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Daily Forex Reports


GBPAUD Downtrend Pullback (Aug 18, 2016)

Daily Forex Reports | by Kate Curtis | Thursday, 18 August 2016 04:26 UTC
GBPAUD has been trending lower on its 4-hour chart, moving below a descending trend line connecting the latest highs of price action. Price is starting to pull up from its recent dive and applying the Fib tool on the swing high and low reveals that the 61.8% retracement level coincides with the tren ...

USD/JPY Forecast August 17, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 17 August 2016 05:44 UTC
The USD/JPY pair broke down during the day on Monday, as we tested the 100 handle finally. However, this is a market that was banking on potential lack of interest-rate hikes coming out of the United States, but was ignoring the fact that the Bank of Japan will be supporting this market somewhere in ...

USD/CAD Forecast August 17, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 17 August 2016 05:44 UTC
The USD/CAD pair fell during the course of the day on Tuesday, slicing through the 1.28 level at one point. However, we did bounce a bit so I don’t think this market necessarily ready to meltdown. It does look fairly negative at the moment though, and that of course has to be taken into account. U ...

GBP/USD Forecast August 17, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 17 August 2016 05:43 UTC
The GBP/USD pair broke higher during the course of the session on Tuesday, slicing above the 1.30 level at one point. However, even though we have a very bullish candle here, I believe that we will ultimately have a nice selling opportunity given enough time, and as a result of an exhaustive candle ...

EUR/USD Forecast August 17, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 17 August 2016 05:42 UTC
EUR/USD rose significantly during the course of the day on Tuesday, breaking above the 1.12 level. As I had suggested previously, if we got above the 1.12 level, we then would more than likely reach towards the 1.1350 level. This has happened, so now a slight pullback could be coming. However, it’ ...

AUD/USD Forecast August 17, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 17 August 2016 05:41 UTC
The Australian dollar rally during the session initially on Tuesday, but turn right back around to form a bit of a shooting star that sits upon the previous resistance and 0.7675, as we await the employment numbers coming out of Australia later today. With this being the case, we very well could get ...

GBPUSD Retracement Setup Aug 17, 2016

Daily Forex Reports | by Kate Curtis | Wednesday, 17 August 2016 04:02 UTC
Cable made a strong rally in yesterday's London session, creating a retracement opportunity from its recent slide. Applying the Fib tool on the latest swing high and low shows that the 38.2% to 50% levels span an area of interest from 1.3050 to 1.3100, which previously held as support. In addition, ...

USD/JPY Forecast August 16, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 16 August 2016 08:15 UTC
The USD/JPY pair did very little during the course of the day on Monday, simply grinding sideways. With that being the case, the market looks as if it is prepared to simply sit at the 101 level. I have no interest in shorting this market, I believe there is a massive amount of support below and exte ...

USD/CAD Forecast August 16, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 16 August 2016 08:14 UTC
The USD/CAD pair fell rather significantly during the course of the session on Monday, but once the Americans came back they did attempt to push this market higher. With this being the case, the market breaking above the 1.30 level would be rather significant, and a sign that the US sellers starting ...

GBP/USD Forecast August 16, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 16 August 2016 08:13 UTC
The GBP/USD pair initially tried to rally but then turn right back around to form a negative candle. By doing so, looks as if we are going to continue to go lower, and reach towards the vital 1.28 level. I believe that a break down below there sends this market looking towards the 1.25 handle given ...

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