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Daily Forex Reports


USDCAD Short-Term Pullback (Nov 16, 2016)

Daily Forex Reports | by Kate Curtis | Wednesday, 16 November 2016 04:10 UTC
USDCAD recently broke past the 1.3500 major psychological resistance and climbed close to the 1.3600 mark before pulling back. Applying the Fib tool on the latest swing low and high shows that the 50% level lines up with the broken resistance and area of interest.   Stochastic is heading lower so ...

USD/JPY Forecast November 15, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 15 November 2016 06:13 UTC
The USD/JPY pair broke down during the day on Monday, clearing the 107.50 level. This is an area that has caused quite a bit of resistance in the past so the fact that we broke above there is a very encouraging sign for the buyers. Given enough time, we should continue to go even higher, but I think ...

USD/CAD Forecast November 15, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 15 November 2016 06:12 UTC
The USD/CAD pair continues to grind higher as oil markets falter. Now that we are above the 1.35 level, the market will then more than likely reach towards the 1.40 handle, perhaps even higher than that. Short-term pullbacks offer buying opportunities, as we continue to see the US dollar strengthen ...

GBP/USD Forecast November 15, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 15 November 2016 06:11 UTC
The British pound fell against the US dollar during the day on Monday, as we broke below the 1.25 handle. However, I think there is a significant amount of support just below so I think it’s probably going to more or less hang about this general vicinity. Because of this, I have no interest in pla ...

EUR/USD Forecast November 15, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 15 November 2016 06:10 UTC
The EUR/USD pair broke down below the 1.08 level, extending the bearish pressure even further. We have had an absolute meltdown when it comes to the value of the Euro, and it seems like it’s going to continue. The market will more than likely reach towards the 1.05 level below, as it was a massive ...

AUD/USD Forecast November 15, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 15 November 2016 06:09 UTC
The AUD/USD pair did very little on Monday, as we continue to meander just above the uptrend line that has been so supportive on the longer-term charts. Beyond that, we also have the 0.75 level just below, and that of course is a large, round, psychologically significant number. I’m currently on t ...

USDJPY Major Correction (Nov 15, 2016)

Daily Forex Reports | by Kate Curtis | Tuesday, 15 November 2016 03:56 UTC
USDJPY has completed its correction to the broken long-term trend line extending all the way back to 1998 so the reversal could resume from here. This coincides with the 50% Fibonacci retracement level on the swing low and high on the monthly chart, which seems to have held as strong support.   T ...

NZDUSD Long-Term Reversal? (Nov 14, 2016)

Daily Forex Reports | by Kate Curtis | Monday, 14 November 2016 08:00 UTC
NZDUSD has been trading inside an ascending channel pattern on its daily time frame and is currently testing support at the .7100 major psychological level. A bounce off this channel bottom could lead to a move back to the top or until the recent highs at .7400.  On the other hand, a break lower c ...

USD/JPY Forecast November 14, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 13 November 2016 05:50 UTC
The USD/JPY pair fell at the open on Friday, but did turned around enough to form a nice-looking hammer. The hammer suggests that we are getting ready to trying to press the 108.50 level above that has been massively resistive. Pullbacks at this point should continue to offer value as the US dollar ...

USD/CAD Forecast November 14, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Sunday, 13 November 2016 05:49 UTC
The USD/CAD pair broke out above the 1.35 handle during the day, and continue to go higher on Friday. We did get back some of the gains but given enough time to looks as if we will go higher. A break above the top of the highs during the day on Friday is reason enough to think that this market will ...

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