Daily Market Analysis from ForexMart

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Fundamental Analysis: May 17, 2016

Earlier on Monday, the dollar has stabilized as the sturdy US reports, Retail Sales and Consumer Sentiment, reduced the investor's concerns regarding the development in the economy. The positive data also enliven the expectations that the Fed may brought up the interest rates as soon as possible contrary with what is expected. But later on, the dollar dropped to its low.

The Monday trading was frail with inferior volatility amidst the empty economic calendar. The financial markets in Germany and France refrain from working as they celebrate the Holy Spirit on Monday. We have not heard any significant report from the UK.

Meanwhile, the previous gains of yen in opposition with the dollar was lost. The reason of its fall was because of the unsatisfying Chinese economic forecasts.

The center of our attraction this week would be the Machine Tool Orders in Japan, the forecast of the Fed, Consumer Prices and the Industrial Production in the Us.

Technical Analysis for EUR/USD: May 17, 2016

We have not heard any significant news last Monday. Since it was the Day of the Holy Spirit, most of the European markets were closed to celebrate the event. Meanwhile, in the Bonds Market, the 10-year government bonds yield in Germany decreased which also lessen the charm of the European assets.

The first support occurs at 1.1260 and at 1.1150 subsequently. The first resistance lies at 1.1350 and at 1.1450 subsequently.

A confirmed and a sturdy sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a descending movement and the Kijun-sen forms a horizontal motion creating "Dead Cross". The descending movement will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is declining.

Fundamental Analysis: May 18, 2016

We heard a lot of economic news on Tuesday, US data being the main driver of the day. The States has given the report of Core Consumer Price Index to the public wherein the data came in at 0,2% which occur simultaneously with the report and also the Industrial Production which reached 0,7% against the reported 0,3%. The Federal Reserve representatives, Williams and Lockhart gave their statements. The idea of raising the rates twice or thrice this year was supported by Williams. Meanwhile, Lockhart stated that the negative rates scenario was not intended.

As for the Eurozone, it only published their positive Trade Balance for March wherein the data came in at 28.6 billion against the report of 22.5 billion.

Since September last year, the inflation in the UK decelerated in April for the first time which also caused the pound to lessen its gains contrary with the dollar. After increasing by 0,5% in March, the Retail Price Index grew by 0,3% y/y. The inflation was expected to stay at 0,5% by the traders, but the British inflation has been low from the target level of 2% for more than 2 years.

In March, the Japanese Industrial Production aggressively increased wherein the data came in at 3,8% against the previous 3,6%. While the Capacity Utilization grew from -5,4% to 3,2% in March. But still these statistics could not support the yen.

Technical Analysis for GBP/USD: May 18, 2016

Bonds Market. The 10-year UK government bonds yield decreased which lessen the investments of the British assets. The UK presented Consumer Price index for April wherein the data came in at 0,3% y/y against the report of 0,5% y/y.

The first support occurs at 1.4400 and at 1.4320 subsequently. The first resistance stands at 1.4480 and at 1.4560 subsequently.

The price is in the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen and the Kijun-sen form a horizontal movement creating a "Dead Cross".

The MACD indicator is in an impartial location. The price is correcting.

Technical Analysis for EUR/USD: May 19, 2016

As the expectations that the Fed would heighten the rates is growing, the US dollar increased contrary to the euro on Wednesday. The Consumer Price Index for April reached 0,2% against the expected -0,2% as published by the Euro zone.

The first support occurs at 1.1260 and at 1.1150 subsequently. The first resistance resides at 1.1350 and at 1.1450 subsequently.

A confirmed and a sturdy sell signal has been found. The price may be found below the Ichimoku Cloud and it is below the Chinkou Span. The Tenkan-sen and the Kijun-sen display a descending movement. This activity will remain until the price goes below the Cloud.

The MACD indicator is in a negative location. The price is declining.

Technical Analysis for USD/JPY: May 19, 2016

The primary Gross Domestic Product of the Japanese for Q1 stabilized as the data came in at +0,4% against the report 0,1%. On a yearly basis, the GDP has increased by 1,7% during the first quarter. In the midst of the upgraded data in Japan and the United states, the expectation that the Bank of Japan will weaken the monetary policy even more has been diminished.

The first support occurs at 109.80 and at 109.00 subsequently. The first resistance stands at 110.60 and at 111.40 subsequently.

An inveterate and a sturdy buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chinkou Span. The Tenkan-sen and the Kijun-sen display an ascending movement. This activity will remain until the price goes over the Cloud.

The MACD indicator is in a positive location. The price is increasing.

Technical Analysis for EUR/USD: May 20, 2016

Bonds Market. The interest in the European assets lessened due to the decline in the 10-year German government bonds yield. Protocols were presented by the ECB. The euro could not be sustained by the issued ECB minutes.

The primary support occurs at 1.1150 and at 1.1040 subsequently. While the primary resistance resides at 1.1260 and at 1.1350 subsequently.

An inveterate and a solid sell signal has been found. The price is below the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen form a horizontal movement. This activity will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is correcting.

Technical Analysis for USD/CHF: May 20, 2016

Though the macroeconomic calendar was empty, the investors of Switzerland put their interest to the United States' data. The USA presented the Initial Jobless Claims report wherein the data showed 278,000 against the expected 275,000 and also the Philadelphia Fed Manufacturing Survey wherein -1.8 againts the report 3.5.

The primary support occurs at 0.9850 and at 0.9750 subsequently. The primary resistance stands at 0.9940 and at 1.0020 subsequently.

An inveterate and a solid buy signal. The price is over the Ichimoku Cloud and it is on top of the Chinkou Span. The Tenkan-sen forms a horizontal movement and the Kijun-sen creates an ascending movement. This activity will remain until the price is on top of the Cloud.

The MACD indicator is in a positive location. The price is consolidating.

Technical Analysis for EUR/USD: May 25, 2016

The Bonds market visualized an increasing optimism as the 10-years German government bonds yield increased which also heightened the charm of the European assets. The center of the attraction was the Economic Sentiment in May (the ZEW Institute). The index aggressively decreased which weakened the euro wherein the data came in at 6.4 against the expected 12.0.

The first support occurs at 1.1130 and at 1.1070 subsequently. The first resistance lies at 1.1200 and at 1.1250 subsequently.

An inveterate and a solid sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a descending movement and the Kijun-sen forms a horizontal movement. This activity will remain until the price is below the Cloud.

The MACD indicator is in a negative location. The price is declining.

Technical Analysis for GBP/USD: May 26, 2016

The decreasing doubts regarding the result of the referendum cause the pound to come nearly to its high for the week. The volume of Brexit opponents is 55% against 42% who want to exit the EU, according to the recent poll.

The first support occurs at 1.4670 and at 1.4560 subsequently. The first resistance stands at 1.4760 and at 1.4880 subsequently.

An inveterate and a solid buy signal has been found. The price is over the Ichimoku Cloud and it is on top of the Chinkou Span. The Tenkan-sen ascends in movement and the Kijun-sen displays a horizontal movement creating a "Golden Cross". This activity will remain until the price is over the Cloud.

The MACD indicator is in a positive location. The price is growing.