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Forex Analysis Analize forex market trends by using specific method of common analysis. This forum discuss about them in depth.

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  #391  
Old 19-01-2017, 06:33 PM
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Default GBP/USD Technical Analysis: January 19, 2017

Hard Brexit issues continued to affect the cable pair. The British currency weakened in spite of the upbeat in the labor market data as the unemployment stat maintained its rate and Claimant Count Change rose.

The sterling is in the red versus its American rival on Wednesday. The GBP/USD climb the edge of the overbought area and pointed downwards amid Asian hours. Sellers take out the 1.2400 level during the morning trades and tested the mark 1.2300 in the EU session. However, the mark stalled the progress of sellers. Having touched the level, the price reduced and stayed on top of the region prior to the onset of NY trading.

According to the 4-hour chart, spot bounced off to 200-EMA. The entire moving averages moved downwards. Resistance highlighted 1.2400 region, support entered 1.2300 area.
The MACD slowed down which favored sellerís strength. RSI kept intact in the overbought zone.

Moreover, the 4-hour chart showed a prevailing bearish tone.The primary target 1.2200 showed some signs as it will be going short followed by the consolidation phase, the pair is expected to move ahead through 1.2100 handle.
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  #392  
Old 20-01-2017, 01:25 PM
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EUR/USD Technical Analysis: January 19, 2017

The American dollar was able to rub out its losses versus the euro prior to the speech of Yellen yesterday. The greens further acquired some support from the consumer price index of U.S which met the expectations of investors. Moreover, the decision of the ECB about its interest rate will be announced later this day.

The market structure remained to be bullish on Wednesday. The single European currency executed an upside impulse and return from its weekly high towards 1.0716.
The ongoing rebound is deemed to be corrective during the profit-taking behind the current rally. The EUR/USD retreated under the 1.0700 level amid morning trades on Wednesday and it hovered throughout the level as the EU session took place.

The 4-hour chart shows the price resumed its advancement on top of the moving averages. The 100 and 50-EMAs continued to be bullish while 200-EMA stayed on the neutral position shown in the same time chart. Resistance sits at 1.0700, support lies at 1.0650 region.
The MACD histogram falls which indicate weak position of the buyers. The RSI oscillator kept around the overvalued territory.

The pair is expected to moved near the immediate support 1.0650. In case the level breaks, the support will return to 1.0600. However, the EUR will receive short-term support as much as 1.0500 remained intact.
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Old 20-01-2017, 02:11 PM
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Default USD/CAD Fundamental Analysis: January 19, 2017

The USD/CAD pair was previously situated in a very critical support region and has reverted in the region just below 1.3000 points. The Bank of Canada has already released its statement regarding the central bankís rates, and the bank also held a press conference later in the day. The pairís strong bounce was seen as the US dollar and the Canadian dollar went in highly opposite directions during the previous trading session.

The USD had already regained its lost strength and has exhibited positive activity across the board after Yellen announced that the Fed could possibly go for more rate hikes in the future if the economic data from the US continues to be positive. On the other hand, the Bank of Canada announced that it will be making no changes on its current interest rates. However, the succeeding press conference from BoCís Poloz has made it clear to investors that the Canadian economy has not shown any progress and has instead stayed in the same place. Moreover, Poloze expressed his sentiments regarding a possible trade war under the Trump administration, and this has adversely affected the CAD and has caused the USD/CAD pair to revert back from the 1.3000 trading range and was able to shot up through 1.3100 and even through 1.3200 where it currently sits above as of present time.

Market players are expecting that the USD/CAD pair might be in for a strong uptrend and could possibly reach 1.4000 points. For todayís trading session, Canada will be releasing its Manufacturing Sales data, while US will be releasing its oil inventory data as well as the Unemployment claims data. These are expected to induce volatility in the pair. However, it is highly likely that the USD/CAD pair will be in for an uptrend in the long run.
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