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Daily Forex Reports


EUR/USD Forecast May 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 24 May 2016 05:13 UTC
The EUR/USD pair initially tried to go higher on Monday, but turned back around to form a slightly negative candle. The area just below the 1.12 level is massively supportive, and as a result it makes sense that the pair essentially just stopped in this area. The market breaking above the top of the ...

AUD/USD Forecast May 24, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 24 May 2016 05:12 UTC
The AUD/USD pair went back and forth on Monday, as we continue to struggle with the 0.73 level. Any rally at this point in time should have to deal with quite a bit of resistance, going all the way to the 0.74 level, and then the 200 day exponential moving average which is pictured on this chart. An ...

EURAUD Descending Triangle Resistance (May 24, 2015)

Daily Forex Reports | by Kate Curtis | Tuesday, 24 May 2016 04:40 UTC
EURAUD has been climbing recently but these rallies could hit a barrier around the top of the descending triangle on its daily time frame. This is located around the 1.5800 major psychological level, with a turn lower likely leading to a drop towards the long-term support at the 1.4550 minor psychol ...

EURGBP Downtrend Correction (May 23, 2016)

Daily Forex Reports | by Kate Curtis | Monday, 23 May 2016 05:22 UTC
EURGBP recently made a break below the head and shoulders neckline support then dipped to a low of .7650. Price is showing signs of a pullback from the breakout move, possibly retesting the broken neckline around .7750-.7800.  Applying the Fib tool on the latest swing high and low shows that the 3 ...

USD/JPY Forecast May 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 22 May 2016 05:30 UTC
The USD/JPY pair initially tried to rally during the day on Friday but turned back around to form a bit of a shooting star. Because of this, it looks as if the market could pull back from here. However, there is a significant amount of support just below, and extending all the way down to the 108 le ...

USD/CAD Forecast May 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 22 May 2016 05:29 UTC
The USD/CAD pair rose during the course of the session on Friday, as we continue to see gains in the US dollar. However, there is a bit of a barrier at the 1.32 level, so having said that it will probably be volatile. Remember that the Canadian dollar is highly influenced by the oil markets, so pay ...

GBP/USD Forecast May 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 22 May 2016 05:28 UTC
The GBP/USD pair broke down below the bottom of the shooting star from the Thursday session during Friday, and as a result we broke down below the 1.45 handle and close towards the bottom of the range. There is plenty of noise just below, and as a result it’s likely that it will be difficult to co ...

EUR/USD Forecast May 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 22 May 2016 05:28 UTC
The EUR/USD pair found support at the 1.12 level, but did not bounce much. This being the case, we will probably try to grind higher but that’s about all we anticipate. We could go as high as the 1.14 level, possibly even the 1.15 level as well. There is no interest on our part of placing large am ...

AUD/USD Forecast May 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 22 May 2016 05:26 UTC
The AUD/USD pair went back and forth during the day on Friday, as we had formed a supportive looking hammer on Thursday. Because of this, it’s very likely that the markets will find an opportunity to go higher, and when they do they will probably have to deal with the .73 level above which should ...

USD/JPY Forecast May 20, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 20 May 2016 05:50 UTC
The USD/JPY pair fell slightly during the course of the session on Thursday, breaking below the 110 level. With this being the case, the market looks as if we are struggling a bit at this large number. However, the fact that we broke above there suggests that we are starting to see a fairly large sh ...

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