EURUSD Forecast September 2, 2016, Technical Analysis
The EURUSD pair initially fell during the course of the day on Thursday, but turn right back around to form a very bullish candle.
The EURUSD pair initially fell during the course of the day on Thursday, but turn right back around to form a very bullish candle.
The AUDUSD pair rose slightly during the course of the day on Thursday, breaking above the top of the candle from the Wednesday session.
The U.S. economy only created new 151,000 jobs during the August vs. 180,000 jobs expected.
The pound took a pounding in the lead up to and aftermath of the June 23 EU referendum. But in recent weeks, it has staged a remarkable recovery, even though the Bank of England has decided to cut interest rates to near zero and restarted QE.
GBPUSD remains in downtrend from 1.3278. The rise from 1.3059 is likely correction of the downtrend.
EURUSD continued its downward movement from 1.1366 and the fall extended to as low as 1.1123.
Over the past week and a half, crude oil prices have been on a rollercoaster ride. Within the large ranges, the force of gravity has generally worked against bullish speculators after the 3-week rally ended in mid-August when Brent hit $51 and WTI reached $49 a barrel again.
The USDJPY pair broke higher during the course of the session on Tuesday, breaking above the top of the shooting star from the Monday session. Because of this, I believe that the market is going to continue going higher, as the Bank of Japan has worked against the value of the Yen and of course the Federal Reserve looks much more likely to potentially raise interest rates in the fairly
AUDUSD continued its downward movement from 0.7755, and the fall extended to as low as 0.7500.
EURUSD’s downward movement from 1.1366 extended to as low as 1.1132.