USD/JPY Forecast November 24, 2016, Technical Analysis
The USD/JPY pair rose again during the day on Wednesday as we continue to slice to the upside. This is a market that is overbought though, and as a result I’m waiting to see a pullback in...
Category: Daily Forex Reports
AUD/USD Forecast November 24, 2016, Technical Analysis
The Australian dollar initially tried to rally during the day on Wednesday, but found the 0.7450 level above to be a bit too resistive to continue. Because of this, I believe that the market is going to...
USDCAD Downtrend Channel (Nov 24, 2016)
USDCAD appears to be starting a new trend down, creating a downtrend channel on its 1-hour time frame. Price just bounced off the 1.3400 support area and is making its way back up to the resistance at...
EUR/USD Forecast November 23, 2016, Technical Analysis
The EUR/USD pair initially rallied on Tuesday, but then struggled to hold the gains as we ended up falling yet again. It appears that the market is intent on reaching towards the 1.05 level given enough time,...
AUD/USD Forecast November 23, 2016, Technical Analysis
The Australian dollar initially tried to rally during the day on Tuesday, but found the 0.74 level above to be far too resistive. Because of this, the market looks as if it is going to turn around...
AUDUSD Triangle Correction (Nov 23, 2016)
AUDUSD recently broke below the descending triangle support visible on its 4-hour time frame. Price found support near the .7300 major psychological level then started to pull up. Applying the Fib tool on the latest swing high...
USD/JPY Forecast November 22, 2016, Technical Analysis
The US dollar continues to grind higher against the Japanese yen as we now find yourselves testing the 111 handle. However, this is an extraordinarily oversold market, so I’m not willing to go long here. I need...
AUD/USD Forecast November 22, 2016, Technical Analysis
The Australian dollar rally during the day on Monday, as we continue to see a bit of a bounce later in the session. This is a market that has a significant amount of bearish pressure above it...
USDCAD Reversal Signal (Nov 22, 2016)
USDCAD seems to be tired from its climb, as a double top pattern formed on its 1-hour time frame. Price is still testing the neckline at the 1.3400 major psychological level before conrfirming this reversal signal. A...
EURAUD Reversal Pattern (Nov 21, 2016)
EURAUD has formed a double bottom on its 1-hour time frame, signaling that price may be tired from its drop. The pair has yet to break past the neckline around 1.4550-1.4600 before confirming the potential climb. ...