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Daily Forex Reports


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 ...

GBP/USD Forecast October 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 28 October 2014 06:17 UTC
The GBP/USD pair initially rallied during the session on Monday, but as you can see pullback to form a shooting star. Because of this, the market could very well drop from here but we recognize that the weekly chart looks like it’s trying to form some type of base. If we can get above the 1.62 lev ...

EUR/USD Forecast October 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 28 October 2014 06:16 UTC
The EUR/USD pair went back and forth during the course of the day on Monday, essentially going nowhere. We continue to struggle at the 1.27 level, and as a result it’s very likely that the sellers are about to step back into this marketplace and make their presence be known. Even if we rally from ...

AUD/USD Forecast October 28, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 28 October 2014 06:15 UTC
The AUD/USD pair did very little during the course of the day on Monday, as we continue to meander around the 0.88 level. This area is essentially the “Ground Zero” of the consolidation area that we have been stuck in for some time. We believe that there is a significant amount of resistance all ...

USDCHF Retracement Play (Oct 27, 2014)

Daily Forex Reports | by Kate Curtis | Monday, 27 October 2014 06:55 UTC
USDCHF has been in a strong climb recently, even breaking past a key resistance area around the .9500 handle. However, the pair seems to have lost steam and may be due for a pullback to the area of interest. Using the Fib tool on the latest price swing indicates that the 50% Fibonacci level lines u ...

USD/JPY Forecast October 27, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 25 October 2014 13:02 UTC
The USD/JPY pair went back and forth during the course of the day on Friday, essentially settling nothing. However, we have broken out above the 107.50 level, and as a result we believe that the market does in fact continue to go higher given enough time. We believe that the market will ultimately t ...

USD/CAD Forecast October 27, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 25 October 2014 13:02 UTC
The USD/CAD pair initially fell during the session on Friday but found the 1.12 level to be supportive enough to form a hammer. The hammer of course suggests that the market is going to bounce from here, but ultimately we believe that the market continues to go higher, heading to the 1.14 handle in ...

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