USD/CAD Forecast January 6, 2017, Technical Analysis
The USD/CAD pair fell hard on Thursday, as we continue to see quite a fair amount of negative pressure in this market. However, I see quite a bit of support on the uptrend line that we have...
Category: Daily Forex Reports
GBP/USD Forecast January 6, 2017, Technical Analysis
The British pound rallied again against the US dollar, after initially falling. This is a very bullish looking candle that we have an uptrend line from the previous trend just above, and it coincides nicely with the...
EUR/USD Forecast January 6, 2017, Technical Analysis
The EUR/USD pair rallied on Thursday, as we broke above the 1.05 level. In fact, the Euro looks rather strong, but I recognize that the 1.07 level above as a bit of a “ceiling” in this market,...
AUD/USD Forecast January 6, 2017, Technical Analysis
The AUD/USD pair broke out during the day on Thursday, clearing the 0.73 level. We are dealing with a significant amount of resistance in this general vicinity, but it looks as if the Australian dollar is trying...
EURGBP Ascending Triangle (Jan 06, 2017)
EURGBP has formed higher lows on its 1-hour chart and is testing resistance at the .8575, creating an ascending triangle formation. Price is approaching the peak of the triangle so a breakout in either direction might be...
GBPUSD Short-Term Reversal (Jan 05, 2017)
GBPUSD has been selling off recently but a reversal pattern has formed on its 1-hour time frame. Price failed in its last two attempts to break below the 1.2200 major psychological level, creating a double bottom with...
USD/JPY Forecast January 4, 2017, Technical Analysis
The USD/JPY pair initially broke out during the day on Tuesday but found enough resistance above the turn around and suddenly form a semi exhaustive looking candle. I still believe longer-term we go much higher, so I...
USD/CAD Forecast January 4, 2017, Technical Analysis
The US dollar had a choppy session against the Canadian dollar on Tuesday as traders continue to come back from the holiday season. We are currently testing the 1.34 level for support, and finding it. I also...
GBP/USD Forecast January 4, 2017, Technical Analysis
The GBP/USD pair went back and forth on Tuesday, but ultimately settled on a somewhat neutral candle. I think the we could bounce from here, but we should find plenty of resistance above. I’m waiting to see...
EUR/USD Forecast January 4, 2017, Technical Analysis
The EUR had an extraordinarily volatile session on Tuesday as traders came back. At one point, we made a fresh new low. However, we turned around to form a candle that could be thought of as somewhat...