Will the British Pound rebound? – Paxforex
The British Pound has lost a lot of ground over the past few trading weeks as forex traders decided to take profits after a strong rally. The rally in the British Pound which lasted several months was...
Month: August 2014
USDCHF Retracement Setup (August 22, 2014)
USDCHF has recently broken above strong resistance level at the .9100 major psychological mark. Price has rallied close to the .9150 area before retreating, possibly to make a retest of the broken resistance before heading higher. Stochastic...
USDCHF Long-Term Reversal (Aug 21, 2014)
USDCHF looks poised for more upside, as the pair is breaking above an area of interest and neckline of a reversal pattern on its daily time frame. Stochastic is still moving up, indicating buying momentum. As you...
USDJPY Ascending Trend Channel (Aug 20, 2014)
USDJPY has been moving inside a rising channel on its 4-hour forex time frame, with price gearing up to test the top of the range around the 103.50 minor psychological resistance. Stochastic is already in the overbought...
GBP/USD Forecast August 20, 2014, Technical Analysis
The GBP/USD pair fell hard during the course of the day on Tuesday as CPI numbers out of the United Kingdom came out much less strong than anticipated. Because of this, the British pound loss strength and...
EUR/USD Forecast August 20, 2014, Technical Analysis
The EUR/USD pair fell hard during the course of the day on Tuesday, but did not break down below the 1.33 handle, an area that we need to see violated to the downside in order to start...
AUD/USD Forecast August 20, 2014, Technical Analysis
The AUD/USD pair initially went higher during the course of the day on Tuesday, but ended up falling in forming a relatively negative candle as we pressed against the 0.93 level. We think that the market will...
USDCAD Daily Analysis – August 20, 2014
USDCAD broke above 1.0940 resistance, indicating that the downward movement from 1.0985 had completed at 1.0860 already. Further rise to test 1.0985 resistance is possible, a break above this level could trigger another rise towards 1.1500. On...
USDCHF Daily Analysis – August 20, 2014
USDCHF broke above the upper line of the price channel on 4-hour chart, indicating that the fall from 0.9114 had completed at 0.8997 already. Further rise could be expected, and next target would be at 0.9200 area....
USDJPY Daily Analysis – August 20, 2014
USDJPY continued its upward movement from 101.50, and is now facing 103.08 resistance, a break above this level will target 104.00 area. Support is now at 102.50, only break below this level will indicate that the uptrend...