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Daily Forex Reports


EURAUD Resistance Turned Support (Jan 10, 2017)

Daily Forex Reports | by Kate Curtis | Tuesday, 10 January 2017 03:22 UTC
EURAUD recently broke past resistance at the 1.4400 major psychological level and zoomed up to the 1.4700 area. Price has since pulled back and is currently testing the broken resistance at the 50% Fibonacci retracement level.   The 100 SMA is above the longer-term 200 SMA so the path of least re ...

USDCAD Channel Support (Jan 09, 2017)

Daily Forex Reports | by Kate Curtis | Monday, 09 January 2017 06:12 UTC
USDCAD has been trending higher on its long-term time frames, moving inside an ascending channel that has held for the most part of 2016. Price is currently testing the channel support and could be due for a bounce as a spinning top candle has formed. The next daily candle should serve as confirmat ...

USD/JPY Forecast January 6, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 January 2017 06:47 UTC
The USD/JPY pair fell significantly during the day on Thursday, reaching towards the 115 handle. That level should be support, as it was once resistance. Ultimately, we are in a nice uptrend and should see support all the way down to the 111.50 level. Any signs of a bounce or a supportive candle i ...

USD/CAD Forecast January 6, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 January 2017 06:46 UTC
The USD/CAD pair fell hard on Thursday, as we continue to see quite a fair amount of negative pressure in this market. However, I see quite a bit of support on the uptrend line that we have recently obeyed, so I believe it’s only a matter time before the buyers return. A supportive candle would ...

GBP/USD Forecast January 6, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 January 2017 06:45 UTC
The British pound rallied again against the US dollar, after initially falling. This is a very bullish looking candle that we have an uptrend line from the previous trend just above, and it coincides nicely with the 1.25 handle. Because of this, as the first signs of exhaustion I am more than will ...

EUR/USD Forecast January 6, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 January 2017 06:44 UTC
The EUR/USD pair rallied on Thursday, as we broke above the 1.05 level. In fact, the Euro looks rather strong, but I recognize that the 1.07 level above as a bit of a “ceiling” in this market, and sooner rather than later we will have sellers return. I believe that the Nonfarm Payrolls announc ...

AUD/USD Forecast January 6, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 January 2017 06:42 UTC
The AUD/USD pair broke out during the day on Thursday, clearing the 0.73 level. We are dealing with a significant amount of resistance in this general vicinity, but it looks as if the Australian dollar is trying to make a serious come back. Nonetheless, I’m waiting for signs of exhaustion to sta ...

EURGBP Ascending Triangle (Jan 06, 2017)

Daily Forex Reports | by Kate Curtis | Friday, 06 January 2017 06:33 UTC
EURGBP has formed higher lows on its 1-hour chart and is testing resistance at the .8575, creating an ascending triangle formation. Price is approaching the peak of the triangle so a breakout in either direction might be due soon, taking price by around 150-200 pips higher or lower, which is the sam ...

GBPUSD Short-Term Reversal (Jan 05, 2017)

Daily Forex Reports | by Kate Curtis | Thursday, 05 January 2017 05:15 UTC
GBPUSD has been selling off recently but a reversal pattern has formed on its 1-hour time frame. Price failed in its last two attempts to break below the 1.2200 major psychological level, creating a double bottom with a neckline around 1.2380. The 100 SMA just crossed above the longer-term 200 SMA ...

USD/JPY Forecast January 4, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 04 January 2017 06:58 UTC
The USD/JPY pair initially broke out during the day on Tuesday but found enough resistance above the turn around and suddenly form a semi exhaustive looking candle. I still believe longer-term we go much higher, so I look at these pullbacks is value. I recognize the 115 level below as support, and ...

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