Daily Market Analysis by ForexMart

USD/JPY Technical Analysis: November 9, 2016

The Bank of Japan’s Financial Minister has said that the central bank will be reacting to market movements once the US election results come out, especially if the results would cause the JPY to increase in value. The USD/JPY pair traded within the intraweek trading region for the first half of the Tuesday trading session. The market has remarkably sustained its balance in spite of the absence of market movers, especially if the election results would induce an added strength to the Japanese yen.

The USD/JPY pair traded within its intraweek trading range for the first half of the Tuesday trading session, with the market remarkably maintaining its balance in the absence of market movers. The pair is now trading within the 104.30-104.50 due to buyers consolidating their profits. The bulls reverted back to their bids at the 104.50 region prior to the North American session, with the pair steadily approaching 105.00 after managing to break through its level prices. The pair’s pricing has since then moved from the 50, 100, and 200 EMAs in the USD/JPY 4-hour chart. Resistance levels for the pair can be found at 105.00, while support levels are expected to be at 104.50.

If the pair continuously experiences an upward pressure, then the pair is expected to hit resistance levels at 105.00. This could then cause the pair to hit new highs at 105.50.

GBP/USD Technical Analysis: November 9, 2016


The British pound demonstrated a mixed trades as of yesterday. On Tuesday morning, the sterling increased along with the better-than-expected data of the Manufacturing Production while softened in the midday due to a breakthrough of the greenbacks.

Still and all, the pound stayed in the pressured area yesterday as it continually traded in a tight range. The pair further attempted to make a better turn amid the Asian flat. The price made an immediate reversal which started from the 1.2400 level and transferred to the mark of 1.2436 where the bullish spike run-down, hence the GBP marginally curtailed.

The pair had buildup a selling pressure before the opening of the New York session and ploy under the 1.2400 level.

As it was indicated in the 4-hour chart, the price tried to enter the neutral stance of 200-EMA, however, gains are limited. Failure is already expected, sending it to the downside of the market. The 50-EMA crossover the 100-EMA in the same trading chart which both MA run after the neutral lines. Resistance is situated at 1.2400, support is fixed at 1.2300. MACD grew less and indicated weak position for buyers. RSI consolidated around the positive area.

GBP/USD is expected to maintain a negative scope and a close below 1.2400 have the possibility to prompt losses into the 1.2300.

EUR/USD Technical Analysis: November 9, 2016


The EUR/USD bolstered on the back of the U.S Presidential Elections. The pair were able to steer clear on the effects of the decline in the German Factory Orders. Meanwhile, markets preserve its recent position while waiting for the election results.

On the other hand, the hope for strengthening the euro abated due to a weak result of the trade’s daily closing on Tuesday. The pair is placed below the pressured area and continues to trade around its weekly low since yesterday.

Traders attempted to reach an upward momentum amid the post-European open, even a short consolidation appeared in Asian trading session. While the pursuit to reacquire the 1.1050 region were unsuccessful, the price penetrated the said level but retreated downwards once more.

According to in the 4-hour chart. the 200-EMA is found at the 1.1050 resistance level which helped the common currency to struggle for an improvement. Moving averages established a neutral stance in the same hourly chart. Current resistance settled at 1.1050, support lied at 1.1000.

MACD indicator leans at the centerline. When the histogram arrived in the negative zone, it would indicate additional growth for seller’s position. While the positive territory would give buyers a chance to dominate the market. RSI is neutral.

USD/CAD Technical Analysis: November 9, 2011



Even after the recovery of petroleum prices, the loonie had declined while greens further bolster. The neutral points that occurred last week remained intact till now. Yesterday, the price is trading in a tight range in the middle of 1.3360 - 1.3400 levels.

The USD/CAD further decrease as it entered towards the lower range end, at the same time trying to break the 50-EMA lower during the trades on Tuesday.

Moreover, the U.S and Canadian dollar tested the 50-EMA where it encountered a stronger support for the price indicated on the 4-hour chart.

Moving averages keep moving with a bullish trend as it was also specified on the same timeframe. Resistance marked the 1.3400 level, support is located at 1.3300 region. MACD histogram subsided which implied growing strength for the sellers. RSI headed southwards and that affirmed a downward direction.

