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Daily Forex Reports


AUD/USD Forecast December 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 08 December 2016 07:38 UTC
The AUD/USD pair initially fell on Wednesday, but turned around to form a nice-looking hammer. It appears that we are trying to break above the 0.75 level, which has been massively resistive. If we can break above there, market should then reach towards the bottom of the uptrend line. This of cour ...

GBPJPY Ascending Trend Line (Dec 08, 2016)

Daily Forex Reports | by Kate Curtis | Thursday, 08 December 2016 06:48 UTC
GBPJPY sold off recently but is still trading above an ascending trend line connecting the latest lows of price action on the 1-hour chart. Price is gearing up for a test of the support level, which lines up with the Fib levels. In particular, the 50% level is close to the 142.50 minor psychological ...

USD/JPY Forecast December 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 07 December 2016 06:58 UTC
The USD/JPY pair was very choppy over the course of the session on Tuesday, but did find a bit of a bullish sign. A break above the 115 handle is what’s needed for a continues move higher at this point. However, I believe that the market needs to pullback to build up any true momentum, so I’m ...

USD/CAD Forecast December 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 07 December 2016 06:57 UTC
The US dollar went back and forth during the day on Tuesday, showing signs of support below. The 1.32 level is massively supportive, so we can break above the top of the candle for the session on Tuesday, we should continue to go higher, perhaps reaching towards the 1.35 level above. I believe tha ...

GBP/USD Forecast December 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 07 December 2016 06:57 UTC
The British pound initially tried to rally on Tuesday but found enough resistance above to turn things around and form a bit of a shooting star. Because of this, it’s likely that the markets will break down from here and perhaps try to find buyers below. What I find particularly interesting is t ...

EUR/USD Forecast December 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 07 December 2016 06:55 UTC
The EUR/USD pair initially rallied on Tuesday, but turned around at the 1.08 level. This is an area that has seen some resistance in the past, and should now continue to fall from here. The market reacted that quite out of sorts after the Italian referendum. This is a market that has been desperat ...

AUD/USD Forecast December 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 07 December 2016 06:54 UTC
The AUD/USD pair fell during the day on Tuesday, as we continue to see quite a bit of resistance near the 0.75 handle. A break down below the bottom of the candle should continue to send this market lower. I believe that the market will then reach towards the 0.73 handle. Pay attention to gold, be ...

GBPUSD Uptrend Correction (Dec 07, 2016)

Daily Forex Reports | by Kate Curtis | Wednesday, 07 December 2016 06:47 UTC
Cable has been trending higher recently, moving inside an uptrend channel visible on its 1-hour chart. Price just hit the top of the channel and is showing signs of a pullback to support at the 1.2500 major psychological support. Applying the Fib tool on the latest swing low and high shows that the ...

EURUSD Short-Term Pullback (Dec 06, 2016)

Daily Forex Reports | by Kate Curtis | Tuesday, 06 December 2016 05:52 UTC
EURUSD made such a strong rally in recent trading and might be due for a quick pullback ahead of top-tier events. Applying the Fib tool on the latest swing high and low on the 1-hour chart shows that the 50% level lines up with the broken near-term resistance at the 1.0650 minor psychological level. ...

USDCAD Downtrend Pullback (Dec 05, 2016)

Daily Forex Reports | by Kate Curtis | Monday, 05 December 2016 06:33 UTC
USDCAD is trending lower, moving inside a descending channel on its 1-hour time frame. Price just bounced off the channel support and is making its way up to the resistance at the 1.3400 major psychological level.   The 100 SMA is below the longer-term 200 SMA so the path of least resistance is t ...

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