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Daily Forex Reports


USDJPY Uptrend Reversal (August 28, 2014)

Daily Forex Reports | by Kate Curtis | Thursday, 28 August 2014 08:46 UTC
After rallying strongly last week, it appears that USDJPY could be in for a reversal as a head and shoulders pattern can be seen on its 1-hour forex chart. Price is currently testing the neckline of the formation, still pending a breakdown and confirmation for the potential selloff. ...

USD/JPY Forecast August 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 28 August 2014 06:08 UTC
The USD/JPY pair fell during the course of the day on Wednesday, testing the bottom of the hammer from the Tuesday session. Because of this, we feel that the market is probably going to grind in this general vicinity trying to pick up more upward momentum. We are looking for supportive candles in or ...

USD/CAD Forecast August 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 28 August 2014 06:07 UTC
The USD/CAD pair fell hard during the course of the day on Wednesday, breaking below the 1.09 handle, and even below the 1.0850 level during the day. With this, it looks like the market is ready to go looking for support at lower levels, which is what we had anticipated seeing. With that, we are loo ...

GBP/USD Forecast August 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 28 August 2014 06:07 UTC
The GBP/USD pair tried to rally during the course of the day on Wednesday, but as you can see struggled to go to much higher than we started. The 1.66 level continues to offer resistance, and as a result we have formed three shooting stars in a row. This is in fact a very negative sign, and as a res ...

EUR/USD Forecast August 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 28 August 2014 06:06 UTC
The EUR/USD pair as you can see rose during the course of the session on Wednesday, testing the 1.32 level. The area has been resistive, and you can see that the gap lower that happened at the beginning of the week is still in effect, and it should be resistance though so as far as we can see, it sh ...

AUD/USD Forecast August 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 28 August 2014 06:05 UTC
The AUD/USD pair rose during the course of the day on Wednesday, but still remains just underneath the 0.9350 level. That level has been the top of the recent consolidation area, and as a result we feel that this market isn’t quite ready to be traded yet. We see the bottom of the consolidation are ...

USDCAD Reversal Formation (August 27, 2014)

Daily Forex Reports | by Kate Curtis | Wednesday, 27 August 2014 08:31 UTC
USDCAD seems to be exhausted from ts recent climb, as a reversal chart pattern can be seen on its 4-hour time frame. The pair is forming a double top after failing to break past the 1.1000 major psychological level in a couple of attempts. Price has yet to drop to the neckline at 1.0850 before compl ...

USD/JPY Forecast August 27, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 27 August 2014 06:06 UTC
The USD/JPY pair initially fell during the day on Tuesday, but found enough support to turn things back around and form a nice-looking hammer. This is the second hammer in a row on the daily chart, so we feel that the market is ready to go higher soon. With that, we are more bullish than previously, ...

USD/CAD Forecast August 27, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 27 August 2014 06:06 UTC
The USD/CAD pair fell during the course of the day on Tuesday, testing the bottom of the hammer that had formed on Monday. That being the case though, we simply look as if we are going sideways for the time being, and we believe that there is plenty of support down at the 1.09 level. With that, look ...

GBP/USD Forecast August 27, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 27 August 2014 06:05 UTC
The GBP/USD pair initially went higher during the course of the day on Tuesday, only to find the 1.66 level a bit too resistive to continue the move higher. With that, we have formed to shooting stars in a row, meaning that British pound continues to have selling pressure put upon it. If we can get ...

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