AUDUSD Daily Analysis – May 8, 2014
AUDUSD is now in uptrend from 0.9202, and the rise extended to as high as 0.9374. Further rise could be expected, and next target would be at 0.9500 area. Support levels are at 0.9315 and 0.9250, only...
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GBPUSD Daily Analysis – May 8, 2014
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.6465 (Mar 24 low), the fall from 1.6996 could be treated as consolidation of the uptrend. As long as the trend line...
EURUSD Daily Analysis – May 8, 2014
EURUSD remains in uptrend from 1.3775, the fall from 1.3951 is likely consolidation of the uptrend. Support is now located at the upward trend line on 4-hour chart. As long as the trend line support holds, the...
Central Bank Decision May Weigh on Forex Markets – Paxforex
Tomorrow forex traders will get two important central bank decisions; one from the Bank of England which is likely to have an impact on the British Pound and one from the European Central Bank which should move...
NZD/USD Break and Retest Setup (May 7, 2014)
NZD/USD made a strong upside break from the top of its range, which is around the .8700 major psychological resistance. This level could act as support moving forward, as it is close to the 38.2% Fibonacci retracement...
USD/JPY Forecast May 7, 2014, Technical Analysis
The USD/JPY pair fell rather hard during the session on Tuesday, slamming into an uptrend line that has been in effect for several months now. On top of that, the 101.50 level is massive support as well....
USD/CAD Forecast May 7, 2014, Technical Analysis
The USD/CAD pair fell hard during the session on Tuesday, testing the support level below that is the absolute bottom of the consolidation area. While we anticipate that there should be buyers in this region, the fact...
EUR/USD Forecast May 7, 2014, Technical Analysis
The EUR/USD pair rose during the session on Tuesday, after the Germans printed better than anticipated numbers with the Services PMI announcement. With this, we slammed into the 1.3950 area, but could not break above there. However,...
AUD USD Forecast May 7, 2014, Technical Analysis
The AUD/USD pair took off to the upside during the session on Tuesday, breaking the top of the hammers and more importantly, breaking above the sideways grind that we have been stuck in for 2 weeks. With...
USDCAD Daily Analysis – May 7, 2014
USDCAD is facing 1.0857 support, a breakdown below this level will signal resumption of the downtrend from 1.1278 (Mar 20 high), then next target would be at 1.0700 area. Resistance is at 1.0950, only break above this...