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Daily Forex Reports


GBP/USD Forecast January 17, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 17 January 2017 07:40 UTC
The British pound gap lower at the open on Monday, testing the 1.20 level underneath. This is an area that should be massively supportive, but I believe we are trying to get down below there, perhaps reaching towards the 1.15 level over the longer term. Any rally now will more than likely offer an ...

EUR/USD Forecast January 17, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 17 January 2017 07:39 UTC
The EUR rallied during the day on Monday, but found enough resistance at the 50-day exponential moving average to turn around and form a less than spectacular candle. I believe that the market is going to continue to drop from here, perhaps reaching towards the 1.05 level. That area should be supp ...

AUD/USD Forecast January 17, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 17 January 2017 07:38 UTC
The AUD/USD pair had a volatile session on Monday, reaching towards the 0.75 level above. This is an area that is resistive, and until we can break above there and it close on a daily chart above it, I have no interest in buying. A breakdown below the bottom of a hammer from the front a session co ...

EURJPY Daily Selloff (Jan 17, 2017)

Daily Forex Reports | by Kate Curtis | Tuesday, 17 January 2017 06:36 UTC
EURJPY has been trending lower on its daily time frame, moving inside a descending channel formation and currently testing the resistance. Applying the Fib tool on the latest swing high and low also shows that the channel resistance lines up with the 61.8% Fibonacci retracement level.  The channel ...

EURUSD Ascending Channel (Jan 16, 2017)

Daily Forex Reports | by Kate Curtis | Monday, 16 January 2017 06:17 UTC
EURUSD continues to tread higher, moving inside an ascending channel visible on its 1-hour time frame. Price is just testing the resistance and could be due for a pullback to support before heading further north.   The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to ...

USD/JPY Forecast January 16, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 14 January 2017 06:06 UTC
The USD/JPY pair went back and forth on Friday, testing the 115 level. This is an area where I think we will see a significant amount of support, but I also believe that the support extends all the way down to the 111.50 handle. If we can break above the top of the candle for the Friday session, t ...

USD/CAD Forecast January 16, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 14 January 2017 06:05 UTC
The USD/CAD pair initially fell on Friday, but turned around to form a hammer just as we did on Thursday. If we can break above the top of the hammer from Thursday, I believe that the longer-term uptrend will continue, and we should reach towards the 1.35 handle above. Alternately, I believe that ...

GBP/USD Forecast January 16, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 14 January 2017 06:04 UTC
The GBP/USD pair went back and forth, forming a relatively neutral candle. There is a significant amount of support below though, as the 1.20 level underneath offers a major barrier. A break above the top of the shooting star from the Thursday candle tells me that the market wants to go to the 1.2 ...

EUR/USD Forecast January 16, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 14 January 2017 06:03 UTC
The EUR/USD pair initially tried to rally on Friday, but fell just as it did on Thursday, forming a shooting star again. Because of this, I believe that the short-term move to the 1.05 level is more than likely what we are going to see. Alternately, if we can break above the 1.0790 level, the mark ...

AUD/USD Forecast January 16, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 14 January 2017 06:01 UTC
The Australian dollar went back and forth during the day on Friday, as we continue to bang up against the 0.75 level. This is an area that will be resistive as it has been in the past, but ultimately, we are overextended as well. Because of this, if we can break down below the bottom of the candle ...

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