Andrea ForexMart

Another Win for UD Las Palmas Good news for football enthusiasts! Union Deportiva Las Palmas won the recent game with 2-4 score against Valencia on August 23, 2016. UD Las Palmas is a part of La liga season which began on 19th of August 2016 and will end on 21st of May 2017. We, ForexMart team, cheer for our partners and wish a successful year in the top Spanish Division ahead! ForexMart being an official team sponsor is giving full support to UD Las Palmas. This past year was very successful for both. ForexMart was recognized as one of the top brokers awarded as the Best Broker in Europe for 2 years from 2015 to present. The year of hard work and dedication produces remarkable results in providing the best for company’s clients. Las Palmas being part of the top Spanish division marks a good start as well. Union Deportiva Las Palmas Club is a Spanish Football team who represents the community of Canary Islands. It was formed in 1949 by merging five teams. During this time the club has spent 31 season in the first division of the Spanish Football League (La Liga) and was able to win several silver and bronze medals and to become four times the Segundo champion. The promising partnership of ForexMart and UD Las Palmas aims to achieve goals for a collaborative growth. This marks a new page for Las Palmas HIstory, as described by the CEO of ForexMart, Savvas Patsalides. After all, “the best is meeting the best”. Las Palmas being a strong competitor in the popular football league in Europe with the goal to grow and continue its long history is looking forward for a successful partnership with ForexMart in the coming years.

USD/CAD Fundamental Analysis - September 21, 2016 Yesterday, Governor Poloz of the Bank of Canada discussed about the need of the monetary stimulus for the country in order to bolster its economy, however the US and Canadian dollar seems impassive as it performed a steady-going movement. As it was stated in the yesterday's forecast, the USDCAD traded within a high range near the 200 SMA and possibly to become a firm resistance for the pair and the forecast were already proven right. Buyers attempted to drove the price beyond the resistance level which resulted a fall back to its previous range. The 200 SMA breaks through the 1.3253, the high is positioned around the 1.3242. Due to a sharp decline of the high, the price settled down at 1.3176 and further changes down to 1.3100 is still anticipated. Moreover, the FOMC announcement will determine if the pair could make an increase within the level of 1.2850. The USD and CAD appeared to be bearish within a short and medium term. There is also a prediction regarding the oil prices consolidation subsequent to the recession happened few months ago. Part of the forecast is the continuous ranging of the pair between 400-500 daily pip range.

Fundamental Analysis for USD/JPY: September 21, 2016 The USD/JPY pair went down by 0.169 0r -0.17% to trade at 101.744 points. The US dollar is currently in a tight trading range against the JPY during the last trading session as various market players are waiting for the Bank of Japan’s announcement regarding its monetary policies, as well as the Federal Reserve’s announcement on Tuesday. The USD/JPY slightly weakened after the release of the US housing data, which turned out to be a disappointment for traders and investors. The housing data came out at a yearly rate of 1.14 million units last August, going way below the expected range of 1.19 million units. Construction permits also dropped by 0.4% to go down at 1.14 million units in August. Speculators are saying that the Bank of Japan would have to implement programs with significant monetary policy easing and interest rate cuts in order to further weaken the JPY in the long-term frame. The Federal Reserve must also release a hawkish statement which can indicate a possible rate hike in December. The USD/JPY is also expected to appreciate especially if the BoJ releases a more aggressive monetary strategy combined with an expected 12% interest rate raise by the Fed prior to the central bank’s announcement. However, if the Fed remains cautious on its policies and refuses to raise its rates, then the USD might weaken and the BoJ would be unable to decrease the value of the Japanese currency.

EUR/USD Technical Analysis: September 20 2016 Earlier on Friday the dollar demonstrated a sluggish performance because of the progressive US Statistics data which allowed another session for the Fed rate hike for this month. The technical pattern determined a moderate bearish position. The euro and dollar are able to reach 1.1130 level of support. The EUR/USD price climbed toward the 1.1200 level which build up a selling pressure. The 4 hour chart illustrated the crossing of the 50-EMA over the 100-EMA in a downward direction, both EMAs are pared down while the 200 EMA sustained a neutral position. The pair's resistance comes up at 1.1200, support occupied the level of 1.130. MACD carried a negative trend which indicated strength for the sellers. RSI drawn on the area of the oversold status.

