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Daily Forex Reports


AUDUSD Descending Channel (Aug 25, 2016)

Daily Forex Reports | by Kate Curtis | Thursday, 25 August 2016 02:20 UTC
AUDUSD has been trending lower on its 1-hour time frame, moving inside a descending channel formation. Price is trading around the middle, though, still deciding whether to test the resistance at .7625 or support at .7550. The 100 SMA is below the 200 SMA so the path of least resistance is to the d ...

USD/JPY Forecast August 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 24 August 2016 07:39 UTC
The USD/JPY pair struggled a bit during the course of the day but did find enough support at the 100 level to turn things back around and form a strong hammer. The hammer of course is a bullish sign, and I think at this point time if we can break above the top of that hammer it is a buying opportuni ...

USD/CAD Forecast August 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 24 August 2016 07:38 UTC
The USD/CAD pair fell significantly during the day on Tuesday as the bullish inventory numbers came out of the United States supporting oil markets. By doing so, traders flooded into this market and pushed the value the Canadian dollar higher as they typically do. Ultimately, this is a market that s ...

GBP/USD Forecast August 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 24 August 2016 07:37 UTC
The GBP/USD pair rose during the course of the day here on Tuesday, but still has quite a bit of resistance above that could come into play. That being the case, and exhaustive candle above will be a nice selling opportunity. With this being the case, I’m simply waiting to see whether or not we ge ...

EUR/USD Forecast August 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 24 August 2016 07:36 UTC
The EUR/USD pair initially tried to rally during the course of the session on Monday, but then broke down at the 1.1350 level. By doing so, it looks as if we are going to continue to be choppy, but given enough time I think there is enough momentum underneath to continue to try to break above the to ...

AUD/USD Forecast August 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 24 August 2016 07:35 UTC
The AUD/USD pair initially tried to rally but we turn right back around to form a shooting star. The shooting star of course is a negative sign. A break down below the bottom of the shooting star suggests that the market is going to possibly drift lower. If we can break above the 0.7675 handle above ...

EURGBP Pullback to Channel Support (Aug 24, 2016)

Daily Forex Reports | by Kate Curtis | Wednesday, 24 August 2016 02:31 UTC
EURGBP has been moving in an ascending channel visible on its longer-term time frames and is just testing the resistance. Price seems to be making a correction from the uptrend at this point and applying the Fib tool on the latest swing high and low shows that the 61.8% Fib lines up with the channel ...

USD/JPY Forecast August 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 23 August 2016 06:49 UTC
The USD/JPY pair initially tried to rally during the day on Monday, but then turn right back around to reach towards the 100 level. The 100 level of course has a large, psychologically significant amount of weight in this market, so having said that it’s likely that the Bank of Japan will get invo ...

USD/CAD Forecast August 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 23 August 2016 06:48 UTC
The USD/CAD pair rose during the course the day on Monday, but started the fell a bit at the uptrend line that had recently been broken. I also recognize the 1.30 level above as being resistive as well, so I’m waiting to see whether or not we have an exhaustive candle in order to start selling aga ...

GBP/USD Forecast August 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 23 August 2016 06:47 UTC
The British pound did rally a bit during the course of the day on Monday, using the 1.30 level as a support barrier. That being the case, looks as if sooner or later we should find sellers above as we continue to simply go back and forth in the recent consolidation area. If we rally from here, there ...

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