USD/CAD Forecast May 15, 2017, Technical Analysis
The USD/CAD pair went back and forth on Friday as we continue to grind just above the 1.37 handle. This is a market that should face what’s going on in the oil markets, which look to be...
Category: Daily Forex Reports
GBP/USD Forecast May 15, 2017, Technical Analysis
The GBP/USD pair fell slightly during the session on Friday, but found support near the 1.2850 level. We formed a bit of a hammer, but quite frankly I feel that there is a significant amount of support...
EUR/USD Forecast May 15, 2017, Technical Analysis
The EUR/USD pair broke higher during the session on Friday, clearing the top of both the Wednesday and Thursday candles after less than stellar US numbers came out. That being the case, the market then would reach...
AUD/USD Forecast May 15, 2017, Technical Analysis
The Australian dollar rallied during the day on Friday, but found enough resistance above the 0.74 level to turn things around and form a shooting star. While this is a negative sign, and we are sitting the...
Macron’s Triumph Removes Eurozone Political Risk
Emmanuel Macron won the presidential election last Sunday, defeating Marine Le Pen, a far-right nationalist who wanted to take France out of the European Union. Markets had feared that Le Pen’s win could threaten the EU project,...
SPX Elliott Wave View: Pull back started
Short Term Elliott Wave view in SPX suggests the rally from 3/27 low (2322.2) ended at 2403 as a leading diagonal Elliott Wave structure where Minute wave ((i)) ended at 2378.3, Minute wave ((ii)) ended at 2328.95, Minute wave ((iii)) ended at...
USDCNH Moved in Ascending Price Channel on 4-hour Chart
USDCNH moves in the ascending price channel on 4-hour chart which is providing the near term support around 6.8910, indicating that the pair remains in the short term uptrend from 6.8680, and upward movement extended to as...
GBPAUD Channel Retracement (May 12, 2017)
GBPAUD is moving inside an ascending channel connecting its highs and lows since mid-April. Price just bounced off the resistance and could be due for a test of support at the 1.7400 major psychological level. Using the...
USD/JPY Forecast May 12, 2017, Technical Analysis
The USD/JPY pair had a negative session on Thursday, but found enough support at the 113.50 level to turn things around and form a perfect hammer on the hourly chart. It now looks as if the market...
USD/CAD Forecast May 12, 2017, Technical Analysis
The USD/CAD pair had a very rough session on Thursday, initially surging much higher, then pulling back drastically, only to bounce again to the highs, and then pulling back to show weakness yet again. This very violent...