NZD/USD Technical Analysis: November 9, 2016
The New Zealand dollar is reached lower than the key resistance level at 7380 with merging of the results of the U.S. Presidential Elections and the Reserve Bank of New Zealand (RBNZ) interest rate decision tomorrow. It is actively traded within the said level with a chance for a sudden surface bias with the price low. The Interim support sustains at 7292/95 with strong support at 7214/18 and moved past targets of 7450 and 7430 levels.

AUD/USD Fundamental Analysis: November 9, 2016

Aussie is dropping as market is reacting to the U.S Presidential election and the downhill of major U.S. indices such as Dow Jones Industrial Average futures contract, E-mini S&P 500 index and E-mini NASDAQ-100 futures declined by 3.71%, 4.50% and 4.57% respectively.

The U.S Presidential election is shaking the financial market with Republican candidate Donald Trump leading the match against the Democrat candidate Hilary Clinton.On early Wednesday, there has been a surge in demand for safe haven assets while the risky assets plummeted which is expected because of the election.

If Hilary Clinton wins the election, the pair AUD/USD would recover to highs but this is still fifty-fifty with U.S. having divided sides. Thus, the financial market is disrupted with this election.

USD/CAD Fundamental Analysis: November 9, 2016

Loonies rallied to new highs, reaching higher than 1.3460 resistance level even though Donald Trump has higher chances than Hilary Clinton in the U.S. Presidential election. The next U.S. president could threaten the connection and trading with its northern neighbor that would affect Canadian dollar. Other currencies in the South such as Mexican Peso is in a bad state with a hike of 10%.

Oil prices are also gives adverse reaction with Futures slumping signals a response to risks. This affects Canada with the continuous decline of oil prices.

The pair could not move higher than 1.3460 level and sustains at 1.35 level. It could reach up to 1.3650 since it has a good performance early this year. The next target is 1.40 handle followed by 1.46 physiological level.

NZD/USD Technical Analysis: November 10, 2016


The NZD/USD pair experienced remarkable volatility during the start of the Asian trading session on Thursday which was mostly due to a reversion of a post-RBNZ drop in an attempt to regain the pair’s hold on the 0.73 region. The NZD/USD pair has presently increased its value by +0.15% to trade at 0.7290 points after posting its daily session lows at 0.7272 after the RBNZ’s movement. The NZD immediately faded following the RBNZ statement with regards to its decision on rate cuts, especially since comments from the central bank has put increased pressure on the pair. RBNZ has decided to cut back its cash rates by up to 1.75% to 25 bps, increasing more opportunities for easing in the weeks to come.


However, the currency pair was immediately pushed back by bulls as they regained momentum due to an expected major reversion in the prices of commodities since the market seems to be increasingly positive on Trump’s proposed reforms. The NZD/USD has also received additional backing from a correction in the USD. as well as with the release of the US jobless claims data and comments from Fed later in the North American trading session.


Resistance levels for the NZD/USD pair is expected to be at 0.7301, and could possibly go further up to 0.7350 and 0.7372. On the other hand, the pair’s support levels are expected to be at 0.7300 and could go even lower at 0.7260 and could test the 0.7223 level.

USD/JPY Fundamental Analysis: November 10, 2016


The USD experienced a sharp surge against the JPY during Wednesday’s trading session as a result of positive investor reaction to Donald Trump’s shock victory in the US presidential elections. High-risk assets went lower during the start of the session, causing a number of investors to immediately move their funds into the safe haven currency JPY. This has then caused the USD/JPY to drop in its lowest levels for this October at 101.179 points. However, the pair eventually bounced back strongly after US equities were able to regain all their previous losses and closed down the previous session on a highly positive note.


The international equities market is still expected to experience a number of backlashes as the market unwillingly adjusts to this unprecedented Trump victory. Investors in the USD/JPY pair are also advised to prepare in the face of added volatility. The USD/JPY pair is expected to rally along with stocks if stocks continue to increase, but if stocks manage to drop then investors are expected to find refuge in the Japanese yen.


