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USD/CAD Technical Analysis: April 7, 2017

The USD/CAD have retained an upbeat sentiment on Thursday and spent the day in the late trades of Europe near its session highs.
The price weakened a little bit prior to the opening of New York hour. The spot continued its development over the moving averages as specified in the 4-hour chart. Moreover, the 200 and 50-EMAs kept pushing upwards while 100-EMA ascended lower.
Resistance approach 1.3470 level, support is at 1.3400 mark.
MACD histogram increased confirming strength for the buyers. RSI indicator drives closer to the overvalued readings.
The next target of the pair in the near-term is found at 1.3470 region following the pair lifted through 1.3540.
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GBP/USD Technical Analysis: April 7, 2017

The national currency of Britain remained neutral in the morning. The GBP/USD stayed within its fresh highs during the night. The major was selling aggressively during the first part of the day as the price declined near 1.2460 level.
Having renewed its sessions lows the spot cool down. Meanwhile, the British pound was unable to resume its advancement and turned back in the mark amid late session of Europe.
A renewed selling pressure emerged prior the onset of New York hours. The major lost its strength as it moves towards the region 1.2420.
The spot kept intact around the 50-EMA while 100-EMA trailed lower determined in the 4-hour chart. Furthermore, the 50 and 200-EMA came in neutral.
Resistance is found at 1.2500 mark, support entered 1.2400 region.
The MACD histogram lies at the centerline. On one side, the indicator entered the positive grounds, it will show increasing strength of the buyers and on the other hand, a return to the negative territory would let the sellers be in the driver’s seat. RSI alighted neutral.
The bullishness remain unless we witness a break on top of 1.2450 range. Buyers struggled to regain 1.2500 in the next sessions. Otherwise, the 1.2400 area is considered the next intraday support and probably a bearish objective.
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EUR/USD Fundamental Analysis: April 7, 2017

The EUR/USD pair traded in a somewhat subdued manner in spite of the market reeling from US attacks on an airbase in Syria as retaliation Assad’s chemical attacks on the same region just a few days ago, igniting the risk quotient by up to several levels in the morning. The currency pair continues to trade within its range although it is currently situated within its range lows as the safety flights helped the USD remain under its current bid.
Meanwhile, as a result of this flight to safety both gold and JPY have tremendously increased in value and the stock market is most likely to get hit once the NY and London session opens later in the day. There was not much activity in the market yesterday, with the EUR/USD consolidating within its trading range as it waited for the release of the NFP report set today, with the said report expected to come out as positive due to the strong ADP employment report which was released last Wednesday. It is now worth seeing what the reaction of the EUR/USD pair will be once the NFP report comes out, its results notwithstanding. Either way, the US dollar is expected to either become subdued or completely drop in value, which means that the downside effect of this news on the EUR/USD pair would be small-scale unless the NFP report comes out as very positive.
The release of the US NFP report is likely to be the most dominant trend in the market for today. Although there are no releases coming from the EU economy for today, the US attacks on Syria is still affecting the market as of late, and this will maintain pressure on the EUR/USD pair and put the market in an off-risk mode.
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GBP/USD Fundamental Analysis: April 7, 2017

The GBP/USD pair continues to trade within the 1.2400-1.2500 region, which is the pair’s current trend for the past few days. Since there are still several concerns and uncertainties surrounding the Brexit process, both of the pair’s bulls and bears are not expected to have any strength to push the currency pair in any definite direction as of now unless some kind of fundamental factor compels the GBP/USD pair in a certain direction, with this said factor having to come from either of the two currencies.
Now that the US dollar is expected to manage on its own at least in the coming few days, the Trump administration is now finding remedies to their policy paralysis while the pound is expected to move in the coming days as the Brexit negotiations start, with the negotiations offering more clarity on what each side will be banking on in the near future. It has also been somewhat difficult to create an actual opinion with regards to the repercussions of the Brexit process on the British economy due to a pronounced ambiguity in recent UK economic data. It is therefore advisable to wait out until everything subsides before making a move on this currency pair. In addition, the US attacks on Syria has increased worldwide risk as this could possibly lead to more conflicts in the country. This had virtually no effect whatsoever on the GBP/USD pair although it has increased the dollar’s value. The repercussions of this event will be fully seen once the London session commences, although its range lows are expected to hold at 1.2400 points.
The UK Manufacturing Production data will be released today, and BoE governor Carney will also be making a speech today, where he is expected to maintain the nation’s economic strength. But what the market is currently waiting for is the release of the NFP report which is expected to come in strongly since the ADP report also came out as highly positive. If the NFP report indeed comes out as expected, then the 1.2400 range could be tested by the GBP/USD pair.
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AUD/USD Technical Analysis: April 7, 2017

