Daily Market Analysis by ForexMart

USD/JPY Technical Analysis: November 10, 2016

The pair USD/JPY declined yesterday night reaching the same with September low with the depreciation of U.S. dollar when Donald Trump won the election. The pair recovered at 101.16 level after sell-off and rose to 103.50 level. Shortly after the upward momentum was overpowered by the selling pressure again. The traders had longer gains during sessions in North American time.

The price continued to move higher but broke at 104.00 to 104.50 level. It has preceded the 200-EMA 4-hours chart opening of New York whilst the strong resistance has hampered the rally of dollar. Other Moving Averages are in the downward direction in the same pace with the price.

The MACD histogram signals control of sellers as they are gaining strength towards the 102.50 level. The Overvalued area is almost reached in the RSI indicator with chances to move lower.

The Resistance level is posited at 103.50 level while the support level is at 103.00 level. The downward direction will continue if the U.S. dollars continues to depreciate with Sellers leading the price activity towards the 102.50 level. It is expected for a near-term technical correction at 104.00 level. A daily close below the physiological levels could further decline towards the 103.50 level.

GBP/USD Technical Analysis: November 10, 2016
The pound declined on Monday despite its recent uptrend which is because of House Price Index giving a positive outlook. The price stayed at 1.2400 level and did not recover. But it bounce back a little after the testing is done.
In its 100-EM chart, the decline halted while the price broke in the 50-EMA moving downtrend. On the other hand, the 100 and 200 EMA chart moves uptrend. The resistance level posited at 1.2500 with a support at 1.2400 level. The MACD histogram signals weakening of the buyers' position while the RSI is descending.
The break at 1.2400 level could proceed even lower towards 1.2300 level.

USD/CAD Fundamental Analysis: November 10, 2016


Even after the results of the U.S. Presidential election, the pair USD/CAD still remains resilient and steady despite all the volatility in the market. It remains to be calm which has been happening for the past few days.


It continues to move in a subdued pace as it consolidates within a small range. Traders who positioned long can continue to do so. The trend shows a solid uptrend with showing clear direction of the next move towards the medium target at 1.4000 level.


The volatility of greenback gaining strength and weakness for the past day has been equalize by the stability of loonie. However, the Canadian dollar has immediate effect with the fluctuations in the oil market for the past 24 hours. Another factor is the uncertainty brought by his ideals in his campaign agenda such as changes in immigration and trade deals. The move of U.S. dollars remains unpredictable on which direction to go to.


The pair is seen to remained consolidated for the week and keep within the range until all the chaos has settled down after the U.S. Presidential election. Traders could either continue to invest long or stay in the sidelines until prices improve.

USD/JPY Fundamental Analysis: November 11, 2016

The USD increased tremendously against the JPY during Thursday’s trading session after investors posted a somewhat hopeful sentiment towards President-elect Trump’s term, as well as his ability to add stimulus to the US economy as well as increase the nation’s interest rates. The USD bounced back to 106.94, its highest level reached since July. The USD/JPY pair closed down the previous trading session at 106.793 points after increasing by +1.08% or 1.139 and is expected to make further gains at 3.5%.

Since today is a US bank holiday, the USD is expected to get high levels of support from the US Treasury market, which could possibly lead to limited upside activity or profit taking, especially since US Treasury yields reached its highest levels this week, its highest after 10 months. The USD/JPY could either increase further if the US reflation trade gains momentum and long-term US Treasury yields go higher, or the currency pair could be augmented by a steady flow of interest rate hikes from the Federal Reserve. However, there is also a possibility that the USD could lose its footing against the JPY, especially since one of the major highlights of the Trump presidency is protectionism, which could adversely affect the US foreign trade.

The recent activity of the USD as well as the US equity markets suggest that investors are expecting that Trump would be able to become successful with regards to expanding the US economy by way of tax cuts and fiscal spending. These could induce inflation levels and add up to the US debt, prompting the Fed to increase interest rates next year in a more frequent succession than previously expected.

EUR/USD Fundamental Analysis: November 11, 2016

The EUR/USD pair continued losing value during the last trading session as the market is slowly grasping the fact that Trump is going to be the next President of the United States. The market slowly regained momentum following its previous violent reaction to the results of the US elections, with the USD strengthening on almost every currency. This increase has especially affected the JPY and the EUR, with the EUR dropping to 1.0950 and even went lower and reached 1.0900 and 1.0850.

The EUR/USD pair is currently consolidating between 1.0850 and 1.0920. The market is not expecting any major economic data to be released today for the eurozone, which means that the currency pair’s movement will be largely determined by the market’s reaction towards the most recent events and the results from the recently concluded US elections. The market has little grasp of how Trump is going to turn out as a political figure, however it is expected that less-than-ordinary political and economic events such as Brexit and the Trump presidency could slowly become the norm across the globe, and the international market might eventually become used to events such as these, which could tone down the occurrences of violent market reactions. The market is still expected to be remarkably volatile for the coming days and traders are advised to proceed with caution on all trades.

USD/JPY Technical Analysis: November 11, 2016

The yen experienced added pressure due to the high demand for high-risk assets, while a renewed possibility for the Fed rate hike appeared yesterday following a positive US labor market report. The USD/JPY pair traded within high ranges during Thursday’s session, with its price reverting back to 105.00 and even went further to 106.00 after going over 105.50 following a somewhat weakening during the Tokyo session. Sellers are now closely monitoring the 106.00 after quotations jumped from every attempt to return to the positive territory.

The USD/JPY pair is now expected to reach 106.50 and could possibly test the 107.00 region prior to the opening of the North American session. The currency pair is now a little ways over its moving averages in its 4-hour chart, with the 50, 100, and 200 EMAs projecting an upward direction. Resistance levels for the pair is expected to be at 107.00, while support levels are expected to come in at 106.50.

The MACD levels for the pair increased, indicating added buyer strength. Meanwhile, its RSI values are currently on the overvalued territory and is expected to go lower. The USD/JPY could extend its gains up to 107.00 if it manages to go over the 106.50 level.

EUR/USD Technical Analysis: November 11, 2016


The fresh talks happened yesterday had helped lessen uncertainties about the economic policy to be imposed by the newly-elect U.S President, Donald Trump. Since the talks have discussed that the Trump administration is expected to further improve economic growth and inflation.

The EURUSD pair remains intact in the pressured area on Thursday and holds over on its recent lows. The single currency established a neutral stance and a short-term undertone. Consequent to a steep decline developed on Wednesday, the euro and greens met its support at 1.0900. Prices bounded from the level and made a minor reversal for its previous losses, then headed towards 1.0950 in the Asian session. Buyers were not able to fully recovered since they have failed to reach again the aforesaid level.

The euro stayed within the region 1.0950 during the trading session in the morning. The pair had a downturn to the 1.0900 level just before the opening of NY trading hours. All moving averages approached the lower position according to the 4-hour chart. Seeing the 50-EMA crossed over the 100-EMA in a downwards direction as well. Resistance can be found at 1.0900, current support is seen at 1.0850. MACD settled in the negative zone. RSI moved close to the oversold levels, favoring a lower move.

It is recommended that when a bearish tone dominate the market, the EUR/USD will have widespread losses around the 1.0800 region.

GBP/USD Technical Analysis: November 11, 2016


The pound negatively had a dipped and stayed under pressure despite the selling wave of new oil along with the neutral sentiment result for EU banks. Even on Thursday, the pair is in a stable neutral position.

The British pound made a rebound from the level 1.2400 and further carried out a minor reversal for Wednesday's losses. The pound proceeded at 1.2500 amid EU session. Moreover, buyers fall short in expanding their gains, the price made a rotation as it performed a reversal then return again to 1.2400 which act as support.

As shown in the 4-hour chart, the price tested 200-EMA, however, it blocked the pair’s movement upward. The cable pair is situated between the moving averages. The 50, 100 and 200 EMAs undertook the neutral position. Resistance leans towards the 1.2500 region, support is set at 1.2400. MACD kept a constant level, favoring for the strengthening of the buyers. The RSI indicator consolidated around the overbought levels.

There are assumptions that the pair can retest the 1.2500 level if both can make a recovery. Contrarily, a decline under the 1.2400 is expected which would indicate a short-term upward momentum easing and would enter to the mark 1.2300.

NZD/USD Technical Analysis: November 11, 2016

Together with the cut rate carried out by RBNZ, the kiwi also had a cut down against the greenbacks. Moreover, the NZD had a negative day since yesterday. Sellers were able to move the price towards a lower position after the short period of consolidation stage which is found at 0.7300.

The pair pushed the 0.7250 level and further tested 0.7200 during the morning trades of U.S. Prices were able to surpass the 50 and 100 EMAs while 200-EMA is being tested as shown in the 4-hour chart. Moving averages made downturn in the same timeframe. Resistance is located at 0.7250 level, support marks the 0.7200 region.

Analysis on the technical side seems negative, as MACD constricted and indicated the softening position for the buyers. RSI endures an oversold condition.

Apparently, bearish investors are prevailing in the market by which a strong bearish sentiment influences the pair’s movement towards the 0.7200 level. The next target is 0.7150.

NZD/USD Fundamental Analysis: November 11, 2016

The New Zealand dollars went downhill because of concerns with the Trumps victory and the inflationary of economic policies. The kiwi closed at .7212 that declined by -0.92%. Although it increased initially when the results has been announced which is deemed to be the final rate cut this year’s interest cycle. The Reserve Bank of New Zealand lowered its benchmark borrowing rate to a record low of 1.75% yesterday, the third price easing this year. It is predicted only 20% probability of rate cut next year with the target rate at 1.7% by the Central bank.

The Weekly Unemployment Claims of U.S did not meet the expected results which reported 254,000 jobs while the Mortgage misdemeanors dropped by 4.52%. However, the Federal Budget Balance climbed from -44.2 billion to -81.9 billion and the 30-year Bond Auction also increased by 2.9% with 2.1 coverage with the former auction at 2.47/2.4.

It is a holiday on Friday where banks will be closed and this includes the Treasury market. Traders could use the U.S. Treasury Futures as a basis.

The profits earned in the U.S. equity market and U.S. dollars, there is a possibility for the short-term surge for Kiwi. Furthermore, the results of U.S. Presidential election is expected to bring inflation that may influence Fed rate hike more than what was predicted for 2017.

USD/AUD Fundamental Analysis: November 11, 2016

The U.S. dollar is overpowering the Australian dollar with simultaneous buying in the G-10 complex. This has been a bad week for Aussie traders. A surge on the pair with heightened inflation and anticipation on the pending fiscal policies of Trump caused Traders from New York traded Aussies overnight resulted to hammer at .7740 to 7570 before profits are gathered.

The Australian dollar can be compared to China substitute for liquidity with traders doing short position on Aussie unlike illiquid Chinese assets. Australia is concerned with the high possibility for changes in global trading and its policies and practices while the U.S. Interest rates rallies.

USD/JPY Fundamental Analysis: November 14, 2016

The USD experienced a sharp increase against the JPY following a series of investor reactions regarding Donald Trump’s sudden victory in the US elections. The USD/JPY pair closed down last week’s session at 106.615 points after increasing by +3.45% or 3.552 points.

A large number of investors had a flight to safety on November 8 due to uncertainties brought about by the elections, a move highly similar to the Brexit referendum last June. This resulted to increases in the prices of gold and CHF, but as the market came to terms with a Trump victory this has resulted to a steady increase in the US dollar. The market is now expecting added inflation due to Trump’s policies, which include added fiscal spending and production of trade. This has caused the US Treasury yields to increase, therefore putting upward pressure on the USD and making the USD a more sensible investment as compared to Japan’s government bonds. Analysts are now saying that this could compel the Federal Reserve to increase the frequency of its rate hikes.

The USD/JPY pair is expected to continue increasing if the US Treasury yields continue to strengthen as well. Major economic releases from Japan include the nation’s Preliminary GDP, which is expected to clock in at 0.2%, which is the same as the previous GDP report. For the US, expected economic releases are the Retail Sales data, Philadelphia Fed reports, Building Permits data and the Producer Price Index data. Federal Reserve Chairwoman Janet Yellen is also expected to make a statement on Thursday.

USD/CAD Fundamental Analysis: November 14, 2016

The USD/CAD pair was able to reach its short-term target of 1.3500 since the pair was one of the least volatile currency pairs after the market’s reaction to the US presidential elections last week. The USD in particular exhibited wild up-and-down motions while the US elections was in process as investors did not know how to react to the sudden victory of Donald Trump. Trump is not yet known how to act as a political figure, however he is expected to implement protectionist policies and it is expected that Canada would also be affected by Trump’s “neighbor” policy, causing the CAD’s reaction to the elections to become somewhat muted as compared to other currencies.

Oil prices have also experienced added activity last week, as this commodity has a significant effect on the Canadian economy. For this week, major economic releases from the US include the retail sales data as well as a testimonial from Fed’s Janet Yellen who is expected to outline the Federal Reserve’s future policies. The market is still expecting a rate hike in December, and the Fed is also expected to increase the frequency of its rate hikes for 2017, and this speculation has been one of the reasons behind the large upticks occurring in the USD/CAD pair. However, these policies might be subject to changes as the weeks progress and as Trump assumes office next year.

GBP/USD Fundamental Analysis: November 14, 2016

The GBP/USD also experienced the effect of the increased market volatility during the US elections, however its reaction was largely different compared to that of the other currency pairs. The GBP/USD pair was steadily increasing amid initial market expectations of a Clinton victory but as it became clear that Trump was winning the presidency, the currency pair suddenly increased in value as opposed to other currency pairs, which either went up and down or experienced a large decline.

The GBP/USD reached the 1.2550 range but slowly decreased as the market reconciled with a Trump victory and as the USD slowly regained some of its lost value. However, as the other currency pairs steadily dropped in value as the USD rose, the sterling pound instead rose higher and came to rest at a much higher trading range than the USD. This led to speculations that since the US was able to survive the sudden onslaught brought about by a Trump victory, the UK would also be able to hold off on its own as the Brexit progresses. The increase in the GBP was largely due to a minimizing of the initial market overreaction to Brexit, and causing the pair to go up to 1.2670 and ended the previous week with just a little below 1.2600.

The market is expecting the release of the CPI data and inflation reports from the UK this week, which could give hints regarding the overall status of the UK economy and help in evaluating the further effects of Brexit on the nation’s economy.

USD/CAD Technical Analysis: November 14, 2016


The dollar had a positive day compared with its quote currency, since investors on Friday became confident over the presidential term of Donald Trump. On the other hand, the loonie had weighed down by the decline in petroleum prices. The greenbacks widens its gains and procured a short-term bullish divergence. Buyers break the prices and ascended towards 1.3540. The daily high is seen at 1.3453 while the lowest point dropped at 1.3546. As indicated in the 4-hour chart, the pair were out of the way of the moving averages.

Current resistance is positioned at 1.3540, support is located at 1.3470 region. The 50, 100 and 200 EMAs established a bullish trend. Technical indicators progress through northwards entering the positive zone. MACD histogram optimized which favors more strength to the buyers. The RSI indicator manifested overbought signals.

The buying momentum is enhanced as a consolidation period is anticipated above the 1.3470 region.

GBP/USD Technical Analysis: November 14, 2016
The cable pair had a favorable day last Friday, seeing the pound to make an upward trend throughout the day. Subsequent to a short-term consolidation point amid the Asian hours, buyers supported the sterling to attain more advanced movement. They were able to surpass the 1.2600 mark and settled near the 1.2700 region amid the post-European open. However, buyers failed to upsurge the price which confirmed the pair to return from it fresh session highs. The GBP touched the 200-EMA which caused it to established a limited growth intended for the forthcoming week. The 50 and 100 EMAs shifted to an ascending direction while the 200-EMA kept intact to a neutral stance as shown in the 4-hour chart. Current resistance is located at 1.2700, support stands at 1.2600 level. Technical tools preserved a bullish trend. The MACD histogram makes a positive tone which further provides strength for the buyers. RSI indicator remained to endure a consolidating phase situated in the overbought area.
The next goal is to reach the 1.2700 region. In case that the buyers lose control to improve the gains of the GBPUSD, there is a tendency for the pair to return to its previous marks ranging from 1.2400 to 1.2500.

EUR/USD Technical Analysis: November 14, 2016

Due to a better-than-expected results presented by the Germany's Wholesale Price Index, the euro further strengthened. Meanwhile, the dollar had also stabilized after speculations about Trump’s presidency will not be really bad and the policies his supporting with will help improve inflation.

The EUR preserved a bearish sentiment and currently trades at the 1.0900 level. Furthermore, the pair procured a little reversal amid Asian session hence enabling the sellers to break the price and descended towards 1.0850. Traders unsuccessfully pushed the level on Friday. The daily high reached the 1.0920 region while the daily low is identified at 1.0839. As shown in the 1-hour chart, the price settled in the 50-EMA and rebounded promptly after testing it. Moving averages (50, 100 and 200 EMA) are set downwards as indicated in the same trading chart. Resistance touched the 1.0900 region, support marked the 1.0850 level . Technical trading tools established bearish patterns. MACD grew less and indicated strength for the sellers. RSI oscillator consolidated around the negative zone.

USD/JPY Technical Analysis: November 14, 2016

The pair USD/JPY declined by the start of trading session last Friday but was able to recover forming a hammer pattern. This signals the prices is about to go higher than the 108.50 level which has been a rigid resistance. Greenback being a powerful competitor, rallying in the financial market, withdrawal is not far from happening. The firm resistance at 105 handle is anticipated to remain strong as the base of this market. Traders should presume volatility of this pair, nevertheless still with a positive outlook.

AUD/USD Technical Analysis: November 14, 2016

Last Friday’s trading session, a candle pattern was formed indicating a negative outlook for the pair AUD/USD. The market supports this trend reaching towards the 0.75 level as it goes much higher to 0.7750 support level. Should the trend breaks at 0.752 level, it will change course to a downward direction.

It is advised for Aussie traders to look out for Gold as indicator which has a big impact that is known to have an interdependence relationship with Australian dollar market.

EUR/USD Fundamental Analysis: November 14, 2016

Euro against greenback has been in a tight spot last Friday as the USD rallies after the negative reaction from the market the prior week. Trump acted on a low key instead of further alleviating the problems of side-by-side negative comments and accusations regarding his campaign especially the issue about the Obama Healthcare Plan which he strongly believes he could improve the U.S. Economy.

Trump has also mentioned to carry on the Federal Reserve where the next Fed policy would go on as planned. The market is agitated with the next Fed rate hike while they are positioning for quite some time now for the next prices. This has also been favorable for U.S. Dollars while giving tension for the pair as it closed at 1.0850 level last week. The price was able to break this Monday morning at 1.0780 level.

The speech of Draghi later this day is what to look out for during the U.S. Session where the market could get hints on the next step whether there would be cut on QE some time in the future. However, it is known the Draghi may not talk about the monetary policy, then the market would be directed by the figurative trends and current cash flow in the market.

USD/JPY Technical Analysis: November 15, 2016

The JPY was subject to selling pressure following a speech from the Bank of Japan’s Haruhiko Kuroda. The Japanese yen was unable to receive substantial support from domestic demand in spite of the positive output for the Japanese GDP for the third quarter. Meanwhile, the USD was subject to increased buying pressure, causing the USD/JPY pair to increase in value.

The currency pair’s value continued to trade along the upper range, with the pair testing the 108.00 range, where it remained until the end of the London trading session. The New York session saw the USD/JPY break through its previous level and buyers were able to extend profits beyond the 108.00 region.

The USD/JPY’s 4-hour chart shows the pair going well beyond its current moving averages, while the pair’s 50, 100, and 200 EMAs showed a significant increase in value. Resistance levels for the USD/JPY is currently at 108.50, while support levels are expected to be at 108.00.

The pair’s technical indicators are all situated at the positive region. The USD will have to go beyond 108.00 in order to maintain the pair’s bullish stance and to keep the pair going up to 108.50. Sellers are also expected to make a comeback in the market, with the 106.50 as their primary aim for the USD/JPY.

EUR/USD Fundamental Analysis: November 15, 2016

The USD has been recently exhibiting a steady increase, causing the EUR/USD pair to open this week’s session with a weaker value and went even lower as the previous session progressed. The currency pair closed last week’s session at its support levels of 1.0850 and the market was expecting further support levels at 1.0800. However, the EUR/USD started out the previous trading session at below 1.0800 in the light of a broadly increasing USD value.

