FOREX.TODAY

Tag: December

Forex Major Currencies Outlook (Dec 17, 2015)
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USD The Fed increased rates by 0.25% as expected, upgrading growth and employment forecasts for 2016 as well. Although they downgraded their PCE inflation estimates for next year, Fed head Yellen still showed confidence in US fundamentals. In terms of data, industrial production, capacity utilization, and the flash manufacturing PMI all missed expectations. The Philly…
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USDJPY Retracement Setup (Dec 17, 2015)
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USDJPY previously broke below a consolidation pattern visible on its 4-hour time frame then dipped to a low of 120.30 before showing signs of a retracement. Using the Fibonacci retracement tool on the latest swing high and low shows that the broken support lines up with the 61.8% Fib. This also coincides with the 122.50…
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Forex Major Currencies Outlook (Dec 16, 2015)
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USD The US dollar was able to bounce back against its peers when data came in mostly in line with expectations. The headline CPI stayed flat in November while the core version of the report showed a 0.2% uptick. The Empire State manufacturing index rose from -10.7 to -4.6, higher than the projected climb to…
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AUDUSD Complex Head and Shoulders (Dec 16, 2015)
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Screen Shot 2015-12-15 at 3.57.31 PM
AUDUSD might be in for a long-term reversal from its previous uptrend, as a complex head and shoulders can be seen on its 4-hour time frame. Price is currently testing the neckline near the .7150 minor psychological level, with a breakdown likely to push the pair lower by an additional 200 pips or the same…
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Forex Major Currencies Outlook (Dec 15, 2015)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USD The US dollar had a mixed performance, although it was generally weaker against most of its peers with traders lightening up on their long positions ahead of the FOMC statement later on. No reports were released from the US yesterday while today has the Empire State manufacturing index lined up. A climb from -10.7…
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GBPUSD Rising Wedge Pattern (Dec 15, 2015)
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Screen Shot 2015-12-14 at 10.40.46 AM
GBPUSD has been slowly trending higher, moving inside a rising wedge pattern visible on its 4-hour time frame. Price is currently testing the wedge support and might be due for a bounce back to the top. Stochastic and RSI are both moving out of the oversold region, indicating a return in buying pressure. This could…
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Forex Major Currencies Outlook (Dec 11. 2015)
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USD Data from the US economy came in mixed today, as the initial jobless claims report posted a downside surprise of 282K in claimants while import prices indicated a smaller than expected 0.4% drop versus the projected 0.8% decline. For today, the retail sales report is up for release and the headline figure is slated…
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AUDUSD Broken Trend Line Retest (Dec 11. 2015)
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AUDUSD1
AUDUSD recently made a strong downside break from its ascending trend line connecting the recent lows on the 4-hour time frame. This suggests that a reversal is in order, after price completes its pullback to the broken support. The broken trend line coincides with the 61.8% Fibonacci retracement level on the latest swing high and…
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Forex Major Currencies Outlook (Dec 10, 2015)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USD The US dollar had a mixed performance, as it gave up ground to the yen, euro, pound and Kiwi but managed to stay strong against its other rivals. There have been no major reports out of the US, leaving risk sentiment as one of the major drivers of price action. Today has the initial…
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USDJPY Range Breakdown (Dec 10, 2015)
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USDJPY1
After being stuck inside a range for quite some time, USDJPY finally picked a direction and broke to the downside. This suggests that further losses might be in the cards for this pair. The range is approximately 100 pips in height so the resulting breakdown could be of the same size, possibly taking the pair…
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Forex Major Currencies Outlook (Dec 9, 2015)
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USD The US dollar was slightly weaker on the day, possibly due to the JOLTS job openings decline. The figure dropped from 5.53M to 5.38M instead of improving to the projected 5.59M reading. US crude oil inventories data is due today, but this could have a stronger impact on the Canadian dollar than the Greenback.…
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EURGBP Long-Term Range (Dec 9, 2015)
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EURGBP1
EURGBP recently made a strong bounce off the bottom of its long-term range at the .7000 major psychological level and appears to have enough momentum to make it back to the top. If resistance at the .7400 handle holds, price could head back down to the range support. At the moment, EURGPB is still at…
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NZDUSD Resistance Turned Support (Dec 8, 2015)
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NZDUSD1
NZDUSD has recently broken past a key resistance level at the .6600 major psychological mark then zoomed up close to the .6800 handle before showing signs of a pullback. Using the Fib tool on the latest swing high and low shows that the 61.8% retracement level lines up with the area of interest. Stochastic and…
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Forex Major Currencies Outlook (Dec 8, 2015)
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USD The US dollar was able to recover at the start of the week, thanks to the downturn in commodity prices and the return in risk aversion. There were no major reports out of the US economy, as it seems that market participants are just bracing themselves for a rate hike next week. EUR The…
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Forex Major Currencies Outlook (Dec 7, 2015)
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USD The US dollar managed to make a quick rebound on Friday, thanks to upbeat jobs data. The US economy added 211K jobs in November, higher than the projected 201K gain. Meanwhile, the previous report enjoyed an upgrade from 271K to 298K and the unemployment rate held steady at 5.0%. Average hourly earnings rose 0.2%…
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EURAUD Downtrend Setup (Dec 7, 2015)
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Screen Shot 2015-12-06 at 6
EURAUD has been in a steady downtrend on its longer-term time frames, with a descending trend line connecting the latest highs of price action. Price made a sharp pop higher after last week's ECB rate statement but it looks like the falling resistance area is still holding. This trend line coincides with the dynamic resistance…
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Forex Major Currencies Outlook (Dec 4, 2015)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USD The US dollar had a late rally during the New York trading session as Fed Chairperson Yellen reiterated her hawkish bias. Data from the US economy fell below expectations, as the ISM non-manufacturing PMI dropped from 59.1 to 55.9 instead of just dipping to 58.1. Still, analysts are expecting to see an upbeat NFP…
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