Daily Market Analysis by ForexMart

[AppleFX]

Hi all.

Me and my team will be posting daily analysis on this thread. You may leave comments.

Thank you.

[AppleFX]

USD/JPY Fundamental Analysis: October 27, 2016

The USD decreased its value in relation to the JPY during Wednesday’s session after yen traders resorted to safety buying as a reaction to the drop in US equity markets. The trading session closed down with the USD reverting back to its previous value against the JPY. The USD/JPY is currently at 104.468, increasing by up to +0.25% or 0.260 points.

Analysts are stating that the USD dropped further due to concerns regarding the Federal Reserve’s monetary policy and uncertainties regarding the impending US presidential elections. However, the rallying of the USD is an indicator that there is an increased possibility for a Fed rate hike in December, and risks are possibly leaning on the downside territory. This will then add more focus to the release of the Durable Goods report on Thursday and Advance GDP data which will be released this coming Friday.

Thursday’s trading session is expected to have more double-sided trades since traders are monitoring the general direction of the US Treasury yields, as well as high-risk assets demand. Traders should also consider monitoring the stock market, since the JPY is expected to increase if support levels for the US equity markets starts decreasing.

[AppleFX]

EUR/USD Technical Analysis: October 28, 2016

The center of attention of the market is on the Initial Jobless Claims and Durable Goods Orders releases. For that reason, there was no major event scheduled in the European Union as per the market calendar.

The pair established a sluggish condition amid the Asian session yesterday. Meanwhile, the price reached the 1.0900 level by which the downward momentum subside. It further strengthens as the pair plunged off the region, enabling the EURUSD to regain its profits during the European trades.

It was shown in the 1-hour chart that the price maneuvered on top of 100-EMA where the euro meets a solid support. The 50 and 100 EMAs kept intact on its recent position while 200-EMA headed southward. Resistance arrived at 1.0950 region, support approached the 1.0900.

MACD expanded and demonstrated weakening against the seller’s strength. RSI prevail in the neutral position.

[AppleFX]

GBP/USD Fundamental Analysis: October 28, 2016


The GBPUSD demonstrated an active and ongoing trades on Thursday along with the UK GDP Data release. The GDP release was highly anticipated by profuse investors and the market generally since this quarterly basis is a primary indicator of the economic decline after the referendum was ratified.

Upon the issuance of the data, the pound and greens established a straight route approaching the 1.2240 range. The economic health indicator presented a better-than-expected 0.5% value compared to 0.3% which enable the pair to push towards 1.2270.

The bulls assumed that they could break the above level of 1.2270 but failed to do so. According to forecasts, resistance sits at 1.2280 but there is a tendency that it could manage to its daily high at 1.2273 or the possibility to made an immediate fallback.

[AppleFX]

USD/CAD Technical Analysis: October 28, 2016

The CAD experienced a drop in relation to the USD after dovish statements from the Bank of Canada last week plus corrections in crude oil prices put downward pressure on the CAD. The USD/CAD pair was able to maintain its bullish stance during Thursday’s trading session, with the pair remaining at the 1.3400 region, which is the pair’s current critical range. However, the pricing for the currency pair was able to drop slightly prior to the opening of the New York session.

The USD/CAD was able to go over its current moving averages after its 50-EMA provided ample support for the currency’s price in the daily chart. However, the pair is seen to have probable difficulties with regards to moving lower from the 50-EMA. The moving averages for the currency pair are generally higher, and analysts are expecting resistance levels to be at 1.3400 points while support levels are expected to be at 1.3300.

The MACD indicators for the USD/CAD pair is still consolidating within its levels, while the RSI remains at the overvalued trading range. Analysts are expecting that if the pair manages to go break through the 1.3400 region, then the USD will be able to have more profits upon reaching the 1.3470 range. On the other hand, if the pair drops and hits the 1.3300, then the market is advised to look at the trading range of 1.3250.

[AppleFX]

USD/JPY Technical Analysis: November 3, 2016

   The USD continues to be subject to downward pressure during Wednesday’s trading session due to uncertainties brought about by the upcoming US Presidential elections next week. The USD/JPY pair was unable to maintain its previous levels of 105.00 after a heavy seller resistance within this particular region, causing the currency pair to lose some of its value. Wednesday’s trading session saw the pair remain in the negative territory as the downward momentum for the currency pair continued. Seller pressure also pushed the USD/JPY further below 104.00 and is now approaching the 103.00 trading range.

   The USD/JPY pair broke through 103.50 and is well on its way to 103.00. The pricing of the currency pair went over the 100-EMA and is testing the 200-EMA for the pair’s 4-hour chart. Meanwhile, moving averages for the USD/JPY is currently on the downward direction. Resistance levels for the pair are expected to be at 103.50, while support levels for the pair are expected to be at 103.00. MACD indicators for the pair declined, showing seller strength. RSI indicators are now a few pips away from the oversold level which signals a possible downward move for the pair.

   If the USD/JPY continues to be subject to downward pressure, then the pair could possible reach its previous low of 102.50. However, there is still a probability that the pair would be able to reach its resistance levels at 103.50-103.80 points.

[AppleFX]

NZD/USD Fundamental Analysis: November 3, 2016

The NZD was able to reach its highest levels since October, causing the pair’s trend on its daily chart to go in the upward direction. Presently, the NZD/USD pair is trading at .7287 after increasing by +1.43% or 0.0103 points.

The Federal Reserve’s meeting on Wednesday backtracked to election-related concerns, whose results could possibly put an increased pressure on the USD. Democratic candidate Clinton is slowly being overtaken by Republican candidate Trump, and investors and traders are now banking on a possible Trump victory. Meanwhile, the Federal Reserve was unable to sway traders and investors with its most recent adjustments to its monetary policies. The Fed voted to maintain its current interest rates, but left out hints in its statement which could have either made or broke the possibility of a rate hike in December.

The NZD increased significantly on Wednesday after recent government data exhibited positive employment growth for the nation in the third quarter, with this growth accelerating to three times the previous growth rates in July and September. This could be an indicator that the Kiwi economy might be doing even better than what the Reserve Bank of New Zealand initially thought, and could also mean a possibility of an interest rate cutback in the coming weeks.

[AppleFX]

EUR/USD Fundamental Analysis: November 3, 2016

The EUR/USD pair continued to be on the bearish territory as the US dollar continued to decrease in value during the last trading session. The market is now considering the possibility of a Trump victory, and a lot of market players do not want to be caught off-guard which was what happened during the Brexit shock vote. The impending US elections has already prompted investors to go to safe haven currencies such as the JPY and CHF. Normally, investing in the USD during times like this would be beneficial to investors, but since the USD has turned risky, investors are now resorting to gold and other safer investments.

The currency pair is now placed over the 1.1100 region with a lot resistance levels surrounding this particular region. The statement released by the FOMC did little to appease the market since the statement was able to meet market expectations. However, the Fed is still open to the probability of a rate hike in December even though the central bank did not give out any hints during its previous bank meeting. The Fed statement was unable to induce market volatility and only caused a few jumps for the currency pair.

The market is not expecting any major economic news releases from the eurozone. However, the market is expecting the release of the UK High Court ruling which will be determining whether the Parliament will be invoking Article 50. If the Parliament votes “No”, then Theresa May would have full bearings of the Brexit strategies, causing the GBP to be negatively affected and could cause the USD to inch higher.

[AppleFX]

USD/CAD Technical Analysis: November 4, 2016


The loonie established a neutral position versus its base currency as of yesterday. Seeing the greenbacks softened consequent to the unfavorable result of the American labor statistics. While news regarding the oil price reduction had affected the Canadian dollar.
The pair stayed in the neutral phase since last week and remained the neutral opinion until now. Moreover, USDCAD stick around the 1.3360 as its weekly lows. The price toggle in the boundaries of 1.3400 and 1.3350 levels.

As shown in the 1-hour chart are moving averages that sits in the neutral position as well. The pair headed over the downward direction but blocked by the 200-EMA. While the accelerating notion turned down upon arriving to the regions of 50 and 100 EMAs.

