AUDUSD Double Top (Oct 28, 2016)
AUDUSD could be in for a quick reversal from its uptrend, as the pair formed a double top on its 1-hour time frame. Price failed in its last two attempts to break past the .7700 major psychological...
Month: October 2016
USDJPY Daily Analysis – October 28, 2016
USDJPY’s upward movement from 103.16 extended to as high as 105.34. Near term support is at the upward trend line on 4-hour chart. As long as the trend line support holds, the uptrend could be expected to...
AUDUSD Daily Analysis – October 28, 2016
AUDUSD’s downward movement from 0.7734 extended to as low as 0.7579. Further decline could be expected in a couple of days, and the target would be at 0.7540 area.
EURUSD Daily Analysis – October 28, 2016
EURUSD is facing the resistance of the downward price channel on 4-hour chart. As long as the channel resistance holds, the downtrend from 1.1279 could be expected to continue, and further decline to 1.0700 area is still...
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USD/JPY Forecast October 27, 2016, Technical Analysis
The USD/JPY pair rallied during the course of the session on Wednesday, but the 105 level below continues offer a significant amount of resistance. If we can break above the 105 level, the market could very well...
USD/CAD Forecast October 27, 2016, Technical Analysis
The USD/CAD pair initially fell during the course of the session on Wednesday, but turned around to form a bit of a hammer. This is the third day in a row that we have seen a hammer,...
GBP/USD Forecast October 27, 2016, Technical Analysis
The GBP/USD pair rallied slightly during the day on Wednesday, as we continue to try to form some type of base in this area. Ultimately though, I believe that any rally will be sold off sooner or...
EUR/USD Forecast October 27, 2016, Technical Analysis
The EUR/USD pair rallied rather significantly during the day on Wednesday, touching the 1.0950 region. However, we gave up a lot of this gains in order to form a shooting star like candle, and that of course...
AUD/USD Forecast October 27, 2016, Technical Analysis
The AUD/USD pair initially tried to rally during the course of the day on Wednesday but turned around to form a massive shooting star. While this is typically a negative sign, the reality is that the lows...