Daily Market Analysis from ForexMart

Page 98 of 98 FirstFirst ... 4888969798
Results 971 to 974 of 974

Thread: Daily Market Analysis from ForexMart

  1. #971
    Senior Member KostiaForexMart's Avatar
    Join Date
    Mar 2019
    Posts
    557
    Thanked: 0

    Default

    Daily Market Analysis from ForexMart
    Forecast for USD/JPY on November 30, 2021

    Yesterday, the USD/JPY pair once again tested the strength of the embedded line of the price channel of the higher timeframe, it is shown in green on the chart. Now this support was strengthened by the MACD indicator line - the price rebound to the upside turned out to be qualitative. The Marlin Oscillator supports the reversal, but still remains in the negative area.

    However, the reversal should be confirmed. A visually strong resistance level is the upper border of the consolidation on October 26-November 4 at 114.31. It is also desirable to receive confirmation from the Marlin Oscillator, which needs to move into the zone of positive values.

    On the chart of the four-hour scale, the bulls' shortcomings, or rather the inadequacy of the work done by them, is seen more clearly. The price is still far below the balance and MACD indicator lines, the Marlin Oscillator is moving up slowly and is still in the negative area. Therefore, the likelihood of another attack on support at 113.13 remains high. We are waiting for the development of further events, the formation of any technical signals or the strengthening of the existing prerequisites.

    Forecast for AUD/USD on November 30, 2021

    The Australian dollar gained 23 points on Monday, the trading range stayed within the 0.7107-07171 levels. Overcoming any of these levels may mean a continuation of the short-term movement: downward to the 0.7065 target (June 2020 high), ascending to the target of 0.7227. The Marlin Oscillator is showing an upward reversal, but it looks weak.

    On the four-hour scale, the price approaches the magnetic point - to the point where the target level of 0.7171 coincides with the balance (red) and MACD (blue) indicator lines. The Marlin Oscillator already anticipates this event with a transition to a positive area, entering a zone of a growing trend.

    So consolidating above 0.7171 opens the target at 0.7227. This is the main option. If the price moves below the level of 0.7107, an alternative variant will open with a movement to 0.7065.
    Regards, PR-Manager ForexMart

  2. #972
    Senior Member KostiaForexMart's Avatar
    Join Date
    Mar 2019
    Posts
    557
    Thanked: 0

    Default

    Technical analysis recommendations of EUR/USD and GBP/USD on December 1, 2021

    EUR/USD

    The bears descended to the area of the final border of the monthly Ichimoku gold cross (1.1290) last month. It was not possible to break through the level, the closing of the month was indicated by a long lower shadow of the monthly candle. Therefore, the bulls now have opportunities to develop the rebound from the encountered support. In this situation, it will be possible to make further plans and consider new upward prospects after the formation of a rebound from 1.1290 and consolidation above the important resistance zone of 1.1439 - 1.1492, where several of the strongest levels in the higher timeframes combined (monthly levels + weekly short-term trend + closing levels of the daily Ichimoku cross).

    Yesterday, the nearest resistance along the way was tested the daily Fibo Kijun (1.1379). Alternatively, the breakdown of the monthly support at 1.1290 and the update of the November low (1.1186), will allow us to consider continuing the decline and strengthening the bearish mood. In this case, the closest downward pivot point will be the weekly target for the breakdown of the cloud (1.0806 - 1.0960).

    The bulls in the smaller timeframes limited themselves yesterday to testing the final border of the classic pivot levels and failed to continue the rise further. At the moment, they still have the advantage. Today, their intraday pivot points are set at 1.1402 - 1.1467 - 1.1550 (classic pivot levels). The key support levels, which are now located at 1.1319 (central Pivot level) and 1.1267 (weekly long-term trend), allow the bulls to defend their interests despite the long-term trading in the correction zone.

    A consolidation below will change the current balance of power and bring back the relevance of bearish targets, such as the minimum extremum (1.1186) and the support of the classic pivot levels (1.1254 - 1.1171 - 1.1106).

    GBP/USD

    The bears tried to reach the monthly support (1.3164) at the end of the previous month but failed to test the level or close the month next to it. Nevertheless, November indicated the nearest bearish plans entering the bearish zone relative to the weekly Ichimoku cloud (1.3248) and breaking through the monthly support (1.3164).

    As for the bulls, it is important for them to keep their position above the current support and attraction zone 1.3248 (lower border of the weekly cloud) - 1.3164 (monthly Fibo Kijun), regain support for the daily short-term trend (1.3351), and also strive to restore their positions to weekly levels (1.3516-76), eliminate the daily dead cross (1.3503 - 1.3586) and rise to the daily Ichimoku cloud.

    Bullish traders in the smaller intervals failed to consolidate above the key levels and reverse the moving average yesterday, which resulted in the continuing struggle for key levels. Today's key levels are at 1.3286 (central pivot level) and 1.3322 (weekly long-term trend). A movement below the levels gives preference to the bears. Their pivot points are currently set at 1.3203 - 1.3109 - 1.3026 (support for the classic pivot levels). It is worth noting that the aforementioned levels give preference to the bulls. Their upward targets are at 1.3380 - 1.3463 - 1.3557 (resistance levels of the classic pivot levels).
    Regards, PR-Manager ForexMart

  3. #973
    Senior Member KostiaForexMart's Avatar
    Join Date
    Mar 2019
    Posts
    557
    Thanked: 0

    Default

    Is the pound sterling the restless hostage of Omicron?

