Welcome to Nigerian Elites Forum


Dreaming of a better Nigeria?.

>>>We love Nigeria.
>>>We want to see a better Nigeria.
>>>We dream of freedom.


...Join us now !!!


that is why we are here,we wish to make Nigeria a better place for us and family to live.


Let's create influence towards a better Nigeria now!

Registration is free.

P.s.: For registered members Nigerian Elites Forum is hitch free.

Page 16 of 24 FirstFirst ... 61415161718 ... LastLast
Results 226 to 240 of 357

Daily Market Analysis from ForexMart

Daily Market Analysis from ForexMart  ; The GBP/USD significantly increased in value during the previous trading session after the USD dropped following the release of the latest FOMC meeting minutes. The market was somewhat docile during ...

  1. #226
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default GBP/USD Fundamental Analysis: January 5, 2017



    The GBP/USD significantly increased in value during the previous trading session after the USD dropped following the release of the latest FOMC meeting minutes. The market was somewhat docile during the rest of yesterday’s session but immediately picked up after the release of the minutes during the North American session yesterday, and has caused the USD to undergo corrections across the board.

    However, the reaction of the GBP/USD pair to this phenomenon is somewhat docile compared to other USD-related currency pairs, and this is expected to keep the bulls on their toes. Initially, the GBP/USD pair was expected to rise exponentially since the UK construction PMI data clocked in a highly positive reading and exceeded its market expectations of 54.2, and the FOMC minutes lacked the expected hawkishness from the market. But the reason why this currency pair’s growth was significantly limited is that the various risks and uncertainties surrounding the Brexit process continues to dog a lot of traders due to the general confusion within this issue. This is why a number of speculators are saying that the GBP/USD would be receiving the shorter end of the stick once the USD regains its strength.

    Although the UK is not expected to release any economic data for today, the US will be releasing a number of important economic data along with the highly essential NFP report, which is expected to determine the overall market sentiment for the rest of the month. If these set of data comes out as positive, then the USD could possibly rebound and could be sustained until the end of January.

    Name:  GBPUSD05.png
Views: 7
Size:  26.8 KB


    ForexMart



  2. #227
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default USD/CAD Fundamental Analysis: January 5, 2017


    The USD/CAD pair exhibited a significantly large correction during yesterday’s trading session after the USD lost some of its value due to the absence of a hawkish undertone on the minutes of the FOMC meeting which was released yesterday. The USD/CAD only weakened further since it had already failed to reach the higher trading regions. The USD/CAD pair is now sitting just over the 1.3300 trading region.

    Since oil prices have been generally positive during the past few days, the market expects that its effect would be felt in the current value of the CAD as well, and true enough, the currency pair dropped yesterday while the market went into a lull. The Canadian dollar then extended its losses after the release of the FOMC minutes, which triggered the weakening of the USD and therefore increased the downward pressure on the USD/CAD pair.

    There are no major economic news releases from the Canadian economy for today’s session. However, the US is expecting to release a number of major data, including the Unemployment Claims data, and the ADP employment report. These data are determinant of whether the market would experience added volatility or otherwise, depending on the readings. The US will also be releasing the NFP report tomorrow, which is considered as a critical determinant of market volatility. Traders are encouraged to evaluate the effects of these news releases on the currency pair before trading in on the USD/CAD.



    ForexMart

  3. #228
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default NZD/USD Technical Analysis: January 9, 2016


    The kiwi expand its recovery against its U.S peer during the middle session of Asia. Meanwhile, the NZD/USD is unable to move further the 0.7050 level and bounce back after it touched the aforesaid level.

    During the EU session, the pair remained in a tight range that lies in the middle of 0.7000 and 0.7030. Another session of selling interest drove the New Zealand dollar downwards prior to the opening of the NY trades.

    The price had a steep decline towards the 0.7000 range and extended its losses. According in the 4-hour chart, the price pushed the 50 and 100-EMAs higher and the 200-EMA was tested. It continued to struggle together with the neutral 200-EMA in the course of the EU hours. Moreover, the 50-EMA ascended, at the same time the 100-EMA moved southwards. Resistance touched the 0.7050, support is seen at 0.7000.

