EURJPY Descending Channel (Feb 23, 2017)
EURJPY is trending lower on its 4-hour chart, moving inside a descending channel connecting the latest highs and lows of price action. The pair is bouncing off support at the moment and may be due for a...
Category: Daily Forex Reports
USD/JPY Forecast February 22, 2017, Technical Analysis
The USD/JPY pair rallied a bit during the day on Tuesday as we continue to see support near the 112.500 level. If we can break above the top of the range I think that we will test...
USD/CAD Forecast February 22, 2017, Technical Analysis
The USD/CAD pair rally during the day on Tuesday, breaking above the 1.31 handle. It looks as if the markets are going to have a significant amount of push back at the 1.32 level above, so even...
GBP/USD Forecast February 22, 2017, Technical Analysis
The GBP/USD pair fell during the day on Tuesday initially but found enough support near the 1.24 level to turn things around to form a hammer. It now looks as if we are trying to break above...
EUR/USD Forecast February 22, 2017, Technical Analysis
The EUR/USD pair fell during the day on Tuesday, reaching towards the 1.05 level, an area that I think should cause quite a bit of support. If we can break down below there though, the market could...
AUD/USD Forecast February 22, 2017, Technical Analysis
The AUD/USD pair fell on Tuesday, but found enough support near the 0.7650 level to turn things around to form a hammer. The hammer of course is a very bullish sign, and if we can break above...
EURGBP Head and Shoulders (Feb 22, 2017)
EURGBP formed a long-term reversal pattern visible on its daily time frame, signaling that price is done with its climb and that a selloff could be due. The pair is still testing the neckline support at .8400-.8450...
USD/JPY Forecast February 21, 2017, Technical Analysis
The USD/JPY pair rallied a bit during the day on Friday, but the markets were quiet in general. The 112.50 level looks to be the beginning of significant support, and if we can break above the top...
USD/CAD Forecast February 21, 2017, Technical Analysis
The USD/CAD pair had a volatile session on Monday, as the 1.31 level offered enough resistance to keep the market fairly flat. This makes a lot of sense as US banks were closed for Presidents’ Day, so...
GBP/USD Forecast February 21, 2017, Technical Analysis
The GBP/USD pair rallied on Monday, slamming towards the 1.25 resistance barrier. If we can break above the 1.2550 level, I think that the market will continue to reach towards the 1.27 level. Pullbacks continue to find...