within the 1.26 region in the near-term and appeared to provide support once again like it had done in the past that gave a significant amount of resistance.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 8:28 am

GBP/JPY Technical Analysis: June 21 2017


The British pound against the Japanese yen moved laterally during the early Tuesday session, followed by a decline reaching the 140.50 level below. This is suggestive to become a relevant psychological level. However, sellers are waiting for a technical breakdown as the market fills the gap in the past few weeks.


The general sentiment of commodities and the stock market should be taken into consideration of the market. If this collapse, this will put a bearish tone in the trend. A breakdown lower than the 140.50 region give a negative implication as it extends towards the 139 level. Volatility will still persist in the market and start to enter the oversold area in the short-term. Overall, the market is currently in a perilous state and requires patience from traders to gain profit in either direction.


This pair is sensitive to risk appetite that makes it important for traders to observe the trend in the stock market and commodities. Furthermore, concerns in Brexit will generate more noise to the British currency as a whole which will have repercussions on the market afterward that should not be neglected. If the pound appreciates, the trend will then be reversed moving to the upper channel.


However, if the currency falls instead, this further weaken traded against the Japanese yen, being the safety currency. Overall, there will be choppiness in this market and traders could get hints on what will happen next through other financial markets.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 9:02 am

NZD/USD Technical Analysis: June 21, 2017


It’s been a volatile session for the New Zealand currency on Tuesday amid the rally happened, touching the region 0.7270.


The market has to keep on searching for some noise in the market while buyers apparently came back which shows that the grind to the upside will resume in the near future. The market is starting to tighten up and should anticipate for an impulsive trend. This market appears to be very difficult to deal with in the short-term, however, you could perform a different move which is to sell.


After some time, the Kiwi reflects for an impulsive trend which could be difficult to settle funds within the marketplace which contains high risk. Upon getting an important trend, it would be much easy to identify what move should the players will follow.


The range bound market must be maintained as the level below 0.72 offers the bottom and 0.73 above. A slice over the top area would drive the market to an upwards directions and near 0.75 which is the target in the longer-term

A gapped underneath 0.72 handle cause the market to trailed downwards reaching 0.70 mark. Otherwise, the market will just go with the low to the extent that the risk tolerance globally is far concerned, specifically the commodity markets.


Having said that, we should watch closely the general tone of overseas traders along with the very important announcement of New Zealand regarding interest rate statement. In case the result will be hawkish, the market has the tendency to climb upwards.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 21, 2017 9:58 am

June 21, 2017

US Senate to Release Draft of Healthcare Bill

The Republican bloc of the US Senate will be releasing their draft of the healthcare bill this Thursday as the country’s senators attempt to iron out several issues within the country’s economy, such as the Medicaid program and the daunting task of decreasing insurance costs. Republicans have been struggling for several weeks as they attempt to revise major chunks of Barack Obama’s Affordable Care Act. Meanwhile, members of the Democratic bloc have staged a protest last Monday as part of their collective dissent towards these closed-door meetings of the Republican bloc.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 27, 2017 1:54 am


Sluggish Growth of Eurozone’s Business Sector in Q2

Business growth in the eurozone did not meet expectations as it approaches the end of the first half this year after the unexpected sluggish growth of the service enterprises, according to the survey on Friday. Nevertheless, the inflation and the overall remains considerably strong which will most likely be sustained by policymakers of the central bank of Europe to balance out and return to its dovish stance.

The PMI data showed a 0.7 percent GDP growth for the second quarter that has exceeded the 0.5 percent forecast of Reuters earlier this June. In the previous quarter, it grew a corrected figure of 0.6 percent growth.

However, companies focused on the service industry has weakened. The services PMI dropped to 54.7 from 56.3, significantly lower than the predictions of economists surveyed. On the other hand, the manufacturing sector PMI rose to 57.3 from 57.0 reaching more than six-year high.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 27, 2017 2:19 am


Theresa May Offered “Fair and Serious” Rights on EU Citizens

Theresa May, British Prime Minister of Britain, said to the leaders of European Union that EU citizens who came legally prior Brexit happenings are authorized to stay in Britain giving them a new ‘settled status provided that they have spent five years living in the UK.

