USDJPY Ascending Trend Line (Dec 20, 2016)
USDJPY is still trending higher, moving above an ascending trend line on its 1-hour time frame and gearing up for a test of support. Applying the Fib tool on the latest swing low and high shows that...
Category: Daily Forex Reports
EURAUD Range Setup (Dec 19, 2016)
EURAUD made another bounce off its support at the 1.4125-1.4150 area late last week and looks ready for a test of resistance at the 1.4500 major psychological mark. If this holds as a ceiling, the pair could...
USD/JPY Forecast December 19, 2016, Technical Analysis
The USD/JPY pair fell slightly during the day on Friday, as we are starting to get a little bit exhausted after the massive amount of bullish pressure that we have seen. I still think that the 150...
USD/CAD Forecast December 19, 2016, Technical Analysis
The USD/CAD pair initially tried to rally on Friday but gave back some of the gains in order to form something akin to a shooting star. I think we are going to roll over from here but...
GBP/USD Forecast December 19, 2016, Technical Analysis
The British pound bounced off an uptrend line during the day on Friday as we reached back towards the 1.25 handle. I still think this market breaks down given enough time, and a break down below the...
EUR/USD Forecast December 19, 2016, Technical Analysis
The EUR/USD pair had a slightly positive candle, but at the end of the day it still remains below the 1.05 level which is very bearish. I think that this market breaks down from here and reaches...
AUD/USD Forecast December 19, 2016, Technical Analysis
The AUD/USD pair broke down on Friday, making a fresh, new low. The 0.73 level is broken, and as a result it looks like we are going to continue to go lower. Any short-term rally at this...
USD/JPY Forecast December 16, 2016, Technical Analysis
The USD/JPY pair rallied again on Thursday as we continue to see US dollar strength in general. The 115 level should now be massively supportive, and essentially the “floor” in this market. A pullback should find plenty...
USD/CAD Forecast December 16, 2016, Technical Analysis
The USD/CAD pair rallied on Thursday, as we continue to see quite a bit of bullish pressure in this market. The 1.34 level of course is a large, round, psychologically significant number, but I believe that the...
GBP/USD Forecast December 16, 2016, Technical Analysis
The GBP/USD pair broke down below a trend line during the session on Thursday, slicing through the 1.25 level. If we can continue to go lower, and I think we will, we should reach towards the 1.23...