CADJPY Countertrend Setup (Oct 30, 2014)
CADJPY is in a rising channel on its 1-hour time frame but is already nearing the top of the range. Resistance at the 97.50-98.00 area might hold and push the pair back to the bottom of the...
Category: Daily Forex Reports
USD/JPY Forecast October 30, 2014, Technical Analysis
The USD/JPY pair initially fell during the course of the day on Wednesday, but after a hearty statement by the Federal Reserve, this pair went higher and broke out to the upside. It now seems almost a...
USD/CAD Forecast October 30, 2014, Technical Analysis
The USD/CAD pair went higher during the session on Wednesday after the Federal Reserve released a more hawkish than anticipated statement. We broke back above the 1.12 level, but there is a significant amount of resistance just...
GBP/USD Forecast October 30, 2014, Technical Analysis
The GBP/USD pair fell hard during the course of the day on Wednesday after the Federal Reserve released a fairly hawkish statement. However, the 1.60 level is significant support, so one has to wonder whether or not...
EUR/USD Forecast October 30, 2014, Technical Analysis
The EUR/USD pair initially tried to rally during the course of the day on Wednesday, but a stronger and more hawkish than anticipated statement coming out of the Federal Reserve of course sent this market lower as...
AUD/USD Forecast October 30, 2014, Technical Analysis
The AUD/USD pair initially tried to break out during the session on Wednesday, but with the Federal Reserve stepping in and releasing a hawkish statement, the market broke back down below the 0.88 level during the day....
EURJPY Double Bottom Breakout (Oct 29, 2014)
The downtrend on EURJPY seems to be over, as price formed a double bottom pattern on its 1-hour time frame and broke past the neckline resistance around 137.00. The pair is climbing past the 138.00 handle and...
CADJPY Ascending Trend Channel Support (Oct 28, 2014)
CADJPY has been forming an ascending trend channel on its 1-hour forex chart, as it made higher highs and higher lows. A bullish divergence can be seen, with stochastic making lower lows. MACD is also reflecting a...
USD/JPY Forecast October 28, 2014, Technical Analysis
The USD/JPY pair fell during the course of the day on Monday, but found enough support at the 107.50 level to turn things back around and form a nice-looking hammer. This was an area that we had...
USD/CAD Forecast October 28, 2014, Technical Analysis
The USD/CAD pair rose during the course of the day on Monday, using the 1.12 level for support yet again. We remain bullish of this market, but realize that we will probably just go sideways overall between...