The Australian dollar against the U.S. dollar maintained its position lower than the major downtrend line from 0.7679 level. If the market will be able to sustain the current trend, the decline is anticipated to continue towards the next target at 0.7500 level. The major resistance is found at 0.7590 level and a break higher than this level indicates completion of the downtrend.
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EUR/GBP Technical Analysis: April 7, 2017

The Euro paired against the British pound gives off a choppy atmosphere after a neutral candle was seen during Thursday session. There is a significant support seen at 0.85 level and it seems that the price will continue to move sideways in the short-term. The 100-Exponential Moving Average hovered above the resistance level. Although, it cannot be determined yet which way would the pair go in the current condition. Moreover, the ongoing progress of Brexit as the headline though the market put the pair at risk.
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EUR/USD Technical Analysis: April 7, 2017

The single European currency strengthened after the release of Fed minutes soft data, however, the positive bias seems limited due to the failing figures of German Factory Orders. ECB President, Draghi stated that the regulator does not have plans to revise its current monetary policy as the central bank plans to maintain its interest rates low alongside the bond purchases.
The spot sustained a neutral-to-bearish stance throughout the day.
Bears strive to plunge into 1.0650 during the first part of the day but the action failed. The euro was sent back to the familiar range after a false break.
The EUR/USD have seen testing the 200-EMA while the 50-EMA crossed downwards the 100-EMA defined in the 4-hour chart. Furthermore, the 200-EMA turned neutral, 100-EMA accelerated higher and the 50-EMA trailed lower.
Resistance touched 1.0700, support entered 1.0650.
The MACD histogram lost strength indicating a sell signal. The RSI oscillator headed downwards.
Inability to maintain a position over 1.0650 would weaken for attack the mark 1.0600.
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GBP/JPY Technical Analysis: April 7, 2017

The British pound against the Japanese yen declined at the beginning of the trading session. This was reversed after a supportive candle pattern was formed. Although, overall the pair maintains its downtrend position and will most likely be sold for short-term orders. A massive resistance is found close to the 140 handle which cannot be surpassed yet soon where it may reverse in the future but not in the current condition. For now, traders could look for selling opportunities for the pair.
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NZD/USD Technical Analysis: April 7, 2017

The New Zealand dollar surged following a break higher than the peak of the hammer during the Thursday session. A strong resistance level is found at 0.70 handle. It is anticipated for the pair to have a volatility and it could increase towards the 0.71 handle when the jobs data comes out and break higher than 0.70 mark. There could also be reversals and the support level to position close to the 0.69 handle. Nevertheless, traders should expect volatility for today’s trading session.
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USD/CAD Fundamental Analysis: April 7, 2017

The USD/CAD pair has managed to surpass the 1.3400 barrier during yesterday’s session and was able to keep itself afloat during the past 24 hours. However, it has since deflated and has now reverted towards 1.3400 points. The pair is not expected to make much headway as it is still having troubles with the very strong resistance region of 1.3500 points.
The USD/CAD pair has been affected by a surge in oil prices, as well as news of a US-propelled airstrike on Syria as retaliation to the recent chemical attacks from Assad. This is expected to increase the tension between the two nations, and this, including tensions between US and Russia, will most likely lead to a complete deterioration of the US-Russia relationship anytime soon. On the other hand, the market is still at a loss on whether this piece of news is actually good or bad for the US dollar. The recent flight to safety should have caused the USD to increase under normal circumstances, but since the USD itself was included in the data, this has led to ambiguities in the value of the dollar. The USD/CAD pair has since then retreated to 1.3400 points as the Canadian dollar recovered its losses on the back of strong oil prices which is currently at $53. The repercussions brought about by the airstrike on Syria is expected to be felt once the London session opens, and as such, the USD/CAD will possibly remain under downward pressure.
The US will be releasing its NFP report, while the Canadian economy will be releasing its employment data later today. The NFP report is expected to meet market expectations but there are still no clues on how the Canadian employment report would pan out. If the employment report comes out as impressive, then the USD/CAD could revert to its ranging activity within 1.3300-1.3400 points.
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EUR/USD Technical Analysis: April 11, 2017

