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  1. #661
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    USD/JPY Technical Analysis: October 12, 2017

    The U.S. dollar declined at the outset of Wednesday’s trading session, however, the bucks were able to find support on top the 112 handle to conduct a reversal, showing active existence.
    The American dollar must keep on finding lots of support at 112 level because every pull back will provide plenty of support from that region. It is better when it offered some “floor” but a break down underneath there would offer a massive support below the 111 mark. With this, buyers will return to the market in a short period of time except when the Federal Reserve rejected the proposed interest rate hike.

    The issue about rate hike has been the talk of the town for some time and maybe it’s time for the Fed to have at least some hints about their position regarding this matter, as the market really needs to see some progress or else they might lose their credibility. Many are intrigued on how many times the Fed will increase its rates which most participants would search within the Meeting Minutes. Hence, it will take some time to get a clear answer but this idea was already established within the marketplace and probably there is no any reason to conduct such rally.
    The Bank of Japan remains to be soft which makes it reasonable to enter the 114.50 region. This level is the top of the longer-term consolidation. It appears that market imposes a “buy only” mode.

    Andrea ForexMart, Official Representative


  2. #662
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    EUR/USD Fundamental Analysis: October 13, 2017

    There is a consolidation in during the trading session of the EUR/USD pair as it fluctuates up and down for the day without specific trajectory. The Resistance area is found close to the 1.18880 and it cannot be determined yet the market will be able to break this area or its direction for short-term.

    The price moved headed to the level mentioned and it seems that there will be a lot of selling to take place which would result in a minor correction. Although, there is choppiness present in the pair and it might be best to stay on the sidelines. The data from the U.S. particularly the PPI has no big impact on the movement of the pair and move sluggishly but steadfastly.

    The dollar is moving behind with the NFP data came in weaker anticipated in the previous week. The FOMC minutes also gave a hawkish sentiment as awaited by the market. The trend is hinting for an uptrend of the EUR/USD pair to persist both for short and medium term while the question remains if the Federal Reserve will raise the rate for December and continue to affect the market.

    Today, the market may get answers as the CPI data from the U.S. will be released later this day which put the Fed member at a worrisome state while dollar bulls are hoping for a positive output for today and keep open the possibility of a rate hike in December. Other than the CPI data, the retail sales data is also scheduled to be released for today which would greatly influence the short-term activity of the pair.



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  3. #663
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    USD/CAD Technical Analysis: October 17, 2017

    During the daytime trading on Monday, the American dollar traded sideways versus the Loonie dollar, followed by a break through the 1.25 handle. Eventually, the markets contained high volatility but the positive thing about this move is the reversed flow against the oil sector. The oil markets tend to rally as well as the U.S dollar but this appeared to be unusual which could give a negative sign for the CAD.

    The 1.25 region below is projected to continue its attractiveness for the price but there is a possibility for the rally to resume according to the skeptical actions by the Canadian dollar.
    A break over the 1.2250 mark even on the daily close will enable the market to keep on moving upwards or may be an attempt to reach the 1.2750 mark.

    The markets would certainly be volatile due to the instability of oil industry along with some back and forth movements. Considering the massive volume of volatility, it is much preferred to gradually establish a position.

    A break down underneath the 1.24 mark does not necessarily indicate a bearish tone again since dealing with the recent action seems difficult. While the markets would likely try to generate some kind of base. Moreover, the oil markets are moving nearer to the massive resistance which could further provide lots of bearish pressure towards the Loonies.

    Take note that the Bank of Canada increased its interest rate and suddenly mentioned that the rate hikes should be considered as automatic. With this regard, the market appears to completely turn around against the CAD.


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    Andrea ForexMart, Official Representative


  4. #664
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    GBP/USD Fundamental Analysis: October 19, 2017

    The pound-dollar pair continued to move upwards after the weakening of the dollar across the board in the past 24 hours. We believe that there are no fundamentals that drive the market which caused the U.S. dollar to weaken, hence, it all boils down to the condition during the second half of the month accompanied by disappointing news from all over the world. Generally, the main focus is turned to the positioning and flows rather than the fundamental news.

    Moreover, there are reports that calling UK Prime Minister Theresa May to stop the Brexit negotiations without any settled trade agreements. This is the ongoing agreement about Brexit since last week. So far, there have been barely some progress with the process, showing some strength and getting nearer to the end of the talks while PM Theresa May is planning to fly to Brussels in order to resume the discourse and bring out a resolution. The appeal for a no deal and demanding May to leave the talks are much preferred compared to anything else for this current time.

    The United Kingdom could decide to work out some good deal which should offer justice both on the European Union and the Britain since there is some block as of this moment. Eventually, the talks could possibly continue to gain traction which is a positive factor the sterling pound.

    Ultimately, the British retail sales figures and American unemployment claims data are expected to be published within this day. The retail sales are projected to contribute volatility to the Cable pair, considering the upcoming statistics from the UK were sluggish in the past couple of weeks that prompted the market to be very cautious since this data is capable of identifying the trend of the British currency throughout the entire week.

    Andrea ForexMart, Official Representative


  5. #665
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    EUR/USD Technical Analysis: October 20, 2017

    The euro against the U.S. dollar surged higher during the Thursday session looking forward to the Brexit talks to get better. Although, there is no final decision yet and the process is still ongoing. Both statements of Merkel and U.K. Prime Minister Theresa May has mentioned that there are progress and hinting that there are some deals to be halted in the next few months.

    This is a positive sign for the euro as it implies that there will be a good deal which is beneficial not only for the U.K. but also to the eurozone. The dollar proceeded with a minor correction during the first half of the day. The market has expectations to the tax reform bill in the U.S. which was delayed for some time that disturbs the market and resulted to a minor sell-off of the greenback until afternoon for the day. In the opening of the U.S. session, the stock market has gone steadily following a minor interruption as the market of its crashed back in 1987 referred as Black Monday. Since then, the dollar has grown stronger just a few hours after the tax reform bill has been approved.

    This led the way for future revisions which is a good move for the current U.S. administration under Trump’s leadership. It reflects that Trump has had a successful agreement along with with the Democrats which opens the door for more bills to be approved. In effect, this is a really good deal for the dollar which would be felt in the market throughout the course of trading. Hence, the EUR/USD is anticipated to proceed to decline for the day’s session.

    For today, there is no major news from the eurozone of from the U.S. Yet the dollar bulls will look out our for the proceedings in the tax reform bill that may strengthen the dollar for today.


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    Andrea ForexMart, Official Representative


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