AUDUSD Daily Analysis – August 4, 2014
AUDUSD remains in downtrend from 0.9470, the rise from 0.9275 is likely consolidation of the downtrend.
ETF
EURUSD Forecast August 1, 2014, Technical Analysis
The EURUSD pair fell during the course of the day on Thursday, but as you can see found enough support below in order to bounce and form a little bit of a hammer.
Bearish sentiment for gold accelerates with volume leading the way
The last few days have seen some clear and unequivocal signals from the gold futures chart, that the precious metal is on the way lower, something I have been suggesting for several weeks.
USDJPY Bullish Pennant (August 1, 2014)
USDJPY has recently made a strong upside breakout from the descending triangle on a longer-term time frame. From there, price has made a strong rally past 102.00 then formed a bullish flag pattern, indicating that there could be buying pressure left.
AUDUSD Triangle Breakout (July 31, 2014)
AUDUSD had been trading inside an ascending triangle chart pattern for quite some time before breaking to the downside and indicating that further losses could be in the cards.
EURUSD Forecast July 31, 2014, Technical Analysis
EURUSD pair did fall during the course of the day on Wednesday, but bounce significantly in order to form a bit of a hammer.
Bearish tone continues for the Canadian dollar (USDCAD)
Following on from my recent posts about the bearish nature of the USDCAD and the medium term prospects for the Loonie, today’s advance GDP release has helped to drive the Canadian lower once again, accelerating its downwards progress and adding to yesterday’s wide spread down candle.
EURUSD Forecast July 30, 2014, Technical Analysis
The EURUSD pair initially tried to rally during the day on Tuesday, but the Euro continued to struggle during the session, and slammed into the 1.34 handle.
AUDUSD Forecast July 30, 2014, Technical Analysis
The AUDUSD pair fell during the day on Tuesday, breaking the back of the hammer that informed on Monday.
Brent Steady Near $107 Amid Global Supply Glut
Brent crude oil (BNO, quote) was steady above $107 as investors kept an eye on global instabilities, but relaxed their worries about a supply interruptions as the market appears to have a glut of crude.