EURUSD Daily Analysis – September 11, 2014
EURUSD is forming a sideways consolidation in a range between 1.2859 and 1.2987.
EURUSD is forming a sideways consolidation in a range between 1.2859 and 1.2987.
The AUDUSD pair fell during most of the session on Wednesday, but bounce significantly off of the 0.91 handle, as we formed a massive hammer.
GBPUSD continued its downward movement from 1.6643, and the fall extended to as low as 1.6091.
AUDUSD has been trading inside a rising channel on its 1-hour forex time frame for the past month, but it looks like a breakdown is happening.
Whilst it’s been a torrid time for gold bugs, investors in silver have fared little better, with the metal falling from the dizzy heights of $50 per ounce, to currently trade at $19 per ounce.
USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 101.50, as long as the trend line support holds, the fall from 105.70 could be treated as consolidation of the uptrend.
GBPUSD’s downward movement from 1.6643 extended to as low as 1.6168.
AUDUSD upward movement from 0.9237 extended to as high as 0.9401.
The EURUSD pair fell hard during the session on Thursday as the European Central Bank surprised that the markets with a slight rate cut.
The AUDUSD pair tried to rally significantly during the session on Thursday but failed.