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Daily Forex Reports


USDJPY Triangle Pattern (Mar 6, 2015)

Daily Forex Reports | by Kate Curtis | Friday, 06 March 2015 06:57 UTC
USDJPY could be gearing up for another strong breakout, as the pair is moving inside an ascending triangle pattern on its 1-hour chart. Price is currently testing the top of the formation, still deciding whether to make a move back to the bottom or to have an upside breakout.   Stochastic is movi ...

USD/JPY Forecast March 6, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 March 2015 06:19 UTC
The USD/JPY pair broke higher during the course of the session on Thursday, clearing the 120 handle. However, with the nonfarm payroll numbers coming out today, it’s very likely that the market should continue to tread water between now and then. This market tends to be very sensitive to that econ ...

USD/CAD Forecast March 6, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 March 2015 06:19 UTC
The USD/CAD pair initially tried to fall during the session on Thursday, but bounced back towards the 1.25 handle. With that, the market looks as if it is ready to continue the volatility, but with today being nonfarm payroll Friday, it’s likely that we will have to wait until we see what the resu ...

GBP/USD Forecast March 6, 2015, technical analysis

Daily Forex Reports | by FX Empire | Friday, 06 March 2015 06:11 UTC
The GBP/USD pair went back and forth during the session on Thursday, showing that the 1.52 level below continues to be supportive. In fact, it is not until we break down below there that we would feel comfortable selling this market, which then should head to the 1.50 level. Ultimately, the market h ...

EUR/USD Forecast March 6, 2015, technical analysis

Daily Forex Reports | by FX Empire | Friday, 06 March 2015 06:11 UTC
The EUR/USD pair went back and forth during the course of the session on Thursday, but most importantly tested the 1.10 level for support. We ended up finding support there, and turning back around. Ultimately though, with the nonfarm payroll numbers coming out today, we could see a move below the 1 ...

AUD/USD Forecast March 6, 2015, technical analysis

Daily Forex Reports | by FX Empire | Friday, 06 March 2015 06:07 UTC
The AUD/USD pair fell during the course of the session on Thursday, as we continue to see sideways consolidation overall. With that being the case, we recognize that the 0.77 level below is massively supportive. If we can get below there, we would be sellers of the Australian dollar as it should the ...

USD/JPY Forecast March 5, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 March 2015 07:09 UTC
The USD/JPY pair initially fell during the course of the day on Wednesday, but as you can see found enough support to turn things back around and form a hammer. In fact, this is the second hammer in a row, so that of course shows how much bullish pressure there is below, and as a result we cannot se ...

USD/CAD Forecast March 5, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 March 2015 07:08 UTC
The USD/CAD pair initially tried to rally during the course of the day on Wednesday, but struggled above the 1.25 level yet again. By doing so, we ended up breaking down again, heading to the 1.24 region. The area just below and extending down to the 1.2350 level suggests quite a bit of support, but ...

GBP/USD Forecast March 5, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 March 2015 07:06 UTC
The GBP/USD pair broke down during the session on Wednesday, testing the 1.5250 region. With that being the case, it appears of the market is going to continue going lower, but we need to see the market break down below the 1.52 level in order to start selling again. If we get that move, we should t ...

EUR/USD Forecast March 5, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 March 2015 07:06 UTC
The EUR/USD pair fell during the session on Wednesday, breaking below the 1.11 level. This suggests that the market is ready to go down to the longer-term target that we have been talking about, the 1.10 level. Because of this, we are sellers of rallies, and a break below the bottom of the range fro ...

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