Daily Market Analysis by ForexMart

[Luis ForexMart]

Fundamental Analysis EUR/USD: September 27,2016

The pair produced 58 pip range for the traders while its daily average range should be more than 100 pips. The EUR/USD is situated in an open range for the past few weeks because there is a decline in the daily range which cause the traders to experience some trading difficulty. EURUSD trades with a similar range over the same extremes day in and day out.

Furthermore, it is already proven that euro ranked as one of the strongest currency that performed yesterday since it competently sustained its position against the U.S dollar and advanced in much higher level. Its lowest point still persists above the support seen at 1.1200 which also broke the resistance that comes in at 1.1245. It continually ascended and reached the 1.1275 and further confirmed its normal range. Support level settled at 1.1243.

According to forecasts, major news are not yet issued so the European region is expected to carry out another ranging day of trading. It is also recommended that traders and investors alike should mark the time for stable prices.

 

[Luis ForexMart]

Fundamental Analysis for GBP/USD: September 27, 2016

The GBP/USD pair continues to trade at the bottom of its range, closing Monday’s trading session at 1.2950 points. The pair has not yet been able to make a proper recovery from its past price lows. The value of the currency pair will be most likely be decided by the impending adjustments between other currency pairs, particularly the expected EUR/GBP flows towards the end of September.

The GBP/USD pair had strong resistance levels at 1.3140 last week and has plummeted back to the support levels at 1.2950 after failing to go above the resistance level. The pair also momentarily decreased to 1.2910 before going back above 1.2950 points. Analysts are expecting the pair to be bullish for the rest of the daily trading session, possibly going up to the resistance level of 1.3000 points. If the pair manages to go over this resistance level then this would enable the pair to go in the range of 1.3080-3100, where a lot of sells happened during the last time the pair has reached this level.

However, it is still yet to be seen whether the pair would be able to maintain its current value at 1.2950, and could possible lead to a low on Friday at 1.2910 and then 1.2870. The EUR has a somewhat stable bullish stance, and the GBP is also expected to follow this bullish bearing of the EUR, since there are no major UK news that is expected to come out within this period.

 

[Luis ForexMart]

Technical Analysis for USD/JPY: September 27, 2016

The Japanese yen strengthened in the middle of risk aversion and is remaining to be a safe haven currency after the Bank of Japan’s statement that the central bank is preparing to implement additional regulations which are intended to increase inflation rates did not hinder the growth of the yen’s value.

The demand for the JPY was supported by the risk-off sentiment, with the price dropping from the present Asian high of 101.00 down to the immediate support level at 100.40 where there is a decreased downward pressure. The 50, 100, and 200 EMAs all declined while the moving averages all went lower in the 4-hour chart. Resistance levels are currently at 101.40 while support levels are at 100.40 points.

The technical indicators for the currency pair are all on the downward trend. However, MACD levels are sustained at the same range which is indicative of positive sellers data. On the other hand, RSI continues to remain over the expected oversold area. The USD/JPY is generally facing a bearish stance, and a closing value at 100.40 might trigger losses and may bring down the pair to the 100.00 range. The USD/JPY may also experience a slight increase if the support for the pair is sustained.

 

[Luis ForexMart]

Technical Analysis for EUR/USD: September 27, 2016


The EUR/USD pair rallied up to 1.1278 during Monday’s trading session after positive US housing date enabled investors to avoid the advancement towards a major resistance range. US new home sales went down slightly in August, dropping at a 609,000 annual rate and decreasing by 7.6% as compared to the data last July, lower than the expected 8.6% decline. The USD was also strengthened by comments from the Fed’s lacker which has stated that there is a strong possibility of an interest rate hike in December. Germany’s IFO survey has indicated that the business environment in the EU has increased significantly in September, going up to 109.5 from August’s 106.2, with increase in both the expectations and assessments sector.

The EUR/USD pair meanwhile continues to trade within its current range, suspending its recovery at main resistance levels, with a descent at 1.1615 points. The currency pair also experienced multiple intraday highs and lows within the 1.1280 trading range, and the upward potential will continue to be suspended as long as the price of the pair remains below 1.1280 points. Divergences can already be seen in the 4-hour chart, and the price continues to remain above a highly bullish 20 SMA which has already went above the 100 SMA. There is a high probability of a bearish trading session on Tuesday if there will be more decreases below the 1.1225 range. If the USD continues to strengthen, then there is a probable bearish trade point at 1.1160.

 

[Luis ForexMart]

Technical Analysis AUD/USD: September 27, 2016

Aussie is on a steady rate with US dollar even though the oil prices decreased. The AUD/USD price channel shows upward movement moving towards 0.7650. The 50-EMA also moved simultaneously in an upward direction reaching the 100 and 200 levels. The 100-EMA crossed the 200-EMA as shown in the 4 hours chart. The resistance was measured at 0.750 while the support follows at 0.7600. The MACD was seen in a downward direction which shows the position of the buyer to be weaker. However, it still presents a signal to buy. The Relative Strength Indicator remains at neutral state.