Resistance settled in the 1.3400 level, support is located at 1.3330 region. MACD indicator is placed within the centerline.

If the histogram attained the positive zone it means that buyer’s strength are growing. When the indicator reached the negative territory, this implies the seller's capability to manage the entire market. RSI is found also in the neutral domain. It is expected that the pair will maintain a bullish outlook providing that the price is on top of the 1.3330.

[AppleFX]

GBP/USD Technical Analysis: November 4, 2016


Since the recently issued UK’s Purchasing Managers' Index presented much better results which cause another reinforcement for the sterling on Thursday. On the same day, the pound were able to optimize on the back of BoE’s conservation of rates.

The pair demonstrated a positive tone and kept a bullish position amid the trading day. On the other hand, the GBP develop another bullish outlook in the interim of EU hours.

As traders attempted to push the pound to a higher level it reach the 1.2500 resistance level. Upon breaking the 100-EMA, the price headed north close to the 200-EMA ahead of the NY session. Current resistance can be found at 1.2500, support sits at 1.2400. MACD is located in the positive zone. The histogram escalated which means improved strength for the buyers. RSI is seen at the overbought condition.

In case that the pair preserved a bullish outlook, it would keep its reversal moving towards the 1.2500 region.

[AppleFX]

EUR/USD Fundamental Analysis: November 7, 2016

The EUR/USD is expected to incur significant gains due to risks that Donald Trump could possibly win the upcoming presidential elections, something that the international market did not anticipate. However, some market players are also saying that the USD would be able to regain some of its strength over a few days and a relief rally would occur should Clinton come out as the winning candidate in the elections. Prior to the opening of the Monday session, Clinton was already cleared by the FBI with regards to her e-mails and this is expected to be good for her campaign and has already caused some currency pairs to open up certain gaps.

The EUR/USD pair has already dropped by up to 70 pips and this is just a sneak peek of what could possibly happen if ever Clinton wins the presidential elections, especially since the market is now anticipating a Clinton victory with Trump’s chances becoming invariably slim.

Market players are expecting that this particular gap in the currency pair will be temporarily covered, while the USD is set to regain some of its lost value during the next trading sessions, especially with the impending presidential elections.

[AppleFX]

Technical Analysis: November 7, 2016


The USD/JPY pair was able to make a small recovery during last Friday’s session after a series of risk-offs which hit the European and American stock market. However, the pair continues to stay in the negative territory and traded within Thursday’s low levels on Friday’s session. The currency pair had a fairly bearish stance after the pair experienced selling pressure above the 103.00 region. Resistance was encountered by USD bulls along the 103.20 trading range where the 200 EMA is also located. The 200 EMA maintained the pressure on the USD/JPY by resisting all possible recovery moves.


The 50 and 100 EMAs for the currency pair decreased quickly, while the 200 EMA maintained its bearish outlook for the session. Resistance levels for the currency pair is expected to be around the 103.50 range, while support levels are expected to come up at the 103.00 region. The technical indicators for the USD/JPY pair are seen to be slightly bearish, with an increase in the MACD indicator showing a weakness in seller positions. Meanwhile, the RSI indicators for the pair is still consolidating within its undervalued regions.


The USD/JPY pair is expected to have its resistance levels at 103.50 if the currency pair would be able to consolidate over the 103.00 region. However, the USD/JPY might again experience a decline if the pair closes the session with a lower value than this particular level.

[AppleFX]

USD/JPY Fundamental Analysis: November 7, 2016

The USD is expected to increase significantly against the yen during Monday’s trading session as a result of investor reaction to reports that the FBI will be dropping its investigation of US Presidential candidate Hillary Clinton’s e-mails and will not be filing any charges against the Democratic candidate.


This then means that the Monday session is most likely to be a risky day as investors are expected to go on an aggressive USD and stock-buying spree especially after last week’s sell-offs. Investors are also expected to sell their safe haven assets which were bought as hedge against the probability of a Trump victory, which includes the JPY, EUR, and gold stocks. The USD/JPY dropped to its support region located at the 102.799-102.155 range, going down at 102.533. The pair is expected to rally back to at least 104.03 to 104. 383 if the short-term rally for today’s session proves to be strong enough for the currency pair.


