GBPUSD Retracement Play (August 13, 2014)
GBPUSD has been on a downtrend ever since the BOE showed a bit of hesitation when it comes to tightening monetary policy by the end of the year. Price has broken below a support area around the...
Category: Daily Forex Reports
USD/JPY Forecast August 12, 2014, Technical Analysis
The USD/JPY pair initially fell during the course of the day on Monday, but found enough support at the 102 handle to turn things back around and form a nice-looking hammer. This hammer of course suggests that...
USD/CAD Forecast August 12, 2014, Technical Analysis
The USD/CAD pair fell during the course of the day on Monday, showing significant resistance at the 1.10 level. However, we are most certainly in an uptrend at the moment, and as a result we believe that...
GBP/USD Forecast August 12, 2014, Technical Analysis
The GBP/USD pair rose slightly during the session on Monday, but found the 1.68 level resistive. This was an area of support previously, so the fact that we did not break above there is in fact interesting....
EUR/USD Forecast August 12, 2014, Technical Analysis
The EUR/USD pair fell during the course of the day on Monday, continuing to show a bit of a downtrend, and consolidating in this general vicinity. We believe that the 1.33 level is the significant support that...
AUD/USD Forecast August 12, 2014, Technical Analysis
The AUD/USD pair fell during the course of the day on Monday, but not significantly so. It appears that the market is essentially comfortable in this general vicinity, at the 0.9250 region. We believe that the market...
Global Employment Picture Sours – Paxforex
Many forex traders are only concerned with the headline non-farm payrolls figures released out of the US which have painted a not-so-bright picture themselves. The US economy continues to shed full-time positions and replaces them with part-time...
USD/JPY Forecast August 11, 2014, Technical Analysis
The USD/JPY pair initially fell during the course of the day on Friday, but as you can see the market did find enough buying pressure nearly 101.50 level to turn things back around and form a hammer....
USD/CAD Forecast August 11, 2014, Technical Analysis
The USD/CAD pair initially fell during the day on Friday, but as you can see found support at the 1.09 handle yet again, and bounce enough to form a hammer. The hammer suggests that there is buying...
GBP/USD Forecast August 11, 2014, Technical Analysis
The GBP/USD pair initially tried to rally during the session on Friday, but as you can see ended up falling below the 1.68 level. Because of this, we think that this is a reasonably very sign in...