The initial buyer’s target is at 0.7650 level. However, A sharp breakdown almost close to 0.7600 and lower could lead to further decline towards 0.7540. As long as the current 0.7600 stays at that level, the prices are expected to continue in an upward trend.

 

[Luis ForexMart]

Technical Analysis GBP/USD: September 27, 2016

The dollar still hovers in the pressured area compared to other major pairs, seeing that the stocks remains affected regarding the Fed's resolution. Traders are taking some precautionary movements for every execution because of the impact that the U.S Presidential debate might bring.

The pair experienced a downward pressured on Monday because the pound and dollar throw over their acquired profits on Friday. Moreover, the pair also indicated a steep decline against the level of support lied at 1.2900.

The 50, 100 and 200 EMAs sustained a bearish outlook. The resistance is found in the 1.3000 level, support is present in the 1.2900 level.

MACD fail off but give out strength for the sellers. RSI is positioned in the negative condition.

 

[Luis ForexMart]

Technical Analysis NZD/USD: September 28, 2016

The NZD/USD pair decreased in value after a three-day high, dropping back to the 0.73 trading range in relation to its USD counterpart. The currency pair dropped by -0.26% or 0.7284 points, hovering dangerously close to the 0.7279 trading lows during the last session. The NZD was unable to sustain its bullish bearing, mostly due to sustained weakness in oil prices and a strengthening of the USD.

The commodity currency suffered from significant decreases in oil prices caused by uncertainties in the oil output agreement between non-OPEC and OPEC oil producers. Meanwhile, the greenback was boosted by positive consumer confidence data and PMI data.

The NZD remains to be the worst currency performer during the trading session, especially now that traders are waiting for the release of China’s consumer sentiment numbers. The US durable goods data will also be released later today, as well as the weekly crude stockpiles report from the EIA.

The next resistance point for the NZD/USD pair is projected to be at 0.7297, with a possibility of extending gains up to 0.7332. Meanwhile, the downside support is expected to be at 0.7267 points to 0.7220 points.

 

[Luis ForexMart]

Technical Analysis EUR/USD: September 28, 2016

The EUR/USD pair dropped to 1.190 points during Tuesday’s session as the USD increased its trading value during the session but later lost some of its gains as Fed’s Fischer released a statement saying that as much as he does not want to have low interest rates, he wouldn’t want it to increase as much. However, Fischer also noted that he has no information with regards to the date of the expected interest rate hike from Fed. The last trading session exhibited active volatility levels, especially with Hillary Clinton’s impressive performance during the first US Presidential Debate. However, the dropping bank equities in London’s trading session affected the trades on Tuesday.

The USD also increased due to the added intraday support from highly positive macroeconomic releases, particularly with the improved Conference BC Confidence Index which is now at 104.1 from last month’s 101.8. The expansion rate of business activities also increased after a three-month dormancy, according to preliminary Markit Services and Composite PMI data. Services PMI went up to 51.9 in September as compared to August’s 51.0, while Composite PMI data also increased to 52.0 points from last month’s 51.5 points.

The EUR/USD is still primarily in the negative territory, albeit with a persistence neutral stance. The 4-hour chart for the currency pair has no clear indicators, with prices recovering after a slew of horizontal moving averages and technical indicators going above the middle range.

 

[Luis ForexMart]

Technical Analysis GBP/USD: September 28, 2016

The sterling pound is currently experiencing a downward pressure following a decrease in oil prices. The buying interest for the GBP/USD went down a few pips to have a current value slightly above the 1.3200 range. The currency’s value dropped significantly from the last trade high and went down between the 1.3200 and and 1.2940 trading range during the last session. The GBP/USD has now dropped beneath the moving averages while the 50, 100, and 200 EMAs is still experiencing a steady decline. Resistance levels are now at 1.3000 points, while support levels are at 1.2900.

MACD levels are currently in the negative but remained in its previous level which indicates that sellers are now increasing their strength. The RSI is sustained at the neutral territory while oscillator levels are expected to decrease.

Sellers would be able to break below the 1.2900 range if the GBP/USD pair would be able to stay within the negative trading range. Analysts are also expecting more sideway trades in the next few hours.

 

[Luis ForexMart]

Technical Analysis USD/CHF : September 28, 2016

The USD/CHF pair lies within the range of 0.9648/9818 and in intraday price movements remains neutral. Price from 0.9443 shows a consolidation pattern while below 0.9648 will turn downside. A break of 0.9536 will lengthen the correction from 1.0327 to 0.9443. When it breaks to 0.9949/55 in Resistance level, the only time we can conclude the decline from 1.0327. If not, it will continue in a slightly bearish outlook.

Reassuringly, there is no other big changes aside from the choppy decline from 1.0327 which can be considered as a correction. A break on 0.9955 assumes another high on 1.0327. The dismissal of 0.9955 resistance tips off another fall below 0.9443. If that transpired,a strong support within 0.9072 and 0.9256 range is expected to control downside and may lead to reversal.