Home Become a Member Contact Us WinPicks Software Scoresline Sports Forum

Forums   Register   Profile   Inbox   Address Book   Subscribe   My Forums   Search   FAQ   Login   Log Out
RE: Daily Market Analysis from ForexMart   Logged in as: Guest
Users viewing this topic: none
  Printable Version
All Forums >> [Miscellaneous] >> General discussion forum (topics not related to stock market) >> RE: Daily Market Analysis from ForexMart Page: <<   < prev  22 23 24 25 [26]
Login
Message << Older Topic   Newer Topic >>
RE: Daily Market Analysis from ForexMart - 10/10/2018 4:46:17 AM   
Obasi FXMart

 

Posts: 53
Joined: 7/3/2018
Status: offline
EUR/USD Fundamental Analysis: October 10, 2018


The euro against the US dollar exhibited a sharp drop during the Tuesday session because of Italian policy news, as well as, deputy PM Salvin rhetorics in plans of maintaining the budget and EU rules are anticipated to change. A strong dollar added more concern, resulting to surge in US Treasury yields. However, the euro begins to take the lead later on as the dollar weakened in the market due to the drop in US bond yield after reaching record highs. Moreover, risk sentiment has just returned in the market giving a positive impact following a hawkish tone in the Wall Street in the global market.

In a technical aspect, a long-tailed Doji candle was observed, implying a sell-off from the September high of 1.1815. A bullish reversal would be confirmed if the spot closes this day higher than the Doji candle of 1.1503. Based on the chart, the descending line has been cleared and trades above the 50- and 100-EMA with the RSI at 55, siding with the bulls. The 4-hour chart shows a bullish RSI divergence. It seems that this will result positively on long-legged Doji candle yesterday, confirming a bullish reversal. Yet, there would be lesser tendency to turn bullish from bearish if the Italian bond yields surge in the European session.

(in reply to Obasi FXMart)
Post #: 501
RE: Daily Market Analysis from ForexMart - 10/11/2018 1:15:44 AM   
Obasi FXMart

 

Posts: 53
Joined: 7/3/2018
Status: offline
EUR/USD Fundamental Analysis: October 11, 2018


The euro rose during the Wednesday session. A breakout on the level of 1.15 indicates that there is a demand for the currency. There is a “risk on” move with US traders and drive momentum.

We have seen this scenario where just recently the euro got a sell-off and the North Americans will have a steer to move forward in later in the day, of course, taking note of riskier currencies. Similarly, this is how the trading with the S&P 500 futures market and other precious metals. Worries on Brexit will still be apparent, as well as the debt issue with Italy. These bring uncertainty to traders but the US traders will give attention to their own economy.

Trading on mornings around 9 am where there is a momentum on the oversold situation can be advantageous. Eventually this is likely to change its course but for now, it seems to be moving steadily. The euro pair is not that far from forming the bottom for long-term, where both the resistance and support were previously located last year. A psychologically important level was found at the resistance of 1.18 which seems to be the aim of buyers. Moreover, a lot of noise will likely be present and considering the pair, we can expect more buyers below. A breakdown below 1.14 could result in a sharp decline. Nevertheless, it is less likely to occur at the present time.

(in reply to Obasi FXMart)
Post #: 502
RE: Daily Market Analysis from ForexMart - 10/12/2018 5:39:21 AM   
Obasi FXMart

 

Posts: 53
Joined: 7/3/2018
Status: offline
EUR/USD Fundamental Analysis: October 12, 2018

The euro major pair climbed to the top at 1.1590 prior to the release of the US data, which was the highest since October 3. In regards to recent US president, Donald Trump, the statement on fed’s tightening and plunged down equities influencing weakness of dollar during yesterday’s trading. The pair reached the intra-day high 1.15992 since the US CPI and unemployment reports did not meet expectations, resulting in further bullishness of the trend since today is the last day of the week.

In the beginning of the Asian session, the pair broke the level of 1.16, reaching an intra-day and even the monthly high at 1.16103 from 1.1606, grew by 0.11%. With Japan’s equities proceed to trade in red, other major markets such as India, Singapore, and China sighted equities to have an optimistic price action. The US dollar has been trading at its lowest level in October against other markets on Friday while continue to lose in US Treasury yields bringing pessimistic sentiment on Wall Street. On Friday, the dollar traded at 95 against six major currencies from 96.15 monthly high on Tuesday.

(in reply to Obasi FXMart)
Post #: 503
RE: Daily Market Analysis from ForexMart - 10/15/2018 4:58:43 AM   
Obasi FXMart

 

Posts: 53
Joined: 7/3/2018
Status: offline
EUR/USD Fundamental Analysis: October 15, 2018


The euro against the US dollar resumes trading in a slow but steady pace while the market focuses on the dollar being unable to grow. Hence, the dollar was able to gain some decent profits since the start of the year but the euro and the pound were able to take their stand against the dollar. Meanwhile, this gives pressure on the dollar but uncertainty is still on the concern if the dollar could still get a lead.

The Fed is doing what it can to bring the dollar up but it is insufficient. They tried to break lower than 1.15 in the past few weeks but there have been strong buying of the pair and fails as it faced strong purchases and bounce over 1.15. The bulls also were not able to push the prices but still keep going that resulted in a flat in the past few weeks.

There are also concerns on US account deficit in a negative state for a long while which is anticipated to resume for medium-term which cannot be changed for the night despite government’s efforts. This adds pressure to the dollar with rising borrowing costs that will worry the dollar bulls in the medium term. For today, the US retail sales data adds volatility while the bulls are trying to take the lead.

(in reply to Obasi FXMart)
Post #: 504
Page:   <<   < prev  22 23 24 25 [26]
All Forums >> [Miscellaneous] >> General discussion forum (topics not related to stock market) >> RE: Daily Market Analysis from ForexMart Page: <<   < prev  22 23 24 25 [26]
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts


Forum Software © ASPPlayground.NET Advanced Edition 2.4.5 Unicode

0.023