Page 55 of 55 FirstFirst ... 545535455
Results 541 to 544 of 544

Thread: Daily Market Analysis from ForexMart

  1. #541
    Join Date
    Mar 2016
    Posts
    865
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Forex Ability & Talent
    0

    Daily Market Analysis from ForexMart

    GBP/USD Technical Analysis: May 22, 2018

    The British pound slightly declined at the beginning of the Monday session as it reached the level of 1.34 before finding buyers. Since there are still signs of support, it looks like it supported the fight for buyers. Yet, there are some major concerns above.

    Trading the British major currency pair slid down towards the psychological level of 1.34 before going up again. It has shown a significant amount of bullish pressure but there could also be signs of significant resistance in the previous uptrend line, established in the yellow ellipse on the chart. This gives a significant amount of resistance with a high probability of a rollover then we could look for the level 1.34 below, which was also supportive in the past. A breakdown below would allow the market for a decline up to the level of 1.33 and further to 1.30.

    We should be cautious of any rally, at least not until a successful breakout to 1.3550. For now, we could reverse the whole situation completely, but I think there will also be a continuation of dollar strengthening in the short-term, which is likely to extend for the rest of the summer and continue its rally in the U.S. When a breakdown occurs below the uptrend line, this could become a problem for the British pound. Although, it may not necessarily be a problem as much as the strengthening of the U.S. dollar. I would look for some type of exhaustive candle near the area of 1.3475 to begin shorting this pair.



    Click image for larger version. 

Name:	USDJPY22.png 
Views:	6 
Size:	32.1 KB 
ID:	4529

    Andrea ForexMart, Official Representative
    ForexMart

  2. #542
    Join Date
    Mar 2016
    Posts
    865
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Forex Ability & Talent
    0

    Daily Market Analysis from ForexMart

    GBP/USD Fundamental Analysis: June 11, 2018

    The pound/dollar pair continued to trade around the 1.3430 region on the back of the failure to create bullish momentum in the previous week, as it was beaten by the major handle and the markets are waiting for further progress in Brexit this week. Due to the scheduled FOMC rate hike in the upcoming week, the interest rate differential of the GBP and the USD is predicted to move in different directions which could hold the Pound on its starting position and push the British currency into the recent lows. Following the recently rejected Irish border solution, market participants await for further news within this week while the United Kingdom continue to negotiate in looking for the middle ground for the hard-line Brexiteers and the EU leadership in Brussels. Nevertheless, Prime Minister Theresa May was caught in between and trying to find fair solutions for both sides.

    The upcoming week is projected to be really busy for the Sterling pound since 4 out of 5 trading session this week brought extreme impact to the UK calendar that could support a high level of volatility for market players. Today has plenty of data for Britain which will be all published at 08:30 GMT, however, the focus will be on the Manufacturing Industrial Production data which is expected to remain unchanged at 2.9%. The US session today appears to be in smooth sailing according to the economic calendar, but traders might deal with the G7 summit blowout, wherein US President Donald Trump leave the summit earlier and depart the US’ support of the G7 communiqué, following a Tweet from POTUS aboard Air Force One heads to Singapore for the Trump-Kim summit.

    At the same time, the figures for Average Earnings Index +Bonus (Apr), Claimant Count Change (May), Core CPI & PPI input and Core retail sales in the next three consecutive trading sessions. Moreover, the daily chart indicates that the GBP/USD currency pair corrected higher from the lows of 1.3205 alongside the diverging technical oscillators. On the other hand, the Relative Strength Index (RSI) had an unexpected move towards the oversold area and bounced back to the GBP, which descends to the levels of the beginning of last week. The Slow Stochastic resumed moving in an upward trajectory. The daily chart of the 50-day and 100-day moving average formed a death star crossover, this means that there is an initial downside potential of the Cable pair to break the 1.3300 region prior attacking the area of 1.3200. The upside of the pair is necessary to break back above the 1.3380 to the 1.3450 target, which is the last week’s high.


    Click image for larger version. 

Name:	GBPUSD11.png 
Views:	2 
Size:	31.3 KB 
ID:	4531

    Andrea ForexMart, Official Representative
    ForexMart

  3. #543
    Join Date
    Mar 2016
    Posts
    865
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Forex Ability & Talent
    0

    Daily Market Analysis from ForexMart

    GBP/USD Technical Analysis: June 18, 2018

    The British pound was able to dodge the immediate impact of the rise of the dollar while the euro dropped by two significant points that dominate the market in the previous week. The dollar gained from the rate hike which started by the Fed and the positive outlook of the Fed in the economy.

    The hawkish sentiments gave t chance to the dollar to rise and the dollar bulls to plan ahead with two more rate hikes to look forward to. The Fed gives similar signals which still yet to be seen if they would continue the process and they would implement this in a specific period of time later on. We have witnessed that the rate hike would have minimal impact on the market, especially on the pound.

    It seems that everything is going smoothly in the UK as the Brexit negotiation starts to advance and there are no signs of risks yet. Hence, the pound maintained its position in the support area despite the strengthening of the dollar and activities in the eurozone. The European Central Bank decided to extend the easing program which in turn, weakened the euro. Although, these things did not really affect the pound as it continues to trade close to the area of 1.32.

    There are some strong purchasing in this area, as well as at the level of 1.30. Once this is achieved, the lead will be in the hands of the bulls which is likely to be maintained in short term. It seems that there is also no major event to affect the movements and we can say that the price is in consolidation and persists to be within the range for the day.


    Click image for larger version. 

Name:	GBPUSD18.png 
Views:	2 
Size:	28.2 KB 
ID:	4532

    Andrea ForexMart, Official Representative
    ForexMart

  4. #544
    Join Date
    Mar 2016
    Posts
    865
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Forex Ability & Talent
    0

    Daily Market Analysis from ForexMart

    GBP/USD Technical Analysis: June 19, 2018

    The Sterling pound slightly weakened amid Monday trading course and further moved lower to the 1.32 zone. This level is considered a round psychological significant number but it seems that the market will search for additional support below the 1.30 area. It is also possible that rally sell-off will resume since the American dollar is expected to continue to attract traders who badly need protection.

    A break over the 1.33 handle would allow a higher move to 1.34 level. After the extreme sell-off on Thursday, this would be a difficult scenario to reverse things, and the momentum is believed to be on the side of the sellers regardless of any situation. Forecasts also show that the level below 1.30 would likely be a massive support area and a break down beneath indicates a negative scenario.

    There is high chance that the market will see a “sell the rallies” type of consolidation in the near-term, which means pushing a move to the downside in the longer-term. Nevertheless, good news could help to turn things around.


    Click image for larger version. 

Name:	GBPUSD19.png 
Views:	1 
Size:	28.3 KB 
ID:	4534

    Andrea ForexMart, Official Representative
    ForexMart

Page 55 of 55 FirstFirst ... 545535455

Thread Information

Users Browsing this Thread

There are currently 161 users browsing this thread. (0 members and 161 guests)

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •