Analysis By Pair

Daily Forex Market Update – GBPUSD Institutional Levels

Daily Forex Market Update – GBPUSD Institutional Levels

We are waiting for a pullback to the 1.2568 figure to get short, but until then here are some institutional levels that we are watching. If we break below 1.2376/1.2361 we will likely get down to 1.23~ where there is some pretty strong support. Unique Forex is where retail traders become institutional traders. Learn to trade like an institutional trader and become consistently profitable.

Daily Forex Market Update

USDJPY Trading Idea

Price reached 118.00 level and formed bearish divergence with RSI. It’s time for closing all long trades with good profit. We have a signal for possible down movement. Open short trades, when MACD histogram and ADX line start falling. Place stop orders above the resistance level 118.00. Profit targets are Moving Averages with 20, 50 and 100 periods. You can search for entry levels on the daily and hourly charts.

Daily Forex Market Update

USDCAD R Favors longs targeting 1.35

Morning traders, Buying has begun like clockwork this morning. With the outlook of near-term USD strength and the risk of a setback in oil prices, we still risks skewed towards a higher usd/cad over the coming months. Aim for 1.35 in the month ahead, wishing you all a great holiday ahead.

Daily Forex Market Update

GBPJPY break the uptrend channel

GBPJPY break the uptrend channel Let’s find some place to short the gbpjpy The first level I may consider will be 146.00 Will tend to short GBPJPY when price pulls back and aim to 141.80

Daily Forex Market Update

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Mohammad Riad

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  • GBP/USD Fundamental Analysis: December 20, 2016

    The GBP/USD pair exhibited consolidation and range trading during the past trading session, with the currency pair now trading over 1.2400 points with more consolidation plus a bearish bias for today’s sessions. The currency pair initially exhibited positive movement during the earlier sessions but dropped in value as yesterday’s trading sessions progressed. There were economic releases from the UK during yesterday’s session, but the Scottish Prime Minister has released a statement which inadvertently threatens the UK’s Brexit process after Scotland decided to remain in the European Union, whereas the whole of UK has already decided to relieve themselves from the eurozone. This has already increased the risk of the already very muddled Brexit process since Parliament members are now in the middle of debating the validity of Article 50 which is a vital part of the said process.

    For today’s trading session, there are no major economic releases expected from the UK but the recent strength of the USD could dominate the whole market, and the continuing confusion with regards to the Brexit process could increase the downward pressure on the GBP/USD pair for the coming weeks. Any bounce found in the currency pair should be immediately seen as a short opportunity for this particular currency pair.

  • GBP/USD Fundamental Analysis: December 21, 2016

    The GBP/USD pair is now struggling to cope with the effects of the markedly low liquidity during this holiday season, much like other currency pairs. However, the GBP/USD managed to fare relatively better in terms of market volatility as compared to other currencies since it had a 100-pip range for the previous trading sessions. In spite of the USD’s current strength becoming the dominant feature of the financial market, the lack of market volatility has managed to offset the USD’s strength and has become advantageous to other currencies such as the sterling pound. The USD is expected to regain market control eventually, but until that happens, then the GBP could still range and consolidate at the lower region of 1.2500 points.

    As the Brexit process resumes, the GBP/USD is expected to trade with a bearish bias for the short term and medium term, especially since Scotland is apparently disagreeing with UK’s plans to leave the European Union and the UK will have to exert more effort in order to negotiate with all involved parties and make way for an easier Brexit process. Theresa May will also be needing additional support as the Brexit process begins, which is expected to become a long and arduous process.

    For today’s session, there are no major news releases from Britain, and with the holiday season fast approaching, liquidity is expected to drop further which could lead to more ranging and consolidation on most currency pairs.

  • EUR/USD Fundamental Analysis: December 21, 2016

    The EUR/USD pair experienced consolidation and ranging during Tuesday’s trading session, with the currency pair becoming limited to a 60-pip range in spite of the dollar’s increasing strength. This particular range for the EUR/USD is expected to become more limited and tighter as the holiday season approaches, mostly due to lowered liquidity during this period, with market players most likely taking advantage of this period to drive certain currency pairs in directions more favorable for their trades. Traders are advised against trading during this time, but if they do so, stop losses should be tight enough to avoid possible mishaps in the short term.

    For today’s trading session, there are no major economic events scheduled to be released from either the US or the European Union, and the EUR/USD is expected to exhibit more ranging, albeit with a more pronounced bearish bias. If the pair would be able to reach the 1.0460 region, then this could be seen as an opportunity to trade in the short-term with a more secure stop loss. The recent strength of the value of the US dollar is expected to dominate the overall direction of the market both in the short run and the long run.

  • USD/JPY Technical Analysis: December 21, 2016

    The JPY experienced a drop in value following the latest economic news release from Japan, where the Bank of Japan decided to maintain its current monetary policies until such time that inflation rates go beyond 2%. The Japanese economy is also reportedly continuing its recent recovery. The USD/JPY pair rallied during Tuesday’s trading session following this move from the BoJ, and buyers were able to take control of the pair and sent the USD/JPY soaring well beyond its daily highs. The USD went up from 117.00 to 118.00 in the London trading session, and was able to test the 118.00 region prior to the opening of the North American session. The value of the USD/JPY reverted from the 100 EMA in the pair’s hourly chart. Meanwhile, the USD went beyond the 50 EMA while on its way towards the upper region of the chart and veered away from its moving averages. Resistance levels for the currency pair is expected to come in at 118.00 points, while support levels are expected to be at 117.00 points.

    The MACD levels for the currency pair stayed within its previous level, indicating the increase in buyer strength. The RSI indicators for the currency pair went upwards as well. If buyers are able to maintain its control over the USD/JPY pair, then the price of the value could possibly move up further to 119.00 points.

  • GBP/USD Technical Analysis: January 11, 2017

    The British pound had maintained its present stance on the back of the remarks made by PM Theresa May. The hard-Brexit continue to affect the investor’s sentiment while the attention of investors was focused on the data release of Industrial and Manufacturing Production.
    Bears remains to dominate the market and their holds are becoming tighter.

    Furthermore, the sterling continued to weaken on Tuesday followed by the short consolidation amid the Asian hours. The sellers moved the cable downwards and touched the 1.2100 level in the London session.

    The 4-hour chart showed the price stayed below the moving averages and further cope with the consolidation period before the opening of the NY session. The MAs preserved its bearish trend. Resistance plunged into the 1.2200, support lies at 1.2100 region. The technicals shifted towards a lower point.

    The MACD indicator had a dip which favors strength for the sellers. The RSI stick around the oversold levels.

    The GBP seems oversold in the near-term which allows reversal of losses. The probable minor recovery around 1.2200 provides an opportunity for short positions. The pair may not change its movements in the near future even though the readings suggests an oversold condition.

    The sellers have the chance to regain its seat in case the trend will reached 1.2100 and lead the cable through 1.2000.

  • 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 seller’s 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.

  • GBP/USD Fundamental Analysis: January 24, 2017

    Today’s trading session is expected to be very critical for the GBP/USD pair since UK is now awaiting for the release of the country’s SC ruling with regards to its eurozone membership, as well as the Brexit process, which is set to be released during today’s session. The GBP/USD pair has increased in value over the past 24 hours as part of market anticipation, with the currency pair closing yesterday’s session at over 1.2500 points after months of being unable to go over 1.2500 due to repeated pummeling from bears of the said currency. However, since yesterday was a generally good day for the sterling pound, the market is expecting that this currency pair would be able to reach 1.2700 or even 1.2800 in the short-term outlook for the GBP/USD pair.

    The UK Supreme Court will be releasing its decision on whether the Article 50 will have to undergo scrutiny from the Parliament or otherwise, since the Article 50 is an essential factor on the carrying out of the Brexit process. The market is generally anticipating that the SC will be approving the Article 50 invocation, and if this does happen, then this will ensure that the whole of the Brexit process will be well-thought of, and this will ensure that equal distribution of ideas instead of the power becoming limited to select people in the government. This is expected to drive up the value of the GBP, but then there are also some risks that the Parliament approval might cause delays in the Brexit process since all views and ideas must be taken into consideration as part of the process.

    There are no major news releases from the UK except for the SC ruling for the Brexit process, as well as from the US.

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