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Daily Forex Reports


AUD/USD Forecast February 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 05 February 2016 07:48 UTC
The AUD/USD pair rallied during the session on Thursday but pullback enough to form a bit of a shooting star. The shooting star sits right at the 0.72 handle, and of course the previous uptrend. Because of this, we feel that it is not until we break above the top of the range for the session on Thur ...

USDCAD Long-Term Uptrend (Feb 5, 2016)

Daily Forex Reports | by Kate Curtis | Friday, 05 February 2016 03:57 UTC
USDCAD has been selling off lately but it is closing in on the rising trend line visible on the daily time frame. Price could make a test of the 1.3500-1.3600 support area, which is in line with the 61.8% Fibonacci retracement level based on the latest swing high and low.   In addition, the long- ...

EURGBP Range Retracement (Feb 4, 2016)

Daily Forex Reports | by Kate Curtis | Thursday, 04 February 2016 04:48 UTC
EURGBP recently broke to the upside of its long-term range pattern visible on the daily time frame then zoomed up to the .7750 minor psychological level before showing signs of a pullback. Using the Fib tool on the swing high and low shows that the 38.2% to 50% levels line up with the broken range r ...

USD/JPY Forecast February 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 03 February 2016 05:56 UTC
The USD/JPY pair fell significantly during the course of the session on Tuesday, as it appears we are trying to find significant support below. There is quite a bit of support at the 118.50 level, but quite frankly we don’t even know that were going to get all the way down to that area. If we get ...

USD/CAD Forecast February 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 03 February 2016 05:56 UTC
The USD/CAD pair tried to rally during the course of the session on Tuesday, but turned back around to form a bit of a shooting star. That being the case, the market looks as if it is trying to fall but we see the 1.38 level below as the bottom of a big supportive section and should continue to keep ...

GBP/USD Forecast February 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 03 February 2016 05:55 UTC
The GBP/USD pair initially fell during the day on Tuesday, but turned back around to form a bit of a hammer. The hammer is suggesting that the market is going to try to reach above the 1.45 level. If and when it does, is very likely that this market will continue to go towards the 1.40 level. A brea ...

EUR/USD Forecast February 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 03 February 2016 05:54 UTC
The EUR/USD pair went back and forth during the course of the day on Tuesday, as we struggled above the 1.09 region. Because of this, looks like we may pullback and continue the overall consolidation that we’ve seen for some time. The 1.08 level below has been massively supportive, so at this poin ...

AUD/USD Forecast February 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 03 February 2016 05:54 UTC
The AUD/USD pair fell during the day on Tuesday, as it looks like we are starting to roll over a little bit. Because of this, we are sellers on a break down below the bottom of the range for the day, and we think that eventually we will break down below the 0.70 level. If we do that, the market shou ...

EURUSD Potential Breakout (Feb 3, 2016)

Daily Forex Reports | by Kate Curtis | Wednesday, 03 February 2016 03:48 UTC
EURUSD has been consolidating lately, forming higher lows and lower highs to create a symmetrical triangle pattern on its 4-hour time frame. Price is currently testing the top of the pattern, which might continue to hold as resistance.  If so, EURUSD could move back to the bottom of the pattern at ...

EURGBP Descending Triangle (Feb 2, 2016)

Daily Forex Reports | by Kate Curtis | Tuesday, 02 February 2016 03:21 UTC
EURGBP is in a consolidation pattern and is currently testing the bottom of a descending triangle formation visible on the 1-hour time frame. Price appears to be bouncing off support at the .7550 minor psychological mark and might be due for a test of resistance at the .7600 level.  This resistanc ...

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