Daily Forex Reports
The USD/JPY pair initially fell during the session on Monday, but found enough support just above the 101 level to turn things back around and form a hammer. This hammer of course is a bullish sign, but we are still shopping around back and forth between 101 and 103. With that, we don’t feel that ...
The USD/CAD pair went back and forth during the day on Monday, essentially settling nothing by the time we closed. The 1.07 level is where we find the market being comfortable now, and as a result we think that is probably going to take a bit of an impulsive move to get above the 1.08 handle, an are ...
The GBP/USD pair fell during the course of the day on Monday, but as you can see remains somewhat afloat, and more importantly supported at the 1.70 handle. We still believe that this market goes higher, and that this pullback will certainly attract buyers as we have been in a pretty significant upt ...
The EUR/USD pair tried to rally during the session on Monday, but as you can see the market failed to hang onto the gains, and we turned around and form a shooting star. The shooting star of course tells us that the market should continue to struggle around this area. If we get below the 1.35 handle ...
The AUD/USD pair fell slightly during the session on Monday, but as you can see we are well supported near the 0.9350 level. Because of this, we feel that the fall will be short-term at best, and as a result we would buy a supportive candle near that region. Ultimately, the real question is whether ...
The USD/JPY pair rose a little bit during the course of the session on Friday, showing the 101 level as support is still. The candle itself isn’t that impressive, but the fact that we hold this area yet again tells us that the market will probably continue to consolidate. Expect tight trading, as ...
The USD/CAD pair fell during the session on Friday, but bounced slightly in order to take back some of the losses. The weekly candle is a shooting star though, and as a result we are not ready to buy until we break above the top of that shooting star candle, which means clearing the 1.08 level. The ...
The GBP/USD pair went back and forth during the session on Friday, but bounced enough to form a hammer. This hammer suggests that the market is going to continue to find buyers every time we drop, and as a result the market will more than likely go higher in trying to break above the 1.72 level, ult ...
The EUR/USD pair initially fell during the course of the day on Friday, but as you can see found quite a bit of support at the 1.35 handle. This area has been supportive for some time now, and is the bottom of a larger consolidation area as far as we can see. The 1.37 level above is the resistance a ...
The AUD/USD pair rallied during the session on Friday, but remains within the previous consolidation area so we aren’t necessarily interested in placing money into the market. If we can break above the 0.95 level, we feel that this market would continue much higher, probably heading to the parity ...
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