Jump to content

Welcome to Digital Money Talk Forum - Forex, Ecurrency exchange and Cryptocurrency Forum - Sponsored by Blueskybinary.com and Freshforex.com
Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, post status updates, manage your profile and so much more. If you already have an account, login here - otherwise create an account for free today!



Blueskybinary


Freshforex



Read our Advertising Disclaimers


Refund Policy


Photo

Daily Market Analysis from ForexMart


  • Please log in to reply
311 replies to this topic

#301
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

NZD/USD Technical Analysis: May 22, 2017

 

The New Zealand currency experienced a volatile session amid Friday trades as it broke on top of the 0.69 handle. A grasp to the level 0.6950 was highly resistive which is better than all the range for the previous weeks.

 

A break on top this region is considered significant looking forward through the top of 0.70 mark, this also allows the market to drive higher.

 

Moreover, the market would likely maintain its volatility and choppiness. The kiwi was highly sensitive against the risk appetite which appeared to be unpredictable at this moment. With that being said, the thought that the NZD will be one of the complicated currencies to trade is possible. The “risk on” sentiment has returned in the market favoring the profits for the buyers.

 

Moreover, the market will remain choppy and volatile for the next hours and the 0.6880 region below contains a massive support.

 

The “buy on the dips” will further extend, however, headwinds on top of it are within reach. In this case, the market has to provide lots of trading opportunities intended for the scalpers but the short-term traders will remain to draw attention towards this.

 

There will be some struggle that longer-term traders will experience, in order to search for a suitable position. Therefore, holding a trade for a lengthy period is difficult as there could probably some real size ongoing.


  • 0

#302
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

GBP/USD Technical Analysis: May 22, 2017

 

During the Friday session, the pair GBPUSD remarkably did well since an extreme and rapid price decline occurred on Thursday. While an uptrend is tested, however, a turnaround was carried out promptly.

 

As the traders calm down, the market eventually break out in the upside hitting the top of the 1.30 region. In the previous trades, a renewed highs were formed and the Britain’s currency would likely look forward through the 1.3450 area that has consolidated in the longer term.

 

A break on top of the range 1.30 seems significant and the flash crash happened on Thursday still not clear which brought fears to many people. Moreover, the uptrend line amid that sudden drop matters a lot and it appears that the 1.29 mark can be the acting basement of this market.

 

The choppiness was still expected to continue but the market may indicate a bullish attitude.

 

The pullback eyes some support within the level 1.30 but a breakout towards a fresh peak would trigger a buying behavior.

 

The GBP attempted to change its general trend in the upside which could go a long way throughout establishing trend confidence.1

 

In addition, the uptrend will continue since the moving averages drove to the upside and selling is not an option at all. While a move forward would pave the way for the “buy on the dips”.


  • 0

#303
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

USD/JPY Technical Analysis: May 22, 2017

 

The U.S. dollar against the Japanese yen broke in the upper than stabilize the currency pair during the Friday session. This indicates that the market had adjusted with the minimal risk this weekend which is a positive thing.The trading has been strong which is being monitored by traders and they try to bring the price higher than the 112.50 level. Although, as of the moment, the trend is currently in accumulation. If the market could break higher than the 112.50 level would give a bullish tone in the market and would move the price continue to 114 level. This would even go higher when the Federal reserve decided to bring the interest rates higher and this possibility of raising rates caused selling early this week.

 

The U.S. jobless claims declined which is one of the major directives of Federal reserve that would most likely impede the interest rate hike. Others would want to be dovish or totally forget about it but it is not plausible to do so as the U.S. has eased monetary for the past years and is not exemplifying expected results. On the other hand, the employment is being tight indicating the strengthening of the economy which would bring the interest rates higher as expected.


  • 0

#304
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

EUR/USD Technical Analysis: May 24, 2017

 

The EURUSD attempted to move through the higher region on Tuesday, however, failed to maintain its gain upon reaching the level 1.1268. When the profit taking started the pair was pushed beneath the 1.12 handle.

 

Meanwhile, the stronger report of GDP and sentiment data buoyed the EUR/USD and the yields turned up in Europe as relating to its American counterparts. Moreover, the PMI readings kept unchanged in the month of May, as the German nation lead the charge that reflects towards a strong growth.

 

The major pair touched the higher high as it eclipses the prior day high using 5 pips. The resistance is found at 1.1299 level close to November 8 highs and in case the level will be broken, it would lead to testing 1.1365 region near its August highs in 2016.

 

The support entered the mark 1.1603 around the 10-day moving average. Momentum is slow-moving, seeing the moving average convergence divergence (MACD) print in the black together with a descending trajectory that drives towards the consolidation.