    The indicators en route north around the bullish zone. The MACD histogram increased, favoring buyer’s strength. The RSI lies in overvalued territory.

    The technical represents a bullish momentum. A The technical picture presents a bullish tone. A rapid price decline on top of the 0.7050 impedes the increase within the 0.7100 resistance level.



    ForexMart

  4. #229
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default GBP/USD Technical Analysis: January 9, 2017


    There is no major economic news anticipated in the United Kingdom last Friday. While the data from U.S affected the market as traders awaits for the figures of trade balance and labor data.

    After it reached the 1.2430 level in the Asian session, the GBP/USD weakened and shifted downside. The British currency returned to the support region 1.2400 where it met a stable support during the morning trades.

    The cable pair extremely toggles in a narrow range amid EU session waiting for a renewed stimulus. Furthermore, a selling interest arises before the onset of the NY trades as it pushed the pair downwards.

    As shown in the 4-hour chart, the price drove the 50 and 100-EMAs higher. The pair remained in the middle of the neutralize 200-EMA and bearish 100-EMA in the earlier trading. Resistance entered the 1.2400, support touched the 1.2300 region.

    The technicals had a moderate reversal from the overbought zone. The MACD indicator traded in the downside. The RSI stayed around the overvalued readings.

    In case the GBPUSD breakout within the 1.2400 resistance level upon the establishing of buy orders, the price recovery may extend through the marks 1.2450 and 1.2500. However, a negative signal and further risk easing would emerge when a movement push through the 1.23 level. Furthermore, sellers were able to send the pair towards 1.2200.

    Name:  GBPUSD09.png
Views: 5
Size:  23.7 KB


    ForexMart

  5. #230
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default USD/CAD Fundamental Analysis: January 9, 2017


    The USD/CAD has recently been in a reticent mood during the past few trading sessions, and analysts are speculating that the USD/CAD pair could possibly be in for a good trading session since oil prices have now become buoyant and is expected to remain buoyant since the cutbacks in the production of oil are expected to be implemented anytime soon, thereby spelling good news for the Canadian dollar. The Canadian trade balance data as well as the employment change data also came out exceeding initial investor expectations, and this means that the CAD would be receiving substantial support both in the long term and short term, and the Canadian dollar’s value could be well on its way to increasing.

    In a much more normal market setting, a scenario such as this would automatically lead to a correction in the USD/CAD. However, the USD is also gaining strength alongside the CAD, and this is expected to offset if not completely counter the effects of the recent rise in the value of the Canadian dollar. This situation is then expected to keep the pair within a tight trading range in the short term period. Friday’s session was a testament to this scenario, as the currency pair made a short drop at 1.3200 points but immediately went up above 1.3200 after the release of the economic data from the regions before finally settling just below 1.3250 points. There are no expected economic data to be released from both the Canadian and US economy for today, and this could help the USD/CAD to extend its gains towards 1.3300 points.



    ForexMart

  6. #231
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default GBP/USD Fundamental Analysis: January 9, 2017


    A lot of analysts have been initially saying that the GBP/USD pair will be the currency most likely to experience the majority of the adverse effects of the recent surge in the USD’s value, especially since there is a lot of confusion and discussion going on with regards to the provisions of the Brexit process, particularly with its stakeholders, who all have to step up their game in the next two years. This is why the GBP/USD pair has recently become more susceptible than ever, and traders are advised against selling any bounces in the GBP/USD pair. The downward trend in this particular currency pair is very evident, since its bounces have been very few and far in between, with deep corrections dogging the pair’s direction.

