EUR/USD Forecast August 20, 2012, Technical Analysis
The EUR/USD pair fell during most of the session on Friday, but did manage to bounce in order to form a hammer. We are currently hugging the uptrend line of a rising wedge, and as such we...
Category: Daily Forex Reports
USD/JPY Forecast August 20, 2012, Technical Analysis
The USD/JPY pair had another bullish session on Friday as the market plowed into the 79.50 level. We have recently broken out above consolidation and it appears that the market is dead set on running to the...
GBP/USD Forecast August 20, 2012, Technical Analysis
The GBP/USD pair fell during the Friday session as the 1.57-1.58 area continues to hold back the advances of the buyers. However, as you can see over time we have generally ground our way higher in this...
AUD/USD Forecast August 20, 2012, Technical Analysis
The AUD/USD pair had a very significant fall during the Friday session as the 1.05 level gave way. This was a strikingly strong move, but it should be mentioned that we are approaching the uptrend line of...
USD/CAD Forecast August 20, 2012, Technical Analysis
The USD/CAD pair rose during the Friday session as the 0.9850 level acted as support. The result of this was the printing of a hammer for the weekly candle, and it does look like we are going...
EUR/GBP: Merkel’s Comments Expected to Uphold the Euro
German Chancellor Angela Merkel seemed to have done something significant for the Euro Zone as market sentiment was lifted because of her statement conveying support for the European Central Bank’s plan to intervene in the bond markets.
Mixed Economic News – Is the Yen Finally Weakening?
There seems to be a disconnect between the economic news and market action. Specifically, the action of the Spanish IBEX 35 Index, today up 2.09%, and the Italian FTSE MIB Index up 1.08% seems to contradict economic...
USD/JPY Forecast August 17, 2012, Technical Analysis
USD/JPY had another good session on Thursday as the Yen continues to weaken. Looking at the charts, we have the breakout once we rose above the 78.75 level, and if you have been watching you know that...
USD/CAD Forecast August 17, 2012, Technical Analysis
The USD/CAD pair fell during the session on Thursday again, to break down well below the 0.99 handle. This market looks extremely bearish, but it should be noted that is moving in relatively slow motion. Because of...
GBP/USD Forecast August 17, 2012, Technical Analysis
The GBP/USD pair had a strong showing during the Thursday session as it initially fell, but bounced in order to form a very bullish candle. The 1.57 level has been overtaken again, and for the first time...