Potential Reversal on EUR/USD? (October 16, 2013)
A complex head and shoulders pattern seems to be forming on EUR/USD’s 4-hour time frame, as the pair is testing the neckline around the 1.3500 handle.
Category: Daily Forex Reports
AUD/USD Forecast October 16, 2013, Technical Analysis
AUD/USD rose during the session on Tuesday, but fell back down in order to form a perfect shooting star. This shooting star is sitting right around the 0.95 handle, so there is a real chance that we...
USD/JPY Forecast October 15, 2013, Technical Analysis
The USD/JPY pair initially fell during the session on Monday, slamming into the bottom of the massive wedge that we have been following. The real question is whether or not the markets will be able to contain...
USD/CAD Forecast October 15, 2013, Technical Analysis
The USD/CAD pair fell during the session on Monday, but found support again at the 1.0350 region. This area should be supportive as far as we can tell, and as a result we are not ready to...
GBP/USD Forecast October 15, 2013, Technical Analysis
The GBP/USD pair tried to rally during the session on Monday, but as you can see the 1.60 level offered far too much resistance, and as a result the market formed a little bit of the shooting...
EUR/USD Forecast October 15, 2013, Technical Analysis
The EUR/USD pair tried to rally during the session on Monday, and did in fact crack above the 1.36 handle, but as you can see failed miserably and pulled back to form a shooting star.
AUD/USD Forecast October 15, 2013, Technical Analysis
The AUD/USD pair rose during the session on Monday, but as you can see struggle that the 0.95 handle and got pushed down. However, this is a market that we are watching with great interest right now...
GBP/JPY Trend Line Bounce (October 14, 2013)
GBP/JPY is still on a steady uptrend on its longer-term time frame, despite the selloff seen in the past few weeks. The pair has just bounced off the rising trend line on the daily time frame after...
USD/JPY Forecast October 14, 2013, Technical Analysis
The USD/JPY pair rose again for the session on Friday, stopping at the 98.53 level. This is the very bottom of the pennant that we had been trading in, so it’s interesting to see whether or not...
USD/CAD Forecast October 14, 2013, Technical Analysis
The USD/CAD pair fell hard during the session on Friday, smashing through the bottom of the hammer that had formed on Thursday. That turns that hammer into a bit of a “hanging man”, but in the end...