AUDUSD Forecast May 7, 2014, Technical Analysis
The AUDUSD pair took off to the upside during the session on Tuesday, breaking the top of the hammers and more importantly, breaking above the sideways grind that we have been stuck in for 2 weeks.
The AUDUSD pair took off to the upside during the session on Tuesday, breaking the top of the hammers and more importantly, breaking above the sideways grind that we have been stuck in for 2 weeks.
The AUDUSD pair fell during the session on Thursday, but found support at the all-important 0.9250 level again.
The EURUSD pair went back and forth during the session on Thursday, ultimately settling on a slightly positive candle.
The GBPUSD pair fell initially during the session on Thursday, but found enough support below at the 1.68 level to push things higher inform something along the lines of a hammer.
The USDJPY pair fell during the bulk of the session on Thursday, but found enough support right around the 102 level to turn things back around and form a hammer.
The AUDUSD pair went back and forth during the session on Monday, essentially settling nothing.
The EURUSD pair rose during the session on Wednesday, using the 1.38 level as a springboard. However, we pulled back enough to form a shooting star, and it appears that the market is going to continue to meander in this general sanity.
The EURUSD pair went back and forth during the session on Tuesday, forming a very neutral candle.
The USDJPY pair rose during the session on Monday, bouncing off of the obvious support level near the 101.25 level.
The EURUSD pair fell during the session on Monday, gapping lower as ECB members suggested that perhaps more monetary stimulus could come into play as the Euro is overvalued in their opinion.