Fundamental Analysis for USD/JPY: September 20, 2016 The USD/JPY traded at 101.866, dropping by 0.390 points or -0.38% as traders and investors are preparing for the announcements of the Federal Reserve and Bank of Japan regarding their respective monetary policies on Wednesday. Although the Federal Reserve’s announcement on its interest rate policies will be announced in the same period as that of BoJ’s announcement, analysts are speculating that the BoJ’s announcement on its monetary policies will have a greater impact on the market’s volatility and movement than that of the Fed’s announcement. However, this announcement might give cues regarding an imminent interest rate hike in December, which can strengthen the USD and cause the JPY to lose some of its value. The Bank of Japan is also expected to discuss an extensive review of its monetary policy framework, which includes a combination of its asset-buying program with its negative interest rates. Speculators are having difficulties with regards to predicting the BoJ’s movement. Some speculators are saying that the Japanese central bank will be changing its mechanism in exchange of a policy which will be combining an increased stimulus while giving protection to banks which are struggling with dealing with the negative effects of interest rates on their respective deposits.

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GBP/USD Technical Analysis: September 19 2016 The issue about the next cut rate of the BoE resulted the pound to hover within the pressured area. According to BoE, the cut rate will aid the improvement of the country's economy. The sterling and dollar recorded a negative balance on Friday. Bearish investors were able to steer the market. GPB/USD had lose its winning track and crossed the 1.3200 level and hit the level of 1.3100 during the closed out trade. The pair as presented in the 4-hour lies below the 50, 100 and 200 EMAs. The overall direction moving averages 50, 100 and 200 are descending. The resistance of the pair is 1.3100,the support is identified at 1.3000. MACD indicated a negative downtrend and remained at its current level which affirmed the seller's strength. RSI represented an oversold condition.

USD/CAD Technical Analysis: September 16 2016 Due to recent decrease in the oil prices the currency of Canada exhibited a weaker performance in comparison to the US dollar, risk aversion also eventuate though endowed on a limited level only. The pair signaled an upward trend near its upper field. USDCAD undergone a short assessment and made a weekly high close to 1.3200 then bend over below the testing process. It can be observe that sellers are aiming for the 1.3200 level. Moving averages are lowered down the price of the pair. As indicated in the hourly chart, the 50-EMA ascends and crosses the 100 and 200 EMAs. Resistance of the pair is at 1.3200, support entered the point of 1.3100. The histogram established buyer's strength and stay on the positive area. RSI is place on the overbought region.

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Fundamental Analysis for USD/JPY: September 16, 2016 The USD/JPY pair dropped 14 points to trade at 102.29 points, well within its recent trading range of between 101.90 and 102.50. The strength of the USD was offset by an impending meeting of the Bank of Japan next week, as well as a renewed demand for the safe haven currency. According to the Wall Street Journal, the Japanese subzero-rates policy had a significant impact in putting downward pressure on interest rates. There are also signs that the BoJ will be attempting to sharpen its yield curve by increasing long-term rates and suppressing short-term rates. The Bank of Japan has already purchased more short-term government bonds, shifted its bonds and is currently buying lesser bonds. The percentage of long-term bonds went up by half of a percentage since July. However, in spite of the steepening of the Japanese yield curve, the difference between 10-year bonds and 2-year bonds is still half of its value before the effect of negative rates. Japanese government bonds had their worst selloff in 20 years, especially since the BoJ will be planning to implement adjustments on the maturity range, causing yields to rise on longer-duration bonds.

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NZD/USD Technical Analysis: September 15, 2016 There is an ease of movement of the New Zealand currency although the country indicated a weaker-than-expected result of its economy's health. The price of the pair is 0.7250 and able to trade with a higher price on Wednesday. The trendline continued to move in an upward direction even before a decline already occurred. The kiwi arrived at a lower position as indicated in the 4 hour chart because it is also currently dealing with a bullish tone 200-EMA. The price is moving between the 100 and 200 EMAs according to the timeframe analysis. While the 50 and 100 EMAs recorded a lower ratio. The resistance is established at 0.7320, support stands in the level of 0.7250. MACD experienced a downturn which means that sellers have strengthened. RSI merges on the oversold condition. The kiwi and dollar is anticipated to present a negative tone in the market.

