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Daily Forex Reports


USDJPY Downtrend Channel (Jan 20, 2017)

Daily Forex Reports | by Kate Curtis | Friday, 20 January 2017 06:39 UTC
USDJPY continues to trend lower on its 1-hour time frame, moving inside a descending channel connecting the latest highs and lows. Price is currently bouncing off the channel resistance at the 115.50 minor psychological level and could be due for a selloff to the support at 112.00 or at least until ...

USD/JPY Forecast January 20, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 20 January 2017 06:18 UTC
The USD/JPY pair broke higher on Thursday, clearing the 115 handle again. This looks as if it is a sign that the market is going to continue to go to the upside, and thus we will reach towards the 118.50 level. I believe that pullbacks will continue to offer opportunities to pick up value, as the ...

USD/CAD Forecast January 20, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 20 January 2017 06:18 UTC
The USD/CAD pair broke out to the upside, slicing through the previous uptrend. The massive green candle suggests that we are going to continue to see quite a bit of volatility. If we can break above the top of the candle for the session on Thursday, the market should continue to go higher. Pullba ...

GBP/USD Forecast January 20, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 20 January 2017 06:17 UTC
The GBP/USD para rallied a bit during the session on Thursday, as we continue to grind sideways overall. At this point, it looks as if the markets are trying to figure out where to go next, but I do see a significant amount of resistance at the 1.25 handle. If we can break above there, the market ...

EUR/USD Forecast January 20, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 20 January 2017 06:15 UTC
The EUR/USD pair initially tried to rally during the day on Thursday, but turned around to show signs of weakness. The 50-day exponential moving average is now looking to offer resistance, this being the case, the market will then probably drop down to the 1.05 level. Ultimately, I believe that th ...

AUD/USD Forecast January 20, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 20 January 2017 06:14 UTC
The Australian dollar rallied on Thursday, showing that the 0.75 level as support. As we continue to grind back and forth just above the 0.75 level again as we see so much in the way of volatility and decision-making. I believe that we’re trying to build up enough momentum to go higher, but if w ...

GBPJPY Downtrend Retracement (Jan 19, 2017)

Daily Forex Reports | by Kate Curtis | Thursday, 19 January 2017 06:28 UTC
GBPJPY has been trending lower since breaking below the head and shoulders neckline recently. Price has reached a low of 136.40 before pulling up and showing signs of a correction. Applying the Fib tool on the latest swing high and low shows that the 50% level coincides with the descending trend lin ...

USD/JPY Forecast January 19, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 19 January 2017 06:11 UTC
The US dollar bounced a bit against the Japanese yen, but gave back some of the gains towards the end of the session. Given enough time, I think we get a supportive daily candle, but I don’t think this is going to be at. The 111.50 level underneath should be a massive support level, and because ...

USD/CAD Forecast January 19, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 19 January 2017 06:10 UTC
The USD/CAD pair rallied on Wednesday, as the 1.30 level should continue to be supportive. If we bounce from here, I think it’s only a matter of time before the sellers get involved again. Alternately though, if we can break above the previous uptrend line, I feel that the market will go higher. ...

GBP/USD Forecast January 19, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 19 January 2017 06:09 UTC
The British pound fell on Wednesday, but found enough support near the 1.2250 level to form a slightly supportive looking candle. The 1.25 level above is massively resistive, so I think somewhere near that area the sellers could get involved, but if we see an exhaustive candle in that area, I feel ...

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