AUDUSD Forecast November 3, 2016, Technical Analysis
The Australian dollar initially fell during the day on Wednesday, but turned around to form a relatively supportive looking candle.
The Australian dollar initially fell during the day on Wednesday, but turned around to form a relatively supportive looking candle.
The Australian dollar initially tried to rally on Monday but turned right back around and sold off all of the gains.
GBPUSD stayed in the trading range between 1.1946 and 1.2477 for several days.
EURUSD’s downward movement from 1.1279 extended to as low as 1.0859.
The USDJPY pair initially rallied during the course of the session on Friday, but turned around to form a bit of a shooting star.
AUDUSD moved sideways in a range between 0.7441 and 0.7755.
EURUSD recently broke below its descending triangle support at 1.1130 and has dipped to a low of 1.0988 before showing signs of a pullback. Applying the Fib tool on the latest swing high and low shows that the 61.8% Fibonacci retracement level lines up with the broken support, which might now hold as resistance.
The AUDUSD pair broke higher during the course of the session on Monday, but gave back more than half of the gains from the early part of the session.
The EURUSD pair fell slightly during the course of the session on Monday, and as a result I feel that there is more than enough support below to eventually find buyers, and I believe that the 1.1150 level below is massively supportive.
The AUDUSD pair initially fell during the course of the session on Monday, but then turned around to form a very positive candle.