Fundamental Analysis for EUR/GBP: September 15, 2016 The EUR weakened while the GBP further increased, causing the EUR/GBP pair to trade at 8.499 points, going down at .0003 or -0.035%. The pair movement has caused a technical reversal top, which signals that investor sentiments are about to drop. Eurostat has also reported on Wednesday’s economic news that the industrial production data decreased by 1.1% in June, with a 0.8% increase in May. On the other hand, the UK employment data is showing a resiliency in the UK jobs market, even after the Brexit vote. The Office of National Statistics has reported an increase in employment rates, going up by 174,000 to 31.77 million in just three months since July. These employment rates are the highest in 40 years, with the increase in the number going above the expected range by economists. The unemployment rates also remained at a stagnant range of 4.9% in July. Meanwhile, the number of people claiming unemployment benefits went up by 2,400 to 771,000 last August. However, wage growth data also experienced a gradual slowdown, causing economists and speculators to have unsteady opinions with the set of data released. However, this strengthening of British employment and jobs data may cause the Bank of England to pay less attention to interest rates and maintain its current stimulus once the bank announces it decisions regarding monetary policies on Thursday.

USD/JPY Technical Analysis: September 14 2016 After the Board of Governors of the Fed released an announcement regarding their speculations to bring around the possible increase in rate for the month of September. The US dollar and Japanese yen confirmed a buy signal on Tuesday. On the other hand, the dollar recovered from the losses it endured on Monday. The buyers also drove the price within the level of 102.50. The financial instrument restored its position on top of the 50, 100 and 200 EMAs as indicated in the 4-hour chart while remained in a neutral status. Resistance is placed at 102.50, support settled at the level of 101.40. MACD arrived at the negative zone and experienced a steep decline that signaled seller's strength. RSI bounced against the oversold condition.

Fundamental Analysis for NZD/USD: September 14, 2016 The NZD/USD pair went lower during the last trading session, going down 12 points to trade at 0.7341 in the light of an impending interest rate increase by the Fed and confusions brought about by a decision from the Bank of Japan. On the other hand, China’s industrial production data went well above the expected range but did not seem to bring much support to the commodity currency. The Chinese industrial data increased by 6.3% in August as compared to last year, while retail sales data also exceeded expectations from market speculators. Traders are now monitoring data from New Zealand, with the account balance due on Wednesday, economic data results scheduled to come out on Thursday, and the results of the consumer confidence survey set to be released on Friday. The NZD was also supported by an increase in food prices, which can cause inflation rates to ease a little bit. Bond prices from New Zealand also decreased, with yield points at 1.5 basis points, going higher towards the end of the yield curve.

GBP/USD Technical Analysis: September 13, 2016 Macroeconomic announcements of UK were not yet issued since Monday. The property market of UK will tend to focus more on the upcoming session of the Core Consumer Price Index. The trading range of the pound indicates an upward movement on a low volume last Monday which is not distant to the low result on Friday. The price of the pair ranges from 1.3244 to 1.3285 throughout the day trading. Upon the outset of the North American session the dollar and the pound regained. GBP/USD introduced a higher position in the 4-hour chart which made its price to reach the 50-EMA. The 100-EMA moved upward and crosses over the 20-EMA with a similar chart. Moving averages established a bullish pattern. The resistance is in the level of 1.3360, support comes in 1.3200 level. MACD is in the negative territory. MACD decreased which confirms the strength of sellers. As the MACD enters the negative zone, it affirmed for the seller's strength. RSI sets in the oversold condition.

Fundamental Analysis for USD/CAD: September 13, 2016 The USD/CAD increased by 28 points after a decrease in oil prices caused by a positive US production data and an easing in gold prices. The Canadian dollar is currently trading at 1.3077 points after an increase in international commodity prices, with the USD rallying on Friday after speculations that the Fed might consider an increase in its interest rates within the month. The USD is increasing in relation to the CAD after a relatively positive US jobless claims data and negative Canadian building permits report data. According to the US Department of Labor, the jobless claims data up until September 3 decreased by 4,000, going down from 263,000 to 259,000. However, market analysts are still expecting the jobless claims data to go up by 2,000 within the week. Canadian building permits data meanwhile went up by 0.8% in July, exceeding initial expectations for an increase of only 0.3%. The housing price index data also saw an improvement, rising to 0.4% from last month’s 0.1%, while the annual score also increased 2.5% to 2.8%. Investors are refraining from buying into the CAD due to the appeal of other riskier currencies.

Fundamental Analysis for GBP/USD: September 9, 2016 The GBP/USD pair increased by 30 points to trade at 1.3370, hitting its highest trading point since the Brexit vote. The GBP was able to gain strength due to the weakening of the USD and strong economic data. The Bank of England previously underwent criticism from Brexit supporters after the central bank stated that the UK economy would soon face a massive slowdown and a recession after the Brexit vote. Post-Brexit data has shown that the UK economy did not wholly suffer the drastic post-Brexit changes that was initially forecasted by analysts and spectators. However, economists are still speculating that it will not be long before Britain goes into an economic slowdown. The Bank of England Governor Mark Carney defended the bank’s moves against critics who were saying that the BoE has moved too rashly with regards to its handling of the Brexit shock, particularly in August where the bank cut down on its interest rates, eased lending policies, and expanded its bond-buying mechanisms. Carney has since then stated that the BoE has always expected that the main economic sectors would be able to recover from the referendum’s sudden impact in July, and this was shown in the recently published PMI data during the past few days.

