EURUSD Forecast August 26, 2015, Technical Analysis
The EURUSD pair fell during the day on Tuesday, slamming into the 1.14 handle.
The EURUSD pair fell during the day on Tuesday, slamming into the 1.14 handle.
The AUDUSD pair initially tried to rally during the course of the day on Tuesday, but found itself struggling yet again.
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NZDUSD is forming a descending triangle on its 4-hour time frame, making lower highs and finding support around the .6500 major psychological level. Price just got rejected on its latest test of the triangle resistance and is making its way back towards the bottom of the triangle.
The AUDUSD pair initially broke higher during the course of the session on Wednesday, but found enough resistance near the 0.74 level to turn things back around.
On Wednesday, the U.S. Federal Reserve is set to release its July meeting minutes, giving investors a glimpse into the bank’s discussions regarding an interest rate hike. At the moment, many believe there is a 50/50 chance that the bank will raise rates in September, though unforeseen economic conditions around the world could postpone those plans.
The EURUSD pair fell during the day on Tuesday, reaching down towards the 1.10 handle.
The AUDUSD pair broke down a little bit during the session on Tuesday, but quite frankly we have a lot of noise below us.
Last week, the People’s Bank Of China allowed the yuan to fall sharply, causing chaos in share markets and drawing criticism from multinationals who said the move would hurt their businesses.
NZDUSD got rejected in its test of the descending triangle resistance and is now moving back to the bottom around the .6500 major psychological level. Whether a bounce or a break takes place depends on the outcome of the economic reports from New Zealand in the next few days.