Paxforex – US New Home Sales Surge 7.9%
USD bulls received good economic news out of the US today. New home sales rose 7.9% in August to a 421,000 unit annual rate. While the news were positive it comes on the back of July’s 14.1%...
Category: Daily Forex Reports
USD/CHF Downtrend to Hold? (September 25, 2013)
USD/CHF has been trending lower in the past few days but it seems to be having difficulty sustaining its decline past the .9100 major psychological support level. With that, a pullback might be in the works, possibly...
USD/JPY Forecast September 25, 2013, Technical Analysis
The USD/JPY pair went back and forth during the session on Tuesday, essentially going nowhere in the end. The resulting candle is a shooting star, and of course it suggests that we are going lower, but in...
USD/CAD Forecast September 25, 2013, Technical Analysis
The USD/CAD pair fell initially during the session on Tuesday, but as you can see bounced enough to form a fairly supportive of green candle. The 1.03 level has offered enough support to produce this candle, and...
GBP/USD Forecast September 25, 2013, Technical Analysis
The GBP/USD pair fell during the majority of the session on Tuesday, breaking below the 1.60 handle. This area is a significantly large round number, so of course there was a certain amount of interest in it...
EUR/USD Forecast September 25, 2013, Technical Analysis
The EUR/USD pair initially tried to rally during the session on Tuesday, but as you can see was be back in ended up falling down to the 1.3470 handle. The shape of the candle is a shooting...
AUD/USD Forecast September 25, 2013, Technical Analysis
The AUD/USD pair fell during the session on Tuesday, showing the 0.94 level as far too resistive. That being the case, it appears the market is going to pull back slightly from here, but we do expect...
AUD/USD: Break and Retest Scenario? (September 24, 2013)
AUD/USD seems to be having trouble sustaining its rallies, as a major correction might take place instead. The pair found resistance at .9500 and may pull back to an area of interest before resuming its rally.
USD/JPY Forecast September 24, 2013, Technical Analysis
The USD/JPY pair fell during the session on Monday, showing signs of weakness yet again. However, we look at this market as one that’s essentially consolidating, and because of that we do not fear any type of...
USD/CAD Forecast September 24, 2013, Technical Analysis
The USD/CAD pair fell slightly during the session on Monday, looking very much like a pair that wants to continue to consolidate in this general vicinity. We feel that there is a significant amount of support somewhere...