GBPNZD Retracement Play (Oct 10, 2014)
GBPNZD has been on a strong uptrend in the past few weeks, as diverging monetary policy biases have driven the pair to the 2.1000 levels. A correction is taking place, with the pair pulling back to the...
Category: Daily Forex Reports
EURUSD Major Correction (Oct 9, 2014)
EURUSD seems to have capped off its selloff, as price is now retreating from the 1.2500 levels to the 1.2700 area. The pair got a boost from a dovish FOMC minutes, which indicated that the Fed isn’t...
USDJPY Potential Reversal (Oct 8, 2014)
USDJPY appears to be having trouble sustaining its gains past the 110.00 major psychological resistance, as a double top pattern has formed on its 4-hour time frame. Price is currently testing the neckline around the 108.00 handle....
USD/JPY Forecast October 7, 2014, Technical Analysis
The USD/JPY pair fell during the course of the day on Monday, testing the 108.50 support area. We think that there is support all the way down to the 108 handle, so we have no interest whatsoever...
USD/CAD Forecast October 7, 2014, Technical Analysis
The USD/CAD pair fell hard during the course of the day on Monday, slicing through the 1.12 level as the Ivey numbers out of Canada came out stronger than anticipated. However, we are still well within the...
GBP/USD Forecast October 7, 2014, Technical Analysis
The GBP/USD pair broke much higher during the course of the day on Monday, breaking out above the 1.6050 region. The market still is a very bearish though, so we have no interest whatsoever in buying this...
EUR/USD Forecast October 7, 2014, Technical Analysis
The EUR/USD pair broke higher during the course of the day on Monday, testing the 1.2650 region. With that, it appears that the market is running into significant resistance, and as a result the market will more...
AUD/USD Forecast October 7, 2014, Technical Analysis
The AUD/USD pair broke higher during the course of the day on Monday, testing the 0.88 handle for resistance. With that, the market appears to be consolidating in this general vicinity, and we would have quite a...
EURUSD Descending Trend Line (Oct 7, 2014)
EURUSD has been moving in a downtrend for quite some time, forming a descending trend line in connecting the recent highs. The pair has bounced off the 1.2500 major psychological support level and pulled up to the...
How solid was the September NFP report? – Paxforex
On Friday we received the latest snapshot from the US labor market which send equity markets as well as the US Dollar rallying as the two most important headline figures, the job number and the unemployment rate,...