  • 0

#305
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

USD/CAD Technical Analysis: May 23, 2017

 

The USDCAD experience volatility during Monday’s session and had an attempt to rally, however, it made a reversal plunging under the region 1.35. The pair is relative to the crude oil markets and received a significant support upon the opening, while the OPEC seems to move nearer the deal regarding production cuts.

 

Having said that, the greens decline versus its Canadian counterpart which is the proxy of currency traders against the oil markets.

 

The ability to break down around it will allow the market to reach the 1.34 handle. However, a cut through the top of 1.3550 area will touch above the range of 1.36. This range is significant for the longer-term charts, and a broke within that area enable the market to drive upwards.

 

The volatile market is expected to continue considering the current condition of the oil coupled with Canada’s housing that brought an impact as well.

 

Sellers have executed a significant action as well which could give a chance to break 1.3550. But there is no such opportunity to initiate a long move, except that the higher timeframes (daily or weekly charts) could obtain a longer-term signal

 

According to forecasts, rallies will resume and will be providing opportunities to sell towards a market that experienced a lower grind in the previous sessions. Lastly, a gapped in the upside has to be accompanied by the oil markets that were rolled over.


  • 0

#306
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

AUD/USD Technical Analysis: May 24, 2017

 

The Australian currency against the U.S. dollar broke above the 0.75 level but was also reversed soon after. If the price breaks lower than the 0.7450 region, the price would further decline. This is also similar for the long-term trades.

 

The gold market directly influences the pair including the risk appetite for these trades. However, it seems that the gold market is not performing well. The raw material trades from Australia supplied within Asia is also falling since there is low demand for copper and iron which are the fundamental trades of the country.

 

In a long-term trend, it seems that the market sustains the current trading condition. Its downtrend could attain up to 0.70 level for long-term. If the price breaks higher than the 0.7525 region, it could reach its way about the 0.7750 level for a longer term.

 

However, reaching the said level won’t be easy. Although, the market usually change position in a bullish pattern and makes it more complicated when the market worries. This is what anticipated to happen when the price soars that makes pullbacks not surprising anymore. The uptrend line is noticeable on the hourly chart and a break lower than the 0.7450 level would bring the price down with an increase in bearish pressure.


  • 0

#307
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

USD/JPY Technical Analysis: May 24, 2017

 

The U.S. dollar against the Japanese yen had a calm trading During the Tuesday session. The price rallied higher because massive support found at 111 level. The market tries to push it higher towards the 111.50 region and this could even go higher reaching towards the 112.50 level above which has been a significant psychological region previously.

 

With the fluctuation in the stock market, traders should monitor the indices especially the S&P 500 because of its high sensitivity to risk appetite. This would hint the next move in the trading market as there is a high correlation between the two. The Japanese yen being a safe haven asset would bring about greater risk appetite when it proceeded with a sell-off. This is a positive indication since a massive bullish candle was formed during the day.

 

If the price breaks higher than the 112.50 level, the current long-term uptrend will be sustained. This is a strong indicator but the market could attempt more than once to be successful as the market would most likely climb higher.

 

However, when the price breaks lower than the 112.50 level instead, the massive support will remain as of how it was in the past. The stock market is gaining momentum which could also push the price higher for long-term with a strong correlation with the stocks. Hence, traders should monitor changes not only in forex market but also in the stock market.


  • 0

#308
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

GBP/USD Fundamental Analysis: May 26, 2017

 

The strength of the greenback has been the dominant market trend during the previous trading session. In addition, the bulls of the GBP/USD pair are also having a hard time with regards to keeping the value of the cable pair afloat, which is seen on how the bulls had repeatedly attempted and failed to break through 1.3030 points even though the USD has clearly dropped in value. This development shows just how the bears are slowly gaining the upper hand with regards to taking control of the cable pair.

 

But on the bright side, the drop in the cable pair’s value was not as much of a crash as initially expected since the pair’s drop has been somewhat slow and steady. But then again the corrections of the pair is now starting to get more significant, while its reversions are becoming more and more shallow, which is an indication that the pair’s bears are indeed taking over the currency pair. The GBP/USD pair was unable to even reach the 1.3000 range as the greenback starts to regain more strength due to the market re-pricing the interest rate hike next month.

 

For today’s trading session, the market is expecting the release of the Preliminary GDP data and the durable goods data from the US, while the British economy is not scheduled to have any economic releases for today. The GBP/USD pair is then expected to remain under pressure for the entirety of today’s trading session.


