GBPUSD Daily Analysis – September 15, 2017
GBPUSD extended its upside movement from 1.2774 to as high as 1.3405, facing the resistance level at 1.3444. Near term support is at the bullish trend line on the 4-hour chart. As long as the price is...
Month: September 2017
EURUSD Daily Analysis – September 15, 2017
EURUSD stays below a bearish trend line on the 4-hour chart and remains in the short term downtrend from 1.2092. As long as the trend line resistance holds, the downside movement could be expected to continue and...
DXY Elliott Wave View: Zigzag Correction
DXY Dollar Index Short Term Elliott Wave view suggests that the Index ended Primary wave ((3)) at 91.01 and currently in a Primary wave ((4)) bounce. Internal of Primary wave ((4)) is unfolding as a zigzag Elliott wave structure....
EURUSD Is Facing Channel Support
EURUSD stays in a bullish price channel on its daily chart and remains in the uptrend from 1.0569. As long as the price is in the channel, the fall from 1.2092 could be treated as consolidation of...
EURJPY Countertrend Play (Sep 14, 2017)
EURJPY is still moving in an uptrend but is currently bouncing off the top of its ascending channel resistance on the 4-hour time frame. Stochastic is also turning lower from the overbought zone to indicate a pickup...
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USD/JPY Forecast September 14, 2017, Technical Analysis
The US dollar exploded to the upside against the Japanese yen during the session on Wednesday, as we continue to see buying pressure. Further exacerbating the move was talk of a tax reform package coming out of...
USD/CAD Forecast September 14, 2017, Technical Analysis
The US dollar had an interesting session on Wednesday, as we initially fell, but found enough support near the 1.2125 level to turn around and break out above the 1.22 handle. I think the market will continue...
GBP/USD Forecast September 14, 2017, Technical Analysis
The British pound initially went sideways during the session on Wednesday, but then collapsed below the 1.3250 level. This is an interesting move, because breaking above that level was important. The question now is whether we can...
EUR/USD Forecast September 14, 2017, Technical Analysis
The EUR/USD pair fell apart on Wednesday, as the 1.20 level has offered too much in the way of resistance, and of course there is word that a potential tax deal may be in the works. That...