Daily Forex Reports
The USD/JPY pair went back and forth during the session on Tuesday, as we continue to meander below the 120 level. However, we think that short-term pullbacks will continue to be buying opportunities. This is a market that should continue to go higher given enough time and as a result we have no int ...
The USD/CAD pair initially fell during the session on Tuesday, dipping well below the 1.25 handle. However, we found enough support below to turn things back around and form a nice-looking hammer. The hammer of course is a very positive sign but when you look at the overall chart, you cannot help bu ...
The GBP/USD pair went back and forth on Tuesday, essentially settling on a slightly negative candle. At the end of the day however, we feel that this market has plenty of support in the neighborhood of the 1.5350 region, and therefore we are buyers on a break of the top of the range. We believe that ...
The EUR/USD pair initially fell on Tuesday, but as you can see turned back around to form a hammer. That hammer of course suggests that we are going to continue to go back and forth, as there was a shooting star for Monday. Ultimately though, we believe that this market is heading back to the 1.11 l ...
The AUD/USD pair went back and forth on Tuesday, essentially establishing nothing. The market right now looks a lot like “dead money”, and as a result we are more than willing to step aside. We believe that the 0.80 level above is still the “ceiling” in this market, so we have no interest wh ...
AUDCAD could be in for a breakout soon, as price is approaching the peak of its symmetrical triangle pattern on the 4-hour time frame. Stochastic is pointing down, indicating that a downside break is likely, although price might still go either way.
An upside break past the .9800 major psycholo ...
EURCAD seems to be bouncing off its recent lows and may be due for a correction to the broken support level at the 1.4100 major psychological level. This lines up with the 38.2% Fibonacci retracement level on the latest swing high and low on the 1-hour forex chart.
If the 1.4100 mark or any of ...
The USD/JPY pair initially fell during the session on Monday, but found enough support to bounce and break above the 120 level. That being the case, the market looks as if it is ready to continue going higher, but keep in mind that there is a lot of noise between the 120 and the 122 levels, so expec ...
The USD/CAD pair went back and forth on Monday, essentially using the 1.25 level as support. However, when you look at the overall marketplace, you can see that a descending triangle seems to be forming. The descending triangle suggests that if we can get below the 1.2350 level, we should continue d ...
The GBP/USD pair fell during the session on Monday, as we head towards the 1.53 handle. If we can break below this level, the market should then head down to the 1.50 and although it should be rather choppy on the way down. That level is massively supportive though, so we do not anticipate that the ...
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