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Daily Forex Reports


CADJPY Countertrend Setup (Oct 30, 2014)

Daily Forex Reports | by Kate Curtis | Thursday, 30 October 2014 05:54 UTC
CADJPY is in a rising channel on its 1-hour time frame but is already nearing the top of the range. Resistance at the 97.50-98.00 area might hold and push the pair back to the bottom of the channel.   Stochastic is already in the oversold area, which means that buying pressure is about to wane so ...

USD/JPY Forecast October 30, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 30 October 2014 05:32 UTC
The USD/JPY pair initially fell during the course of the day on Wednesday, but after a hearty statement by the Federal Reserve, this pair went higher and broke out to the upside. It now seems almost a sure thing that we are going to the 110 level, although there may be a bit of resistance between he ...

USD/CAD Forecast October 30, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 30 October 2014 05:31 UTC
The USD/CAD pair went higher during the session on Wednesday after the Federal Reserve released a more hawkish than anticipated statement. We broke back above the 1.12 level, but there is a significant amount of resistance just above that area so even though we are bullish of this pair, we recognize ...

GBP/USD Forecast October 30, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 30 October 2014 05:30 UTC
The GBP/USD pair fell hard during the course of the day on Wednesday after the Federal Reserve released a fairly hawkish statement. However, the 1.60 level is significant support, so one has to wonder whether or not we will bounce from there. At the time of writing, this candle is very negative, so ...

EUR/USD Forecast October 30, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 30 October 2014 05:29 UTC
The EUR/USD pair initially tried to rally during the course of the day on Wednesday, but a stronger and more hawkish than anticipated statement coming out of the Federal Reserve of course sent this market lower as people buy the us dollar. We believe that the market should continue to go lower down ...

AUD/USD Forecast October 30, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 30 October 2014 05:29 UTC
The AUD/USD pair initially tried to break out during the session on Wednesday, but with the Federal Reserve stepping in and releasing a hawkish statement, the market broke back down below the 0.88 level during the day. Because of this, we believe that the Australian dollar will continue to break dow ...

EURJPY Double Bottom Breakout (Oct 29, 2014)

Daily Forex Reports | by Kate Curtis | Wednesday, 29 October 2014 03:58 UTC
The downtrend on EURJPY seems to be over, as price formed a double bottom pattern on its 1-hour time frame and broke past the neckline resistance around 137.00. The pair is climbing past the 138.00 handle and may have a couple hundred more pips to go.   As you can see, the chart pattern spans fro ...

CADJPY Ascending Trend Channel Support (Oct 28, 2014)

Daily Forex Reports | by Kate Curtis | Tuesday, 28 October 2014 06:20 UTC
CADJPY has been forming an ascending trend channel on its 1-hour forex chart, as it made higher highs and higher lows. A bullish divergence can be seen, with stochastic making lower lows. MACD is also reflecting a pickup in buying momentum, as the indicator seems to be climbing. This could lead to ...

USD/JPY Forecast October 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 28 October 2014 06:20 UTC
The USD/JPY pair fell during the course of the day on Monday, but found enough support at the 107.50 level to turn things back around and form a nice-looking hammer. This was an area that we had broken out of recently, and the fact that the resistance has been smashed and now is starting to look lik ...

USD/CAD Forecast October 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 28 October 2014 06:19 UTC
The USD/CAD pair rose during the course of the day on Monday, using the 1.12 level for support yet again. We remain bullish of this market, but realize that we will probably just go sideways overall between the 1.12 level on the bottom, and the 1.14 level on the top. We will continue to buy dips, an ...

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