EUR/JPY: box pattern
There is a box consolidation on the hourly chart with upside potential. A decisive break above the 98.83 spike high could see a breakout followed by a probable rise up to the upper channel line at 99.75....
Category: Daily Forex Reports
EUR/USD: technical analysis – August 29, 2012
Eurodollar has pulled back after a sharp rally. It will probably resume its move higher and re-test the upper channel line at 1.2615. The bigger picture, however, indicates the formation of what is probably a fulcrum pattern...
EUR/USD: Euro Draws Strength from Speculations of ECB Action
In the previous European trading session, the Euro gained versus the US dollar after the European Central Bank (ECB) said that President Mario Draghi would not make an appearance at this week’s Jackson Hole Symposium, turning all...
Dollar Takes Losses Ahead of US Prelim GDP
The US dollar took losses against most of its main currency rivals yesterday, as speculations that the Fed may soon initiate a new round of quantitative easing caused investors to shift their funds to higher yielding assets.
EUR/USD Forecast August 29, 2012, Technical Analysis
The EUR/USD pair bounced off of the 1.25 handle on Tuesday as the bullish run continues. However, we aren’t comfortable going long of the Euro at this point in time as there is a lot of resistance...
USD/JPY Forecast August 29, 2012, Technical Analysis
The USD/JPY pair fell during most of the Tuesday session as the pair dug its way back into the supportive area between 78 and 78.75. The pair looks like it’s been supportive at the 78 handle by...
GBP/USD Forecast August 29, 2012, Technical Analysis
The GBP/USD pair had a fairly wild session on Tuesday as the market when both up and down in order to finish slightly higher. The candle looks a bit like a hammer, but not convincingly sell.
AUD/USD Forecast August 29, 2012, Technical Analysis
The AUD/USD pair had a back-and-forth session on Tuesday as the daily candle ended up being very neutral. The pair does look anemic at this point in time, and a move to the 1.03 level looks to...
USD/CAD Forecast August 29, 2012, Technical Analysis
The USD/CAD pair fell during the session on Tuesday, but managed to bounce in order to form a fairly impressive hammer just below the 0.99 level. The hammer does suggest for the second time within the last...
29-Aug: Daily FX perspective – GFM Research
The US Dollar slipped of yesterday’s European session highs to close weak, 81.00-81.20 is posting as support; daily close below 81.00 would lead to further depreciation in the USD across the board. Yesterday the benchmark equity index...