    Friday’s session proved this particular downtrend in the pair, since the market has seen the currency pair stop its consolidation and plummeted through 1.2400 points and eventually through 1.2300 points. The NFP report as well as the average wages data from the US also came in last Friday, with the data showing an increase in average wages, thereby increasing chances that the Federal Reserve would be soon stating its next interest rate hike. The Scottish Prime Minister has also released some comments over the weekend, saying that Scotland would most likely undergo yet another vote with regards to “Scexit”, or Scottish independence from the UK. During the controversial Brexit vote, it can be recalled that Scotland initially voted to remain in the European Union but eventually had to concede after majority of the UK states voted to “exit” from the EU. This is only one the many issues surrounding the Brexit process, and will be incessantly putting the sterling pound in great risk.

    There are no major economic data expected today from both the UK and the US, and the market is expected to be continuously dominated by the existing market trends for today’s trading session,and the USD strength is expected to be the driving force behind the market for today.

    Name:  GBPUSD09.png
Views: 4
Size:  26.2 KB


    ForexMart

  7. #232
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default EUR/USD Fundamental Analysis: January 9, 2017


    The EUR/USD pair traded in a muted fashion and exhibited ranging and consolidation after falling slightly from its original value following the release of the NFP report as well as US earnings report last Friday. The NFP report fell somewhat short of its initial market expectations. However, the US wage earnings increased significantly, thereby compelling the market to shift its focus instead on the wage earnings data.

    The January report for the average wages data has spelled good news for the market, since it generally shows that more and more people are now able to sustain themselves, and would still be able to do so even if the Federal Reserve chooses to again increase its interest rates as needed. This has caused the USD to regain its losses, with the EUR/USD pair losing its ability to maintain its stance over 1.0600 points and has since then went below 1.0550, where it is still currently situated. Analysts are speculating that the strength of the USD would continue to surge for today’s trading session.

    There are no major economic news releases expected from both the US and the European Union for today, and this means that the current market trends are expected to continue dominating the economy for today. The USD is expected to continue storming through the EUR/USD pair’s trading activity for today, even though this particular currency has exhibited unwavering strength over the past few days. This currency is expected to remain subjected to downward pressure for the rest of today’s session, and this could possibly induce the pair’s direction to move towards 1.0500 points.



    ForexMart

  8. #233
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default USD/CAD Technical Analysis: January 10, 2017


    The commodity-linked Canadian currency moved back as the dollar strengthened and oil prices declined. A bearish bias prevailed on Monday. The price tried to recover however, the 1.3260 hurdle prevents it to continue.

    Upon reaching the aforementioned level, the greenbacks rebounded from the barrier and progress towards the 1.3190 region afterward.

    The price continued to develop under the moving averages as indicated in the 4-hour chart. Shown in the same trading chart, the 50-EMA extended over the 100-EMA downwards. Moreover, the 50 and 200-EMAs maintained a lower position while the 100-EMA held an upward direction. Resistance lies at 1.3260, support entered the 1.3190. The MACD indicators improved which confirmed weak seller’s position. RSI hovered in the oversold readings.

    The bearish sentiment is preferable to dominate as of now, another downtrend is further expected. The next target of the sellers are 1.3120 and 1.3190. The USD/CAD is able to bounce off its losses supposing that it breaks the 1.3260 handle upwards so it can reached the 1.3330 region.

    Name:  USDCAD10.png
Views: 6
Size:  23.7 KB


    ForexMart

  9. #234
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default GBP/USD Technical Analysis: January 10, 2017


    As the week starts, the British currency was marked red. The GBP/USD softened due to rising concerns about Hard-Brexit. However, the price index of Halifax provided minor support for the pound because the House Prices published a higher than expected results. Meanwhile, sellers consistently manage the overall market on Monday.

    The sterling had a downward price break during the daily trades opening as it promptly spread its weakness until the 1.2200 level.

    After the pair reached the level, the pressured area continued to fade while the pair advance towards the consolidation phase. However, the consolidation was short-lived making another bout of selling pressure which drove the Cable to the 1.2100 area.

    A downward momentum further faded with some pips on top of the 1.2200 handle after it touched the 1.2123 mark, the price rebounded and lessened the amount of their losses.

