Daily Market Analysis from ForexMart

[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.
[ATTACH=full]7221[/ATTACH]

[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.
[ATTACH=full]7222[/ATTACH]

[Luis ForexMart]

[SIZE=6]
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. [/SIZE]

[Luis ForexMart]

[SIZE=6]
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. [/SIZE]

[Luis ForexMart]

[SIZE=6]
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. [/SIZE]

[Luis ForexMart]

[SIZE=6]
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. [/SIZE]

[Luis ForexMart]

Technical Analysis USD/JPY: September 28 2016

The announcement made by Haruhiko Kuroda caused the Japanese yen to make a firm trend. Kuroda talked about the availability of the tool in order to gain the additional 2% inflation rate while the central bank ascertained that they approved the implementation of the stimulus increase if necessary.

The ascending movement run down in a moment reaching the 101.00 by which brought a price change. The pair had declined that also affected to lose its previous gains. The dollar and yen made another attempt to suspend the 100.40 level. As shown in the 4 hour chart, USD/JPY is under the selling pressure of the 50-EMA, at the same time, moving averages are in a lower position of the same chart. Resistance can be seen over the 101.40, support is identified in the 100.40 level.

MACD strengthened the sellers strength though it sustained its previous status. RSI is consolidated in the negative area.

[Luis ForexMart]

[SIZE=6]
Technical Analysis AUD / USD: September 28, 2016

The AUDUSD remained under pressure since Monday whereas the trading price had an upward slope from 0.7612 to 0.7698. The buyers were able to control the market with more than 80 pips. This development aided the bullish investors to supplement profits.

At present, the price bounced off to 0.7672 by which derived within the 0.7649 level. This appreciation is the major turn of the pair that is a positive indication granted for the buyers so that they can have much control to optimize prices.

Predictions about the stochastic oscillator that established a bullish trend around the 40 level has greater possibility to happen. It is recommended that buyer's next target will be in the level of 0.7709 seeing that the pair recently had a price hike.[/SIZE]

[Luis ForexMart]

EUR/GBP Technical Analysis: September 28, 2016

The price channel of EUR/GBP pair is getting stronger shown by statistics last week. Both Stochastics and EMA moved relatively and a fairly strong reversal is expected to happen. This gives a positive outlook to the currency pair.

The pair moves upward even higher than the past few weeks and this is expected to keep on. Although, it seems that the reversal has already began that could result to a gush on sentiments by the second half of this week. The recent bearishness pushed the H4 Stochastic oscillator into the oversold area and the EMA lingers to be bullish. Hence, the selling pressure was reduced early this week and to continue to move upward. The H4 chart is hinting a recent downtrend implies that there is still a plausibility to gain momentum.

It could reach as high as 0.8760 level while if it goes a low as 0.8721 indicates an agile resistance. Fundamentals are relevant to move beyond the zone of resistance and investors should be careful with this when it reaches the 0.8721 mark.

The technical bias for this pair should remain a bullish trend from short to long term as well as the anti-GBP sentiment because of Brexit. However, a major change in sentiment could take place after the scheduled commentary from the European central bank.

[Luis ForexMart]

[SIZE=6]
GBP/USD Fundamental Analysis – September 28, 2015 - Forecast

The GBP/USD had a significant dip of 27 points while the U.S dollar continually ascends. The price of the pounds is 1.5214 but no good to climb over the greenback that is much stronger as of today. The dollar established its stronger position after the speech of Yellen held last Thursday. On the other hand, the sterling pound had a positive improvement compared to its previous two-week low against the dollar, though the GBP loss 2 percent as of this week.

Among other main central banks, the Bank of England almost rack up the Federal Reserve since they don't have much record of lows but due to the zero inflation rate of UK the reserve bank lose its hope to reach its goal.

Furthermore, deputy governor Jon cunliffe stated that the build up of price pressure would not aid the British economy, however, the following rates of interest have the capacity to improve the country's current economic situation.[/SIZE]