Daily Forex Reports
The USD/JPY pair rallied during the course of the day on Thursday, testing the 101.75 handle. There is a significant amount of noise just above though, so I feel sooner or later the sellers will probably return. I prefer to buy this pair on dips, so I’m not going to short as I believe that the Ban ...
After a major negative candle during the session on Wednesday, the USD/CAD pair bounced a bit as oil markets calmed down. Ultimately, oil markets are reacting to the possible OPEC output cut, and as a result there should be a stronger demand input. However, when I look at this chart I recognize that ...
The GBP/USD pair initially tried to rally during the course of the session on Thursday but then turned around to form a fairly negative candle. I do recognize that there is a bit of support just below, but eventually I think we not only grind lower than here, but lower than the 1.2850 level as well. ...
The EUR/USD pair initially fell during the course of the day on Thursday, but then turned right back around to form a hammer. This coincides with the hammer from Wednesday, so at this point in time I do think that the buyers are starting to gain more strength. However, you can see that I have a down ...
The AUD/USD pair had a fairly negative candle during the day as we continue to run into quite a bit of resistance near the 0.77 handle. With this being the case, I feel that the market is probably going to be a bit difficult to deal with right now, and I am remaining on the sidelines. It does have a ...
EURAUD was previously trading inside an ascending channel on its 4-hour time frame before breaking lower and showing that a reversal is due. Price has found support near the 1.4600 mark and has pulled up from its dive to retest the broken channel bottom around the 1.4700 major psychological level.
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The EUR/JPY pair initially tried to rally during the day on Wednesday, but turned around to form a bit of a shooting star. Ultimately though, the 100 level below is massively supportive and as that is the case, I think they will eventually find enough buyers in that region for the markets turned aro ...
The USD/CAD pair rose during the course of the session on Wednesday, breaking above the 1.32 level significantly. However, we have to get above the top of the session for Tuesday, and once we get above there, I feel the market should then go to the 1.35 level. Pullbacks offer support all the way dow ...
The GBP/USD pair went back and forth during the course of the session on Wednesday, showing a fairly neutral candle. At this point in time, it appears that the 1.30 level is a bit of a magnet for price, and having said that it’s only a matter of time before we have to make a serious decision. I th ...
The EUR/USD pair went back and forth and form a bit of a negative candle, with a neutral tone as well. With this being the case, I think we continue to grind lower, but at this point in time I’m not expecting any type of major move. Short-term rallies that show signs of exhaustion are selling oppo ...
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