Technical Analysis

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.

GBPUSD Forecast May 2, 2017, Technical Analysis

The British pound continues to march higher during the Monday session, and as you can see I have a trendline on the hourly chart showing that we have seen buying pressure again and again.

AUDUSD Forecast May 1, 2017, Technical Analysis

The AUDUSD pair initially fell on Friday but found enough support at the 50% Fibonacci retracement level to bounce a bit.

AUDUSD Forecast April 26, 2017, Technical Analysis

Commodity currencies got beat severely during the session on Tuesday and of course the Australian dollar was no different.

EURUSD Forecast April 25, 2017, Technical Analysis

The EURUSD pair gapped at the open on Monday, as the French elections gave traders confidence in the EUR again.

EURUSD Forecast April 20, 2017, Technical Analysis

The EURUSD pair pulled back just a bit during the trading session on Wednesday, but still looks bullish and overall the market has been grinding higher sense late December.

AUDUSD Forecast April 20, 2017, Technical Analysis

The AUDUSD pair fell significantly during the day, testing the 0.75 level.