    The 1-hour chart showed that the sterling lead the moving averages towards a lower point, seeing the 50-EMA descended while 200 and 100-EMAs are trending flat. Resistance took the 1.2200 range, support entered the 1.2100.

    The MACD indicator jumps into the negative zone. In case the histogram hovered in the negative territory, sellers will strengthen. The RSI stay close to the oversold condition, indicating another lower movement.

    As shown in the 4-hour chart, the bearish bias will prevail. Sellers were able to come at 1.2100 level in the near-term, heading to 1.2000. There is still a possibility for the GBPUSD to make an attempt in reclaiming the resistance regions 1.2200 – 1.2230.


    ForexMart

  10. #235
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default AUD/USD Fundamental Analysis: January 10, 2017


    The recent drop in the value of the US dollar proved to be good news for the Australian dollar, as this provided substantial support for the AUD during the previous trading session. In spite of the fact that the previous sessions were mostly made up of high bottoms and tops, the Australian dollar was still generally able to maintain its standing on the positive side of the chart. The AUD/USD pair closed down the previous trading session at 0.7353 points after increasing by +0.82% or 0.0060 points.

    A number of Australian economic data was released during Monday’s trading session, with the Building Approvals data coming in at a positive 7.0% reading and the Australian retail sales data coming in at a somewhat dismal reading of 0.2% after failing to meet market expectations of 0.4%. Meanwhile, the US Labor Market Conditions Index dropped by 0.3 points, while the Consumer Credit data surged by 24.5 billion from its previous reading of 18.3 billion.

    The AUD/USD pair will be starting off today’s trading session within a somewhat critical range within 0.7341 to 0.7385 points. If the currency pair moves just underneath 0.7341, then this will be an indicator of a larger selling pressure than buying pressure at the present levels of the pair. Since there are no expected economic news releases from the region for today, traders are most likely to focus on external events and its effect on the USD and subsequently, on its effect on the AUD. The US dollar could lose its appeal as an asset if oil prices drop further which will cause US Treasury yields to fall as well.

    Name:  AUDUSD10.png
Views: 2
Size:  25.4 KB


    ForexMart

  11. #236
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default GBP/USD Fundamental Analysis: January 10, 2017


    The sterling pound continued its weak trading activity during yesterday’s session as the fears and confusion surrounding the Brexit process as well as other such concerns continue to weigh down on the GBP, a trend which has been going on for the past weeks. The GBP/USD pair was unable to increase in value in spite of the marked dollar weakness during the previous trading session. Market analysts are speculating that the currency pair is currently locked within a highly bearish stance and could possibly incur more losses in the coming days.

    Stock prices fell yesterday due to uncertainties surrounding the current position of commodity prices, particularly crude oil prices, as well as Brexit-related concerns. A lot of traders and investors are saying that the market might be well-headed for a hard Brexit, which means that the negotiations between UK leaders and EU officials might prove to be much harder than expected, and also implies that the UK might be unable to obtain free market zone access to the rest of the European Union once they formally leave the eurozone. In addition, Scotland seems to be taking measures to leave the UK in protest to Brexit, which means that the sterling pound is more likely to decrease further in value.

    For today’s session, the current market trends are expected to continue since there are no scheduled releases from the UK and the US. The sterling pound is still expected to fail to bounce back from its recent low levels due to the various negative economic factors which continue to affect the state of the pound.



    ForexMart

  12. #237
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default EUR/USD Fundamental Analysis: January 10, 2017


    The EUR/USD pair exhibited bullish stances during yesterday’s trading session. The US has recently released its average wages data as well as its employment reports data, both of which turned out to be highly satisfactory particularly for investors. This set of data has then set the tone for the market’s movements this week. The USD has increased significantly in value as opposed to the EUR, but the EUR/USD pair was able to counter this movement and instead consolidated during the Tokyo and European trading sessions. The currency pair was able to break through 1.0580 from 1.0520 during the North American session before finally settling just below 1.0600 points.

