Daily Market Analysis from ForexMart

Fundamental Analysis: May 27, 2016

In the midst of positive economic forecasts, the dollar reinforced its positions. As stated by the Fed, the US regulator may heightened the rates at its conference this coming June. Meanwhile, in the economic news, the United States presented the Initial Jobless Claims wherein the volume appeared at 268,000 against the report of 275,000.

The euro was bolstered by the agreement happened between the Eurozone and the Greece. The latter attained an agreement with its creditors and shall take a new tranche of loans in the amount of 10 billion euro.

It has been inveterated that the recoupment of the British economy became sluggish by the second Gross Domestic Product estimate for the first quarter in the UK. The economy showed a growth by 0,4% in the first quarter from 0,6% in Q4 2015. The economy of Britain encountered a difficulty with a devitalized growth in emerging markets particularly in China. The approaching referendum also decelerated the growth.

The dollar stick around in a range waiting for the statement of Janet Yellen. The market is anticipating hints from the regulator about the probable rate hike in June. The yen raised and bereaved the dollar from its recent gains. The investors involuntarily close positions before there are any probable risk that may occur.

Technical Analysis for USD/JPY: May 27, 2016

The yen deprived from growing on Thursday. But as the corporate services price index grew, it heightened precociously. And as presumed, the Corporate Service Price index grew by 0,2% y/y. The USA presented the Durable Goods Orders wherein the data showed 0,4% against the expected 0,3% and Initial Jobless Claims which showed 268,000 against the report 275,000.

The first support occurs at 109.00 and at 108.20 subsequently. The first resistance stands at 109.80 and at 110.60 subsequently.

The price is in the Ichimoku Cloud and it is over the Chinkou Span. The Tenkan-sen and the Kijun-sen form a horizontal movement creating a "Golden Cross".

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

Technical Analysis for EUR/USD: June 1, 2016

This week's primary event would be the conference of the ECB in the Eurozone. There are assumptions that the European regulator will leave its monetary policy unchanged.

The currency pair tried to regain on Tuesday. The resistance occurs at 1.1200 while the support stands at 1.1130.

The MACD indicator is in a negative location which signifies to sell. Meanwhile, the RSI is in a neutral zone which does not provide clear signals.

Technical Analysis for GBP/USD: June 1, 2016

The pound managed to recover from its lows. Generally, the dollar stayed solid contrary to the pound as an aftermath of Janet Yellen's speech last Friday. The market hopes for new drivers for a further activity.

The resistance occurs at the level of 1.4560 while the support stands at 1.4480.

The MACD indicator is in a negative location which signifies to sell. Meanwhile, the RSI indicator is near to the oversold zone.

Technical Analysis for EUR/USD: June 6, 2016

The poor data of Non-farm Payrolls could be a factor of the Fed rate hike delay. The EUR/USD pair bounced up last Friday. It surpassed the levels of 1.1200, 1.1250 and 1.1300 and reached the level of 1.3730. This cause the pair to look bullish.

The resistance occurs at the level of 1.1370 while the support stands at 1.1300.

The MACD indicator is in a positive location, which signifies growth and is bullish. The RSI approached the overbought level of 70.

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