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    Daily Market Analysis by ForexMart

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    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Tue Jun 27, 2017 12:13 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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Tue Jun 27, 2017 12:25 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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Tue Jun 27, 2017 12:36 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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Tue Jun 27, 2017 7:42 pm


    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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Tue Jun 27, 2017 7:43 pm


    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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Wed Jun 28, 2017 7:52 pm


    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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Wed Jul 05, 2017 9:06 pm


    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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Wed Jul 05, 2017 9:09 pm


    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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Wed Jul 05, 2017 9:13 pm

    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.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Fri Jul 07, 2017 1:37 am


    GBP/USD Technical Analysis: July 7, 2017

    The British currency went to a volatile session on Thursday and traded sideways, however, returned to the 1.2980 region and test the region 1.2930 another time.

    The market also contained significant amount of support under the 1.29 mark and attempts to touch the 1.30 area eventually. This is an area that could offer massive resistance and extends towards 1.3050, but a cut through over that level enable the market to climb higher near the longer-term target at 1.3450

    Remember that the Nonfarm Payroll is released every first friday of the month which is today, therefore, the US dollar is expected to have plenty movement in general. An ability to break down from this point, we shall see the 1.28 region to provide support. The area below there will affect the sterling pound.

    The pullbacks could possibly have some value opportunities showing a strong uptrend. A break down beneath the 1.28 range will initiate buying the dips on the candles that looks supportive. This could be difficult enough to stay in a trend for a relative amount of time not until a cut over the massive resistance found at the 1.3050 region.

    When this happens, winning positions could be improved to the upside. Otherwise, a breakdown under the 1.28 will urge to the market to look for 1.26.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Fri Jul 07, 2017 1:41 am


    EUR/USD Fundamental Analysis: July 7, 2017

    The EUR/USD climb higher on the positive news for the single European currency and brought negative news for the US dollar, hence, this helped the pair to return towards the range of its highs where it previously existed.

    The euro-dollar pair appeared to be very bullish as of this time while traders and euro bulls will cheer up due to the fact that a major portion of this is from the existing strength of the EUR. This not the same during the earlier times wherein the pair trailed upwards following the dollar’s weakness.

    As mentioned in the earlier forecast, the bullish run will remain intact within this pair and it appeared that will take some time prior the euro recovery. This happened yesterday due to the release of ECB minutes which clearly indicates that officials talked about preserving the QE tapering. However, decided to hold back until the inflation data support this move. It further shows that the ECB is very serious in considering the tapering as this also wrought a large increase for the EUR. In case that it lacks steam to push the EURUSD higher, we could rely on the ADP employment report which presented lower than expected value of 158K versus projections of 185K.

    As the ADP served as a precursor to the NFP scheduled to be released later this day, it further acts as a reminder for the dollar bulls that they are not yet far from that critical phase and that other challenges and struggle continues in the near-term. With this, the trend of sluggish US data resumed in the past couple of days. This questioned the Fed’s decision on ignoring the weak data after they implemented rate hike in the previous month. Ultimately, the focus is on the NFP along with the wages report and should be keenly monitored. Any hints of weakness in this report will only need some stimulant in order for the euro bulls to support the pair to 1.05 level.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Fri Jul 07, 2017 1:53 am


    EUR/USD Technical Analysis: July 7, 2017

    The bond markets of the Euro area was got hit by the Taper tantrum driving the 10-year bund yield over the 0.5% mark and through the highest level of 0.56% in earlier 2016. This lift the EURUSD in testing the resistance.

    The remarks of Praet of the ECB urges caution and patience towards the monetary policy which slightly moved to prevent the increase in the sell-off in yields.

    The FOMC minutes indicates fear of officials regarding the unfavorable market trends with concerns to policy comments. This further explains the desire of Draghi and Praet to maintain the QE easing bias in place, although the tapering is anticipated to begin early 2018.

    The ECB is unofficially neutral which is the issue, however, the global policy makers state that the monetary policy support surged. The dovish signals are not really reliable because they still deemed that the central bank is planning for an exit moves next year.

    The pair edged higher creating a bull flag formation which is a pause that stimulates upward. The resistance highlighted the 1.1444 level around the peaks of June while support entered the 1.1368 area close to the 10-day moving average. The momentum appeared to positive, but the MACD trajectory is flat which indicates a consolidation.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Fri Jul 07, 2017 2:47 am


    NZD/USD Technical Analysis: July 07, 2017

    The New Zealand dollar had a volatility trading session on Thursday. It declined in the beginning but was able to recover those losses. Hereinafter, the price further decline breaking the 0.7250 psychological level. A significant support was found under the 0.72 handle.

    In the current condition, it seems that there will be choppiness moving to and fro due to the jobs data which will have a bigger impact on the risk appetite and the U.S. dollar in overall.