The Federal Open Market Committee (FOMC) is also expected to release a statement soon with regards to addressing concerns regarding the decreased possibility of a Fed rate hike, as well as highlight steps on how the central bank plans to address this sudden increase in market volatility. Market volatility is expected to last for a few more days until investors are able to follow the basic fundamentals.

EUR/USD Fundamental Analysis: November 10, 2016


A day before the US presidential elections, the market exhibited little activity as market players expected a Clinton victory, with the EUR/USD pair going below the 1.1000 range due to an added strength in the USD. However, as Republican candidate Donald Trump slowly pulled off an unforeseen victory, the market panicked, with investors and traders at a loss on what to do with all the market confusion. Upon the advent of a Trump victory, the EUR/USD surged by up to 300 pips, however as the London trading session closed down and a Trump victory was slowly becoming a reality, the USD increased its strength and the EUR/USD started plummeting.


Aside from the fact that Donald Trump lacks political experience, the market is still in a state of confusion due to uncertainties with regards to his political plans. Trump’s victory has also greatly decreased the possibility of a Fed rate hike in December, especially since Trump has been an open critic of the Federal Reserve even during the start of the campaign period. The probability of a hike rate was up by 80% prior to the elections, but is now down to less than 50%, with majority of market players already expecting the rate hike’s cancellation.


The market’s general outlook is on the volatile side, and analysts are expecting the increased activity to continue for a day or two before finally settling down. Traders can opt to become spectators or risk buying the EUR/USD at strong support levels.

EUR/USD Technical Analysis: November 10, 2016


As of now, there are no major economic releases in Europe which means there is no news about market movements. Moreover, the pair was deeply moved by external factors. The victory of Trump yesterday upset the dollar and cause it to decline.

The EUR/USD strengthened last night as it attained its highest level on the 8th of September. The pair was able to surpass other levels as it moved upward to the 1.1300 region. Subsequent to the testing of level, prices yielded its fresh highs and tried to withdraw resulting for a fall into the opening price.

The euro and dollar obtained the 1.1050 in the opening of post-European and consolidated its gains. The price pushed the 1.1050 level and draw additional losses at the 1.0950 amid the North American trading session. Moving averages developed through the neutral stance in the 4-hour chart. Resistance filled the 1.1100 region, support stayed at 1.1050 level. The MACD histogram weakens indicating sell signal. RSI kept intact in the neutral condition.

The dollar is expected to remain in the pressured area while the lower level has the tendency to lure buyer’s interest. The goal is set at the mark of 1.1100. The next level is supposed to see at 1.1150.

AUD/USD Technical Analysis: November 10, 2016


The weak result of Australia Consumer Confidence did not influence the AUDUSD. On the other hand, the mixed economic data from China and Trump’s victory affected the USD. The pair further demonstrated a strong sell-off during the Asian trading hours yesterday.


The Aussie and greens had a downturn on its fresh low after stimulating monthly highs and  it fell at 0.7570. The pair was blocked at 0.7570 causing it to bounce upwards promptly after the level testing. It also preserves its bid tone during the NY session and struggled towards 0.7675.

According to the 4-hour chart, the moving averages are neutral. Resistance is found at 0.7675, support comes in at 0.7650. MACD grew lesser which produced weak position for the buyers. RSI plunged into the oversold zone.


There are assumptions about AUD to hover in the red zone for short-term only. In case that it broke the seller's support, it will  move the price to the 0.7625 region.

GBP/USD Fundamental Analysis: November 10, 2016


As expected, the market has been dominated by thought about Trump’s success and his plans as the next president of the United States. The surprise victory of the newly elect President made the market to become extremely volatile considering that the market had least expected for this to happen. This shocking event tend to disturb the market by which British people know how it feels as they have experienced it during the Brexit referendum.

It was an unbelievable day for the GBPUSD since it was able to generate 200 pip within 16 hours.

The USD bolstered on Wednesday morning but immediately fell down after the election results. The pair further demonstrated a huge whipsaw pattern since the strength of the greens toggle every now and then. This also distresses long-term buyers and investors seeing the market to shift in different directions causing them to struggle in selecting for their trades.

As of this writing, the turmoil continues and it is recommended to keep away from the possible risk until the market recovered. Within a short range, it is expected the weakness seen in the US dollar will be apparent upon this week, however, there is no estimated duration how long this weakness will last.