Market players are expected to mainly focus on the upcoming elections even with new economic events taking place, after which, the market is expected to shift its focus on the expected Fed rate hike this coming December. These events are expected to induce an upward shift in the value of the US dollar. The Bank of Japan is expected to release the minutes of its latest Monetary Policy Meeting, while the Average Cash Earnings is expected to be released at 0.2%. Minor reports from the US to be released this Monday are the Loan Officer Survey, Labor Market Conditions, 10-Year Bond Auctions and Consumer Credit data.

[AppleFX]

USD/JPY Fundamental Analysis: November 8, 2016

The USD largely increased in value as compared to the JPY due to an increased in the demand for high-yield assets. This rally in the USD was mostly due to news that the FBI did not find any incriminating information in presidential candidate Hillary Clinton’s e-mails. Aside from a surge in high-yield assets, this news also led to rallies in the international stock market, and the demand for the US dollar surged after investors shifted from the safe haven currency. The USD/JPY pair closed down the previous session at 104.474 points after increasing by 1.37% or 1.411 points.

The USD/JPY is expected to continue its upward direction until Tuesday’s session since investors are expected to add up their bullish bets for a possible Clinton victory. Clinton currently has a 90% chance of winning the elections which is set to happen this coming Tuesday. Meanwhile, the JPY continues to reprise its role as a fund currency due to Japanese banks consistently offering low-level interest rates.

US Treasury yields also increased on Monday and this has helped augment the spread between Japan’s government bonds and the US 30-Year Bond, causing the USD to increase its investors. If the USD/JPY continues, then the next resistance target is expected to be at 105.526 points.

[AppleFX]

GBP/USD Fundamental Analysis: November 8, 2016

The GBP/USD is currently one of the most active currency pairs as of yesterday’s trading session after it plummeted from 1.2500 and settled below 1.2400 points after the most recent news regarding the FBI probe of presidential candidate Hillary Clinton’s e-mails. The GBP/USD is expected to further increase its volatility during today’s session up until the following days especially in the light of the upcoming US presidential elections.

If Clinton manages to win the elections, then could push the USD farther up the positive range and cause the pair to go lower, possibly even crossing below the 1.2300 range. This is highly possible since the sterling pound is not only the most volatile currency as of this writing, but it is currently among the weakest due to complications in the Brexit strategies of the UK government. The ongoing discussions regarding Article 50 might induce more risks and could make the sterling weaker as the discussions progress.

The UK Manufacturing Data is expected to be released during the European trading session, and this is expected to give traders a clearer notion of how the UK manages its Brexit complications. However, the entirety of the market is now monitoring the results of the US elections, and the USD is expected to become more volatile in the coming hours.

[AppleFX]

GBP/USD Technical Analysis: November 8, 2016
Due to an upbeat of House Prices Index that caused the British pound to become stronger, the decline happened on Monday slightly lessened. On the same day, the pound dropped its recent highs then progressed to a downward region. The break between prices scaled down amid the Asian session while in the interim of the EU hours losses inevitably multiplied. The price intersected the 1.2400 level, however, unsuccessful to take back its gains.
The pair surpass the 50-EMA and hold back the downturn at 100-EMA accordingly in the 1-hour chart. The 50-EMA descended while the 100 and 200 EMAs headed northwards. Current resistance existed at 1.2500, support is placed at 1.2400 region. MACD grew less which showed a weaker position for the buyers. RSI turned to a lower area.

[AppleFX]

NZD/USD Technical Analysis: November 8, 2016


The kiwi hovered below the pressured area versus the US dollar since the FBI announced that the candidate of the Democratic Party, Hillary clinton was found ‘not guilty’ regarding the use of an illicit server during her term as the US Secretary.

The NZDUSD trade flat around a tight range yesterday. Buyers failed to stimulate the pair to a higher region, seeing the rising impetus to soften and shifted over a disadvantageous district. The NZ dollar is trading in the middle of the pair’s resistance and support at present.

