Technical Analysis for EUR/USD: September 27, 2016

    The EUR/USD pair rallied up to 1.1278 during Monday’s trading session after positive US housing date enabled investors to avoid the advancement towards a major resistance range. US new home sales went down slightly in August, dropping at a 609,000 annual rate and decreasing by 7.6% as compared to the data last July, lower than the expected 8.6% decline. The USD was also strengthened by comments from the Fed’s lacker which has stated that there is a strong possibility of an interest rate hike in December. Germany’s IFO survey has indicated that the business environment in the EU has increased significantly in September, going up to 109.5 from August’s 106.2, with increase in both the expectations and assessments sector.

    The EUR/USD pair meanwhile continues to trade within its current range, suspending its recovery at main resistance levels, with a descent at 1.1615 points. The currency pair also experienced multiple intraday highs and lows within the 1.1280 trading range, and the upward potential will continue to be suspended as long as the price of the pair remains below 1.1280 points. Divergences can already be seen in the 4-hour chart, and the price continues to remain above a highly bullish 20 SMA which has already went above the 100 SMA. There is a high probability of a bearish trading session on Tuesday if there will be more decreases below the 1.1225 range. If the USD continues to strengthen, then there is a probable bearish trade point at 1.1160.

GBP/USD Technical Analysis: September 27, 2016

The dollar still hovers in the pressured area compared to other major pairs, seeing that the stocks remains affected regarding the Fed's resolution. Traders are taking some precautionary movements for every execution because of the impact that the U.S Presidential debate might bring.

The pair experienced a downward pressured on Monday because the pound and dollar throw over their acquired profits on Friday. Moreover, the pair also indicated a steep decline against the level of support lied at 1.2900.

The 50, 100 and 200 EMAs sustained a bearish outlook. The resistance is found in the 1.3000 level, support is present in the 1.2900 level.

MACD fail off but give out strength for the sellers. RSI is positioned in the negative condition.

Technical Analysis for GBP/USD: September 28, 2016

    The sterling pound is currently experiencing a downward pressure following a decrease in oil prices. The buying interest for the GBP/USD went down a few pips to have a current value slightly above the 1.3200 range. The currency’s value dropped significantly from the last trade high and went down between the 1.3200 and and 1.2940 trading range during the last session. The GBP/USD has now dropped beneath the moving averages while the 50, 100, and 200 EMAs is still experiencing a steady decline. Resistance levels are now at 1.3000 points, while support levels are at 1.2900.

    MACD levels are currently in the negative but remained in its previous level which indicates that sellers are now increasing their strength. The RSI is sustained at the neutral territory while oscillator levels are expected to decrease.

    Sellers would be able to break below the 1.2900 range if the GBP/USD pair would be able to stay within the negative trading range. Analysts are also expecting more sideway trades in the next few hours.

Technical Analysis for NZD/USD: September 28, 2016

    The NZD/USD pair decreased in value after a three-day high, dropping back to the 0.73 trading range in relation to its USD counterpart. The currency pair dropped by -0.26% or 0.7284 points, hovering dangerously close to the 0.7279 trading lows during the last session. The NZD was unable to sustain its bullish bearing, mostly due to sustained weakness in oil prices and a strengthening of the USD.

    The commodity currency suffered from significant decreases in oil prices caused by uncertainties in the oil output agreement between non-OPEC and OPEC oil producers. Meanwhile, the greenback was boosted by positive consumer confidence data and PMI data.

    The NZD remains to be the worst currency performer during the trading session, especially  now that traders are waiting for the release of China’s consumer sentiment numbers. The US durable goods data will also be released later today, as well as the weekly crude stockpiles report from the EIA.

The next resistance point for the NZD/USD pair is projected to be at 0.7297, with a possibility of extending gains up to 0.7332. Meanwhile, the downside support is expected to be at 0.7267 points to 0.7220 points.

