USD/CAD Forecast July 13, 2012, Technical Analysis
The USD/CAD pair had a fairly volatile session on Thursday as it initially rose, only to fall back and form a shooting star. The pair is sitting on top of support at the 1.0150 level, and as...
Category: Daily Forex Reports
GBP/USD Forecast July 13, 2012, Technical Analysis
The GBP/USD pair fell during most of the Thursday session in order to break down below recent support. The 1.55 level has been taken out at this point, and it does suggest to us that this pair...
EUR/USD Forecast July 13, 2012, Technical Analysis
EUR/USD fell during the Thursday session as the rout of the Euro continued. The 1.2200 level has offered a bit of support, and as such we did see a bit of a hammer formed for the Thursday...
AUD/USD Forecast July 13, 2012, Technical Analysis
AUD/USD fell during the session on Thursday, and in fact underperformed its cousin the Kiwi dollar. This suggests that perhaps any “risk off” trades in the currency markets should favor selling the Australian dollar over the Kiwi...
AUD/USD: trend-line break
The aussie has broken down below a major trend-line and is continuing lower. It will probably fall even further reaching a cluster of support including the 50-day MA at around parity or 1.0005. A break below 1.0100...
EUR/USD: bounce possible
Eurodollar has fallen to close to support at 1.2200 from where it will probably bounce. This is at the level of the lower line of a bearish wedge seen on the daily chart. RSI is also showing...
More Euro Difficulties Seem Likely
Yesterday in Madrid Spanish Prime Minister Mariano Rajoy, bending to the wishes of Berlin and Brussels, announced the next dose of austerity, intended to produce €65B in savings. The previous austerity measures have sent unemployment soaring, 24% overall...
Euro Hits New Lows against Main Rivals
The euro fell against most of its main currency rivals yesterday, as investors remained concerned about how a plan to bring down Spanish and Italian borrowing costs will be implemented. The EUR/GBP hit a 3 ½ year...
EUR/USD Forecast July 12, 2012, Technical Analysis
The EUR/USD pair fell during the session on Wednesday, but did manage to bounce back and form a relatively neutral candle. The beauty of the candle though is that it sets up a relatively straightforward trade.
USD/JPY Forecast July 12, 2012, Technical Analysis
The USD/JPY pair initially fell during the Wednesday session, but got a boost after the Federal Reserve minutes revealed that there were no serious discussions about quantitative easing. As this could be the case, it makes sense...