PM May had spoke concurrently as the dinners end during the EU leaders' summit held in Brussels, stating that the United Kingdom agreed to deal with the “cutoff point” between March 29 of the current year, the date when she formally invoke Article 50, until the preferred period of the European Commission until March 2019.

This is the opening offer of May for the future citizen rights. Both nations, UK and EU wants to iron out the issue during earlier negotiations

European citizens who are part of this special status can acquire the same rights when it comes to NHS care, pensions and work along with other public services that British people have.

May mentioned in an interview with The Guardian that "The UK's position represents a fair and serious offer, and one aimed at giving as much certainty as possible to citizens who have settled in the UK, building careers and lives and contributing so much to our society,"

According to the report, the offer is dependent on the reciprocal pledge regarding the privilege of 1.5 million UK citizens who are presently residing somewhere in Europe had failed to reach its target with the EU’s demand in maintaining the continuity of the entire EU rights. But, the British country did not accept the demand of EU to grant the European Court of Justice to take the role as the guarantor.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 27, 2017 5:50 am


June 27, 2017

ECB Helped Taper Off Inequality, Says Draghi

ECB President Mario Draghi argued in a statement last Monday that the central bank’s efforts to maintain the union’s low interest rates has actually helped to taper off inequality rates within the eurozone and minimize unemployment rates. In a conference at a Lisbon university, Draghi stressed that the easy-money stance of the central bank has helped to curb the “highly-destabilizing” inequality levels in the EU, although several German officials in the past have repeatedly questioned this easy-money stance, as this apparently endangers pensioners and savers. This statement from Draghi comes at a very delicate time for the central bank as the ECB is now in the process of halting certain policies, including its negative interest rate program and its €2.3 trillion or $2.6 trillion bond-buying scheme.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 27, 2017 6:12 am


GBP/JPY Technical Analysis: June 27, 2017

This week started with a high volatility in trading the British pound against the Japanese during the Monday session. It climbed in the upper side towards the 142.40 level in the beginning of the session. It seems that the 24-hour exponential moving average is being supportive, however, the volatility of the stock market countered the move that caused the pair to drop.

There is a significant support level found close to the 141.50 region that makes it highly probable for the buyers to return in the market or in the sidelines. On the other hand, the 142.50 level offers a relevant resistance level and it won’t take long before the price breaks out. If the market successfully climbed to the upside, then the next target of the pair will most likely be 145 handle.

Regardless of what happens, there are minor signs of volatility moving forward and open more opportunities with the current buying value. The market is anticipated to break out eventually although there are a lot of factors to consider that makes it complicated to trade this pair.

Not to forget, there are a lot of important factors that influence the British currency such as the ongoing negotiation between the U.K. and the E.U. Moreover, major news will have a big say to the market, influential enough to move the market and bring buying pressure to the market. A pullback from the recent level could further bring tension in the market when buying opportunities arise. It could reach up to 145 handles although, it might take some time to reach the said level.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 27, 2017 6:25 am


EUR/USD Technical Analysis: June 27, 2017

The EURUSD is trading sideways during Monday’s session, however, met the resistance level at 1.12. A breakdown below that point and touched under the region 1.1175, then spotted a slightly bullish pressure. A cut through on top of the 1.12 handle and a pulled back from that point will see for another support.

With this, the pair is inclined to continue its ascending trend or maybe tried to touch the 1.13 mark in the longer term.

Volatility is still high in the market which would likely cause the single European currency to remain a market that is not easy to trade with, therefore, buying is our only choice.

The “fair value” is found at the 1.12 area and this point should be maintained. Buyers are starting to dominate the market, and there is no reason to stop moving near the 1.13 mark again.

It is possible that the market will continue to provide lots of buying opportunities on the dips in the short-term at least.

