Forex-Metal Weekly Analysis
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Category: Daily Forex Reports
Eurodollar has corrected back from Friday’s highs
Eurodollar has corrected back from Friday’s highs, but there is a possibility that the pull-back is now complete and the up-trend will resume. I would expect an immediate move to reach 1.3275 and then stop due to...
GBP/USD: possible top in place
The GBP/USD pair has pulled back since making new highs on Friday; momentum is very overbought and the breakout from the triangle has fulfilled its price objective signalling that porbably a temporary top is now in place....
USD/CAD: Fears Resurface, Greenback Gains
The bullish run in the financial markets looks to have lost its momentum as fears over the state of global finances resurfaced. The US dollar stands to gain over its Canadian counterpart to commence the week’s exchanges...
Risk Taking Leads to Further Dollar Losses
The US dollar fell against most of its main currency rivals on Friday, a day after the Fed announced a new round of quantitative easing to stimulate growth in the US economy.
USD/JPY Forecast September 17, 2012, Technical Analysis
The USD/JPY pair rose like a rocket during the Friday session as the market cleared the 78 handle without much resistance. This is interesting as it should have been very resistive been that it was so supportive...
USD/CAD Forecast September 17, 2012, Technical Analysis
The USD/CAD pair formed a hammer on the Friday session as the 0.97 level offered a bit of support. This was somewhat counterintuitive, but more than likely it had to do with traders not willing to hold...
GBP/USD Forecast September 17, 2012, Technical Analysis
The GBP/USD pair rose significantly on Friday as the 1.62 handle has been broken. The market looks very supportive of the British pound in general, and as such we think this trend should continue.
EUR/USD Forecast September 17, 2012, Technical Analysis
The EUR/USD pair rose during the session on Friday, clearing the 1.30 level as resistance. This area should now form a little bit of support in this marketplace, and as such we would be interested in buying...
AUD/USD Forecast September 17, 2012, Technical Analysis
The AUD/USD pair had a strong showing for most of the session on Friday, but turned around and formed a shooting star. In fact, this was a very wicked shooting star that would have a lot of...