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Daily Forex Reports


NZDJPY Major Correction (Dec 27, 2016)

Daily Forex Reports | by Kate Curtis | Tuesday, 27 December 2016 06:13 UTC
NZDJPY broke past the long-term resistance at the 78.00 handle a couple of months back before staging a steady ascent to 83.50. Price seems to be struggling to keep up its climb from here so a pullback might be due.  Applying the Fib tool on the latest swing high and low shows that the 61.8% retra ...

AUDNZD Descending Triangle (Dec 26, 2016)

Daily Forex Reports | by Kate Curtis | Monday, 26 December 2016 06:42 UTC
AUDNZD formed lower highs and found support at the 1.0400 major psychological level, creating a descending triangle visible on its 1-hour chart. Price is on its way to test the bottom of the triangle and might be due for a bounce.   However, the 100 SMA is below the longer-term 200 SMA so the pat ...

USD/JPY Forecast December 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 23 December 2016 06:24 UTC
The USD/JPY pair went back and forth during the day on Thursday, as it looks like we are running out of steam. Ultimately, I do believe that the buyers returned but we need a pullback to pick up value. The 120 level above is the target now, and I believe that there are several different areas wher ...

USD/CAD Forecast December 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 23 December 2016 06:23 UTC
The USD/CAD pair broke higher during the day on Thursday, testing the 1.35 level for resistance. We turned around at that level, so of course it looks as if we are going to struggle to break above their, the most certainly looks as if the buyers are starting to become a bit more aggressive. Longer ...

GBP/USD Forecast December 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 23 December 2016 06:21 UTC
The British pound fell on Thursday, as we continue to grind lower. In fact, we have broken below the 1.23 level, so it looks as if the market will probably continue down to the 1.21 Anna below. This is an area that should be supportive yet again, as we have seen such a nice bounce from there. Ulti ...

EUR/USD Forecast December 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 23 December 2016 06:20 UTC
The EUR/USD pair rose on Thursday, but found quite a bit of resistance at the 1.05 level. This is an area that was massively supportive in the past, so it’s not a surprise that it is resistive now. The fact that we are starting to form some type of shooting Star also suggests to me that the sell ...

AUD/USD Forecast December 23, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 23 December 2016 06:19 UTC
The Australian dollar had a volatile session on Thursday as we continue to bang around at fresh, new lows. I believe that the market is going to reach down to the 0.70 level underneath, and at this point I’m a seller of any rally that shows signs of exhaustion. Gold markets look very soft and do ...

USD/JPY Forecast December 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 22 December 2016 07:24 UTC
The USD/JPY pair initially fell on Wednesday but found enough support underneath to turn things back around and form a hammer. That suggests that we are going to continue to go higher, perhaps reaching towards the 120 handle. I believe that the 115 level below continues to be the “floor” in th ...

USD/CAD Forecast December 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 22 December 2016 07:22 UTC
The USD/CAD pair rallied just a bit during the session on Wednesday, as we continue to see a lot of choppiness in this pair. Keep in mind that the Canadian dollar is driven by the value of oil, and of course there is quite a bit of noise just above. That noise should continue to be resistive, so I ...

GBP/USD Forecast December 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 22 December 2016 07:21 UTC
The British pound went back and forth on Wednesday, as we continue to chop just below the previous uptrend line. Because of this, it’s likely that the market is trying to figure out which way it wants to go next, and currently I think that the volume isn’t going to be strong enough to push thi ...

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