    There is massive resistance found beyond the 0.73 level and if the market successfully breaks this region, the price could go down towards the 0.7350 region. The volatility persists to be high driven by the least liquidity of the New Zealand dollar of all the major currencies globally.

    Trading in small positions is the ideal strategy for this pair but the presence of an impulsive candle in the daily timeframe leastwise or if not, in the weekly time frame to have a serious money flow.

    It would not be easy to trade the NZD/USD pair in any size so traders should be observant or wait on the sidelines until a clear hint was seen before jumping in the market. Short-term scalping here and now is the best that the market could offer as the Reserve Bank of New Zealand maintain its neutral stand when it comes to its monetary policies.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Fri Jul 07, 2017 3:33 am


    GBP/JPY Technical Analysis: July 07, 2017

    The British pound surged in the beginning of Thursday session. This was reversed as the 147 region was being resistive to halt the uptrend. Instead, a breakdown occurred at 146.50 level. There is also a massive support found seen in the past several sessions. Moreover, the Nonfarm Payroll data will be released today which will bring volatility to the market.

    If a pullback occurred, the next major support level will be at 145 region which is presumed to gain more attention. A breakdown would be indicative of a negative outlook which could much lower towards the 144 level. On a brighter side, an uptrend is will still be possible and the selloff of the Japanese yen will continue.

    The employment data will have a great impact on the USD/JPY pair as well as the GBP/JPY pair. If the results came out strongly that induced sellers to join the Japanese yen market which will eventually affect this pair.

    If a fresh new high is achieved, the market could reach up to 150 handle. Although it may take some weeks to reach the said level amid a highly volatile environment and some issues in the market as a whole. However, if a breakdown occurred lower than the 145 level, buyers will dominate the market again as it reaches the 144 handle and down to the 142 level.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Mon Jul 10, 2017 2:01 am


    EUR/USD Fundamental Analysis: July 10, 2017

    The EURUSD consolidated on Friday, the same time that NFP report was released which brought volatility towards the market. While the pair ended up in a tight range and does not have any indications for further moving in whatever direction in the near future.

    The NFP data from the US showed that jobs increased more than the anticipated result and had a trend reversal on the sluggish employment statistics. This could possibly be the support for the dollar bulls since the average hourly earnings failed to surge based on expectations. This caused the price action to become choppy during the release of data and this continues until Friday. The data was mixed considering that growth in employment was balanced by the decline in earnings which further revealed a mixture picture of the economy.

    The single European currency remained to trade in a strong manner, generally, because of the clear signs that the European Central Bank could probably deal with tapering in the near future.

    This optimistic outlook of the euro area is absolutely different to the chaos that prevails in the United States since there is a delay in the passage of the new healthcare reform bill which will last for weeks.

    It clearly indicates that the administration of Trump is going to face difficulty to imply major amendment and the policy paralysis has the tendency to impact the American economy in the long term.

    Ultimately, we await the reaction of the market towards the mixed figures issued on Friday and know the scenario of the politics in the US. Besides, no economic news is scheduled for today, thus, consolidation is expected within the range top found at 1.1440.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Mon Jul 10, 2017 2:04 am


    GBP/USD Technical Analysis: July 10, 2017

    The GBPUSD moved sideways amid Friday trades in daytime, however, had a nosedive on the back of stronger than anticipated American job figures.

    As of this writing, we are positioned under the 1.29 region, and it shows that the downward movement will continue to move below the 1.28 mark. This is an area that offers plenty of support and should test the form downtrend line of the daily chart for it could also be significantly supportive.

    The market would likely to resume its choppiness due to news releases, hence market participant should keep this in mind. A successful break down beneath 1.28 handle will open the possibility that the market would be much easier to go short, then would search for the 1.26 handle.

    The market has maintained a volatile condition because the headlines do not have not clearly understand the Brexit negotiations. With that being said, it is recommended not to engage much in this market heedless of your trading course because it cou

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Mon Jul 10, 2017 2:07 am


    EUR/USD Technical Analysis: July 10, 2017

    The EURUSD traded sideways during Friday’s trading and experienced a session with high volatility since US job figures took a longer time than the anticipated. Nevertheless, as the session ends it appeared that the pair begins to demonstrate stronger stance once again while the weekly candle generates a hammer formation.

    The market would likely make an attempt to reach the 1.15 region where a significant resistance was seen in the past 3 years. Ability to break above it and a daily or weekly close would indicate a bullish sign showing that the market is apt to resume to go near the 1.18 handle.

    Having said that, the market is currently in the “buy on the dips” condition in the near-term.

    In case that the 1.15 handle was able to be broken down, it will suggest a major signal that the downward trend has ended. On one side, buyers will consider the single European currency in the longer-term or maybe tries to push it up towards the higher levels.