    The USD received little support from comments from Fed officials yesterday, which turned out to be hawkish. The currency pair is now back to trading near its weekly highs last week, a crucial position for both the USD and the EUR. The dollar will most likely be able to regain its strength if the EUR/USD experiences a breakdown. However, if the EUR is able to go beyond 1.0600 and possibly reach 1.0650 points, then the euro could increase in value, thereby putting the US dollar in negative territory. A number of large-scale banks and hedge funds are expecting the USD to regain its strength anytime soon since the fundamentals are all pointing towards a higher value for the USD. However, the dollar bulls must be able to obtain the right timing in order for the USD to strengthen further.

    Today’s trading session is most likely to be dominated by the recent market trends as there are no major news releases expected from both the US and the European Union. The pricing of the USD is closely monitored by the market since this could be a catalyst on whether the stock market will be pushing through their bullish direction or consolidate instead.



    ForexMart

  13. #238
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default EUR/USD Technical Analysis: January 11, 2017


    The positive data from the Investor Confidence in Euroland had strengthened the single European currency yesterday. While, the U.S dollar was able to regain its losses last Tuesday as the Fed told to support the rate hike in 2017. The traders look forward to the ongoing status for Trump’s first conference scheduled today.

    Moreover, the momentum of EU appears to be short-lived having touched the 1.0600 level amid the morning trades on Tuesday. After the daily high was set at 1.0626, the EURUSD moved back under 1.0600 in the post session of the European open.

    The sellers drove the EUR downwards prior the opening of the New York trading. As shown in the 4-hour chart, the price resumed its development on top of the 200-EMA which considered to be pair’s support. The 200 and 100-EMAs were trending flat while the 50-EMA headed upwards. Resistance entered the 1.0600 region, support is at 1.0550 handle. The technicals gradually approached the lower positive territory.

    The MACD histogram declined which confirmed weak position for the buyers. The RSI oscillator hovered around the undervalued zone.

    According to forecast, the bearish pressure will be renewed in the near-term. A rapid decline below the 1.0550 mark would indicate further vulnerability for the pair. The next bearish target is posted at the 1.0500 level.

    Name:  EURUSD11.png
Views: 3
Size:  23.9 KB


    ForexMart

  14. #239
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default 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.


    ForexMart

  15. #240
    Member No
    16191
    Join Date
    Aug 2016
    Posts
    522
    Points
    ₦50,055.60

    Default AUD/USD Technical Analysis: January 11, 2017


    The Aussie presented a sluggish stance yesterday as the Retail sales data showed negative results. The pessimistic input for the Chinese CPI had affected the currency as well.
    Moreover, an attempt to surpass the 0.7350 level were unsuccessful.

    Buyers advanced to 0.7385 where AUD/USD found some fresh offers and declined to 0.7350. Having tested the aforesaid level, sellers resumed its struggle to push the price downwards.

    During the morning trades, the price tested 200-EMA as indicated in the 4-hour chart. It further stalls the bull’s movement to continue forward as it acted as the spot’s resistance.

    The 200 and 100-EMAs are neutral while 50-EMA edged higher as mentioned in the same timeframe. Resistance holds 0.7400 level, support is seen at 0.7350 region .

    MACD indicator dwindled and implied weak position against the buyers. RSI consolidated around the undervalued readings.

    As the forecast says, bearish bias kept prevailing in the market. In the most probable scenario, if the price focus below the 0.7350 support level the short-term downtrend could possibly continue. The next target of the sellers are marks 0.7250 and 0.7300.

    Name:  AUDUSD11.png
Views: 3
Size:  22.9 KB


    ForexMart

Page 16 of 24 FirstFirst ... 61415161718 ... LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Disclaimer: Every Nigerian Elites Forum member is solely responsible for anything that he/she posts or uploads on Nigerian Elites Forum. Nigerian Elites Forum will not be held liable for any damage, miscarriage or offensive/ abusive post made by any member of the Nigerian Elites Forum.