The single European Currency did not react to the strong release of Investor Confidence by Sentix. The euro was kept intact below the pressured area despite the broad recovery of the US dollar. While investors look forward to the speech of Janet Yellen later this day. The German Economic Sentiment is the main focus on Tuesday.
The EUR/USD spent the day below the pressured region on Monday. The EUR continued to lose some grounds over the night posting on its session lows near 1.0570 level. The major stalled its forward movement and slightly recovered afterward.
As specified in the 4-hour chart, the spot extended its development down from the moving averages along with the 100 and 50-EMAs lead downwards while the 200-EMA showed neutral position.
Resistance touched 1.0600 mark, support is seen at 1.0550 area.
MACD histogram softened indicating a sell signal. RSI oscillator started a consolidation around the negative territory.
A price fallback is projected within the market in the short-term. In case 1.0600 breakout, the next objective is 1.0625. The pair will probably target under 1.0600 which is close to support 1.0550.
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EUR/USD Fundamental Analysis: April 11, 2017

The EUR/USD pair did not exhibit much trading action during yesterday’s session. Just like last week, the currency pair is still trapped within a very limited trading with almost no activity on both sides. During the course of yesterday there have been no significant fundamental drivers which could cause the EUR/USD pair to move in both directions, which caused the currency pair to be trapped within this particular range.
The slew of economic events and news released last week did little to trigger the pair to move the currency pair. The EUR/USD pair broke down its range lows and dropped at 1.0600 points and has since then traded below this range and has been unable to break through this range. The currency pair has been looking very dismal ever since this month started although this more due to its wide range of 1.0500-1.0900 instead of any fundamental factors. The pair could possibly reach 1.0500 in the short-term period.
There are no major releases from both the EU economy and the US economy today, and the EUR/USD is expected to consolidate for the duration of today’s session with bearish undertones. This tight ranging could possibly continue until the pair reaches its range lows at 1.0500 points.
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GBP/USD Technical Analysis: April 11, 2017

The Great Britain pound was able to recover few of its Monday losses and further take a step away from its two-week lows. The market awaits for the speech of Fed Chair, Janet Yellen scheduled later. Meanwhile, figures for March inflation are expected to release tomorrow which would draw everyone’s attention.
The British currency preserved its ask tone amid Asian hours yesterday but its extension was limited close to the mark 1.2360.The spot has rebounded and directed upwards. The positive mood was retained during the first part of the day.
Moreover, the GBPUSD tested the region 1.2400 in the late session of Europe, however it failed to regain the level. The pair stayed in its place until the open of New York trades.
Set out in the 4-hour chart, the cable tested the 200-day moving averages and jump higher while 50-EMA crossed downwards the 100-EMA. Shown in the same timeframe, the 100 and 200-EMAs turned out neutral while 50-EMA pushed downwards.
The MACD histogram kept its position confirming sellers’ strength. The RSI indicator was placed in the undervalued zone.
In the upside, the resistance 1.2400 were retested by the support prior the price rally to 1.2500 range.
A fresh bearish pressure is expected in the near-term. The profit target is going to be the 1.2300 mark.
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GBP/USD Fundamental Analysis: April 11, 2017

The GBP/USD pair has managed to make a slight recovery during the previous trading session as the USD strength wavered slightly and is now trading at just over 1.2400 points. The strength of this currency pair is not expected to translate into a bullish stance since the pair could possibly persist with its ranging and consolidation action on both sides of 1.2400 points. The market has been very slow during yesterday’s session and this is expected to seep through up to today’s session, especially since the majority of traders are now in a stop and stare mode as they do not have any kind of significant trade bases as of the moment.
The uncertainties surrounding the Syrian war has somewhat died down since there are no recent updates with regards to the ongoing war in the region. However, there’s no denying that these problems continue to exist and this is why traders are still afraid to direct their trades into any direction lest they be caught once the pair reverses its price action due sudden events such as the US airstrike on Syria last week. The GBP/USD pair is now caught within the range of 1.2100-1.2600 and does not look poised to move in any direction now that the Brexit negotiations are about to begin. The start of the negotiations are not expected to induce significant volatility since both sides are expected to hold their own. This is also the reason why traders are refusing to take specific trade directions for the moment.
For today’s session, the UK CPI data is scheduled to be released while there are no major releases from the US economy. The GBP/USD pair is expected to stay put no matter how the CPI data pans out within the day.
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NZD/USD Technical Analysis: April 11, 2017

