Daily Forex Reports
The USD/JPY pair fell during the majority of the session on Tuesday, but found enough support near the 117.25 level to bounce slightly. Ultimately, this looks like a market that is ready to continue grinding sideways, so therefore we are not interested in trading it at the moment. However, we do bel ...
The USD/CAD pair fell during the course of the day on Tuesday, breaking the back of a hammer from Monday. That essentially makes the hammer from Monday a “handyman”, which of course is a very bearish sign. However, we believe that any fall from here will be bought given enough time, and therefor ...
The GBP/USD pair broke higher during the course of the session on Tuesday, testing the 1.52 level. We believe that this market is still consolidating, so therefore we are not willing to buy it into we get above the 1.53 handle. Any resistive candle in that area should be a selling opportunity, headi ...
The EUR/USD pair broke higher during the course of the session on Tuesday as the Core Durable Goods Orders number came out light in the United States. Because of this, the US dollar sold off and the fact that we have the FOMC announcement coming out during the session today should continue to bring ...
The AUD/USD pair tried to break higher during the course of the session on Tuesday, but as you can see struggled at the 0.80 level. That area was once massive support, and the fact that we have broken down below there and now have formed a resistant candle suggests that we do have a lower prices ahe ...
AUDUSD has previously made a strong break below support at the .8100 major psychological level and dipped below .7900 at the start of this trading week. Price appears to be making a pullback to the area of interest, which lines up with the 50% Fibonacci retracement level and might hold as resistance ...
USDJPY didn’t complete its recent double top pattern and instead bounced off support around the 117.25 level. Price is now on its way to test the top of the range around the 118.25 mark and may be due south if it holds as resistance.
However, it looks like sellers have already jumped in early, as ...
The USD/JPY pair broke higher during the course of the day, but still remains within the consolidation area of that we have been in for some time. With that, we believe that the market still continues look bullish overall, but really at this point time seems to be taking a bit of a break. Ultimately ...
The USD/CAD pair initially fell during the course of the session on Monday, but as you can see bounced enough to form a hammer. That hammer of course suggests that the market is ready to go higher, but we need to get above the 1.25 level in order to have clearance in a market that could go much, muc ...
The GBP/USD pair broke higher during the course of the session on Monday, as the 1.50 level looks a bit like a springboard. The spring board should send this market looking for the 1.53 handle, as it is the top of the recent consolidation area. If we can get above there, the market should then head ...
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