The EUR/USD further decreased in value, going through 1.0750 at the London session and tested support levels at 1.0700 at the start of the New York trading session. The movements of the EUR/USD were somewhat muted during the course of the trading session, mainly due to the significant strength of the USD plus Draghi opting to stay mum with regards to the ECB’s future plans on its monetary policies. The currency pair spent the rest of the New York session consolidating after the market chose to keep a positive outlook for the Trump presidency, and the USD is expected to have a continuously positive reaction in the market.

The market is now expecting the release of Germany’s preliminary GDP during the European session, as well as the retail sales data from the US to be released during the New York session. These are expected to confirm market speculations with regards to the Fed rate hike in December.

EUR/GBP Technical Analysis: November 15, 2016

The EUR/GBP pair lost its sellers below the 0.86 region for the third consecutive session, maintaining the currency pair’s stance over the key levels in the light of a highly active economic calendar.

The market is expecting the release of Germany’s GDP report for the third quarter of 2016. The CPI data for the UK is also expected to exhibit an increased cost of living for the nation at 1.1% for October. The GDP report for the European Union is also expected to get significant attention from market players as it gets released later in the session.

The increased activity in the economic calendar could lead to an increase in stock market activity, which will then have a significant impact on the demand for EUR. The EUR/GBP is currently trading at the 0.8610 range, and incessant bounces from the 0.86 handle could possibly cause the pair to break through the handle and could lead the pair to trade at 0.8652 points and 0.85.

On the positive territory, if the pair manages to go above its 100-DMA of 0.8628 then this could cause the pair to go over 0.8664 and possibly even reach its zero figure of 0.8700.

GBP/USD Technical Analysis: November 15, 2016


The Great Britain did not issued macroeconomic releases as of yesterday. The market is described to be in a risk-off sentiment, however, it made an unsafe fall back for the pound as it swings around on its fresh lows. The unfavorable data of China’s economic activities relatively affected the GBP. The sterling further made a price break amid the opening session on Monday. The price decline from 1.2594 to 1.2564 levels which nearly fill the gap in the mid-Asia.

The market met the 1.2591 region that provided another flow of selling pressure. Sellers were able to push the price downwards and tested the 1.2500 mark before the opening of EU session.

The pair entered the level and indicated 1.2450 daily lows but promptly carried out a roll back. The 200-EMA is neutral which also impede the sellers to lowered down the fillips. The 50-EMA pass over the 100-EMA through an upward motion. Both moving averages executed an upward trajectory. Current resistance meets the 1.2600 region, support stands at the 1.2500 level.

The technical indicators generated bearish patterns. Moreover, the MACD histogram showed some weakening against the buyer’s position. RSI stayed behind the overbought zone then pointed southwards. Mainly, the market is seen to be dominated by the bears.

EUR/USD Technical Analysis: November 15, 2016


The euro move back on its eleven-month lows throughout the mixed options of Eurozone data releases which lies in the red due to the victory of Donald Trump in the recent U.S elections.

The euro break a lower opening when the price plunged from the 1.0850 region to 1.0830 yesterday. The common currency was unable to fill the gap it created since it moved in a downward position and traded in a short-term lower trend line. The pair were blocked at 1.0800 level and slowed down amid Asian session.

Subsequent to the consolidation period, the EURUSD were able to push the level and manage its losses within the 1.0750 level. Sellers merely testing the level and locked in a daily low of 1.0727 in the post-EU open. The EUR curtailed after breaking the aforesaid level.

The price is trading below the moving averages as indicated in the 4-hour chart. Moving averages (50, 100 and 200 EMAs) are in a downward direction. Resistance is situated at 1.0750, support is seen at 1.0700. The technical indicators have gauged that the pair settled in the oversold situation and occupied the negative levels. The MACD histogram weakened and confirmed strength for the sellers. The RSI indicator approaches the overvalued zone which favors an advance move lower.

It is recommended for the pair to go back to the 1.0850 level in order to ease the downward pressure.