Technical Analysis for EUR/USD: September 29, 2016

    The EUR/USD pair had an ambiguous stance during Wednesday’s trading session as investors and traders are waiting for statements coming from the European Central Bank and and the Federal Reserve. However, none of the two central banks are expected to release new modifications, which leaves the EUR/USD pair at a lower value than the previous trading sessions. Fed Chair Janet Yellen has already stated that there is no definite period as to when the Federal Reserve would be increasing its interest rates. On  the other hand, ECB Chair Mario Draghi has stated that the central bank’s negative rates are not the ones to be blamed for problems in the European banking sector.

    The Durable Goods Orders data came out without much activity, even falling below the expected data release in August. The DGO report has also showed that capital equipment shipments had already decreased in value four months in a row, and investors are expecting that this will lead to a drop in Q3 GDP rates.

    In general, the EUR/USD pair has been struggling to make progress during this week. The pair’s 4-hour chart indicates that its value has been unable to go above its moving averages. Momentum levels are expected to go south and below the 100 level. Meanwhile, RSI indicators are in the 47-point range and is leaning towards the negative. Selling interest are now below 1.1190 and this could make the currency pair go even lower at 1.1120 during the next trading sessions.

Fundamental Analysis for GBP/USD: September 30, 2016

    The GBP/USD pair continued to sway between 1.2950 and 1.3050 with no definite direction. This indefinite stance of the GBP/USD was mainly caused by an expected break on both sides by traders but has not since occurred. However, the value of the currency seemed to be controlled by EUR/GBP cash flows than any other fundamental factors.

    The issues surrounding Deutsche Bank also added uncertainties to the GBP/USD pair’s stance. Deutsche Bank’s recent issues caused stock markets to have a risk-off sentiment and caused the S&P and other technical indexes to drop in value. Moreover, this has caused the pound to decrease its support levels at 1.2950 during the last trading session. Traders should take extra precautions as this might cause major shifts in the financial market and may also cause the USD to increase its value in general.

    Speculators are expecting added volatility to the market due to the London fix, as well as a major news announcement from the UK government which is scheduled to be released today.

Technical Analysis for EUR/USD: September 30, 2016

The EUR decreased its value after Germany’s Unemployment Change report turned out to be far weaker than what traders and investors had expected. Meanwhile, the USD strengthened slightly after hints that the Fed might possibly implement an interest rate hike before the year ends.

The EUR/USD pair meanwhile had its support levels at 1.1200 points and had a lackluster performance during Thursday’s trading session. The currency pair’s price levels remained inactive at the 1.1200 - 1.1230 during the London trading session. The 50, 100, and 200 moving averages remained on neutral territory, with resistance levels at 1.1250 and support levels currently at 1.1200.

The MACD is currently at the center of the range. If the MACD returns to negative territory, then this will signal a strengthening of sellers, while a move into the positive territory is an indicator of a possible takeover of buyers in the financial market. The currency pair’s RSI levels remain at the neutral range.

Should sellers be able to force down pricing levels below the 1.1200 range, then the currency value of the EUR/USD is expected to go up at 1.1150. However, it is also highly possible that this would even go as far as the 1.1250 trading range.

Fundamental Analysis for USD/CAD: October 3, 2016

    The USD/CAD pair continued to trade within the broad range but market players are expecting the currency pair to be on the bullish side. The USD/CAD has proved to be one of the most volatile currency pairs with its 2-way movement but still in the wider trading range between 1.3050 and 1.3280. The release of the retail sales data last Friday turned out to be bad for the market, causing the CAD to decrease earlier this week. However, the bullish stance of the pair was still not able to break through the 1.3280 trading range.

    The CAD then bounced back after the release of the OPEC statement, where oil producers have agreed to cut down oil production in order to increase oil prices. The currency pair then decreased in value. But Canada’s GDP data came out way above the expectations of investors, increasing the USD/CAD’s value but not enough to break through the bottom range, therefore settling within the neutral territory.

    For this week, investors are awaiting the release of the Canadian employment report as well as the NFP report which is both slated to come out this Friday. Market players are expecting increased volatility once the mentioned economic data are released, together with the strengthening of the US economy due to an impending rate hike and the weakening of the Canadian economy due to the OPEC report.

Technical Analysis for USD/JPY: October 4, 2016

    The USD/JPY pair surged to attain its two-week high of 102.27 points as a result of positive risk appetite after easing Deutsche Bank issues and OPEC oil statements increased the possibility of an interest rate hike in December.

