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Daily Forex Reports


GBP/USD Forecast October 16, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 16 October 2014 05:44 UTC
The GBP/USD pair broke higher on Wednesday, as the US dollar sold off against most currencies. However, the British pound did run into a bit of trouble at the 1.60 level, as we are closing just and that handle. We believe that there is still a significant amount of downward pressure in this market, ...

EUR/USD Forecast October 16, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 16 October 2014 05:43 UTC
The EUR/USD pair broke higher during the course of the day on Wednesday, breaking above the 1.28 level. However, we are starting to see a bit of resistance just above it, so we are simply waiting for some type of resistant candle in order to start selling again as it is with the longer-term trend. W ...

AUD/USD Forecast October 16, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 16 October 2014 05:42 UTC
The AUD/USD pair broke higher during the course of the day on Wednesday, clearing the 0.88 level but not clearing the resistance above. Because of this, we are still suspicious of the Australian dollar, and although we know that gold is on the precipice of making a break out to the upside, we are st ...

USDCAD Short-Term Pullback (Oct 16, 2014)

Daily Forex Reports | by Kate Curtis | Thursday, 16 October 2014 03:43 UTC
USDCAD has recently broken past the 1.1200 major psychological resistance and zoomed close to the 1.1400 handle in the past weeks, before showing signs of a retracement. Price is now retreating back to the 1.1200 area, which lines up with the moving averages and the Fibonacci levels. In particular, ...

USD/JPY Forecast October 15, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 15 October 2014 07:38 UTC
The USD/JPY pair initially fell during the day on Tuesday, but found enough support at the 107 level in order to form a hammer. The hammer of course suggests that we could bounce from here, and as a result a break above the top of the hammer has us thinking that it’s time to start buying the US do ...

USD/CAD Forecast October 15, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 15 October 2014 07:38 UTC
The USD/CAD pair broke higher during the course of the session on Tuesday, clearing the most recent high that this market has made. Because of that, the market touched the 1.13 level, and looks very bullish all of a sudden. Short-term pullbacks should offer buying opportunities as the Canadian dolla ...

GBP/USD Forecast October 15, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 15 October 2014 07:37 UTC
The GBP/USD pair broke down during the course of the day on Tuesday, testing the 1.59 level. That level of course offers last vestiges of support, but if we break down below there we should head to the 1.55 level. That of course would be very bearish move, but it appears that the US dollar will cont ...

EUR/USD Forecast October 15, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 15 October 2014 07:36 UTC
The EUR/USD pair fell during the course of the day on Tuesday, testing the 1.2650 level for support. However, we believe that this market will ultimately go back down to the 1.25 handle, an area of significant support. If we get below there, we feel that the market should go down to the 1.20 handle, ...

AUD/USD Forecast October 15, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 15 October 2014 07:35 UTC
The AUD/USD pair fell hard during the course of the day on Tuesday, showing the 0.88 level as been resistance. Because of this, it appears that the market is going to try to go down to the 0.8650 level. That area is significant support, and as a result if we get below there we would be massive selle ...

EURUSD Double Top Formation (Oct 15, 2014)

Daily Forex Reports | by Kate Curtis | Wednesday, 15 October 2014 06:38 UTC
EURUSD may be in for another set of losses, as the pair formed a reversal chart pattern on its 1-hour time frame. A double top formation can be seen, with price nearing the neckline around the 1.2600 major psychological support. Stochastic is indicating oversold conditions though, which suggests th ...

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