    This is a situation where the Fed is thinking about the increase in interest rates, however, the European Central Bank recently mentioned the tightening of monetary policy which is quite surprising. With this, the pair requires some rebalancing which we have been witnessed. Otherwise, a break down under the 1.1350 area will test the 1.13 level and a breakdown below that point will consider the 1.11 mark eventually.

    The overall market seems equal and buyers are currently in the driver’s seat.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Mon Jul 10, 2017 3:38 am


    AUD/USD Technical Analysis: July 10, 2017

    The main trend of the AUD/USD pair in the daily swing chart is moving in an uptrend. However, the momentum is pushing it to go lower. When the trade exceeds the .7712, this will shift the main trend to move up.

    A trade at the .7571 level indicates the continuation of the downtrend and possibly towards the minor base at .7535 region. A breakdown to this level will shift the course of the minor trend to go down.

    The main trend range between .7372 and .7712 with a retracement level at .7542 and .7502 as the next lower target. With the uptrend of the market, the buyers will most likely return to the test zone. For short-term, the range is between .7712 and .7571 with the retracement area at .7642 and .7658 which is the next upside target. Sellers might counter the trend belligerently and attempt to create a secondary lower top in the next test.

    The closing during Friday was positioned at .7600, similar to the price movement this morning. The direction of the AUD/USD pair highly depends on the trader’s sentiment to the downtrend angle at .7592.

    When the .7592 is held, this signifies the presence of buyers in the market and could further go up with the potential targets at .7632, .7642, .7632 and .7658 levels. On the other hand, when the .7592 level is kept steady, this indicates the presence of sellers. The target level when the price moves to the downside with the initial target at .7571 then .7542 to .7535 levels.

    Traders should monitor the angle at .7592. The reaction of traders will determine if buyers will enter the market or sellers will put in a selling pressure instead.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Mon Jul 10, 2017 3:46 am


    GBP/USD Fundamental Analysis: July 10, 2017

    The British pound against the U.S. dollar weakened on Friday last week because of below expectations manufacturing production data from the U.K. Although, the U.S. dollar has a higher value due to improved NFP data. This resulted in a faster correction of the pair which is necessary for the pair following several increases in the past few weeks. This has still reach highs of the range that lead to a correction.

    The negative in the manufacturing data has put the pound bulls in dismay which was anticipated to continue the positive flow and attempt to lift the price range much higher to reflect that it soared to the upside. This has reversed the strong data from the U.K. over the past few months. There is also a tendency for the resignation of the U.K. prime minister May that indicates the political conflict has not been completely settled. This is not necessarily needed by U.K. as it proceeds with the negotiation with the Euro representatives over Brexit but they don’t have any other reasons to blame.

    Better than anticipated outcome for the NFP data has alleviated concerns on negative data from the U.S. which was the trend in the past few months. However, traders are anxious on whether the Fed Reserve would raise its hikes amid the current situation. Nevertheless, the FOMC minutes indicated clearly that the next rate hike would be relative to the incoming data that makes that employment report to essential. The strong data pushed the price of the GBP/USD pair towards the 1.29 level which the former close of the week.

    For today, the traders are expected to respond to the U.S. labor data on Friday on the first day of the week. It is anticipated to give off a bearish tone.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Mon Jul 10, 2017 4:07 am


    NZD/USD Technical Analysis: July 10, 2017

    The New Zealand dollar declined during the week. The 0.7350 level gives a significant resistance level and if the market successfully breaks out then the price could further go towards the 0.75 handle. This opens the risk for a market roll over which was extended over time.

    The central bank of New Zealand positions in a neutral stance which will weigh on the New Zealand dollar but if the risk appetite returns, then the kiwi will climb higher. Henceforth, the market will move higher if there are sufficient reasons to support this especially if it rallies in the stock market and the commodity market. If the price breaks over the 0.75 level and higher, this would push the price much higher towards the 0.7750 level.

    A pullback from this region would open buying opportunities especially if the price declines lower than the 0.7250 level. This would be much more interesting if it reaches the 0.72 handle and the 0.70 level which are whole numbers.

    The impulsiveness of the marker will propel the price to move higher. However, in the long-term chart, there was a lot of selling opportunity for the pair as how it was in the past.

    Consequently, it needs more time to gain some momentum to break higher and pullback will not be unexpected. Despite the market being in the overbought area, it remains steadfast and further goes up to a much higher level when there is enough drive.

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Fri Jul 14, 2017 3:29 am


    NZD/USD Technical Analysis: July 14, 2017

    The New Zealand dollar against the U.S. dollar surged during the Thursday session attaining the 0.7350 level. It successfully broke slightly extended followed by a pullback as the resistance level wavers. However, signs of reversal called in buyers to try and hold over this trend.