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USD/CAD Technical Analysis: September 8 2016 The dollar made some withdrawal since the Fed had an increase despite that the market is experiencing a very high risk. The growth in the price of oil affected the CAD positively. Investors on the other hand are looking forward for the result of BOC meeting. The period of indecision of the pair intervenes between 1.2824 - 1.2864. The sentiment of USD CAD is identified to be neutral. The moving averages of the pair maintained a bearish position. The 50-EMA crosses the 100 and 200 EMAS as seen in the hourly chart. The level of resistance marked the 1.2900 and the current support approached the 1.2800 level. MACD demonstrated the same position that strengthened the sellers otherwise the RSI is moving towards the negative zone. The pair is recommended to surge with a resistance level of 1.2900 though there is a tendency to make a reversal and restore a lower position, seller should work for a price increase heading to 1.2800.

Fundamental Analysis for USD/JPY: September 8, 2016 The USD continued to plummet against the JPY during Wednesday’s trading session, dropping by -0.55% or 0.564 points to trade at 101.445 points. This drop in rates was mostly caused by a negative-leaning US economic data, which reduced the probability of a Fed rate hike within the month, and protective sell stops are also being triggered by every new low encountered. The Institute for Supply Management’s data release for the non-manufacturing purchasing managers’ index also fell at 51.4 points last August, the largest drop seen for the data since November 2008, especially since traders and speculators were expecting 55.4 points. Traders are speculating that the fragile economic data can be used by Fed to refrain from increasing its interest rates. The labor market conditions data from the Fed also plummeted in August at -0.7 points following a positive data surge in July. On the other hand, the JPY continues to rise following reports that BoJ policymakers had varying opinions prior to the bank’s meeting on September 20-21. The said meeting is expected to tackle the bank’s stimulus program and conduct a thorough assessment of the said program. Analysts are speculating that the BoJ’s move to review its stimulus program may be a sign that its policymakers are beginning to doubt the effectiveness of the nation’s economic stimulus program. The US is also expected to release its most recent job openings report, with investors expecting data to come out at 5.58M, which is a bit lower from the previous data release of 5.62M. Meanwhile, the Fed is also expected to release its most recent Beige Book data. In addition, Esther George from FOMC will also be releasing a statement on Wednesday, which might have an impact on the market especially if there is a discontinuation of the expected interest rate hike in September.

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EUR/USD Technical Analysis: September 7 2016 The report of the Non-Manufacturing PMI established a slowdown result which also weakened the US dollar and lowered its monthly performance. During the Asian and Europe session held yesterday the pair existed in the pressured area near the level of 1.1130. EURUSD interrupted the 1.1200 level then headed in the level of 1.1270. The pair also receded the moving averages 50,100 and 200 furthermore shifted toward the north direction. The resistance approached the 1.270 level whereas the level of support is set at 1.1200. MACD indicated a softened position of the sellers. RSI moves closer to the overbought condition.

Fundamental Analysis for NZD/USD: September 7, 2016 The NZD/USD pair weakened in relation to the USD, trading at 0.7231 points after the Reserve Bank of Australia held fast to its interest rates and monetary policies. The NZD might increase after the release of data from the GlobalDairyTrade auction tonight, where there is an expected surge in the prices of milk powder. Traders and speculators are now monitoring the data for wholesale trade for the second quarter, as well as an update on the RBA’s interest rates. On the other hand, borrowers are expecting even lower interest rates following low inflation rates. Statistics New Zealand released a report last Monday showing that the Consumer Price Index went up by 0.4% as of June 30. The RBA is predicting that inflation rates would go up by 0.6%, and economists are now expecting the bank to cut down its cash rates by up to 2%. Westpac has also stated that based on the market prices of financial products, there is now an 80% chance of the RBA cutting down the OCR by up to 70% prior to the release of rates.

The current contest has already started on September 5, 2016 and will end on September 9, 2016. You can register for the next competition which will take place from September 12, 2016 to September 16, 2016 (Terminal time). . Note: Registration for the next competition finishes 1 hour before the contest starts.