EUR/USD Forecast May 15, 2017, Technical Analysis
The EURUSD pair broke higher during the session on Friday, clearing the top of both the Wednesday and Thursday candles after less than stellar US numbers came out.
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AUDUSD Descending Channel May 15, 2017
AUDUSD has been trending lower recently and is now moving inside a descending channel on its 4-hour chart. Price just bounced off support and is looking to pull back to the resistance at the .7450 minor psychological level.
USDCAD Forecast May 12, 2017, Technical Analysis
The USDCAD pair had a very rough session on Thursday, initially surging much higher, then pulling back drastically, only to bounce again to the highs, and then pulling back to show weakness yet again.
AUDUSD Forecast May 12, 2017, Technical Analysis
The Australian dollar had an interesting session, initially falling, perhaps in sympathy to the moves in the New Zealand dollar.
EURUSD Forecast May 10, 2017, Technical Analysis
After initially gapping higher on Monday, the EURUSD pair has fallen apart. This was a “buy the rumor, sell the news” type of situation when it came to the French elections, and this pullback has been absolutely brutal.
AUDUSD Forecast May 10, 2017, Technical Analysis
The AUDUSD pair fell during the day on Tuesday, as the 0.74 level continues to offer resistance.
USDCAD Forecast May 5, 2017, Technical Analysis
The US dollar continues to grind sideways against the Canadian dollar as we have seen over the last couple of days. I believe that the market breaking down in WTI Crude suggests that the market will eventually go higher.
AUDUSD Forecast May 5, 2017, Technical Analysis
The Australian dollar fell a bit during the day on Thursday, as we continue to see weakness in the commodity markets. Gold markets fell apart, and that of course is a very negative when it comes to the Australian dollar.
EURUSD Forecast May 5, 2017, Technical Analysis
The EURUSD pair rally during the day on Thursday, slamming into the 1.0950 level. That is the top of the recent consolidation area though, and with the job number coming out during the day as well, I believe that it makes sense that the market will probably struggle to make any real headway now.
AUDUSD Forecast May 2, 2017, Technical Analysis
The Australian dollar rallied on Monday, breaking well above the 0.75 level during the day, and crashed into the 0.7540 level. This is an area that could feature some resistance based upon a cluster from April 25, so I’m not excited about buying in this general vicinity.