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CAD/CHF Review and Forecast
Starting from January, an upward trend was formed in favor of the CAD, which became possible due to the recovery of oil prices. After reaching many-years lows, oil recovered and solidly entrenched in the range of 50-55 dollars per barrel of CL/WTI. This became possible after the emergence of the political crisis in Venezuela, which was on the verge of a coup.
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Attachment 34325
Trump's State of the Union
This week we caught a glimpse as to what is in store for American politics when President Trump gave his annual State of the Union address. Postponed by about a week due to the government shutdown, the State of the Union is seen as a golden opportunity for the President of the United States to set the political agenda for the whole year ahead. We decided to present you with a few highlights from the event and see what we can expect from a President who has repeatedly proven difficult to predict the actions of.
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EUR/USD Technical analysis
Today we would take a look at the EUR/USD currency pair. The pair has been in a steep decline all through February so far.
The economic situation in Europe continues to be suboptimal. Recent fundamentals provided proof for the ongoing economic slowdown in Europe, showing that the poor global situation is also affected the eurozone.
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Attachment 34404
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EUR/USD Technical analysis
On the daily chart we observe that the pair has declined for six days in a row and the dollar index reached its maximum annual values, rising above the level of 96.80.
A meeting of EU finance ministers will be held today, where future plans will be discussed. In part, the single currency rate is also affected by the Brexit negotiation status.
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Attachment 34414
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CAD/JPY: Fundamental Review & Forecast
Starting from January we have observed the rates within the upward trend. The Canadian dollar received the necessary support by rising oil prices and reducing the risks associated with the trade conflict between the US and Canada. At the same time, the economy remains at the optimal level, although it is not in the stage of active growth.
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Attachment 34417
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EUR/USD Technical analysis
During yesterday's rally, the dollar appreciation resumed and the pair started a downward movement again. The dollar index again approached 97.00 showing the strength of the reserve currency.
The euro, on the contrary, is trying to reduce the ECB’s efforts and the pair continues to approach four-month lows.
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Attachment 34427
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USD/SEK: Fundamental Review & Forecast
The rates continue within the upward trend formed in early 2018. A month earlier we saw signs of a trend change, but this did not happen. Quotes again rushed up in favor of the USD. The increase in the interest rate by the Central Bank of Sweden and the fairly hawkish attitude, amid the central banks of other countries, including the United States, soften monetary policy and did not change the situation.
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Attachment 34478
GBP/USD Technical analysis
Against the background of investors' optimism, our pair was able to turn around five days ago and head up from the level of 1.2785. Yesterday Prime Minister Theresa May arrived in Brussels to continue negotiations and the pair halted growth in fear of a failure.
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OIl (Cl/WTI): Fundamental Review & Forecast
The rates continue within the upward trend, but the intensity of the trend is falling rapidly. In February oil was strengthened by increasing the probability of a solution to the trade conflict between China and the United States and a truce between these countries, but as time goes by investors are not receiving any concrete evidence of progress in the trade negotiations. In addition, oil prices are limited in growth due to forecasts of a slowdown in the global economy.
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Attachment 34661
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EUR/USD Technical Analysis
Today we will be able to observe either the continuation of the dollar rally for the seventh day in a row, or a reversal and correction. During yesterday's trading session the dollar index remained almost unchanged, while US stock markets declined due to fears of a slowdown in global growth rates.
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Attachment 34681
Triple Brexit Vote Incoming
This week was definitely not lacking in economic news. Donald Trump’s administration continues to be hard at work negotiating a trade agreement with China which is expected to end the trade war, an event likely to impact positively the entire world. Moreover, the European Central Bank had an important policy meeting this week, where new cheap loans for European banks were announced and the economic forecast was revised down.
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EUR/USD Technical Analysis
Today we would take a look at the EUR/USD currency pair. The euro kept decreasing all throughout last week, but today it opened in the green.
The European single currency is widely expected to continue weakening. Last week the European Central Bank announced a new set of dovish measures to support the economy in the form of cheap bank loans, which are supposed to encourage spending and help inflation rise. Additionally, the ECB President Mario Draghi stated that the ECB’s previous forecast of possible rate hikes in the middle of 2019 no longer applies and likely there will not be a hawkish turn in their stance this year at all. The fundamental reports coming in today are somewhat disappointing, so we don’t see the EUR strengthening this week at all.
Meanwhile, the American dollar continues to benefit from its position as a safety asset. The Federal Reserve is taking a cautious course this year and has refrained from hiking interest rates any further, finding the American economy to be near its perfect balance. However, with global uncertainty and a still not finalized trade deal between the United States and China, investors still prefer to back the dollar as a strong investment tool, which contributes to its rising price.
In terms of the daily chart, today we have a pivot point for the pair located at 1.1235, with the price currently trading slightly above it. The daily support levels lie at 1.1227 and 1.1222. The daily resistances are located at 1.1240 and 1.1248. The indicators of technical analysis and the moving averages agree on a strong sell recommendation.
https://superforex.com/analytics/tec...1526/?x=FORUMS
GBP/USD Technical Analysis
Hope for a calm Brexit supported the British pound and the pair demonstrated a strong upward momentum during yesterday's trading session.
