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Daily Forex Reports


USD/JPY Forecast May 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 May 2016 09:28 UTC
The USD/JPY pair initially fell during the day on Wednesday but found enough support near the 106 level to turn things back around and form a hammer. The hammer of course is a bullish sign, and it looks as if the market is trying to build enough of a base to turn things back around. However, there i ...

USD/CAD Forecast May 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 May 2016 09:27 UTC
The USD/CAD pair broke higher during the course of the day on Wednesday, as it looks like we are ready to try to reach towards the 1.30 level. This is an area that should be massively resistive though, but the interesting thing about this area is that if we break above it, the longer-term uptrend sh ...

GBP/USD Forecast May 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 May 2016 09:27 UTC
The GBP/USD pair initially tried to rally during the day but then dipped below the 1.45 handle. Ultimately, we ended up forming something akin to a shooting star so it looks as if the market is trying to break down but I see quite a bit of support all the way down to the 1.44 handle. Because of this ...

EUR/USD Forecast May 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 May 2016 09:26 UTC
The Euro tried to rally during the day on Wednesday, but struggled above the 1.15 level again. By doing so, we ended up forming a bit of a shooting star and it looks as if we may need to drift a little bit lower in order to entice buyers back into this marketplace. On the other hand, if we do not dr ...

AUD/USD Forecast May 5, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 05 May 2016 09:25 UTC
The AUD/USD pair initially tried to rally during the day on Wednesday but found the area above the 0.75 level to be a little bit too rich. By doing so, we ended up turning a bit negative but we are still well within the massive amount of support that extends all the way down to the 0.74 level. Ultim ...

GBPUSD Uptrend Correction (May 05, 2016)

Daily Forex Reports | by Kate Curtis | Thursday, 05 May 2016 03:57 UTC
GBPUSD has been trending higher recently, moving above a rising trend line on its 4-hour time frame. Price found resistance near the 1.4750 minor psychological level and seems to be in the middle of a correction. Applying the Fibonacci tool on the latest swing low and high shows that the trend line ...

USD/JPY Forecast May 4, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 04 May 2016 06:04 UTC
The USD/JPY pair initially fell during the course of the session on Tuesday, reaching towards the 105 level. This is an area that we have been talking about as being extremely important for some time, so having said that there is quite a bit of interest in the fact that we did up forming a hammer. A ...

USD/CAD Forecast May 4, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 04 May 2016 06:03 UTC
The USD/CAD pair initially fell during the course of the session on Tuesday, but found enough support below the 1.25 level to turn things around and form a rather positive candle. This engulfing candle should signal that the market is trying to change trends, but we obviously have to worry about oil ...

GBP/USD Forecast May 4, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 04 May 2016 06:03 UTC
The GBP/USD pair initially tried to rally during the day on Tuesday, but turned back around to form a very negative candle. The 1.45 level is offering support though, so this point in time not quite ready to start selling. I believe a supportive candle here could be reason enough to start going long ...

EUR/USD Forecast May 4, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 04 May 2016 06:02 UTC
The EUR/USD pair initially rose during the day on Tuesday, but turned back around to form a shooting star. The shooting star of course is a very negative sign, but as we have recently broken above resistance, it makes sense that the market will pullback in order to build up enough momentum to contin ...

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