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EUR/USD Technical Analysis: August 4, 2017 - 8/4/2017 1:03:25 AM   
Andrea ForexMart

 

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The results of the European yields were mixed as it restricted the uptrend of the euro which signifies that Draghi has successfully kept the rates low. The ECB sees the need for the continuous support because of the less than expected result of the PMI. The European retail sales set in stronger than anticipated but this was countered by high jobless claims.

The EUR/USD was not able to surpass yesterday’s range but was able to increase the support level. Nevertheless, the trend persists to be positive with the support close to the 10-day Moving Average at 1.1747. The resistance level is seen close to the weekly highs at 1.1910.

Overall, the momentum is optimistic with the MACD histogram shown a black indicator with an upward sloping direction that could lead to a higher exchange rate. The RSI positioned higher with the price indicating a positive momentum upward. Currently, the price is set at 77 which is higher than the trigger level 70 to enter the overbought area. Hence, a correction is possible to occur.


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EUR/USD Technical Analysis: August 10, 2017 - 8/10/2017 3:44:39 AM   
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The Euro against the U.S. dollar moved sideways during the Wednesday session and consolidates higher than the 1.17 level. If a breakout occurs higher than the 1.1765 level, the trend goes climb higher.

For long-term, the trend has not successfully declined enough to sustain the level. There have been two impulsive moves headed downward and there is a chance for this to further decline. If a breaks down lower than the 1.1680 level, the price could further go down towards 1.16 level.
There is significant volatility in the market as it abruptly moves sideways and adjusted higher or lower as traders have made an unexpected move. During this time of the year, there is usually low liquidity since most senior is a holiday in big trading desks. Hence, this leaves the market a bit dormant.


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GBP/USD Technical Analysis: August 24, 2017 - 8/24/2017 3:42:41 AM   
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There was a choppy session in trading British pound against U.S. dollar on Wednesday. Traders were unsuccessful in their attempt to bring the price higher. There was a breakdown at the level of 1.28 which gives a bearish tone in trading. Although, the 1.2850 level and above could offer sufficient selling pressure to reverse the trend. It is advisable to sell in short-term rallies as the market continues to be cautious to possess the British pound ahead of the negotiations.

A resistance is found at the 1.29 level which could appeal to sellers between the levels of 1.2850 and 1.29. On the other hand, a break lower than the lows of the day could lead to a further decline with a short-term target of 1.2650 level.


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USD/CAD Technical Analysis: August 25, 2017 - 8/26/2017 2:06:11 AM   
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During the Thursday session, the U.S. dollar dropped against the Canadian dollar as it reached the 1.25 handle once again. If the market was able to breakout below, this could fasten the pace to proceed downhill. Although, this would not be a facile process. A rebound is also plausible which is already foreseeable if it happens but the 1.26 level remains resistive. A breakout in the upper channel which would have a big influence to the pair as traders react to the speech with Janet Yellen for today. Volatility could exist in the market, despite the ones in power are the sellers.


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EUR/USD Fundamental Analysis: August 30, 2017 - 8/30/2017 10:32:51 PM   
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The rates are still maintained despite high volatility during the Tuesday trading session. The volatility is not surprising as the market reacted to the speeches from Draghi and Yellen on Friday. The speeches finished late for the day when the U.K. market closed as well as on Monday which is a holiday in the U.S.

Volatility is already anticipated which is what happened yesterday. Furthermore, the monthly end currency flow added to it. It supported the pair to move higher over the 1.20 level as it moved towards 1.2070 prior to the U.S. session. Higher global risk also partly contributed to the movement which directly involves the U.S. as the DPRK persists to threaten with different missile tests. Nevertheless, the situation has been handled pretty well and the same time supported the dollar to strengthen in the later in the day.

There was a correction seen that further pushed the pair towards the 1.20 level that closed the day when it started. The movement occurred quite fastly as traders are anxious on how long the trend will last. They are also cautious and trying to see how long before the ECB will intervene in the event of strong euro. These have had a big impact on euro and there will most likely be choppiness for short-term.

For today, the preliminary GDP data and the ADP report from the U.S. are anticipated to be released today which could greatly affect the pair and monitor its impact on the increase of rates. This would also determine if it big enough for the Fed to proceed with a quick rate hike by the end of the year. Hence, volatility is already anticipated and the holiday period is about to end as the EUR/USD pair would have a big change in action for short-term.


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EUR/USD Technical Analysis: September 6, 2017 - 9/6/2017 2:50:21 AM   
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The EURUSD moved sideways during the opening of Tuesday’s session, however, Americans have returned to market and bought the single European currency. Another attempt to touch the level 1.20 was made and expected to offer some psychological resistance. As it may be a reversal of the risk off sentiment that was felt across the board. Nevertheless, Americans are planning to embrace the risk on attitude within the currency markets.

The weakness of the greens were generally seen, hence the euro-dollar pair attracted further gains. A close over the 1.20 region based on a daily close has the potential to push the market higher in the longer-term and the targets remains on top of 1.25 level.

Pullbacks keep on buying opportunities and later on will obtain an impulsive trend to move upwards. But, it should be noted that the 1.20 area is highly significant. Several opportunities could probably appear, however patience is very necessary to find the pullbacks which could provide signals when is the best timing to be involved in the market.




