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Daily Forex Reports


EUR/USD Forecast June 26, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 26 June 2014 06:58 UTC
The EUR/USD pair broke higher during the session on Wednesday, but could not break out to the upside. With that being the case, we feel that the market is probably going to attempt to go higher, but quite frankly there’s so much resistance that we are hesitant to start buying. In fact, we still ha ...

USD/CAD Forecast June 26, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 26 June 2014 06:58 UTC
The USD/CAD pair fell during the session on Wednesday, staying within the consolidation area that we have seen over the last several sessions. That being the case, the 1.07 level looks to be supportive, and a break below their sends in this market looking for the 1.06 handle. That area is the beginn ...

GBP/USD Forecast June 26, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 26 June 2014 06:56 UTC
The GBP/USD pair went back and forth during the session on Wednesday, essentially settling on a fairly unchanged candle. We tried to break above the 1.70 level, but failed. On the other hand, we found plenty of support near the 1.6950 level, and as a result the market is still trying to figure out w ...

AUD/USD Forecast June 26, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 26 June 2014 06:56 UTC
The AUD/USD pair bounce from the lows during the session on Wednesday, showing that we still have plenty of support below and that the pressure should continue to break out and above the 0.95 handle. If we can get above that level, this market should continue to go to the parity level, and as a resu ...

US GDP Down, Housing Up – Paxforex

Daily Forex Reports | by Paxforex | Wednesday, 25 June 2014 15:03 UTC
US GDP was revised sharply lower today which pressured the US Dollar. First-quarter GDP was initially stated at a contraction of 1.0%. US equity markets brushed off the disappointment and rallied higher while the US Dollar struggled as forex traders sold off the US currency. The headwinds grew as ot ...

EUR/GBP Retracement Setup (June 25, 2014)

Daily Forex Reports | by Kate Curtis | Wednesday, 25 June 2014 08:06 UTC
EUR/GBP is showing signs of pulling back to the retracement levels and trend line marked on the 4-hour time frame. As you can see, the 50% Fibonacci retracement level lines up with the .8050 minor psychological level, which might act as resistance for the pair. Stochastic seems to be showing signs ...

USD/JPY Forecast June 25, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 25 June 2014 06:55 UTC
USD/JPY pair trying to rally during the session on Tuesday, but found enough resistance above teacher things back around form a shooting star. With that, it looks as if the market simply can’t go anywhere, and a pullback it could happen. Nonetheless, we aren’t interested in trading this market a ...

USD/CAD Forecast June 25, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 25 June 2014 06:54 UTC
The USD/CAD pair fell initially during the session on Tuesday, but found enough support to turn things back around and form a hammer. The hammer sits just below the 1.0750 level, which of course is a somewhat supportive level to begin with. Nonetheless, the breakdown below the 1.08 level is a negati ...

GBP/USD Forecast June 25, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 25 June 2014 06:54 UTC
The GBP/USD pair fell during the session on Tuesday, slicing through the 1.70 handle. While this is a negative move, there is a significant amount of support below, thereby making it impossible for us to start selling. In fact, we saw enough of a bounce towards the end of the day that we think the b ...

EUR/USD Forecast June 25, 2014, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 25 June 2014 06:53 UTC
The EUR/USD pair went back and forth on Tuesday, essentially hugging the 1.63 handle yet again. Because of this, we have no interest in trading this pair of the moment as it is essentially at the direct center of the larger consolidation area which we see as having a floor at 1.35, and a ceiling at ...

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