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USD/JPY Technical Analysis: June 19, 2017 - 6/19/2017 3:24:09 AM   
Andrea ForexMart

 

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The U.S. dollar against the Japanese yen climbed higher during the Friday session. There is a massive resistance found in the 11.40 level to reverse the trend followed by a decline. A neutral candle is formed for the day although the market is trying to gain momentum as they are trying to recover following the drastic move in the upside on Thursday.

The Federal Reserve is being hawkish more than expected which is favorable for the greenback since the Bank of Japan moves contradictorily when it comes to monetary policy. The 110 region remains supportive which would most likely become the floor of the market.

For now, it is advisable to short this pair to take advantage of its short-term decline and rendering more support for every short-term credit. This is still not finite and the trend could decline anytime although the next move would most likely be in the upside reflecting the impulsiveness of the market. Hence, buying is much more practical in the current market condition.

The initial next target would be at 112 then 112.50 level. For long-term, the trend could reach as high as 115 region although it might take longer to achieve this. There is also a tendency for the pair to be volatile which is not surprising. It is good to trade this pair in the current market as it could also benefit the greenback traded against the yen since the BOJ is dovish and most likely continue for a longer period of time.




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Post #: 361
USD/CAD Fundamental Analysis: June 20, 2017 - 6/20/2017 4:14:45 AM   
Andrea ForexMart

 

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The USD/CAD pair continues to consolidate within its range lows as the loonie makes another attempt to recover its losses and possibly trigger a bounce in its value. Now that the Bank of Canada is more than eager to help the Canadian economy make a 360-degree turn, the pair’s bulls will be in for a hard time as it tries to induce any kind of price bounce. Should the pair manage to create a bounce, then this should be viewed as a selling opportunity and should not be taken as a trend adjustment.

On the other hand, oil prices are still trading within its bottom rungs and remains weak as of the moment, however the CAD seems to be unaffected by this and has still managed to look very positive and has remained trading in a very positive manner. The CAD will only be able to gain some measure of short-term strength if the oil prices will be able to recover in the short run, and if this happens, then the USD/CAD pair might be able to make a substantial attempt to go beyond the critical range of 1.3000 points. The currency pair has weakened significantly ever since it surpassed 1.3500, with this region signalling a trend shift. The fact that the currency pair is still doing very well in spite of a drop in oil prices and dollar strength just goes to show how much of a change has happened within the price action of the USD/CAD pair. Meanwhile, the economic releases from the Canadian economy has showed consistently positive readings, with the BoC announcing its plans to help keep the country’s economy on the upside.

For today’s trading session, there are no major releases from the Canadian economy, and the USD/CAD pair is expected to range and consolidate on both directions of 1.3200 points.


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Post #: 362
AUD/USD Technical Analysis: June 21, 2017 - 6/21/2017 2:29:32 AM   
Andrea ForexMart

 

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The Australian currency attempted to initiate a rally amid the day and reversed to sell off. The 0.7575 mark was being tested due Aussie’s actions, hence, it provides a significant amount of support. In case that a breakdown occurred beyond that point, the market will be pushed down through 0.7550 region which is an interesting area in the past.

The market will keep on reaching the 0.765 handle when a bounce happen and when it break into the upside will drove near the region 0.7750.

At the end of the day, the market will continue following its risk appetite and traders should watch closely what will happen within that point. The central bank of New Zealand is expected to release a statement about interest rates scheduled today while the Aussie dollar will seek the same path.

Moreover, gold markets remain to be in a downbeat which can be felt by the AUD as well. With this, players should search for a support below prior the rebound. As the market still have challenging nature to deal with because of the many bits and pieces moving around, particularly the plan of the Fed Reserve to increase rates.

Above all, the pressure brought by the precious metal, gold paired with the general outlook on risk tolerance is projected to wrought a chaotic situation over the market.

In this event, it is complicated to determine where to go next as the consolidation is anticipated to keep going.


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