USD/JPY Technical Analysis: November 10, 2016

The pair USD/JPY declined yesterday night reaching the same with September low with the depreciation of U.S. dollar when Donald Trump won the election. The pair recovered at 101.16 level after sell-off and rose to 103.50 level. Shortly after the upward momentum was overpowered by the selling pressure again. The traders had longer gains during sessions in North American time.

The price continued to move higher but broke at 104.00 to 104.50 level. It has preceded the 200-EMA 4-hours chart opening of New York whilst the strong resistance has hampered the rally of dollar. Other Moving Averages are in the downward direction in the same pace with the price.

The MACD histogram signals control of sellers as they are gaining strength towards the 102.50 level. The Overvalued area is almost reached in the RSI indicator with chances to move lower.

The Resistance level is posited at 103.50 level while the support level is at 103.00 level. The downward direction will continue if the U.S. dollars continues to depreciate with Sellers leading the price activity towards the 102.50 level. It is expected for a near-term technical correction at 104.00 level. A daily close below the physiological levels could further decline towards the 103.50 level.

GBP/USD Technical Analysis: November 10, 2016
The pound declined on Monday despite its recent uptrend which is because of House Price Index giving a positive outlook. The price stayed at 1.2400 level and did not recover. But it bounce back a little after the testing is done.
In its 100-EM chart, the decline halted while the price broke in the 50-EMA moving downtrend. On the other hand, the 100 and 200 EMA chart moves uptrend. The resistance level posited at 1.2500 with a support at 1.2400 level. The MACD histogram signals weakening of the buyers' position while the RSI is descending.
The break at 1.2400 level could proceed even lower towards 1.2300 level.

USD/CAD Fundamental Analysis: November 10, 2016


Even after the results of the U.S. Presidential election, the pair USD/CAD still remains resilient and steady despite all the volatility in the market. It remains to be calm which has been happening for the past few days.


It continues to move in a subdued pace as it consolidates within a small range. Traders who positioned long can continue to do so. The trend shows a solid uptrend with showing clear direction of the next move towards the medium target at 1.4000 level.


The volatility of greenback gaining strength and weakness for the past day has been equalize by the stability of loonie. However, the Canadian dollar has immediate effect with the fluctuations in the oil market for the past 24 hours. Another factor is the uncertainty brought by his ideals in his campaign agenda such as changes in immigration and trade deals. The move of U.S. dollars remains unpredictable on which direction to go to.


The pair is seen to remained consolidated for the week and keep within the range until all the chaos has settled down after the U.S. Presidential election. Traders could either continue to invest long or stay in the sidelines until prices improve.

USD/JPY Fundamental Analysis: November 11, 2016

The USD increased tremendously against the JPY during Thursday’s trading session after investors posted a somewhat hopeful sentiment towards President-elect Trump’s term, as well as his ability to add stimulus to the US economy as well as increase the nation’s interest rates. The USD bounced back to 106.94, its highest level reached since July. The USD/JPY pair closed down the previous trading session at 106.793 points after increasing by +1.08% or 1.139 and is expected to make further gains at 3.5%.

Since today is a US bank holiday, the USD is expected to get high levels of support from the US Treasury market, which could possibly lead to limited upside activity or profit taking, especially since US Treasury yields reached its highest levels this week, its highest after 10 months. The USD/JPY could either increase further if the US reflation trade gains momentum and long-term US Treasury yields go higher, or the currency pair could be augmented by a steady flow of interest rate hikes from the Federal Reserve. However, there is also a possibility that the USD could lose its footing against the JPY, especially since one of the major highlights of the Trump presidency is protectionism, which could adversely affect the US foreign trade.

The recent activity of the USD as well as the US equity markets suggest that investors are expecting that Trump would be able to become successful with regards to expanding the US economy by way of tax cuts and fiscal spending. These could induce inflation levels and add up to the US debt, prompting the Fed to increase interest rates next year in a more frequent succession than previously expected.