The dollar index, on the contrary, during yesterday's trading session fell below the 97.00 level.
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CAD/CHF Fundamental Review & Forecast
The rates continue within the downward trend formed more than a year ago. At the same time, we see a gradual decrease in volatility and a narrowing of the range. Despite the rise in oil prices, as well as the economic downturn in the EU, the Swiss franc in the long term was more stable and less exposed to negative factors, confirming its status of a safe asset.
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Attachment 34768
Technical analysis of the GBP/USD pair for March 14
During yesterday's trading session the British pound once again showed a positive trend. After the Brexit vote, we again saw a strong upward momentum in the pair, and it is quite possible that the pair may soon head for the 1.35 mark.
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EUR/USD Technical Analysis
Today we would take a look at the EUR/USD currency pair. As of last week the pair continues steadily growing.
Not much has changed for the European single currency since our last analysis. Fundamental reports, while not altogether awful, remain off-target for the most part and inflation continues to be low. The European Central Bank recently unveiled a new stimulus plan which is naturally contributing to a further weakness in the euro.
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Attachment 34812
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Technical Analysis of the EUR/USD Pair for March 19
All investors' attention this week is focused on the Fed's interest rate decision tomorrow. It is predicted that the decision will be in favor of maintaining the current rate of 2.5%. The dollar index continues to decline and is at a monthly minimum, below the 96.00 mark.
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Attachment 34825
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EUR/AUD: Fundamental Review & Forecast
The EUR/AUD is one of the lowest volatile pairs to date. The rates have been in a strictly defined, flat range since January this year. However, as of February, we have seen a gradual upward shift and the formation of an uptrend.
Macroeconomic statistics and a number of negative factors preventing the strengthening of the AUD also support the formation of an uptrend.
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Attachment 34848
Technical analysis of the EUR / USD pair for March 21
After yesterday's Federal Reserve decision on the interest rate, we observed a large rising candle to the level of 1.1445. After that, the pair went into a correction when the bulls decided to take profits. The pair overcame several resistance levels at once and has now returned to the level of 1.1410.
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Brexit Officially Postponed
When in 2016 the United Kingdom’s citizens were invited to cast their votes in a referendum as to whether they want to stay or leave the European Union, the Brexiteers prevailed by a narrow margin. Since then the conservative government led by Theresa May has championed that her cabinet deliver on that promise, one way or another. She formally triggered Article 50, which set the deadline for Brexit to March 29, 2019. However, with one week until Brexit it is now official: the exit of the UK has been delayed.
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EUR/USD Technical Analysis
Today we would take a look at the EUR/USD currency pair. The pair spent most of last week growing, but declined over the weekend.
The situation with the European single currency is more or less the same. The European Central Bank continues with their dovishness and inflation is still far off the target levels which would allow the euro to strengthen.
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https://superforex.com/analytics/tec...-1573/X=FORUMS
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Technical analysis on the USD/CAD pair for March, 26
Now we are seeing on the chart that the pair has developed from the previously reached peaks and is directed downwards. The rise in oil prices helps the Canadian dollar, so the pair confidently approached our Moving Averages and soon may be fixed below the MA (21), indicating a sale.
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NZD/JPY: Fundamental Review & Forecast
The rates continue within a downward trend. Since January we have observed an increase in the demand for risky assets. Also, the probability of a successful end to the trade conflict between the US and China grew, and this has the potential to stop the slowdown in the global economy. But until this happens, the trade conflict remains and the perspectives for its completion are not defined. All factors affecting this currency pair are outside of New Zealand and Japan, although the economies of both countries are also important.
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Attachment 34949
Technical Analysis of the EUR/USD Pair for March 28
If yesterday the euro was still able to win back some of its positions against the pound, then it could not do it against the dollar and the Swiss franc. Unlike the single currency, the US dollar was able to strengthen against the basket of major currencies and the dollar index showed a moderate increase.
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https://superforex.com/analytics/tec...1642/?x=FORUMS
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What is new in the markets March 29
US GDP growth slowed down
Yesterday a report on US GDP growth was released, which demonstrated a slowdown in the economy and the growth was only 2.2% against 2.4% of the forecasted. The Donald Trump administration said it was ready to negotiate with China over a long period in order to make the Chinese market more open, as well as to respect intellectual property rights. Negotiations began yesterday in Beijing, and their next round will continue today. Next week, we expect to arrive in Washington Chinese Prime Minister Liu Hye Who will meet with sales representatives and Donald Trump.
Next week, we expect Chinese bonds to be included in reference global indices for the first time, which will make the Chinese market even more open to foreign investment and borrowing.
After yesterday's recession, oil quotes today began to recover and scored more than 1% each against the background of the completion of Iran’s temporary exclusion from US sanctions.