The market appeared to be crucial when imposing a sell signal unless we break the region under 1.1170. Ability to breakdown will lead the market towards 1.1125 handle.

A cut through over 1.13 mark, the market will drive going to the top of 1.15 range which is a strong barrier as indicated on the longer-term charts. As consolidation between the bottom of 1.05 and top of 1.15 continues in the past three years.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Tue Jun 27, 2017 6:35 am


GBP/USD Technical Analysis: June 27, 2017

The sterling pound broke higher during Monday opening and touched the 1.2750 region. A pulled back is done to some extent and eyes support around 1.27 mark. The market, in general, is moving sideways. This could be the scenario for this moment due to lots of concerns about the market, particularly with the British currency along with the negotiations between the European Union and the United Kingdom.

The market has many reasons to become volatile, hence, traders should be extra cautious. A break to the upside will drive the market near 1.28 handle, either way, a cut through on top of it would probably move the market towards the 1.30 area.

In the longer-term, there is a possibility to have a rally but the market should remain its choppiness so the opportunity to move near to the upside could often introduce itself.

At the end of the day, the market has the tendency to aim for the 1.3450 mark, however, it requires some momentum building to went through that range.

Reaching the target in the longer-term has to offer lots of opportunities to obtain short-term dips with value, as well as to acquire benefits from the hawkish tone of the Bank of England.

The market should keep on offering plenty of short-term trading, and maybe the ability to establish a certain type of core position.

The GBP is best in longer-term and it is still best for the pound to take the small position in order to steer clear from a severe dilemma.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 28, 2017 1:42 am


NZD/USD Technical Analysis: June 27, 2017

The New Zealand currency had declined to a certain extent amid session on Monday but was able to have a great increase upon breaking the top of 0.73 handle. A gapped higher indicates a good sign by which enable the market to continue going upwards.Eventually, we will reach the 0.7350 mark or 0.75 handle.

It is possible that the Kiwi dollar will remain volatile but have an upward bias. The commodity market could support this matter since the NZD serves as a barometer for some types of market, however, the Kiwi appeared to outperform due to various reasons except the slightly positive carry strategy that the market take advantage of.

We continue to search value and pullbacks within this market. After some time, we will move closer the 0.75 region which is considered a long-term psychological Ievel whereas sellers could possibly arrive, however, a slice above that area enable players to ascend reaching 0.80 in the longer term.

Selling the market seems not an option at this moment, particularly after the Monday trading which showed a massive amount of an upward momentum and other resources as regards with this currency.

Trading recommendations

The greenbacks are the most engaging among other currency but pairing it with the NZD is the least thing as this could result in the resumption of finding buyers in the near future which could also push the market higher. Selling is not the first concern when it comes to this scenario.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 28, 2017 1:43 am


EUR/GBP Technical Analysis: June 27, 2017

The Euro paired against the British pound broke in the channel underneath in the beginning of the Monday session. It gapped the 0.8770 region and rebounded towards the 0.88 level in the afternoon. If the price breaks over the peak for the range of the day, the next target would be at 0.8850 level.

The pair will presumably proceed with the long-term uptrend and if it breaks out to highs for the Monday session, the market could extend another 30 pips quickly. The long-term target would be at 0.90 and higher. Overall, there will be choppiness especially since it is the center of forex traders regarding the Brexit negotiation.

The pair is presently in a long-term uptrend. There will be support levels every so often that makes shorting a bit difficult to push through. A formation of a negative weekly candle would signal the chances for selling this pair since the market has been bullish for quite a long period of time. The uptrend will most likely be favored with the European Union leading against the United Kingdom.

Hence, to buy the dips would be the ideal thing to do and add later on in smaller trades. It accounts short-term trades to be more valuable. Overall, it is anticipated to have difficulty in trading this pair.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 28, 2017 1:47 am


June 27, 2017

Sluggish Growth Prediction for Developed Countries

A U.S. central banker forewarned that advanced economies and financial institutions in the United States will face a slower economic growth for long-term unless fiscal officials do something to counter this. Although, this comes surprisingly since the Federal Reserve just increased its interest rates earlier this month and intend to do more rate hikes gradually to prevent overheating of the economy. This also indicates positive growth of the economic outlook.

