EURUSD Forecast October 6, 2015, Technical Analysis
The EURUSD pair initially tried to rally during the day on Monday, but found far too much in the way of resistance near the 1.13 level.
The EURUSD pair initially tried to rally during the day on Monday, but found far too much in the way of resistance near the 1.13 level.
USDJPY has been making higher lows and lower highs, creating a symmetrical triangle on its 1-hour time frame. Price just bounced off the triangle resistance and is currently testing support, still awaiting a bounce or a breakdown.
The GBPUSD pair shot higher during the course of the session on Wednesday, crashing into the 1.55 handle.
The EURUSD pair initially fell during the day on Wednesday, but found enough support near the 1.12 level to turn things back around and form a nice-looking hammer.
The AUDUSD pair broke higher during the course of the day on Wednesday, clearing the top of the hammer that had formed on Tuesday.
The GBPUSD pair fell significantly during the session on Monday, but turned back around to form a large hammer. With this, it looks like we are trying to break out to the upside but there is a significant amount of resistance at the 1.55 handle.
AUDUSD stays below the downward trend line on daily chart, and remains in downtrend from 0.8162.
EURUSD remains in downtrend from 1.1713, the bounce from 1.1087 is likely correction of the downtrend.
The AUDUSD pair fell during the course of the day on Wednesday, as the area above the 0.70 level continues offer resistance.
USDCAD has been moving sideways for quite some time, but the pair seems to have formed lower highs on the 1-hour time frame.