AUDUSD Forecast September 26, 2014, Technical Analysis
The AUDUSD pair fell during the course of the day on Thursday, breaking below the 0.88 support level.
The AUDUSD pair fell during the course of the day on Thursday, breaking below the 0.88 support level.
Brent crude oil (BNO, quote) remained below $97 on Thursday as the growing supply glut continued to outweigh concerns about the conflict in the Middle East.
AUDUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 0.9401, the rise from 0.8831 is likely consolidation of the downtrend.
EURUSD continued its downward movement from 1.3411 and the fall extended to as low as 1.27734.
The GBPUSD pair fell during the course of the day on Wednesday, but as you can see remains above the support of 1.63 level.
September’s been an interesting month of price action for oil traders, as the WTI contract (USO, quote) continues to bounce around, driven back and forth by a variety of forces as it continues to consolidate in a narrow range.
As always, whenever there is a market correction, and for whatever reason, the bears take heart, emerging from the undergrowth to call the top of the market once more!
EURUSD failed to break above the downward trend line on 4-hour chart, indicating that the pair remains in downtrend from 1.3411.
AUDUSD remains in downtrend from 0.9401, and the fall extended to as low as 0.8831.
EURUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3411, the rise from 1.2834 could be treated as consolidation of the downtrend.