    Meanwhile, the Japanese yen is still in the bottom rung of its trading range for the sixth straight session, its longest bottom-trend streak since March. The currency pair bottomed out at the 100.08 range last week after an increase in oil prices market risk-ons, as well as easing in Deutsche Bank concerns.

    Moreover, the Japanese yen is most likely to increase its selling power in the Asian session today after foreign QE talks by the Bank of Japan is seen to be gaining momentum. The currency pair is now dependent at the wider market sentiment. The market will now be focusing on the shares of banking firm Deutsche Bank, which has previously ended Monday’s trading session with marginal losses.

    If the USD/JPY pair manages to break above the 102.65 trading range, then this would expose the pair to the 102.78 range and go beyond an expected hurdle at 103.54 points. However, if the pair would go below its support levels of 102.00, then this could trigger a movement towards 101.57 points, which would then lead to lows at 101.00 points.

EUR/USD Technical Analysis: October 4, 2016

The EUR/USD pair hit all-new lows after succumbing to pressure during the New York trading session as the US dollar received a boost from positive US economic data. The EUR/USD pair was able to break through its range from the past session and was able to approach the 1.12 trading range but also managed to have support just a few pips beyond the psychological level.

September saw the ISM Manufacturing Index increase by up to 51.5 points from August’s 49.4 points. The ISM index also went into the contraction range for the first time since February and went above the expected 50.3 range. Market sentiment surrounding the Deutsche Bank issue also somewhat stabilized during Monday’s session even as the German market was closed due to a holiday. European indices also increased due to an upsurge in oil prices.

Technical support levels, particularly immediate support levels, are seen at 1.1183 points in the 100-day SMA, 1.1160 in the 200-day SMA, and 1.1122 points at the September and August lows. Resistance levels are at 1.1250 points for the September highs, 1.1283 points for the September 15 high, 1.1326 for the September 8 high, and 1.1365 for the August trading high.

Fundamental Analysis for USD/CAD: October 5, 2016

    The recent increase in value of the USD has caused certain currency pairs like the USD/CAD to move forward with their bullish runs, a move that has long since been anticipated for the currency pair during the past week. The USD/CAD pair was able to push through its resistance levels at 1.3140 points, even going beyond 1.3170 where it was met with marginal resistance and went with support levels after a gain of 1.3140 points.

    The Canadian and US trading sessions saw the USD increase its value by a significant margin and has caused the USD/CAD to go through the 1.3200 trading range, and market players are expecting that the pair will be able to reach its short-term targets at 1.3240 and 1.3280 with relative ease in just a few days. The currency pair is now at the support level of 1.3173 but is still expected to go above its present trading range.

    Market players are now awaiting the release of the Canadian trade balance data and the ADP Non-Farm Employment data from the US. These economic data should give traders an idea of the relative strength of the two economies, as well as the possible impact of lowered oil prices on both countries. This could then lead to an increased volatility towards the end of the next trading session.

USD/CAD Technical Analysis: October 6, 2016

    The CAD increased its trading value following the release of the US crude oil inventories data this week, which portrayed a drop of 3 million barrels. The drop in the weekly data for stocks was unexpected since forecasts showed a significant increase after consecutive drops in the data. The CAD has been previously on the lower rung during the first few hours of the trading session after the data released showed a decrease in trade deficits from August’s $1.47 billion.

    Meanwhile, the Bank of Canada is not yet expected to cut back on its interest rates in spite of the ambiguities portrayed in the recent trade data. This is because the BoC is still awaiting the fiscal stimulus data from the Canadian government and will keep the CAD from further appreciation by using dovish stances. Non-resource exports were not able to increase and the direction of oil prices are still uncertain after the OPEC’s cuts in its production will still be subjected to another review in another meeting in Vienna.

    The USD/CAD pair decreased by up to 0.267 points during the last trading session. The currency pair is presently trading at 1.3166 points following an increase in oil prices. The CAD initially traded over the 1.32 price levels prior to the release of the crude stocks data but eventually plummeted to 1.3166.