EUR/USD Fundamental Analysis: November 11, 2016

The EUR/USD pair continued losing value during the last trading session as the market is slowly grasping the fact that Trump is going to be the next President of the United States. The market slowly regained momentum following its previous violent reaction to the results of the US elections, with the USD strengthening on almost every currency. This increase has especially affected the JPY and the EUR, with the EUR dropping to 1.0950 and even went lower and reached 1.0900 and 1.0850.

The EUR/USD pair is currently consolidating between 1.0850 and 1.0920. The market is not expecting any major economic data to be released today for the eurozone, which means that the currency pair’s movement will be largely determined by the market’s reaction towards the most recent events and the results from the recently concluded US elections. The market has little grasp of how Trump is going to turn out as a political figure, however it is expected that less-than-ordinary political and economic events such as Brexit and the Trump presidency could slowly become the norm across the globe, and the international market might eventually become used to events such as these, which could tone down the occurrences of violent market reactions. The market is still expected to be remarkably volatile for the coming days and traders are advised to proceed with caution on all trades.

USD/JPY Technical Analysis: November 11, 2016

The yen experienced added pressure due to the high demand for high-risk assets, while a renewed possibility for the Fed rate hike appeared yesterday following a positive US labor market report. The USD/JPY pair traded within high ranges during Thursday’s session, with its price reverting back to 105.00 and even went further to 106.00 after going over 105.50 following a somewhat weakening during the Tokyo session. Sellers are now closely monitoring the 106.00 after quotations jumped from every attempt to return to the positive territory.

The USD/JPY pair is now expected to reach 106.50 and could possibly test the 107.00 region prior to the opening of the North American session. The currency pair is now a little ways over its moving averages in its 4-hour chart, with the 50, 100, and 200 EMAs projecting an upward direction. Resistance levels for the pair is expected to be at 107.00, while support levels are expected to come in at 106.50.

The MACD levels for the pair increased, indicating added buyer strength. Meanwhile, its RSI values are currently on the overvalued territory and is expected to go lower. The USD/JPY could extend its gains up to 107.00 if it manages to go over the 106.50 level.

EUR/USD Technical Analysis: November 11, 2016


The fresh talks happened yesterday had helped lessen uncertainties about the economic policy to be imposed by the newly-elect U.S President, Donald Trump. Since the talks have discussed that the Trump administration is expected to further improve economic growth and inflation.

The EURUSD pair remains intact in the pressured area on Thursday and holds over on its recent lows. The single currency established a neutral stance and a short-term undertone. Consequent to a steep decline developed on Wednesday, the euro and greens met its support at 1.0900. Prices bounded from the level and made a minor reversal for its previous losses, then headed towards 1.0950 in the Asian session. Buyers were not able to fully recovered since they have failed to reach again the aforesaid level.

The euro stayed within the region 1.0950 during the trading session in the morning. The pair had a downturn to the 1.0900 level just before the opening of NY trading hours. All moving averages approached the lower position according to the 4-hour chart. Seeing the 50-EMA crossed over the 100-EMA in a downwards direction as well. Resistance can be found at 1.0900, current support is seen at 1.0850. MACD settled in the negative zone. RSI moved close to the oversold levels, favoring a lower move.

It is recommended that when a bearish tone dominate the market, the EUR/USD will have widespread losses around the 1.0800 region.

GBP/USD Technical Analysis: November 11, 2016


The pound negatively had a dipped and stayed under pressure despite the selling wave of new oil along with the neutral sentiment result for EU banks. Even on Thursday, the pair is in a stable neutral position.

The British pound made a rebound from the level 1.2400 and further carried out a minor reversal for Wednesday's losses. The pound proceeded at 1.2500 amid EU session. Moreover, buyers fall short in expanding their gains, the price made a rotation as it performed a reversal then return again to 1.2400 which act as support.

As shown in the 4-hour chart, the price tested 200-EMA, however, it blocked the pair’s movement upward. The cable pair is situated between the moving averages. The 50, 100 and 200 EMAs undertook the neutral position. Resistance leans towards the 1.2500 region, support is set at 1.2400. MACD kept a constant level, favoring for the strengthening of the buyers. The RSI indicator consolidated around the overbought levels.

