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Daily Market Analysis from ForexMart
AUD/USD Technical Analysis: June 27, 2018
The Australian currency had slightly decline amid trading course on Tuesday and was able to touch the 0.74 level below. According to the chart, the light blue circle that formed a “W pattern” at 0.7350 zone indicates some bullish reversal signal, the said level is considered significant in the longer-term chart. With this, it seems that we are in a neutral position attempting to reverse the overall market sentiment which would cause a lot of noise.
In case that market will break on top of the 0.75 handle, this shows a bullish sign which appears to hang in the trade of a significant trend in the longer-term. Below this zone seems to offer enough support to help the market buoyed. In general, the market may continue to be noisy but holding a position above the significant area of 0.7350 would likely attract more buyers.
Aside from that, the weekly charts generated a massive hammer formation last week which showed a bullish sign, as expected. Hence, there is low chance to have a good rebound which is in favor of the short-term charts. Otherwise, a break under the 0.7350 mark would pull down the market toward 0.70 zone.
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Daily Market Analysis from ForexMart
GBP/JPY Technical Analysis: June 28, 2018
The British currency had seesawed during Wednesday trading session and rebounded from the ascending trend line below to turn around and touches the ¥145.33 level. Apparently, the market will continue to have a lot of noise in general due to fears about trade wars. However, there are certain attempts to seriously break down through the upward trendline that can be seen on the hourly. An ability to move under that level would allow the market to reach the ¥144.50 level or lower.
Otherwise, the market might bounce from that point when some good news was released. From there, the market is expected to go near the ¥146 level, which is an area of resistance barrier of various minor in between that requires a significant amount of momentum to gain a position above.
Remember that the GBP/JPY pair is predicted to be extremely volatile and highly sensitive with regards the news and current issue between China and the United States. It is believed that this market is going to receive a lot of bad news despite the significant bounce from the remarks of Donald Trump that he is not interested to further heighten the trade war to hold China from investing in the US technological firms.
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Daily Market Analysis from ForexMart
AUD/USD Technical Analysis: July 3, 2018
The Aussie dollar had a significant break down during the trading course yesterday and further cut through the 0.7350 zone. There is a lot of support underneath that level and it appears that players attempt to slice through it. If this happens, the market would likely move to the 0.73 handle or even to the 0.72 mark eventually. At present, rallies may be sold-off since Sino-American affiliation continue to fall apart. The nearing deadline for the trade tariff on Friday appears to be true but traders are also concerned about China’s retaliation plans.
Market players will be confident to buy the Australian dollar again until the trade pressures eased down due to bid for safety. As of this writing, the market may drive lower but traders might experience an occasional bounce. Also, the markets may resume moving based on the headlines while the downside may be the most convenient way to trade, considering that the markets avoid risks.
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1 Attachment(s)
Daily Market Analysis from ForexMart
AUD/USD Technical Analysis: July 3, 2018
The Aussie dollar had a significant break down during the trading course yesterday and further cut through the 0.7350 zone. There is a lot of support underneath that level and it appears that players attempt to slice through it. If this happens, the market would likely move to the 0.73 handle or even to the 0.72 mark eventually. At present, rallies may be sold-off since Sino-American affiliation continue to fall apart. The nearing deadline for the trade tariff on Friday appears to be true but traders are also concerned about China’s retaliation plans.
Market players will be confident to buy the Australian dollar again until the trade pressures eased down due to bid for safety. As of this writing, the market may drive lower but traders might experience an occasional bounce. Also, the markets may resume moving based on the headlines while the downside may be the most convenient way to trade, considering that the markets avoid risks.
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Daily Market Analysis from ForexMart
GBP/USD Technical Analysis: July 4, 2018
The British currency had a significant rally during trading course yesterday and further reach the important region of 1.32. It seems that the market will continue to search for sellers around that level, while a break on top of that area will show the next target above the 1.33 mark. This market remains to be very noisy, however, the market is predicted to move according to headlines and uncertainties at the end of the day.
The hourly chart formed a “higher low” but it is too soon to consider the market reversal in the longer-term. Forecasts show that the greenbacks would likely continue to gain strength in general while traders buy additional treasuries. Aside from that, there is some unknown factor relative to the United Kingdom and participants should take extra care.
Since today is the Independence Day holiday in the United States, we should anticipate a very noisy market unless liquidity will flow intensely that could prompt further shocking news. Generally, we can expect for some quiet fluctuation in the trading area.
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