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  1. #1
    AppleFXMart is offline Senior Member
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    Default Daily Fundamental analysis by ForexMart

    GBP/USD Fundamental Analysis: October 7, 2016

    The sterling pound continued to plummet during Thursday’s trading session, after the GBP/USD pair dropped to 1.2601, its lowest ever in 31 years. The currency pair also decreased by 400 pips or roughly 5% during the Asian trading session in just a matter of minutes. Prior to the Tokyo session, the GBP/USD pair traded with a 10-pip spread and the currency’s charts portraying lows at 1.2000 and below. However, there is no clear reason yet as to what caused the currency pair to suddenly backslide. Analysts are expecting that the currency pair would further drop in the coming sessions due to massive political and economic uncertainties, as well as deterioration of the UK economy.

    The GBP/USD was able to immediately revert back to the 1.2400 trading range. However, the technical indicators for the pair is presently erratic due to its recent activity. However, if the GBP/USD manages to maintain its risk levels below 1.2500 points then the currency pair would be able to recover even up to 1.2600. Market analysts are however warning traders that more sharp declines and sudden surges are to be expected in the upcoming trading sessions, particularly during this period that traders and investors are awaiting the release of the US Non-Farm Payrolls data in order to gauge the level by which they would resume their selling based on the stance of the pair.

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  2. #2
    AppleFXMart is offline Senior Member
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    The USD/CAD pair continued to consolidate for the duration of today’s trading session although it initially attempted to break through resistance levels at 1.3250 points following a late onset of the US dollar’s strength but was immediately countered by a sudden wave of sellers, causing the pair to drop below 1.3200.

    Support levels for the pair came in at the 1.3180 trading range with resistance levels at 1.3250. These indicators are expected to maintain the USD/CAD’s price action for today’s session. The price action for the pair is largely dependent on economic data to be released today, such as the US non-farm payrolls data which is scheduled to be released today together with employment reports from Canada. The USD/CAD pair is then expected to have increased volatility compared with other currency pairs due to the release of these highly relevant data.

    Traders are advised to keep out of today’s session since the economic data from Canada and US are expected to come out at opposite terms, which can make it hard for traders to predict the pair’s future price actions. Traders are also reminded to avoid the high volatility levels of the currency pair and wait for the increased activity to die down before going to trading on the USD/CAD.

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  3. #3
    AppleFXMart is offline Senior Member
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    USD/JPY Fundamental Analysis: October 7, 2016

    The USD closed down today’s trading session with a higher value against the JPY for the eighth consecutive session after an increased interest rate differential which caused the surge in the US dollar. The USD/JPY pair was able to reach its highest trading level since September at 104.155 points. The pair then settled at 103.948 points, increasing by +0.42% or 0.439 points

    The US dollar continued its increase against the Japanese yen after a highly positive US jobs data further increased the possibility of an interest rate hike by the Federal Reserve before the end of 2016. Another additional reinforcement was the release of the Unemployment Claims report which came in at 249,000, which is considerable lower than the expected 255,000 and last week’s release of 254,000. This lowered unemployment claims data might be a suggestion that the US economy might be nearing full employment, with employers wary of letting go of their present employees due to the lack of qualified people for the job.

    On the other hand, Japan’s economy rates are on negative territory, with benchmark yields for its 10-year treasury note increasing at 1.7146%. Japan’s 20-year treasury bonds also went up higher to place at 1.4623%.3.jpg

  4. #4
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    EUR/USD Fundamental Analysis: October 7, 2016

    The pair showed slight volatility with defined ranges and did not move sparingly just a day ahead of the released of NFP. Euro is not that affected with Brexit but still weakened. For the whole day yesterday, it only reached the highest value at 1.3209 which is far from the strong resistance at 1.1250 level. Moreover, the announcement of the European Central bank that there will be no rate cuts did not help. Instead, the Euro further weakened that fell to 1.1150 support level during the US session. When the stop-loss for pound was operated it declined to 1.1132 level.

    The upcoming release of NFP would say a lot on price activity and not much on technical and fundamental actions. Hence, it is predicted that Euro would fall between the usual range of 1.1150 and 1.1250 levels and the lowest support to be at 1.1045 levels. Until the NFP has been published, it is best for traders to hold off in the current market and look out for the NFP data considering both technical and fundamental forecasts and not just the news.
    The NFP data would tell if there would be Fed price hikes soon. If it is high then there would be a price hike while it goes at low levels then it would await next year. This will be a good opportunity for stock markets and in the pair as USd would depreciate. Short term trade would still depend on the reports. Traders should not be impulsive with the volatility and be cautious of trading errors.

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  5. #5
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    GBP/USD Fundamental Analysis: October 7, 2016

    The pair GBP/USD continues to consolidate this in the US session that steadied in the range 1.2600-30 and 1.2700 then abruptly fell in 800 pips. The reason is still questionable since it cannot be reasoned out easily with that number. Looking at the market activity, the traders are anxious to the immediate decline of pound this week.

    There is no major event but the affirmation from the French President that there road ahead will not be easy because of Brexit. Despite the progress it exhibited for weeks, people still not agreeable with it. The problem comes in with only few buyers, the number of bids would come to a halt when a big sized orders gets all brings it to a stop-loss as the sell order will be insufficient. In time, the price would keep going down and loses multiplies with excess of sell orders.

    Even though it managed to recover by 600 pips, there were still loses. Moreover,the expected release of NFP soon will make the market highly volatile. It is practical to be patient in trading and wait for the market to settle down or after the release of NFP data.5.jpg

  6. #6
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    EUR/USD Technical Analysis: October 7, 2016

    Even though the outcome of the German Factory Orders is positive, the single euro currency had declined. According to the Bank Governor of Finland Erkki Liikanen, there is a need to consider an increase for bond buying as the source of strength for EU economy .

