EURUSD Daily Analysis – June 4, 2014
EURUSD moved sideways in a narrow range between 1.3586 and 1.3668.
Currencies
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.
China accelerates as euro zone stumbles
Signs of an economic revival in China have raised hopes that Beijing’s targeted measures to bolster growth are having an impact but a slowdown in the euro zone will increase expectations of policy easing there.
USDJPY Forecast June 3, 2014, Technical Analysis
The USDJPY pair broke out to the upside during the session on Monday, essentially cracking the top of a couple of hammers from last week. We are testing the 102.50 level at the moment, and thereby we think we are getting ready to head to the 103 handle.
AUDUSD Daily Analysis – June 2, 2014
AUDUSD’s bounce from 0.9208 extended to as high as 0.9329, the subsequent fall indicate that the bounce had completed,
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 29, 2014, get technical Analysis
The EURUSD pair fell during the session on Wednesday, breaking below the 1.36 level towards the end of the day.
USDJPY Forecast May 29, 2014, Technical Analysis
The USDJPY pair initially fell during the session on Wednesday, but as we have seen for the past couple of days, buyer stepped in and push the market back up.
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.
Moving away from the majors – check out the Canadian dollar
With end of month approaching and national holidays across most of Europe tomorrow (Ascension Day), this may a good time to look at alternative currencies which are reaching extreme overbought