Federal Reserve president John Williams said that this optimism will only last for short-term and will change over time. With the sluggish growth, this gives a hard time for monetary policymakers to curb inflation and sustain full employment. This leaves the central bank with no choice but to rate hike since low growth trims the demand for investment and further push down the interest rates.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Wed Jun 28, 2017 1:50 am


June 27, 2017

Indo-US Deepen Economic Relations

US President Donald Trump and India’s Prime Minister Narendra Modi had clinched the deal in intensifying the economic partnership between the two countries, India and United States. The agreement resulted in a win-win scenario for the two economies and resolving the diverging opinions in a peaceful approach.

Following the maiden meeting between Trump and Modi held at the White House, the Foreign Secretary of Indian Dr. S Jaishankar, told the reporters that the two parties had productive talks. Both countries are having changes in its economy that generates further demands and reaching the high-level comfort among the two nations, the other partner is suitable to satisfy such demands.

Jaishankar mentioned that the civil aviation market along with natural gas cooperations have said that Liquefied Natural Gas (LNG) coming from the US will begin to run to the Republic of India

It is anticipated that after many years, the LNG trade between Ind-US will exceed its amount of USD 40 billion, he added.

According to a joint statement of India and US, they are committed to strengthening their economic ties in order to build a stronger nation and successful citizens.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 29, 2017 1:52 am


GBP/JPY Technical Analysis: June 28, 2017

The British pound against the Japanese yen moved sideways during the Tuesday session. It declined a few levels to reach the 142 handle. A break above the 143 level implies bullishness and opens more buying opportunities. The pullback can be beneficial which will most likely proceed to the upside while the Japanese yen is in a sell-off.

After some time, the 145 handle could be achieved which becomes a significant level. A break from the said level will give rise to a more bullish tone in the market but, for now, this is the primary target of the pair. The 142.50 is still supportive and if this is sustained then the trend will even move higher.

There is still volatility in the market but the global risk appetite affects the pair. Also, the pair is inclined to react in a strong stock market, as well as the commodity market. Hence, it seems that the stock market will proceed to increase which makes it more advantageous to go long in this pair.

Moreover, the British pound responds to the major events from London especially when the Brexit negotiation ended. Traders should anticipate more activity and high volatility in the market because of various sudden news across the globe. Nevertheless, the market is gravitating to move uphill instead because of the bullish tone in the trend.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jun 29, 2017 1:57 am


June 28, 2017

IMF Cuts Growth Forecast for US Economy

The International Monetary Fund watered down its economic outlook for the United States due to the high level of risk regarding the plans of current president Donald Trump in boosting growth in the economy. According to their forecast, U.S will gain an annual rate of 2.1 percent for this year which is a positive increase compared with 1.6 percent recorded in 2016, however, it is comparatively lower to 2.3 percent estimate on April.

The Washington-based organization also cut its forecast for 2018 saying that the country will have a hard time in reaching the 3 percent target determined in the first budget of the president. The latest growth numbers are part of the annual review made by the IMF to the American economy which is released on June 27. Report says the forecast was trimmed down because it was clearly stated that various parts regarding the expenditure project and administration tax are still ambivalent.

With these concerns, the institution said that the final decision is made in order to abate any assumptions concerning the programs of Trump will get the Congress approval and rather to work with predictions that ongoing policies will remain consistent.

Based on IMF’s projections, the yearly GDP growth is 2.1 percent for 2017 and 2018 and this will decrease by 1.9 percent by 2019 while in the year 2020 it will only reach 1.8 percent.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jul 06, 2017 3:05 am


GBP/JPY Technical Analysis: July 05, 2017

The British pound stirred sideways against the Japanese yen during the Tuesday session with the 72-hour exponential moving average has become the floor of the trend. The support level is positioned at 146 region that could extend up to 145 handle. There is a higher chance for buyers to present below as they take advantage of the pullbacks. The 145 level will most likely be supportive in the channel and as long as this level above is maintained, it is probable to continue to move towards the 150 handle which is the next target in the long-term.

