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Daily Forex Reports


USD/JPY Forecast May 9, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Monday, 09 May 2016 07:48 UTC
The USD/JPY pair fell a bit during the course of the session on Friday as we got fairly weak jobs numbers out of the United States. However, there is a significant amount of support just below, so at this point in time we feel that the market just isn’t ready to go anywhere at this point. If we ca ...

USD/CAD Forecast May 9, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Monday, 09 May 2016 07:48 UTC
The USD/CAD pair initially fell during the course of the day on Friday, but turned right back around to continue the bullish pressure. With this being the case, we are now ready to test the 1.30 level above, which is massive resistance. If we can break above the 1.30 level, the market should continu ...

AUD/USD Forecast May 9, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Monday, 09 May 2016 07:47 UTC
The AUD/USD pair initially fell during the course of the session on Friday, but turn right back around to form a hammer. Quite frankly, this is a market that has sold off rather drastically after the Reserve Bank of Australia cut rates. That being the case, it’s not surprising to see all of the re ...

AUDUSD Major Correction (May 09, 2016)

Daily Forex Reports | by Kate Curtis | Monday, 09 May 2016 05:37 UTC
AUDUSD has been selling off in the past weeks but is currently finding support at the 50% Fibonacci retracement level on the 4-hour time frame. This lines up with an area of interest or former resistance around the .7300 major psychological mark. If this area holds as support, a bounce back to the ...

USD/JPY Forecast May 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 May 2016 06:27 UTC
The USD/JPY pair went back and forth during the course of the day on Thursday, showing that we saw quite a bit of volatility. If we can break higher, the 108 level will be tested. I think we could go above there and reach towards the 110 level as well, but it will be a grind higher, and not a quick ...

USD/CAD Forecast May 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 May 2016 06:27 UTC
The USD/CAD pair initially fell during the course of the day on Thursday, but turn right back around to form a bit of a hammer. We are approaching the 1.30 level, and what will be interesting today is that we get employment numbers not only out of America, but also Canada as well. This should lead t ...

GBP/USD Forecast May 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 May 2016 06:26 UTC
The GBP/USD pair broke down during the course of the day on Thursday, but still remains above the 1.44 level. That’s the area that we would have to break down in order for me to start selling this market going forward, so I believe that any type of supportive candle in this area just as the case t ...

EUR/USD Forecast May 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 May 2016 06:25 UTC
The EUR/USD pair fell significantly during the course of the session on Thursday, as we broke down below the bottom of the shooting star from the previous day. However, there is a significant amount of support near the 1.14 level, and as we approach the Nonfarm Payroll announcement, it’s likely th ...

AUD/USD Forecast May 6, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 06 May 2016 06:25 UTC
The AUD/USD pair fell during the course of the session on Thursday, as we test the support down between the 0.75 level and the 0.74 handle. Ultimately, this is a market that will be very sensitive to the US dollar and its fluctuations after the jobs number, and of course the gold market in general. ...

GBPAUD Trend Line Test (May 06, 2016)

Daily Forex Reports | by Kate Curtis | Friday, 06 May 2016 03:47 UTC
GBPAUD has been trending lower on the 4-hour time frame, moving below a descending trend line connecting the latest highs of price action. Price looks ready for another test of this trend line soon and technical indicators are suggesting that the resistance could hold.   The 100 SMA lines up with ...

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