As shown in the 1-hour chart, the 50-EMA placed a firmer support for the price while the NZD break the movement and plunged over. Moreover, the 50-EMA shifted to a neutral stance, the 100 and 200 EMAs established an ascending manner. Resistance is found at the 0.7350 level, support is seen at 0.7300 region. MACD subside which indicates a delicate position against the buyers. RSI settled in the overbought condition and further descended.

[AppleFX]

EUR/USD Fundamental Analysis: November 8, 2016

The market is keen and waiting for the U.S. presidential election on November 8 afternoon time in USA. The polls shown a tight competition between the candidates. Traders learned from Brexit that it is much safer to be on standby and wait for the results that is why there is less volatility yesterday until this day. This day determines the short term trend for various instruments which is being anticipated by market players.

Yesterday was bearish for the pair as the U.S. Dollars strengthened with traders aspiring Clinton to win. It posited at 1.1050 and 1.1031 physiological levels. Volatility is expected for the day with the bearish trend to continue as the election closes by. The financial market is positioning with Clinton winning as this is what they want which is expected to further strengthen the U.S. Dollars once the results are out. However if the Republican candidate Donald Trump wins the election, this is not what is expected that may cause a short-term turmoil in the market.

There are no other major economic news to be released neither from the Euro region nor on the U.S.A today. Everyone is looking forward for the election which is the focus for the past weeks bringing volatility today and tomorrow. It is presumed for other data to come out after the election results are out. It is advisable for traders to be keen in their positions with tight stop losses.

[AppleFX]

GBP/USD Fundamental Analysis: November 9, 2016

The international market has initially predicted an easy win for Democratic candidate Hillary Clinton, with predictions gunning up to 90% for a Clinton victory. However, come election day, this certainly was not the case, as Republican candidate Donald Trump is currently leading the polls by a significant margin and is taking the lead in key states such as Florida and Michigan. The GBP/USD pair initially traded at the 1.2350 due to anticipations of a Clinton victory, but was immediately shaken by an unexpected Trump lead, causing the USD to go over 160 pips, prompting the US dollar to start losing its strength. The USD is currently resting at the 1.2500 trading range, with the market currently consolidating and is bracing itself for a possible Trump victory.

With the present state of the US elections, a Clinton victory could still be debatable especially due to Trump leading most of the votes. The GBP/USD pair is expected to be significantly volatile in the coming hours leading to the close of the US presidential elections.

[AppleFX]

EUR/USD Fundamental Analysis: November 9, 2016

The EUR/USD pair decreased in value and went below 1.1000 as the USD strengthened due to initial market predictions of a Clinton victory in the US elections. However, Trump has eventually caught up and is now leading the presidential race, with Trump possibly taking Florida, one of the key states for this election.

This unexpected unraveling in the elections has caught the market unawares, causing the EUR/USD to go over 1.1100 and is currently resting within the 1.1150 range. The currency pair has now increased by over 160 pips over the last two hours of trading due to the unexpected turn of events in the US elections. Generally, the market is not in favor of Trump becoming the president, but the majority of US citizens seem to think otherwise.

Analysts are expecting that if a Hillary victory ensues, then its effect on the market would be somewhat muted since a Clinton victory is what the market expects. However, if the coin flips and Trump comes out as the winner, then its effect on the market in general would be much more adverse and much more violent and could possibly cause a significant increase in market volatility.

[AppleFX]

USD/JPY Technical Analysis: November 9, 2016

The Bank of Japan’s Financial Minister has said that the central bank will be reacting to market movements once the US election results come out, especially if the results would cause the JPY to increase in value. The USD/JPY pair traded within the intraweek trading region for the first half of the Tuesday trading session. The market has remarkably sustained its balance in spite of the absence of market movers, especially if the election results would induce an added strength to the Japanese yen.

