USD/JPY Forecast May 2, 2012, Technical Analysis
The USD/JPY pair had a volatile day on Tuesday as the 80 level continues to be a magnet for action. The level is a massively supportive area, as it was the scene of a massive breakout back...
Category: Daily Forex Reports
GBP/USD Forecast May 2, 2012, Technical Analysis
The GBP/USD pair fell for much of the Tuesday session, only to bounce and form a hammer by the end of the day. The hammer was formed at the 1.62 level, and as a result it looks...
AUD/USD Forecast May 2, 2012, Technical Analysis
The AUD/USD pair fell on Tuesday as the Reserve Bank of Australia cuts rates by .50 percent during the early part of the session. This of course led to Aussie selling, and as a result the pair...
USD/CAD Forecast May 2, 2012, Technical Analysis
The USD/CAD pair fell during the session on Tuesday as the oil markets broke out above the $105 resistance level. The pair continues to be bearish overall, and as a result this market is only sold by...
AUD Tumbles Following Interest Rate Cut
The AUD took heavy losses vs. its main currency rivals during yesterday’s trading session, falling a bigger than expected cut in Australian interest rates. The AUD/USD fell over 100 pips following the news, reaching as low as...
USD Remains Bearish During Slow Trading Day
The US dollar extended its bearish trend during yesterday’s trading session, as investors continued to digest the disappointing US Advance GDP figure released last week. The greenback hit a two month low against the Japanese yen while...
EUR/USD Forecast May 1, 2012, Technical Analysis
The EUR/USD pair continued to confound traders on Monday, while not only going back and forth, but also giving everyone a little bit of what they want. Simply put, the market isn’t willing to take too many...
USD/JPY Forecast May 1, 2012, Technical Analysis
USD/JPY has been an interesting market lately. The technical outlook for this pair has seen wild swings in momentum, and many traders and analysts are out there preaching one thing last week and another this week.
GBP/USD Forecast May 1, 2012, Technical Analysis
The GBP/USD pair fell hard on the Monday session as the rally finally stalled. This wasn’t a big surprise on a day that saw so much risk aversion in general, especially since the pair has been so...
AUD/USD Forecast May 1, 2012, Technical Analysis
AUD/USD fell during the session on Monday as the “risk off” trade came back. The fears of recession now are back out there as the Spanish situation continues to deteriorate. Because of this, risk assets in general...