Daily Forex Reports
CAD/JPY has been moving inside a descending triangle pattern on its daily forex time frame, as price made lower highs and found support at the 92.00 major psychological level.
The pair has just come off a test of resistance and may be heading back down for another test of support, although stochast ...
The USD/JPY pair rose during the course of the day on Monday, but as you can see we are still struggling to get above the 102 level. Because of this, we feel that this market probably has the ability to go higher, but quite frankly we are more comfortable buying on a slight pullback to show signs of ...
The USD/CAD pair initially tried to rally during the day on Monday, but as you can see fell back down towards the 1.08 handle. The level course has been supportive in the past, and now that we are broken above it, technical analysis dictates that we need to try to see whether or not there is actual ...
The GBP/USD pair went back and forth during the day on Monday, but found the 1.70 level to be resistive enough to keep the market somewhat down. Because of this, we feel that the market will more than likely continue to struggle going higher, but if we can clear the aforementioned 1.70 handle, we wo ...
In the EUR/USD pair tried to rally during the course of the day on Monday, but as you can see gave back most of the gains. In the end, we ended up forming a shooting star which is a very bearish candle, and even more so when it comes at the bottom of a downtrend. This means that the buyers couldn’ ...
The AUD/USD pair initially fell during the course of the day on Monday, but as you can see found enough support below to turn things back around and form a nice-looking hammer. This hammer of course suggests that the market is going to go higher, and as a result we think that the Australian dollars ...
AUD/USD has been making higher lows and finding resistance at the .9460 area, creating an ascending triangle on its 4-hour time frame. The pair just found resistance at the top of the triangle and is on its way to test the bottom, which might continue to hold as support.
Stochastic is already in th ...
The US Dollar has rallied during this week’s trading session especially gains the Euro and there has been an increase in US Dollar bulls in the market place. The US currency did rally from a very low base and some sort of profit taking was expected. The correction in the EURUSD was more due to wea ...
The USD/JPY pair initially tried to rally during the session on Friday, but as you can see found enough resistance near the 102 level to turn things back around and form a shooting star. That shooting star suggests that the market is going to pull back into the consolidation area, so we are looking ...
The USD/CAD pair broke higher during the course of the day on Friday, slicing through the 1.06 level. This level has been resistive previously, and as a result we feel that this market should continue to go higher now, as the market has broken above a significant barrier now. Now that we are above i ...
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