    The British currency has temporarily gone into the shadow of the aggressive US dollar and the volatile euro. At the same time, the pound is trying to assert itself, while resisting pressure from the new mutation of the Omicron coronavirus.

    Before Omicron's appearance on the scene, the key drivers of the global market were traders' expectations about the early curtailment of incentives and a rise in rates. These sentiments have now intensified as the new strain has made its own adjustments. Jerome Powell, chairman of the Fed, announced his readiness to accelerate these processes amid off-scale inflation and general instability. He believes that the new COVID-19 mutation provokes prolonged inflationary pressure.

    Earlier, the Fed's head agreed that the strongest growth in consumer prices was recorded in the United States, which could push the national economy into the pit of stagflation. Against the background of extremely high inflation in the US, the yield spread between ten-year and two-year Treasury bonds has sharply declined. This indicator turned out to be at a minimum over the past 10 months, which indicates a further downward trend in the GBP/USD pair.

    In the current situation, the British currency is experiencing serious overloads. Some restlessness of the pound, bordering on confusion, destabilizes the market. According to analysts, it risks becoming a hostage of Omicron. Despite the current difficulties, the pound is trying to cope with the situation.

    The danger of a new strain of coronavirus for the British economy was noted by one of the representatives of the Bank of England. According to the official, Omicron has called into question the further growth of consumer confidence in the country. Economists fear that the new COVID-19 mutation will provoke a drop in demand for consumer services and logistics problems. At the same time, experts believe that Omicron should not affect the Bank of England's plans for a possible tightening of the PEPP.

    On Wednesday, global markets and risky assets remained stable. The British currency added 0.17%, reaching the level of 1.3318. However, the triumph was temporary: the pound remained near a one-year low against the US dollar, and then sharply fell to 1.3195. The reason for this fall was the market's doubts about the Bank of England's early interest rate hike. On Thursday morning, the GBP/USD pair was trading at the level of 1.3291. There is currently no clear trend in the pair, and the support level of 1.3263 restrains the bears' dominance.

    Many market participants are quite optimistic. Investors believe that the new strain of coronavirus will not affect the further recovery of the global economy. The pound is trying to consolidate in this trend and strengthen its current positions. According to UOB Group analysts, the pound may decline to 1.3260 in the coming weeks, although this scenario is unlikely.

    "A further drawdown of the GBP is possible, but a strong support level near 1.3195 will be a tough nut to crack," the UOB Group believes. According to analysts, the pound is not in danger of serious weakening in the short term.
    Regards, PR-Manager ForexMart

  4. #974
    Senior Member KostiaForexMart's Avatar
    Join Date
    Mar 2019
    Posts
    557
    Thanked: 0

    Default

    in ro ham eslah kon:
    Is USD dependent on stock market?

    The US dollar is again undergoing a period of volatility, with rare periods of stability, as USD traders await the US labor market report.

    Early on Friday, December 3, EUR/USD was trading at 1.1289, below the previous closing price of 1.1299. The US currency edged up slightly before the release of non-farm payrolls, fuelled by concerns over the new Omicron strain, which have now eased.

    As markets remain relatively calm, the US dollar has strengthened its position in the run-up to the non-farm payroll release. Strong US labor market data would clear the way for the Federal Reserve to raise interest rates early, analysts say.

    Recently, the US dollar has been moving largely under the influence of key interest rate changes, with safe-haven investment demand affecting it only negligibly. The American currency rate has been highly dependent on the global stock market - a new norm, according to some experts.

    At this moment, the USD cash flow is determined by equity volatility, as well as risk hedging related to it. Earlier, the inverse correlation was in effect. The Fed's key interest rate is crucial for the market. The yield of US 2-year treasury bonds, which is closely connected with the Deutsche Bank volatility index, is used to determine the future rate. Amid spiraling inflation, investors expect an early rate hike, which would push up the bond yield and the US dollar.

    The US non-farm payrolls are in focus at the end of the week. The unemployment rate is expected to go down to 4.5%, with non-farm employment projected to increase by 550,000. The amount of jobless claims fell below 2 million for the first time since the pandemic began.

    Strong US labor market data are unlikely to propel the dollar upward, but it could limit the pessimistic sentiment over the spread of Omicron variant, and allow the Fed to go through with the plan to wind down QE and hike the rates in 2022.

    While the markets remain somewhat volatile, with strong NFP expectations stabilizing it slightly, the greenback is likely to maintain upside potential. Satisfactory payroll data and the possibility of an earlier end of QE would push the dollar up.

    According to an outlook by Goldman Sachs, the Fed is expected to raise interest rates by 25 basis points three times - in June, September, and December, followed by further monetary tightening. Downside risks for the global economy caused by Omicron would boost demand for USD as a safe-haven, giving it support, Goldman Sachs analysts note.
    Regards, PR-Manager ForexMart

Similar Threads

  1. Daily Market Analysis by FxGrow
    By FxGrow Support in forum Daily Market Analysis
    Replies: 79
    Last Post: 10-14-2015, 04:52 PM
  2. EUR/ USD Daily Market Analysis 10 August
    By Emmafx in forum Daily Market Analysis
    Replies: 0
    Last Post: 08-10-2012, 09:54 AM
  3. EUR/ USD Daily Market Analysis 9th August
    By Emmafx in forum Daily Market Analysis
    Replies: 0
    Last Post: 08-09-2012, 09:08 AM

Bookmarks

Posting Permissions

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