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Daily Forex Reports


GBP/USD Forecast April 9, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 09 April 2014 02:42 UTC
The GBP/USD pair took off to the upside during the session on Tuesday, breaking above the resistance level at the 1.67 handle, and heading towards the 1.68 level, the next resistance area. We believe that if we can get above that area though, we could at all the way to the 1.70 handle given enough t ...

EUR/USD Forecast April 9, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 09 April 2014 02:41 UTC
The EUR/USD pair broke higher during the session on Tuesday, reaching all the way to the 1.38 level. This was our short-term target, and now we have succeeded in what we anticipated happening. That being the case, if we can break above the highs from the session on Tuesday, we feel that this market ...

AUD/USD Forecast April 9, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 09 April 2014 02:41 UTC
The AUD/USD pair broke higher during the session on Tuesday, finally breaking out above the 0.93 handle. Because of this, it appears that the market is ready to head back to the 0.95 handle, which of course is the next major resistance area based upon the large, round, psychologically significant ba ...

NZD/USD Broken Trend Line Retest (April 8, 2014)

Daily Forex Reports | by Kate Curtis | Tuesday, 08 April 2014 07:48 UTC
NZD/USD recently broke below a rising trend line connecting the lows of the price, indicating that the previous uptrend is already over. Before heading any lower though, the pair made a quick retracement move to the Fibonacci levels on the 1-hour time frame, possibly forming a head and shoulders pat ...

USD/JPY Forecast April 8, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 08 April 2014 03:22 UTC
The USD/JPY pair fell during the session on Monday, finding the 103 level by the end of the day. This area could bring in buyers, but in the meantime it’s difficult to buy until we get a supportive candle. With that, we feel that this market will eventually bounce, but probably has a little bit mo ...

USD/CAD Forecast April 8, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 08 April 2014 03:21 UTC
The USD/CAD pair tried to rally during the session on Monday, but found the 1.10 level to be a bit too resistive in order to form a shooting star. This shooting star suggests that the market is trying to continue to selloff, but it also gives us a nice buying opportunity if we break above the 1.10 l ...

GBP/USD Forecast April 8, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 08 April 2014 03:21 UTC
The GBP/USD pair rose during the session on Monday, breaking above the 1.66 level again. This market appears as if it is ready to continue going higher, ultimately testing the 1.70 level given enough time. However, there are quite a few areas above that could cause bits of resistance, so we feel tha ...

EUR/USD Forecast April 8, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 08 April 2014 03:20 UTC
The EUR/USD pair rose during the session on Monday, breaking the top of the hammer from the Friday session, so it appears that the market is ready to continue going higher. This is interesting, because the hammer that was formed on Friday was in fact based upon the 61.8 Fibonacci retracement level. ...

AUD/USD Forecast April 8, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 08 April 2014 03:20 UTC
The AUD/USD pair fell during the session on Monday, but found the 0.9250 level supportive enough to keep the market afloat. Because of this, we feel that this market is ready to continue going higher, not to mention the fact that the New Zealand dollar looks very similar, well supported. Because of ...

CAD/JPY Triple Bottom Breakout? (April 7, 2014)

Daily Forex Reports | by Kate Curtis | Monday, 07 April 2014 08:29 UTC
After trending lower towards the end of last year and the start of this year, CAD/JPY has formed a consolidation pattern and is indicating a possible reversal of the previous downtrend. A triple bottom can be seen on its 4-hour time frame and a break above the neckline could confirm the potential ra ...

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