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Daily Market Analysis from ForexMart - 9/7/2017 1:44:46 AM   
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EUR/USD Fundamental Analysis: September 7, 2017

As the week begins, the EUR/USD was seen consolidating and trading in a tight range which continues in the past 24 hours. But it is possible to change its course after the next 24 hours since the markets will draw their attention towards the single European currency, also with the plan of the European Central Bank in the near term.

The euro-dollar pair hovered at the level of 1.19 in the following day, however, there are no hints of any specific trend. Generally, markets appeared to be in a consolidation mode because traders and investors are waiting for the situation to become normal and calm again.

The tension and global risks remain high as the market somewhat predicts for an approaching attack from the Democratic People's Republic of Korea. With this, the dollar weighed down with a lot of pressure since Monday.

However, the focus for this day could possibly be in the euro due to the announcement made by the ECB about interest rates which is followed by a press conference. The central bank planned to maintain the rates steady and this is what M. Draghi expected to say during the press con. Hence, this will determine the direction of the EUR in the short term.

The ECB is now very cautious about the strengthening of the euro as the bank failed to reverse or change the fundamentals and planning to put euro in a bid in order to limit the currency’s strength. If Draghi did not do so, then it is expected the EUR/USD will move under the 1.19 handle and drove near 1.18 in the near term. Otherwise, the pair will return to its highs at 1.2070 again.

Ultimately, there are no major releases from the United States or from the euro region. Therefore, the focus will turn to the developments in Korea, as well as to the ECB.


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Daily Market Analysis from ForexMart - 9/13/2017 1:47:33 AM   
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USD/JPY Technical Analysis: September 13, 2017

The U.S. dollar moved sideways at the beginning of Tuesday session. Soon after, the pair rallied much higher. Currently, the level of 110 is being tested but there is still a gap that could raise some concerns. Nevertheless, this gap has been filled. However, traders should still be careful since there is a sign of “overbought” in the market. A pullback could happen after some time since the market is sensitive enough to react suddenly before going forward. Consequently, a breakout occurred at 110.25 level and the price will most likely move forward towards 111 level.


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Daily Market Analysis from ForexMart - 9/14/2017 2:21:24 AM   
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EUR/USD Fundamental Analysis: September 14, 2017

The EUR/USD further declined on Wednesday due to the widespread recovery of the dollar. As of this moment, the greenbacks continued trading in a strong manner despite the sluggish data presented by the US Producer Price Index (PPI). This did not really influence the USD since the market is starting to like it and drove much higher among other instruments. However, this made an impact to the euro-dollar pair and led to a downturn in the past 24 hours.

There are also assumptions that President Trump and his team are one of the reasons for the dollar crashing in the previous months, but his actions appeared to support the greens now. The partners of Trump seems to lack support and he even attempted to negotiate with the members of the opposing party to obtain some help in accomplishing his reforms and further plans. D. Trump is trying to drive the issue about debt ceiling until the end of the year, while there are rumors that the American leader is interacting with the Democrats to fulfill his healthcare program and tax reform.

The underlying question is about the efficacy of the plan as a whole and the effectiveness of the project’s other details. Moreover, the market and the USD are in favor with this which ended on buying the dollar with an advanced optimistic outlook. Hence, the EURUSD moved lower down to 1.19 mark and currently sits at the 1.1875 support which is quite weak.

Ultimately, there are no scheduled economic releases from Europe for today, except for the major CPI data from the United States. The figures are expected to provide an outlook regarding the current inflation in the US. If the results were strong, it will enable the continuous recovery of the dollar in the near term, pushing the pair close to the 1.18 area.


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Daily Market Analysis from ForexMart - 9/19/2017 3:35:00 AM   
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GBP/USD Fundamental Analysis: September 19, 2017

The trading has been sluggish but the pound still remains to be the tops in the volatility as it continues to move the market in the past 24 hours. Yesterday, the only major news was the speech of Carney and the market anticipates a hawkish decision which further boosts the GBP/USD pair during the first half of the day. However, it declined later on.

Although Carney has mentioned monetary tightening, the Bank of England still needs to take manage the economy. Yet, there are no specific dates which frustrate the market as the British currency dropped after the speech and move lower than 1.35 for the day. A rebound occurred overnight and traded higher than 1.35 although this could just be a form of a correction in a bigger uptrend that could still change.

Considering the upcoming data and the recent developments in the U.K., it is possible for the BOE not to give attention to the economy and the central bank will most likely react but only in the succeeding months. The BOE already said that they will have a reaction amid the uncertainty with the ongoing Brexit. These would result in a rate hike in the upcoming months. Both the central bank and the market are anticipating for the Brexit uncertainty would wear off in the next few months which hasten the decision of the bank.

Today, there is no major news from the U.K. or from the U.S. Hence, consolidation is already anticipated ranges between 1.35 and 1.36 for the day as the market manages ahead of the FOMC meeting tomorrow. The bullishness is presumed to persist for the GBP/USD pair for short-term and target for 1.38 and 1.39 levels.


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