The NZDUSD showed some moderate weakness during the night trades and reached approximately the 0.6900 level. The spot halted close to 0.6920 region reversing its current direction.
The price lifted and touched 0.6950 during the late trades of Europe. The commodity-linked pair kept unchanged sitting around its session lows prior the onset of New York hours.
As determined by the 4-hour chart, the price is confined down from the moving averages which conducted a lower trend.
Resistance is seen at 0.6950, support entered 0.6900.
The MACD histogram narrowed down providing strength for the sellers. RSI oscillator en route upwards.
A daily close over the region 0.6950 is expected to risk the area 0.7000. The price met a stable support within 0.6900 loss which caused weakness towards the 0.6850 range.
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AUD/USD Technical Analysis: April 11, 2017

The Australian dollar declined extending major losses on the last days last week as it broke lower than the support level at 0.7550 as shown in the 200-SMA with 38.2% Fibonacci Retracement level at 0.7523 towards 0.7512 in 100-SMA. It breaks for short-term support at 0.7489 level completing the decline from 0.7489 or 0.7749. It has reached a new low at 0.7475 which has been the lowest level since Jan 17 and is anticipated to consolidate in those levels.
The initial Resistance level came in at 0.7512 then 0.7526 to 0.7550 and lastly 0.7576 levels while the Support level positions at 0.7489 then 0.7475 down to 0.7449 and lastly 0.7400 level.
Overall, the tone gives off bearish stance near the 0.7489 pivot level where it opens for the next key support at 0.7449. Moreover, the pair could extend its consolidation higher than the fresh low at 0.7475 that is far from the initial level seen at 100-SMA but not strong enough to surpass the next barrier shown in 200-SMA. If it breaks in those barriers then this would indicate a bullish tone and decline in the sidelines that needs to be monitored.
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USD/JPY Technical Analysis: April 11, 2017

The U.S. dollar against the Japanese yen surged on Monday session that brings profit to trades. Although, currently the market is in consolidation state which will most likely continue with the trading range between 112.00 as the resistance level and 110 as the support area. The pair is very sensitive to risks and investors in the stock market should keep an eye on the trend.
The greenback appreciated after the U.S. airstrike in Syria. The balance sheet reduction news and Japanese trade balance influenced the currency and at the same time limits the surge of U.S. dollar.
It tried to continue its buying momentum higher than the 111.50 mark yesterday but failed. It shifted its course after posting a higher range level at 111.54 mark. Although, the price was seen to ease come night session as it moves toward the 111.00 level.
The pair was seen to rebound in the 50-EMA and sustained the 100-EMA in the 4 hours chart. On the other hand, both 100 and 200-EMAs continued to go lower while the 50-EMA remained neutral. The MACD showed the pair to enter the positive area and if this is sustained, it indicates strong lead of buyers. The RSI indicator has lost its momentum when it is directed downwards. The next bearish target would be at 110.00 mark and a rebound higher than the 111.50 mark implying its lost in dominance while a break more than the 111.50 level opening the chance for the pair to move further towards 112.00 mark.
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EUR/USD Technical Analysis: April 12, 2017

The single European currency reached the level 1.0600 last Monday and retreated slightly during the night. The major was able to gather strength in the night and headed upwards amid the onset of the European hours. Therefore, buyers turned the price back towards 1.0600 mark and recover its night losses.
The EUR/USD gapped through the level in the middle session of Europe. The pair spent the day under the moving averages as shown in the 4-hour chart. The resistance lies at 1.0650 mark, support is at 1.0600 area.
The MACD histogram increased indicating a weak position of the sellers. The RSI indicator holds close to the oversold readings, confirming a higher trend.
In case that a recovery occurred on top of the 1.0600 range, there is a likelihood for an upward move till 1.0650.
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GBP/USD Technical Analysis: April 12, 2017

Britain’s national currency manifested a positive day on Tuesday. The major resumed a buying sentiment in the first part of the day following a neutral night.
The Cable leaves the 1.2400 region and trailed northbound before the outset of London trades. Moreover, buyers touched the level 1.2450 in the noon, buy they are unable to move farther the area.
The spot remains in the middle of 200 and 50-EMAs as presented in the 4-hour chart. Resistance approached the 1.2500 mark, support plunge into the 1.2400 region.
The MACD histogram gained strength and signaled weak position of the sellers. The RSI indicator also weakened and drove lower.
The recovery showed a continuous progress. Furthermore, bulls fixate on the resistance level 1.2500.
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