Forecasts & Analysis | Forex, Page 2

Since the NZD/USD is trading inside yesterday’s range, which tends to indicate investor indecision and impending volatility, the direction of the Forex pair the rest of the session is likely to be determined by trader reaction to yesterday’s high at .6411 and yesterday’s low at .6362. Additionally, this chart pattern

Based on the early price action, the direction of the September U.S. Dollar Index on Friday is likely to be determined by trader reaction to the Fib level at 98.030.

The US dollar fell a bit during the trading session initially on Thursday but then turned around to rally and reach towards the resistance above. With central bankers meeting at Jackson Hole over the next couple of days, it makes sense that the market might be a bit tentative.

The British pound took off to the upside during the trading session on Thursday as we pierced the 1.2250 level early in North American trading as Boris Johnson speaks in France. Ultimately, this is probably much to do about nothing.

The British pound initially fell during the trading session on Thursday, but then turned around to rally towards the ¥130 level. At this point, the ¥130 level should be resistive, but not impossible to break through.

The Euro went back and forth during trading on Thursday again as we continue to find the 1.11 EUR level as a bit of a ceiling, but also have significant support just below. Ultimately, the market is waiting with bated breath to whatever happens and comes out of Jackson Hole.

The Australian dollar has gone back and forth over the last several sessions, and of course Thursday was never going to be any different. We continue to consolidate just below the 0.68 level which of course is major.

Based on today’s wide range and current price at 1.1085, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112 and the uptrending Gann angle at 1.1066.

GBP/USD has fallen into a range, although this range is narrowing and a breakout appears to be imminent.

Dear Traders,The USD/SGD has formed a bullish reversal candle (hammer) at the POC zone and we should see a bullish continuation.The market is currently supported at the Wizz lvl 7  and the price is bouncing up. If we see a bullish close above 1.3870, the price should hit 1.3897, 1.3942

Despite the Fed meeting minutes yesterday and positive Euro data today, EUR/USD continues to trade within a range that started a week ago.

It’s often like this prior to market-moving events. Prices keep trading in a narrow consolidation, dropping subtle clues here and there. The context remains though, and coupled with the preceding price action, it allows to us to see the market tipping its hand. So, how have we prepared for what’s

The published minutes of the Federal Reserve Board’s previous meeting showed a serious split in opinions on monetary policy.

US Weekly Jobless Claim data and Markit PMI data release remain at the center stage for Thursday. On the Canadian side, the June MoM Wholesale Sales data will come out at around 12:30 GMT.

Based on the early price action and the current price at .6769, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the uptrending Gann angle at .6787.

On Wednesday, the Forex pair closed higher after the release of the Fed minutes, however, it traded inside the previous session’s range, which indicates investor indecision and impending volatility.

Based on the early price action and the current price at .6383, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to yesterday’s close at .6405 The Kiwi is being dragged lower by the weakening Chinese yuan which is widely viewed

The FOMC minutes had a distinctly stale flavour to them as the logical expectation were for a more hawkish tone after the Fed massively underwhelmed on the July rate cut, maintained a positive outlook, and had two dissenters. Beyond that, there wasn’t a great deal in these minutes that was

The US dollar rallied a bit during the trading session early on Wednesday but continues to see a lot of resistance just above at the ¥107 level. At this point, it looks as if we are going to continue to see more of the same.

The British pound ran into a bit of resistance during the trading session on Tuesday but ran into the 1.22 level to roll over a bit. At this point, the question is whether or not we are trying to form some type of bottoming pattern?