    If the market was able to sustain the 0.7350 level above, this opens more buying opportunity and attempt to push it towards the 0.75 handle in the upside. On the other hand, if the volatility persists in the overall trend, the market will target for the 0.73 support level.

    The market will remain choppy regardless of the direction the market takes since the New Zealand dollar has lesser volumes compared to other major currencies worldwide. However, buying the dips could still be bargained. A daily close above the 0.7350 level would be a good move as of the moment. The 0.75 level remains significant in the long-term charts which determine the next target.

    Traders should also monitor the commodity market which would have a great impact on the New Zealand dollar particularly to the agricultural sector. If the market breaks below the 0.7275 region, it could further go down towards the 0.72 level. Nevertheless, the market remains to be volatile but the buyers will jump in and take advantage of the situation to

    AppleFX

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Fri Jul 14, 2017 3:39 am


    EUR/USD Technical Analysis: July 14, 2017

    As the EURUSD whipsawed on Thursday, the pair continued to move lower after the U.S. jobless claims report exceed expectations while U.S Producer Price Index came in stronger, as well.

    The expected figures for European inflation were unable to buoy the euro which has a weak stance for the past two consecutive trading session.

    The euro-dollar trailed downwards amid EU hours, however, rebounded during the North American session with an overwhelming inflation data. The exchange rate spent the day around the 10-day moving average found at the level 1.1401. It is bounded to test the support region near the upward sloping trend line next to 1.1315 mark.

    The resistance highlighted the 1.1444 area near the highs in July. Meanwhile, the momentum became negative following the crossover sell signal generated by the moving average convergence divergence (MACD) histogram. It was triggered by the spread of the 12-day exponential moving average subtracted by the 26-day exponential moving average, that cross over below the 9-day exponential moving average.

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Wed Jul 19, 2017 7:58 pm


    AUD/USD Technical Analysis: July 19, 2017

    The Australian currency rallied during Tuesday trading session on daytime and broke the 0.79 handle. The market broke out to the upside and appeared to go moving upwards.

    After breaking the level above 0.7750, which is really bullish, the market would likely resume to trailed higher and eventually, the next target is found at 0.80 region.

    Shorting the market is not ideal as the pullback still have a value. This is basically true since the gold market also rallied since the Aussie acts a proxy for the gold markets. It seems that value hunters will remain present in this market.

    The level below 0.7750 is expected to be the floor in this market and staying at that point will be a buyer.

    A pull back is needed to establish a stable momentum in order for the 0.80 region be best-selling, however, it may take some time to reach that zone.

    It is recommended to buy pullbacks and the market could go to the upside when the break out will persist. A move over the 0.80 region enables buyer to enter the market and expand their positions

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Wed Jul 19, 2017 8:08 pm


    USD/CAD Technical Analysis: July 19, 2017

    The U.S. dollar against the Canadian dollar declined during the Tuesday session as a continuation of the downtrend. The pair bounces off later but there will be sufficient amount of resistance found close to the 1.27 level. A formation of an exhaustive candle would signal selling of the pair.

    A rally of the oil market would support the trend following the Crude oil inventories report which would be beneficial for loonies. It would not be wise to buy this pair and break higher than the 1.28 handle which is far from happening. Not long ago, the market the broke out significantly because of the rate hike from the Bank of Canada.

    Bond trading has been pushing the currency and shorting of bonds. The trend could go much lower towards the 1.25 handle and even lower to 1.24 level below. Predominantly, there is a sell off in the market as the pair rallies instead of buying.

    The market is negative in general which will most likely persist for some time unless the market crumbles which would be a warning sign. As seen in the chart, there are more selling opportunities found in the market. The location of the support level is not clear and there are still plenty of levels that could go much lower below.

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    Re: Daily Market Analysis by ForexMart

    Post  AppleFX on Wed Jul 19, 2017 8:12 pm


    USD/JPY Technical Analysis: July 19, 2017

    The U.S. dollar against the Japanese yen fell during the Tuesday session as it approached the 112 level and further declines soon after. The market attempted to break out higher than the psychological level later for the day which possibly moves towards the 112.30 level that could push this market directed to the 113 handle.

    A breakout to the said level will lead in the direction of the 114.50 level. There will also be volatility in the market which would be influenced by the global risk appetite. The interest rate differential would favor the U.S. dollar but would shift its focus on the Federal Reserve and its increase in interest rate after some time. The expectations have calmed down that is connected to the downfall of the USD/JPY pair.

    The Japanese currency garners attention as it is subtle which was sold off against a basket of currencies worldwide. However, a break below the support level from this session could send the price towards 110 level as the next target of support. The 110 level is being supportive and would turn bullish after a break down from this area. For the long term, it is presumed to be going up and furthermore if given enough time. For short term, the trend will move bearishly but when the inflationary data from the U.S. would be released which would reverse the market trend.

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    Re: Daily Market Analysis by ForexMart

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