Sponsors

Daily Forex Reports


EUR/USD Forecast February 8, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 08 February 2017 07:43 UTC
The EUR/USD pair broke down on Tuesday, as the 1.0750 level offered quite a bit of resistance. The market formed a very negative looking candle, and we are now testing the bottom of the 50-day exponential moving average. If we breakdown below the bottom of the candle for the session on Tuesday, I ...

AUD/USD Forecast February 8, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 08 February 2017 07:42 UTC
The Australian dollar fell a bit during the session on Tuesday, testing the 0.76 level underneath. We found a bit of support there, and the market bounced enough to show signs of volatility. I believe longer-term the market will probably go higher based upon gold markets, but it’s not necessaril ...

USDCAD Falling Wedge (Feb 08, 2017)

Daily Forex Reports | by Kate Curtis | Wednesday, 08 February 2017 06:34 UTC
USDCAD has formed lower highs and lower lows recently, creating a falling wedge chart pattern visible on the 4-hour chart. Price is currently testing the wedge resistance and may be due for a move back to support. If a breakout happens, the pair could move by around 500 pips, which is the same heigh ...

USD/JPY Forecast February 7, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 07 February 2017 06:55 UTC
The USD/JPY pair went back and forth on Monday, just below the 112.50 level. The 112 level continues to offer support, and I believe that the support extends all the way down to the 111.50 level. Because of this, I am a buyer of this market and believe that it is only a matter of time before we bo ...

USD/CAD Forecast February 7, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 07 February 2017 06:54 UTC
The US dollar rallied against the Canadian dollar during the session on Monday, slicing through the 1.31 handle. Because of this move, I believe that the US dollar will continue to pick up against the Canadian dollar at least in the short term, so I’m a buyer. I recognize that the blue box on my ...

GBP/USD Forecast February 7, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 07 February 2017 06:52 UTC
The British pound fell a bit during the day on Monday, as we find yourselves testing the 1.24 level. That’s an area that I think is the bottom of significant support, so if we can break above the 1.25 handle, the market should then go to the 1.27 level above. Regardless of what happens, I expect ...

EUR/USD Forecast February 7, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 07 February 2017 06:50 UTC
The EUR/USD pair continues to bounce around between the 50-day exponential moving average and the 100-day exponential moving average. We have an equilibrium somewhere near the 1.0750 level, so I’m not overly excited about trading this pair at the moment. However, I recognize that if we can break ...

AUD/USD Forecast February 7, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 07 February 2017 06:49 UTC
The Australian dollar fell during the Monday session, as we continue to see volatility in the Forex markets. I still believe that there is a significant amount of support just below though, so I’m looking for buying opportunities near the 0.76 handle. We are in an uptrend, but have seen a little ...

GBPJPY Head and Shoulders Breakdown (Feb 07, 2017)

Daily Forex Reports | by Kate Curtis | Tuesday, 07 February 2017 06:27 UTC
GBPJPY indicated its intention to head further south by breaking below the head and shoulders neckline at 141.00. The chart pattern is approximately 300 pips tall so the resulting selloff could be of the same size.  The 100 SMA has crossed below the longer-term 200 SMA to confirm that the path of ...

EURGBP Double Bottom (Feb 06, 2017)

Daily Forex Reports | by Kate Curtis | Monday, 06 February 2017 06:15 UTC
EURGBP seems to be tired from its dive as the pair failed in its last two attempts to break below the .8500 level. Price has now completed a double bottom formation and is testing the neckline at .8650. A break above this resistance could send price up by 150 pips or the same height as the chart for ...

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.

Sponsors

Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.