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Daily Forex Reports


GBP/USD Forecast April 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 08 April 2016 06:19 UTC
The GBP/USD pair went back and forth during the course of the day on Thursday, as we continue to see support above the 1.40 level. That being the case, it’s going to be a strong buy signal for the short-term trade if we can break above the top of the range not only from the Thursday session, but w ...

EUR/USD Forecast April 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 08 April 2016 06:18 UTC
The EUR/USD pair went back and forth during the course of the session on Thursday, showing that we continue to struggle at the 1.14 level. The market looks as if there is quite a bit of resistance there, as we have seen previously. A pullback is very likely, but there should be buying pressure under ...

AUD/USD Forecast April 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 08 April 2016 06:18 UTC
The AUD/USD pair initially tried to rally during the course of the session on Thursday, but turn right back around to crash into the 0.75 level below. We believe that there is a significant amount of support all the way down to the 0.74 level, so having said that it seems as if there is more than en ...

EURJPY Broken Trend Line Pullback (Apr 08, 2016)

Daily Forex Reports | by Kate Curtis | Friday, 08 April 2016 05:33 UTC
EURJPY previously broke below a rising trend line support on the 4-hour time frame and might be due for a correction soon. Price is already nearing the previous lows at 122.00 and sellers might be waiting for a pullback to enter at a better price before pushing for new lows. Using the Fib tool on t ...

USD/JPY Forecast April 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 07 April 2016 09:00 UTC
The USD/JPY pair broke down during the course of the session on Wednesday, breaking below the 110 level. Because of this, if we can break down below the bottom of the range during the course of the session, we should continue to go even lower. Rallies at this point in time will more than likely attr ...

USD/CAD Forecast April 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 07 April 2016 08:59 UTC
The USD/CAD pair initially tried to rally during the course of the day on Wednesday, but turned back around to form a bit of an exhaustive candle. Because of this, looks as if the market is going to continue to struggle, and you have to pay attention oil markets as well. Ultimately though, oil tends ...

GBP/USD Forecast April 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 07 April 2016 08:58 UTC
The GBP/USD pair initially fell during the course of the day on Wednesday, but found enough support at the 1.40 level to turn things around drastically and form a nice-looking hammer. The hammer of course suggesting that we are going to continue to rise from here, and on a break above the top the ha ...

EUR/USD Forecast April 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 07 April 2016 08:57 UTC
The EUR/USD pair initially fell during the day on Wednesday, but turn right back around to form a fairly bullish candle. Because of this, it looks as if the Euro is trying to reach towards the 1.15 level above, which has been massively resistive in the past. We don’t have any interest in selling, ...

AUD/USD Forecast April 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 07 April 2016 08:57 UTC
The AUD/USD pair initially fell on Wednesday but found enough support just above the 0.75 level again to bounce. Because of this, it’s very likely that we will continue to go higher forward, but we recognize it will be possibly choppy above. Pay attention to gold markets, if they rally, it’s ver ...

USDCAD Downtrend Channel (Apr 07, 2016)

Daily Forex Reports | by Kate Curtis | Thursday, 07 April 2016 05:33 UTC
USDCAD has been trending lower, thanks to the recent rallies in oil prices. Price has formed lower highs and lower lows, creating a descending channel pattern on its 4-hour chart. The pair just recently tested the resistance and appears ready to head back towards support. In addition, the 100 SMA i ...

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