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Daily Forex Reports


EURUSD Rising Channel (June 23, 2016)

Daily Forex Reports | by Kate Curtis | Thursday, 23 June 2016 04:14 UTC
EURUSD seems to have bullish momentum on its side at the moment, as price is moving inside an ascending channel and bouncing off support. A test of the channel resistance at 1.1600 could be underway but there's nearby resistance at the top of a longer-term range around 1.1450.  A break above the r ...

USD/JPY Forecast June 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 22 June 2016 05:53 UTC
The USD/JPY pair broke higher during the course of the session on Tuesday, but as you can see the 105 level continues to be resistive. Because of this, I’m waiting to see whether or not we get an exhaustive candle that I can start selling, probably off of the short term charts. Ultimately, this is ...

GBP/USD Forecast June 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 22 June 2016 05:52 UTC
The GBP/USD pair initially rallied during the course of the day on Tuesday, but found the 1.48 level above was resistive enough to turn things back around completely. Because of this, we formed a very negative candle and it looks as if we have finally exhausted the rally that has occurred in this ma ...

EUR/USD Forecast June 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 22 June 2016 05:51 UTC
The EUR/USD pair initially tried to rally during the day on Tuesday but turn right back around to form a very negative candle. We broke down through the gap that formed during the Monday session, and as a result it looks like the sellers are starting to take complete control. This makes a lot of sen ...

AUD/USD Forecast June 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 22 June 2016 05:51 UTC
The AUD/USD pair initially tried to rally during the course of the session on Tuesday, but struggled at the 0.75 level ended up turning things back around and form a shooting star in order to show signs of weakness. I believe that the yellow box that’s on this chart will continue to be the trading ...

EURAUD Descending Channel (June 22, 2016)

Daily Forex Reports | by Kate Curtis | Wednesday, 22 June 2016 02:26 UTC
EURAUD has been trending lower, moving inside a descending channel on its 4-hour time frame. Price is currently testing the channel support and might be due for a bounce back to the resistance at the 1.5200 major psychological level.  The 100 SMA is below the 200 SMA, which suggests that the downt ...

USD/JPY Forecast June 21, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 21 June 2016 06:27 UTC
USD/JPY initially rallied during the day on Monday, but then turned right back around to form a fairly negative candle. That of course gives us an opportunity to sell this market on short-term rallies as they appear. The market should then reach towards the 102 level, and then possibly even the 100 ...

USD/CAD Forecast June 21, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 21 June 2016 06:27 UTC
The USD/CAD pair gapped lower at the open on Monday, and drifted a little bit lower. Ultimately, this is a market that should continue to fall towards the 1.2650 level next, and then perhaps even lower. Remember that oil markets have a massive influence on the Canadian dollar, so having said that th ...

GBP/USD Forecast June 21, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 21 June 2016 06:26 UTC
The GBP/USD pair initially fell during the course of the day and then turn right back around to break out to the upside. However, there is still more than enough resistance at the 1.48 level to keep this market somewhat soft, and this was initially a “knee-jerk reaction” to the latest polling da ...

EUR/USD Forecast June 21, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 21 June 2016 06:25 UTC
The EUR/USD pair initially tried to rally during the day on Monday as we gapped at the open, but at the end of the day we did up turning right back around and filling that gap. At this point in time, you have to think that there is a slight advantage for the Euro because it’s not uncommon to fill ...

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