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  #286  
Old 05-22-2017, 03:32 AM
AppleFX AppleFX is offline
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Default Re: Economic and company news by ForexMart

GBP/USD Technical Analysis: May 22, 2017

During the Friday session, the pair GBPUSD remarkably did well since an extreme and rapid price decline occurred on Thursday. While an uptrend is tested, however, a turnaround was carried out promptly.

As the traders calm down, the market eventually break out in the upside hitting the top of the 1.30 region. In the previous trades, a renewed highs were formed and the Britain’s currency would likely look forward through the 1.3450 area that has consolidated in the longer term.

A break on top of the range 1.30 seems significant and the flash crash happened on Thursday still not clear which brought fears to many people. Moreover, the uptrend line amid that sudden drop matters a lot and it appears that the 1.29 mark can be the acting basement of this market.

The choppiness was still expected to continue but the market may indicate a bullish attitude.

The pullback eyes some support within the level 1.30 but a breakout towards a fresh peak would trigger a buying behavior.

The GBP attempted to change its general trend in the upside which could go a long way throughout establishing trend confidence.1

In addition, the uptrend will continue since the moving averages drove to the upside and selling is not an option at all. While a move forward would pave the way for the “buy on the dips”.
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  #287  
Old 05-23-2017, 02:13 AM
AppleFX AppleFX is offline
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Default Re: Economic and company news by ForexMart

EUR/USD Technical Analysis: May 23, 2017

The EURUSD resumed to drove upwards as the ECB members have different opinions which could change the tightening bias in contrast to the neutral bias.

Meanwhile, European yields surge rapidly relative to the United States, witnessed to struggle to move upwards after it resulted in a soft economic data, figures that are lower than the expected.

The 10-year yield of Germany has 37 basis points which seem difficult to draw near the U.S which is 2.25%.

The pair trailed higher, continued its uptrend and reached 1.1263 range, moving towards the resistance at 1.1299 near its November peaks. In case, this level was broken, it will test 1.1365 region close to its August highs in 2016. While the support is found at 1.1033 mark which is around the 10-day moving average

As reflected in the moving average convergence divergence (MACD), the momentum is positive. The histogram printed in the black, en route upwards which indicates that the pair has an accelerating positive trajectory.

The relative strength index or RSI is known to be a momentum oscillator that assesses the movement of the momentum together with oversold and overbought levels, is pushing higher and break out eventually. However, the elevated area of the RSI has an issue because it was positioned on top of the overbought trigger zone of 70. It also happened last year in the same month that causes the exchange rate to move ahead and plummeted 12 significant figures.
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  #288  
Old 05-23-2017, 03:45 AM
AppleFX AppleFX is offline
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Default Re: Economic and company news by ForexMart

GBP/USD Fundamental Analysis: May 23, 2017

The GBP/USD pair has still refused to join the tumult caused by other major currencies rallying against the greenback. In addition, the market was wrecked by news of a bombing at Manchester, which killed a total of 19 people and has injured over 50 people in its wake, in what has been confirmed as an all-out terrorist attack. Although the reaction of the sterling pound to this particular news has been somewhat muted, it has certainly caused the GBP/USD pair to drop in value, wherein it is not expected to become bullish since the Manchester bombings has made headlines today.

The GBP/USD pair started off yesterday’s session a weak note following reports that the UK government might cancel the Brexit negotiations if the EU officials would implement a lot of harsh conditions. These developments are all expected to maintain the downward pressure on the cable pair as the UK economy enters a very critical period next month due to the oncoming snap elections and the Brexit talks immediately after the elections. However, the cable pair did manage to make a slight recovery during the European session, with the pair reverting to 1.3000 and even managed to test 1.3030 points before being met with a lot of selling and correcting towards 1.3000 points following the news of the bombings. The GBP/USD pair is then expected to remain under downward pressure for the duration of today’s sessions.

For today, there are no major releases coming from the UK economy, while a couple of Fed officials will be making speaking engagements later in the day. Since the recent bombings at Manchester would most likely dominate the international headlines, the GBP/USD pair is expected to remain safely consolidating on both sides of 1.3000 points with bearish undertones.
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  #289  
Old 05-23-2017, 04:06 AM
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AUD/USD Technical Analysis: May 23, 2017

The Australian dollar had a very active session on Monday and broke in the lower channel. It continued the downtrend and fill the gap and reversed after reaching the 0.7425 region and rallied uphill. As the sellers come back, there is a few pullback until enough volume and momentum are seen to break higher than the said level.

The currency is very sensitive to the gold market and it follows its movement over the long-term. However, pullbacks may offer some value as it reaches near the 0.7450 level which has been resistive for some time before. If the market breaks higher than the 0.75 handle, the trend would climb higher towards the 0.80 level although this may take some time.

On the other hand, if the gold market declines, then the next target region would be at 0.74 and below. Breaking this level could go even lower towards the 0.7350. As mentioned, the currency is highly sensitive to the market appetite for risks and traders should look out for it as other assets gains globally and Aussie is anticipated to follow.

There will be high volatility in the market while some traders avoid the U.S. dollar for short-term which would put bullish pressure in the market. Also, traders should anticipate choppiness in the market. A hammer pattern is seen in the weekly charts and is could position at the bottom in the charts.
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  #290  
Old 05-26-2017, 04:09 AM
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Default Re: Economic and company news by ForexMart

May 26, 2017

Trump Calls for Investigation Following Manchester Leaks

US President Donald Trump has already called for an investigation regarding the “Manchester leaks” in order for the US government to determine how top-secret information were able to make their way towards the headlines of news reports, when these sets of information were actually only divulged to the key allies of the British government. Several UK officials have already expressed their dismay and disappointment with regards to this particular matter, among them being UK Prime Minister Theresa May. The bombings in Manchester last Monday night had killed a total of 22 people and has left more than 100 people with injuries. The victims were attending a pop concert before the bombings occurred.
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