Daily Forex Reports
NZD/USD is in a strong uptrend on its short-term time frame, boosted by rate hike expectations in this week’s RBNZ interest rate decision. Earlier today, New Zealand Prime Minister John Key remarked that rates need to return to normal levels sooner or later.
The pair has recently broken above ...
The USD/JPY pair initially fell during the first part of the Monday session, but as you can see spent the rest of the day bouncing in order to form a hammer. This hammer is situated at the 103 level, so we feel that the market is sending a signal that we are in fact going to continue going higher. W ...
The USD/CAD pair rose during the session on Monday, but found enough resistance to turn back around and form a shooting star. While this is technically a bearish sign, we believe that it is simply a hens that the market wants to continue consolidating. With that, we still buy on dips, and will be lo ...
The GBP/USD pair fell during the session on Friday, but found enough support near the 1.6650 handle to bounce slightly at the end of the day. With that, we feel that this market continues to grind sideways, ultimately breaking higher though as the bullishness should continue. However, the recent mov ...
The EUR/USD pair went back and forth during the session on Monday, as we continue to struggle with the downtrend line that forms the channel going lower from the start of the financial crisis. I have stated repeatedly that this area matters, and as a result I believe that the intelligent trader will ...
The AUD/USD pair fell during the session on Monday, but remains above the 0.90 handle. We do see a significant amount of support all the way down to the 0.9 handle, so any type of supportive candle between here and there would have us buying this market as the Australian dollar should continue to pi ...
The USD/JPY pair shot higher during the session on Friday, but as you can see pulled back to give most of the gains away. The resulting candle is a little bit of the shooting star, but at the end of the day we don’t believe that this pair can be sold. We are longer-term bullish of this pair anyway ...
The USD/CAD pair rose drastically during the session on Friday, as the nonfarm payroll numbers came out stronger than anticipated. However, we are still well below the 1.12 level, the area that we need to see broken out to the upside in order to feel that the market is ready to go to the 1.15 level, ...
The GBP/USD pair rallied at first during the session on Friday, but as you can see turned back around to form a shooting star. Although this is a very bearish candle, we believe that this pair is essentially going to continue to grind sideways, and we expect to see support at the 1.66 handle. We hav ...
The EUR/USD pair broke above a downtrend line during the session on Friday, but turn things back around and formed a shooting star. Because of this, we feel that the markets probably going to pull back to the 1.38 level, where it should find plenty of support. If it does in fact find support there, ...
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