Forex

Posts Tagged ‘pullback’

The euro is relatively quiet since yesterday, trading in a narrow range of 70 points, but holding gains above 1.2800. Upside is slightly favored and a pullback may provide a buying opportunity if former resistance at 1.2750 provides support. Sentiment is currently mixed and a break above 1.2900 should be

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• $ Reversal Finally Just Ahead? (0)
• EUR/USD Pullback Rejected at 1.2950; Swing Eyes 1.27 (0)

The euro recovered some losses, breaking above the 1.2750 resistance region, following the risk pairs which rallied yesterday. Euro's recovery was also favored by EURCHF which switched direction, recovering from the record low at 1.2850 as a result of gold's pullback from recent high at 1254.50. Current break above

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• The Daily Forecaster: GBPUSD (0)
• Daily Technical Outlook (0)

The bullish structure developed well with a pullback from the top of the 1.0610-30 area that provoked the correction back to just above the 1.0560-70 support. This provided the base for a test to the 1.0672 high. I remain bullish but feel we require a correction before the rally can

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• Market Morning Briefing (0)
• The Daily Forecaster: EURJPY (0)

The daily chart shows the market finishing a pullback that followed the break below a "naked" head and shoulder. It was naked because it was not confirmed and can actually be a continuation pattern, especially with the RSI staying above 40 since mid-June. An RSI reading that stays above 40

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• GBP/JPY Bullish Attempt Closing in on Resistance (0)
• Foreign Exchange Market Commentary (0)

The USD/JPY has been in correction mode over the Asian and European session so far. This comes after a break below the 85 support area. The price action is pressing against the 50-period moving average and the 61.8% retracement level at 84.65. The market should not break above 85 (78.6%

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• Currency Crosses Pairs Analysis (0)
• EUR/USD – Negative Reversal Signals Bearish Swing (0)

Losses were seen as expected but extended a little lower than expected to the 1.5372 support. The pullback has done the minimum required to provide a complete correction but I'm not 100% convinced that we won't see a second rally to the 1.5495-15 area. From there or a direct

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• NZD/USD: Slide Continues After Breakout (0)
• The Daily Forecaster: USDJPY (0)

The EURUSD continued its bearish pressure yesterday and seems convincingly move below 1.2700 area. This fact could trigger further bearish pressure testing 1.2523 1.2470 region as the 'head and shoulders' bearish reversal scenario is now confirmed. Another upside pullback above 1.2700 will lead us to neutral zone as direction

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• AUD/USD Targeting .9335 (0)
• Daily Technical Analysis (0)

From there we have seen losses and I feel the structure is now quite bearish and could indeed accelerate. We should now see any pullback remain below 0.8910-20 and see losses extend below 0.8874 to 0.8823-36 at least but I tend to prefer a more bearish scenario that would imply

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• AUDUSD: Bear Threats In Progress (0)
• The Daily Forecaster: EURJPY (0)

The EUR/USD continues to hold support, but is struggling to push to new highs after trading within the narrow range from 1.2932 to 1.2733 for the fifth straight session. The stall on the daily chart came directly after a strong pullback on August 11, and the bulls have yet to

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• Daily Technical Outlook (0)
• Daily Technical Outlook (0)

The GBP/JPY tested the rising support that can be seen in the daily chart below. The daily chart, and the last GBP/JPY update also suggested a rally from here for wave E to complete a consolidation pattern. The 4H chart shows a reversal candlestick combination right at this rising support.

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• Currency Crosses Pairs Analysis (0)
• The Daily Forecaster: USDCAD (0)