  • 0

#309
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

EUR/GBP Technical Analysis: May 26, 2017

 

The Euro against the British pound had a very choppy trading during the Thursday session as the market is attempting to push the price higher which could eventually break later on. There are also some pullbacks seen in the short-term which supports the current trend and gather enough impetus and volume to reach higher levels. If the price breaks higher than the 0.8675 region, the current trend will move upward reaching the 0.88 level that is relevant for long-term as shown in the charts.

 

Those reversals would gain more appeal to the buyers as it closes near the 0.86 support level which was supportive in the past. There’s an option to wait for a breakout first to lift it higher which implies bullishness in the trend which is beneficial for buyers.

 

The market is choppy influenced by the two economies and commentaries from both countries bringing a lot of noise in the market. Yet, the trend remains resilient as it is directed upwards although there are pullbacks every now and then. If the price breaks lower than the 0.8550 region, the market is anticipated to roll over. This is most probably because of major events which are usually unexpectedly fast when it happen. Overall, the buyers seem to dominate the market.


  • 0

#310
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

GBP/JPY Technical Analysis: May 29, 2017

 

The British pound paired against the Japanese yen declined during the Friday trading session following the release of election polls much tighter than expected in Britain. Everybody expects the political route the way forward when it comes to leaving the European Union still leaves some doubt in the minds of the people.

 

The pair is usually sensitive to risk appetite that worsens the selling pressure. As the price breaks through the 143 level, the price would decline much lower towards the 142 handle as the market reaches to the support below. If the price surges from here, this would open more selling opportunities.

 

Traders should monitor the global risk appetite including the stock market, futures market and the condition of the British government and its currency, as these would affect the pair. As of now, the pair is moving downtrend searching for a significant level at 1.2750.

 

If the pair is able to stay in the upper region, the current trend could be reversed to find support below. Alternately, the price could decline towards the next significant support at 140 handle. Buyer should look to the long-term charts before placing orders. Overall, the market will be highly volatile and traders might want to consider major pairs related to the British currency for a faster turn around.


  • 0

#311
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

NZD/USD Technical Analysis: May 29, 2017

 

The New Zealand dollar against the U.S. dollar has had a flat trading in early Friday but when the buyers returned, the price rose towards the 0.71 handle and above. Short-term pullbacks offer value in the market as the market tries to reach higher levels.

 

The 0.70 level gives off massively supportive until the price breaks lower which makes it complicated selling. Buyers will proceed with going long as the market is open climb higher although the pair is still involved with high risks. It is anticipated that the pair will most likely decline from here onwards that makes the pair more susceptible to risks.

 

There is a strong upward pressure for this pair and volatility would increase even more. The New Zealand dollar is highly sensitive to the overall commodity market that makes is important to monitor the commodity market not necessarily a certain commodity market.

 

There is high volatility in the market which will reflect in trading this pair. With the political concerns from the Washington, D.C., the pair is expected to be influenced despite its almost daily occurrence. Hence, traders should still be cautious that makes short-term trades more advisable to trade to make through the current problems concerning this pair.


  • 0

#312
Andrea ForexMart

Andrea ForexMart

    Advanced Member

  • Member
  • PipPipPip
  • 821 posts

USD/JPY Technical Analysis: May 29, 2017

 

The U.S. dollar against the Japanese yen declined during the Friday session. It reached the lowest level of 110.80. If it bounced back, this will signal a bullish trend but this would not be easy to attain as there is high-risk appetite especially for this pair. The 110 level gives off a massive support but is the pair breaks lower, the next level would be at  108 region at a quicker pace because there is a still remaining gap that has not been filled.

 

In  the long-term, this pair will most likely go higher although it may take some time since the 112.50 is strongly resistive. A break higher than this region would be beneficial for scalpers to take advantage of bulls interested in the U.S. dollar.

 

Traders of this pair should monitor the S&P 500 index as this would have a big influence to the pair. If the index rises, this pair follows. Moreover, the chances for a Fed rate hike puts a bullish pressure for the pair. If it did not take place, it might be a problem for the pair although it is most likely that this would happen with its stature at stake.

 

Pullbacks every now and then offer long-term opportunities but for short-term, this gives off bearish volatility/ This could persist for some time especially with the major events concerning geopolitical problems occurring from Europe and the U.S.

 

Overall, the pair moves in an uptrend from 110.23 level and a decline from 112.13 will indicate a correction. It is expected to rise again following the correction towards the 113.50 level. The near-term resistance is found at 111.70 and a break to this level would mean a continuation of the uptrend. On the other hand, the support region is positioned at 110.80 and 110.23 and a break from these levels would push the price back again from 114.36 level.


  • 0