There are assumptions that the pair can retest the 1.2500 level if both can make a recovery. Contrarily, a decline under the 1.2400 is expected which would indicate a short-term upward momentum easing and would enter to the mark 1.2300.

NZD/USD Technical Analysis: November 11, 2016

Together with the cut rate carried out by RBNZ, the kiwi also had a cut down against the greenbacks. Moreover, the NZD had a negative day since yesterday. Sellers were able to move the price towards a lower position after the short period of consolidation stage which is found at 0.7300.

The pair pushed the 0.7250 level and further tested 0.7200 during the morning trades of U.S. Prices were able to surpass the 50 and 100 EMAs while 200-EMA is being tested as shown in the 4-hour chart. Moving averages made downturn in the same timeframe. Resistance is located at 0.7250 level, support marks the 0.7200 region.

Analysis on the technical side seems negative, as MACD constricted and indicated the softening position for the buyers. RSI endures an oversold condition.

Apparently, bearish investors are prevailing in the market by which a strong bearish sentiment influences the pair’s movement towards the 0.7200 level. The next target is 0.7150.

NZD/USD Fundamental Analysis: November 11, 2016

The New Zealand dollars went downhill because of concerns with the Trumps victory and the inflationary of economic policies. The kiwi closed at .7212 that declined by -0.92%. Although it increased initially when the results has been announced which is deemed to be the final rate cut this year’s interest cycle. The Reserve Bank of New Zealand lowered its benchmark borrowing rate to a record low of 1.75% yesterday, the third price easing this year. It is predicted only 20% probability of rate cut next year with the target rate at 1.7% by the Central bank.

The Weekly Unemployment Claims of U.S did not meet the expected results which reported 254,000 jobs while the Mortgage misdemeanors dropped by 4.52%. However, the Federal Budget Balance climbed from -44.2 billion to -81.9 billion and the 30-year Bond Auction also increased by 2.9% with 2.1 coverage with the former auction at 2.47/2.4.

It is a holiday on Friday where banks will be closed and this includes the Treasury market. Traders could use the U.S. Treasury Futures as a basis.

The profits earned in the U.S. equity market and U.S. dollars, there is a possibility for the short-term surge for Kiwi. Furthermore, the results of U.S. Presidential election is expected to bring inflation that may influence Fed rate hike more than what was predicted for 2017.

USD/AUD Fundamental Analysis: November 11, 2016
The U.S. dollar is overpowering the Australian dollar with simultaneous buying in the G-10 complex. This has been a bad week for Aussie traders. A surge on the pair with heightened inflation and anticipation on the pending fiscal policies of Trump caused Traders from New York traded Aussies overnight resulted to hammer at .7740 to 7570 before profits are gathered.
The Australian dollar can be compared to China substitute for liquidity with traders doing short position on Aussie unlike illiquid Chinese assets. Australia is concerned with the high possibility for changes in global trading and its policies and practices while the U.S. Interest rates rallies.

USD/JPY Fundamental Analysis: November 14, 2016

The USD experienced a sharp increase against the JPY following a series of investor reactions regarding Donald Trump’s sudden victory in the US elections. The USD/JPY pair closed down last week’s session at 106.615 points after increasing by +3.45% or 3.552 points.

A large number of investors had a flight to safety on November 8 due to uncertainties brought about by the elections, a move highly similar to the Brexit referendum last June. This resulted to increases in the prices of gold and CHF, but as the market came to terms with a Trump victory this has resulted to a steady increase in the US dollar. The market is now expecting added inflation due to Trump’s policies, which include added fiscal spending and production of trade. This has caused the US Treasury yields to increase, therefore putting upward pressure on the USD and making the USD a more sensible investment as compared to Japan’s government bonds. Analysts are now saying that this could compel the Federal Reserve to increase the frequency of its rate hikes.

The USD/JPY pair is expected to continue increasing if the US Treasury yields continue to strengthen as well. Major economic releases from Japan include the nation’s Preliminary GDP, which is expected to clock in at 0.2%, which is the same as the previous GDP report. For the US, expected economic releases are the Retail Sales data, Philadelphia Fed reports, Building Permits data and the Producer Price Index data. Federal Reserve Chairwoman Janet Yellen is also expected to make a statement on Thursday.