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Daily Forex Reports


USD/CAD Forecast November 30, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 30 November 2016 06:42 UTC
The USD/CAD pair rallied on Tuesday, but found a bit of resistance at the 1.35 level above. Because of this, the market looks likely to continue to chop around in general, as we are trying to build up momentum to continue to the upside. The 1.34 level below continues offer massive support, and thus ...

USD/JPY Forecast November 30, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 30 November 2016 06:41 UTC
The USD/JPY pair rallied during the day on Tuesday, breaking above the 112.50 level during the day. Ultimately, this is a market that will continue to try to go higher, but it’s likely that we need a pullback in order to find enough momentum to continue to go higher. After all, we are overbought ...

AUD/USD Forecast November 30, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 30 November 2016 06:40 UTC
The AUD/USD pair fell during the Tuesday session, but found buyers below the 0.7450 level. We are testing the 0.75 handle, which I believe will be rather resistive. If we see gold markets bounce, then we will more than likely see the same thing here. On the other hand, if we can break down below t ...

USDCAD Descending Channel (Nov 30, 2016)

Daily Forex Reports | by Kate Curtis | Wednesday, 30 November 2016 04:53 UTC
USDCAD is still trending lower, moving inside a descending channel on its 1-hour chart and bouncing off resistance. Price is now making its way back down towards support at the 1.3300 to 1.3350 area, although it could encounter a near-term floor at 1.3400.   The moving averages are oscillating so ...

AUD/USD Forecast November 29, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 29 November 2016 06:30 UTC
The AUD/USD pair rallied on Monday, testing the 0.75 level above. This is the top of a significant resistance barrier, which is essentially a “zone.” I think that given enough time will get an exhaustive candle that we can start selling, but we don’t have it yet. Short-term traders may be al ...

USD/JPY Forecast November 29, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 29 November 2016 06:27 UTC
The USD/JPY pair initially fell on Monday but found enough buyers near the 111 area to turn things around and form a bit of a hammer. A break above the top of the hammer is a bullish sign, but quite frankly this is a market that is far too overbought for me to be excited about anymore. I want to s ...

USD/CAD Forecast November 27, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 29 November 2016 06:26 UTC
The USD/CAD pair broke down during the session on Monday, as we continue to consolidate between the 1.34 level on the bottom, and the 1.3550 level on the top. Given enough time, I believe that the market will try to bounce but we need to see the oil markets rollover in order to help this particula ...

GBP/USD Forecast November 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 29 November 2016 06:25 UTC
The GBP/USD pair initially tried to rally on Monday but found the 1.25 level to be far too resistive. Ultimately, this is a market that continues to bounce around just below that handle so I really don’t have any interest in trading this market at the moment. Given enough time, we should get som ...

GBPUSD Short-Term Range (Nov 29, 2016)

Daily Forex Reports | by Kate Curtis | Tuesday, 29 November 2016 03:25 UTC
GBPUSD has been moving sideways, finding support around 1.2365 and resistance at the 1.2500 major psychological level. Price is making its way back to support after a recent bounce from the top of the range.   The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the ...

USDJPY Short-Term Correction (Nov 28, 2016)

Daily Forex Reports | by Kate Curtis | Monday, 28 November 2016 06:21 UTC
USDJPY is trending higher on its 1-hour chart, moving above an ascending trend line connecting the latest lows of price action. Price is currently testing this support area, which lines up with the 61.8% Fibonacci retracement level and the 100 SMA dynamic inflection point. A bounce off this trend l ...

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