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Daily Forex Reports


EURUSD Ascending Channel (Feb 02, 2017)

Daily Forex Reports | by Kate Curtis | Thursday, 02 February 2017 03:35 UTC
EURUSD continues to trend higher, moving inside an ascending channel on its 1-hour chart. Price just bounced off the resistance at 1.0800 and might be due for a test of support at 1.0700.   The 100 SMA Is below the 200 SMA so the path of least resistance is to the downside. However, the moving av ...

USD/JPY Forecast February 1, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 01 February 2017 04:38 UTC
The USD/JPY pair broke down during the day on Tuesday, testing the 112.50 handle. There has been a bit of a push back just below there, so will be interesting to see whether we can bounce from here. If we do, I don’t see a reason the market will reach towards the 115 level above. That level bein ...

USD/CAD Forecast February 1, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 01 February 2017 04:37 UTC
The US dollar sliced through the 1.30 level against the Canadian dollar during the session on Tuesday, but bounced enough to show signs of life. However, today we get the Crude Oil Inventories announcements coming out of the United States, and that of course can have a massive amount of influence ...

GBP/USD Forecast February 1, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 01 February 2017 04:36 UTC
The GBP/USD pair initially fell on Tuesday, but turned around and broke above the 1.25 level during the day. The market looks as if it is ready to reach towards the 1.2750 level above. The market has recently seen a lot of buying pressure, and I believe that the British pound is going to continue ...

EUR/USD Forecast February 1, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 01 February 2017 04:35 UTC
The EUR/USD pair broke higher during the Tuesday session, reaching above the 100-exponential moving average late in the session. There is a significant amount of bullish pressure underneath, so given enough time the market should then reach towards the 1.10 level above. I have no interest in short ...

AUD/USD Forecast February 1, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 01 February 2017 04:34 UTC
The AUD/USD pair initially tried to rally during the day on Tuesday, but gave back a little bit of the gains once we get close to the 0.73 handle. Once we break above there, I believe that the market will ingrain towards the 0.7750 level above. I think that the 0.75 level underneath is massively s ...

EURAUD Range Support Bounce (Feb 01, 2017)

Daily Forex Reports | by Kate Curtis | Wednesday, 01 February 2017 03:48 UTC
The bottom of the long-term range on EURAUD seems to be holding as a floor, with a small double bottom formation materializing. Price is testing the neckline at the 1.4300 major psychological level and a break past this resistance could send the pair up by 200 pips or the same height as the chart fo ...

GBPJPY Trend Line Pullback (Jan 31, 2017)

Daily Forex Reports | by Kate Curtis | Tuesday, 31 January 2017 04:38 UTC
GBPJPY recently broke past a descending trend line visible on its 4-hour time frame and is showing signs of a pullback. Applying the Fib tool on the latest swing high and low shows that the 50% retracement level lines up with the broken resistance, which might now hold as support.   The 100 SMA i ...

USDJPY Short-Term Range (Jan 30, 2017)

Daily Forex Reports | by Kate Curtis | Monday, 30 January 2017 06:08 UTC
USDJPY has been trading sideways recently, bouncing off support at the 112.65 level and resistance at 115.30. Price recently made a test of resistance and seems to be heading back to the bottom of its range again. The 100 SMA is below the 200 SMA for now so the path of least resistance is to the do ...

USD/JPY Forecast January 23, 2017, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 28 January 2017 10:05 UTC
The USD/JPY pair broke higher on Friday, as the 115 level came into focus. If we can break above the shooting star from last week, I think that the market will continue to grind towards the 118.50 level. I believe that a pullback could happen, but more than likely it will only offer a buying oppor ...

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