NZD/USD Forming a Channel (December 5, 2013)
NZD/USD has been trending lower in the near term, as seen on the 1-hour and 4-hour time frames. To be specific, a falling channel is starting to form on the 4-hour chart, as the pair is getting...
Month: December 2013
Global Service Sector Snapshot – Paxforex
On Monday trader’s received plenty of report on the global manufacturing sector which overall came in much better than expected and some traders were hopefully that the more important service sector would follow suit and beat expectations...
GBP/USD Rising Trend Line (December 4, 2013)
GBP/USD has been making significant breaks above psychological handles recently, confirming that the pair has strong bullish momentum. However, there have been a few pullbacks, eventually creating a short-term rising trend line on its 1-hour time...
AUD/USD Forecast December 4, 2013, Technical Analysis
The AUD/USD pair fell during the session on Tuesday, but as you can see bounced rather hard from the 0.9550 handle. This resulted in a hammer, which of course is very supportive. However, we are most definitely...
EUR/USD Channel Support (December 3, 2013)
EUR/USD is still in its uptrend for now, although the pair was pushed down to test the channel support on the ascending trend line on the 1-hour time frame. A bounce from this area could take the...
USD/JPY Forecast December 3, 2013, Technical Analysis
The USD/JPY pair rose during the session on Monday, breaking above the 103 level at one point during the session. However, you can see that we pullback slightly, but we still have a nice solid looking candle...
USD/CAD Forecast December 3, 2013, Technical Analysis
The USD/CAD pair rose during the session on Monday, eclipsing the 1.06 handle by a significant amount. Finally. With that being the case, we are definitely looking to buy this market, and believe that any pullback at...
GBP/USD Forecast December 3, 2013, Technical Analysis
The GBP/USD pair tried to go much higher during the session on Monday, but as you can see turned around and formed a massive shooting star. The shooting star of course is bearish, but we don’t necessarily...
EUR/USD Forecast December 3, 2013, Technical Analysis
The EUR/USD pair went back and forth during the session on Monday, ultimately falling through the 1.3550 level though. This rather bearish candle doesn’t really do much for us though, as we still see significant support below...
AUD/USD Forecast December 3, 2013, Technical Analysis
The AUD/USD pair tried to rally during the session on Monday, but as you can see found far too much resistance and formed a shooting star. Because of this, we think that the market is going to...