Cable Continues to Remain Bearish (GBPUSD)
Cable moved lower once again last week as a resurgent US dollar continued to drive the pair, with the September futures contract closing at 1.6770 on the daily chart.
ETF
EURUSD Forecast August 8, 2014, Technical Analysis
The EURUSD pair initially fell during the day on Thursday, but as you can see found support at roughly the same place it did during the Wednesday session.
USDJPY Forecast August 8, 2014, Technical Analysis
The USDJPY pair initially tried to rally during the session on Thursday, but as you can see fell back down as we continue to bang around the 102 level.
A Double Wammy for the Aussie dollar
Yesterday’s attempt by the Aussie dollar to break out from the current congestion with a move higher, was promptly snuffed out today, as poor employment data shocked the markets, sending the currency lower against the US dollar.
EURUSD Forecast August 7, 2014, Technical Analysis
The EURUSD pair fell during the bulk of the session on Tuesday, but found enough support just above the 1.3325 level in order to bounce and form a nice-looking hammer.
AUDUSD Forecast August 7, 2014, Technical Analysis
The AUDUSD pair rose during the course of the day on Wednesday, breaking above the 0.9350 handle.
Canadian Dollar Remains Under Pressure – For The Time Being
The Canadian dollar has continued to come under heavy selling pressure once again today, driven by a resurgent US dollar, which has now broken through the key 81.30 level on the daily chart of the dollar index, to move firmly higher from this platform of support which is now in place.
Oil Futures Continue to Remain Bearish
Oil prices continue to remain heavily bearish on the daily chart following the initial failure at the $106 per barrel area in early July which was the tipping point for the commodity, with the final phase of this particular price action, clearly marked with a shooting star candle and pivot high, coupled with high volume, and confirming the weakness at this level.
GBPUSD Forecast August 5, 2014, Technical Analysis
The GBPUSD pair bounced during the session on Monday, as the 1.68 level has offered enough support to at least do that.
AUDUSD Forecast August 5, 2014, Technical Analysis
The AUDUSD pair initially fell during the day on Monday, but as you can see found enough support to turn things back around and form a hammer.