AUDUSD Forecast November 4, 2014, Technical Analysis
The AUDUSD pair continues to show significant weakness as we gapped lower at the open.
The AUDUSD pair continues to show significant weakness as we gapped lower at the open.
EURUSD broke below 1.2500 support, indicating that the downtrend from 1.3700 (Jul 1 high) has resumed.
The EURUSD pair fell hard during the session on Thursday, but turned back around and bounced hard enough to form a beautiful looking hammer.
The AUDUSD pair bounced during the course of the day on Thursday, but still remains trapped in the basic consolidation that we have seen for some time now.
AUDUSD moved sideways in a range between 0.8642 and 0.8898.
USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 105.32.
GBPUSD continued its sideways movement in a range between 1.5874 and 1.6226.
EURUSD is now in downtrend from 1.2867, the rise from 1.2613 is likely consolidation of the downtrend.
AUDUSD continued its sideways movement in a range between 0.8642 and 0.8898.
GBPUSD moved sideways in a range between 1.5874 and 1.6226. As long as 1.6226 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.6524, and another fall to 1.5600 area could be expected after consolidation.