Alternatively, a break below the 145 level would push the price lower in the direction to the 144 handle and even much further down to the 140.50 level.

This would be concurrent to the decline of the British currency and a general “risk off” attitude which would add a downward pressure on the market since the commodities also go downhill. Also, this pair is immensely sensitive to the global risk appetite.

Volatility is already assumed from this pair as it is called “the Dragon”. This choppiness could be translated into an advantage after given some time to gain bigger profits. Following the breakout, it is favorable to have an uptrend although pullbacks are also advantageous since the pair moves sideways. This gives a sudden profit from the buildup of momentum over long-term.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jul 06, 2017 3:09 am


EUR/GBP Technical Analysis: July 05, 2017

The Euro against the British pound moved laterally during the Tuesday session as it moved to and fro in a calm trading environment. There is not much activity until a new headline has been release from Brexit negotiations that put uncertainty in the market influencing it to move in a single direction on either side.

The 0.88 level moves above the massive resistance and if the market breaks in the upper channel and closes it higher in the daily chart, the next target would be at 0.8875 level and above. However, if the reversal from breakdown from the 0.750 level then towards the 0.7 handle. This market is anticipated to have choppiness because of numerous pressure that affects both currencies.

There is a high level of risk in the market that brings in both buyers and sellers in the market after the reports from Brussels and London. This makes it difficult to hold long-term trades that is assumed to continue its movement in 50 pip increments which are what the market wants to benefit from those levels.

The short-term trading is currently in a fine condition but would be quite harder to hold either bought or sold positions. All things considered, it is best to move at a faster rate and heedful in trading. Small positions are more suitable to trade right now in this market since there is still uncertainty which will most likely continue in the succeeding months.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jul 06, 2017 3:13 am


EUR/USD Technical Analysis: July 5, 2017

The euro-dollar pair resumed its downfall while the U.S. yields were able to make further progress on the back of the stronger-than-expected result of the ISM Manufacturing report issued on Monday. The US market was closed on Tuesday due to Independence Day holiday, however, there are few catalysts that stimulate the EURUSD amid balance of the week which includes the United States’ Payroll report on Friday.

The pair headed lower and bound to test the support close to the 10-day moving average found at 1.129. The exchange rate eased from the 1.14 handle which is considered the 1-year high and stayed around 1.1350 region near the peaks of August 2016.

The resistance highlighted the 1.1444 mark. Momentum came in neutral while the moving average convergence divergence (MACD) histogram prints in the black linked with a flat trajectory which suggests some consolidation.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Thu Jul 06, 2017 3:29 am


July 5, 2017

Delay in Implementation of Bank Capital Rules in Singapore

The banking regulator in Singapore has announced the extension of the execution of global rules for a year to curb trading risks which in signifies a post-crisis overhaul of the global banking system to be interrupted.


Other countries such as Hong Kong and Australia followed postponement in the same manner as there is a rising concern regarding the complexity of rules. Also, this is yet to be settled on how this will match with other capital reforms.

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Re: Daily Market Analysis by ForexMart

Post by AppleFXMart on Fri Jul 07, 2017 2:56 am


July 6, 2017

Oil Recovered As Bonds Progressed

Oil improved after a sharp decline and both of the European stocks and bonds were in the red on Thursday as the market awaits for the ECB minutes. This would determine the next actions of the central bank. Although, the Fed Reserve showed mixed signals on Wednesday. Bond yields climbed higher again as the benchmark of U.S. Treasuries rose more than 2.34 percent which increased the global borrowing rates.


The market was caught in between the ambiguous results from FOMC minutes and the U.S. employment statistics on Friday. The beginning of G20 summit has been the center of attention after the long-range missile test this week launched by the North Korea.

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