EURUSD Daily Analysis – June 4, 2014
EURUSD moved sideways in a narrow range between 1.3586 and 1.3668.
Currency Trading
USDJPY Forecast June 4, 2014, Technical Analysis
The USDJPY pair initially fell during the session on Monday, but as you can see ended up bouncing enough to form a hammer by the end of the day. This hammer of course suggests that the markets going to go higher, and as a result we believe that the move higher should continue to the 103 level at the very least, as it is the next major resistance area.
EURUSD Testing Major Support – June 2, 2014
EURUSD is currently finding support at the bottom of the rising channel on the daily time frame while stochastic is indicating deeply oversold conditions.
EURUSD Forecast May 28, 2014, Technical Analysis
The EURUSD (FXE, quote) pair fell during most of the session on Tuesday, but found the 1.36 level supportive yet again. Because of this, it appears that the market is ready to grind sideways, as this area although supportive, isn’t necessarily a major support area.
AUDUSD Forecast May 28, 2014, Technical Analysis
The AUDUSD (FXA, quote) pair went back and forth during the session on Tuesday, bouncing off of the 0.9250 level yet again. This is an area that has been extraordinarily supportive, and as a result it doesn’t surprise us that we continue to hang about.
EURUSD Weighted Down By ECB
After two days of European Central Bank (ECB) President Mario Draghi comments the EURUSD remains weighted down.
EURUSD Forecast May 22, 2014, Technical Analysis
The EURUSD pair fell during the bulk of the session on Wednesday, with that, we feel that the market forming the hammer at this point suggests that the 1.37 level will certainly continue to offer support, and as a result we feel that we could very well break higher.
EURUSD Forecast May 22, 2014, Technical Analysis
The EURUSD pair fell during the bulk of the session on Wednesday, with that, we feel that the market forming the hammer at this point suggests that the 1.37 level will certainly continue to offer support,
USDJPY Forecast May 22, 2014, Technical Analysis
The USDJPY pair initially fell hard during the session on Wednesday, dipping below the significant 101 level. That level has been rather supportive over the last several weeks and as a result we were a bit surprised to see that level broken through.
EURUSD Daily Analysis – May 21, 2014
EURUSD’s downward movement from 1.3993 had completed at 1.3648 already, and the pair is now in uptrend.