The USD/JPY pair traded within its intraweek trading range for the first half of the Tuesday trading session, with the market remarkably maintaining its balance in the absence of market movers. The pair is now trading within the 104.30-104.50 due to buyers consolidating their profits. The bulls reverted back to their bids at the 104.50 region prior to the North American session, with the pair steadily approaching 105.00 after managing to break through its level prices. The pair’s pricing has since then moved from the 50, 100, and 200 EMAs in the USD/JPY 4-hour chart. Resistance levels for the pair can be found at 105.00, while support levels are expected to be at 104.50.

If the pair continuously experiences an upward pressure, then the pair is expected to hit resistance levels at 105.00. This could then cause the pair to hit new highs at 105.50.

[AppleFX]

GBP/USD Technical Analysis: November 9, 2016


The British pound demonstrated a mixed trades as of yesterday. On Tuesday morning, the sterling increased along with the better-than-expected data of the Manufacturing Production while softened in the midday due to a breakthrough of the greenbacks.

Still and all, the pound stayed in the pressured area yesterday as it continually traded in a tight range. The pair further attempted to make a better turn amid the Asian flat. The price made an immediate reversal which started from the 1.2400 level and transferred to the mark of 1.2436 where the bullish spike run-down, hence the GBP marginally curtailed.

The pair had buildup a selling pressure before the opening of the New York session and ploy under the 1.2400 level.

As it was indicated in  the 4-hour chart, the price  tried to enter the neutral stance of 200-EMA, however, gains are limited. Failure is already expected, sending it to the downside of the market. The 50-EMA crossover the 100-EMA in the same trading chart which both MA run after the neutral lines. Resistance is situated at 1.2400, support is fixed at 1.2300. MACD grew less and indicated weak position for buyers. RSI consolidated around the positive area.

GBP/USD is expected to maintain a negative scope and a close below 1.2400 have the possibility to prompt losses into the 1.2300.

[AppleFX]

EUR/USD Technical Analysis: November 9, 2016


The EUR/USD bolstered on the back of the U.S Presidential Elections. The pair were able to steer clear on the effects of the decline in the German Factory Orders. Meanwhile, markets preserve its recent position while waiting for the election results.
On the other hand, the hope for strengthening the euro abated due to a weak result of the trade’s daily closing on Tuesday. The pair is placed below the pressured area and continues to trade around its weekly low since yesterday.
Traders attempted to reach an upward momentum amid the post-European open, even a short consolidation appeared in Asian trading session. While the pursuit to reacquire the 1.1050 region were unsuccessful, the price penetrated the said level but retreated downwards once more.
According to in the 4-hour chart. the 200-EMA is found at the 1.1050 resistance level which helped the common currency to struggle for an improvement. Moving averages established a neutral stance in the same hourly chart. Current resistance settled at 1.1050, support lied at 1.1000.
MACD indicator leans at the centerline. When the histogram arrived in the negative zone, it would indicate additional growth for seller’s position. While the positive territory would give buyers a chance to dominate the market. RSI is neutral.

[AppleFX]

USD/CAD Technical Analysis: November 9, 2011



Even after the recovery of petroleum prices, the loonie had declined while greens further bolster. The neutral points that occurred last week remained intact till now. Yesterday, the price is trading in a tight range in the middle of 1.3360 - 1.3400 levels.

The USD/CAD further decrease as it entered towards the lower range end, at the same time trying to break the 50-EMA lower during the trades on Tuesday.

Moreover, the U.S and Canadian dollar tested the 50-EMA where it encountered a stronger support for the price indicated on the 4-hour chart.

Moving averages keep moving with a bullish trend as it was also specified on the same timeframe. Resistance marked the 1.3400 level, support is located at 1.3300 region. MACD histogram subsided which implied growing strength for the sellers. RSI headed southwards and that affirmed a downward direction.

[AppleFX]

NZD/USD Technical Analysis: November 9, 2016
The New Zealand dollar is reached lower than the key resistance level at 7380 with merging of the results of the U.S. Presidential Elections and the Reserve Bank of New Zealand (RBNZ) interest rate decision tomorrow. It is actively traded within the said level with a chance for a sudden surface bias with the price low. The Interim support sustains at 7292/95 with strong support at 7214/18 and moved past targets of 7450 and 7430 levels.

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