    The EUR had a high level of confidence during the first day of the week but had a sudden decline for this day. The price plummeted below 1.1200 toward the 1.150 region within the interim of the plenary session of Europe. EURUSD easily broke the moving averages and held down in the 4 hour chart. Moving averages established a neutral condition. The resistance alighted at the 1.1200 region while the support marked the 1.1150. MACD and RSI falls in the negative zone.

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  7. #7
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    USD/CAD Technical Analysis: October 7, 2016

    The greenbacks and loonies were able to make a larger gains on Thursday by taking advantage to the dollar's strength. The price recovery occurred subsequent to a short decline yesterday. There is an upsurge in value as the buyers were able to break the current low at 1.3160 near the resistance level but the purchase interest promptly dimmed. Upon the opening of the NY session, bullish investors recurred on the market seeing the pair continuously strive up to the region of 1.3200. The moving averages settled below the USDCAD and preserved a bullish outlook as it was shown in the 4-hour chart. The level 1.3200 is seized by the resistance, support earned the 1.3100 mark. MACD histogram generates a buy signal. RSI get up at the overbought territory.

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  8. #8
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    USD/JPY Fundamental Analysis: October 10, 2016

    The JPY went higher in relation to the USD after a long losing streak in nine trading sessions after the release of a somewhat negative US Non-Farm Payrolls report disappointed investors and traders. The USD/JPY pair traded at 102.906, decreasing by -1.00% or 1.042 points.

    The US Non-Farm Payrolls report came out at 156,000, way below the expected 177,000 prediction for the NFP in September. Unemployment rates also increased by 5.0% from the previous data release of 4.9%. However, the data for the Average Hourly Earnings increased from 0.1% to 0.2%, with limited trader reactions since the data met its previous expectations.

    Investors are now speculating that the disappointment in the US payrolls report makes it impossible for a Fed rate hike in November, but is still strong enough for an interest rate hike in December. Market buyers were also compelled to book their profits due to a slight drop in US Treasury Futures data.

    The decrease in the USD/JPY came as a surprise to some investors since the economic data release, although on the negative side, is still strong enough to maintain speculations for an interest rate hike before 2016 ends. The pair is seen to further weaken since Monday is a bank holiday, and the absence of major market players could cause the pair to lose some of its current trading value.

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  9. #9
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    NZD/USD Technical Analysis: October 10, 2016

    The NZD/USD pair had unchanged rates during the last session at 0.7168 points with a possibility of daily lows at 0.7149 points. The NZD/USD is expected to slow down in spite of a diminishing trade activity surrounding the USD, and the negative impact of lowered oil prices to the NZD.

    The financial market in general has also moved towards the sidelines as different market players are now closely monitoring the second US presidential debate. The US market holiday is also expected to further cause stagnation in this particular currency pair.

    Investors are now awaiting a series of statements to be released by the Federal Reserve, as well as Chinese trading data and CPI data which are all due within this week. These data are all expected to have an impact on the NZD/USD pair.
    .0
    The resistance levels for the NZD/USD is currently at 0.7207 at the 100-DMA, with a significant possibility of a gain extension at 0.7521 at the 20-DMA. From there, the pair could possibly extend its range at 0.7275 at the 50-DMA. On the other hand, the pair’s current support levels is located at its two-month low of 0.7110, with a possibility of lowering at 0.7084 and 0.7064 points.

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  10. #10
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    GBP/USD Technical Analysis: October 10, 2016

    The GBP/USD pair saw little activity during the last trading session and consolidated at 1.2430 points following last week’s sudden crash has caused markets to speculate whether the sterling pound has based here or otherwise.

    The GBP/USD decreased from 1.2614 points to lows at 14 cents lower while the GBP has incurred increased volatility after the hard Brexit announcement from UK Prime Minister Theresa May. However, the sterling pound’s value might become useful for the Bank of England.

    For the pair’s technical indicators, the GBP/USD’s resistance is at 1.2397, only a few points shy of its high of 1.3056, with considerations that the market will be directly offered below. Meanwhile, analysts are saying that the currency pair’s technical bearings have lost some of its accuracy due to the pound’s recent sharp decline, but the risk is projected to remain at the downside despite the negativity surrounding the sterling pound.

    The pair’s technical indicators maintained their bearish stance, with RSI indicators headed towards 19 points. On the other hand, selling interest levels are placed at 1.2500, with a possible recovery of the pair going up the 1.2620 trading range.

    The GBP/USD pair saw little activity during the last trading session and consolidated at 1.2430 points following last week’s sudden crash has caused markets to speculate whether the sterling pound has based here or otherwise.

    The GBP/USD decreased from 1.2614 points to lows at 14 cents lower while the GBP has incurred increased volatility after the hard Brexit announcement from UK Prime Minister Theresa May. However, the sterling pound’s value might become useful for the Bank of England.

    For the pair’s technical indicators, the GBP/USD’s resistance is at 1.2397, only a few points shy of its high of 1.3056, with considerations that the market will be directly offered below. Meanwhile, analysts are saying that the currency pair’s technical bearings have lost some of its accuracy due to the pound’s recent sharp decline, but the risk is projected to remain at the downside despite the negativity surrounding the sterling pound.

    The pair’s technical indicators maintained their bearish stance, with RSI indicators headed towards 19 points. On the other hand, selling interest levels are placed at 1.2500, with a possible recovery of the pair going up the 1.2620 trading range.

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