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Tag: intraday

Forex Major Currencies Outlook (Jan 26, 2016)
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USD The US dollar regained ground in recent sessions when risk-off flows dominated price action. There have been no reports out of the US yesterday but the slump in oil prices was enough to send traders scurrying back to the safe-havens. The US flash services PMI, CB consumer confidence index, and Richmond manufacturing index are…
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USDCAD Trend Line Pullback (Jan 22, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USDCAD3
USDCAD has been trending higher on its long-term time frames, with the recent selloff offering an opportunity to catch the uptrend. On the 4-hour time frame, an ascending trend line can be drawn to connect the recent lows of price action. Using the Fib tool on the latest swing low and high on the 4-hour…
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GBPJPY Retracement Setup (Jan 21, 2016)
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GBPJPY1
GBPJPY has been trending lower recently, moving below a descending trend line connecting the recent highs of price action. Price just broke below an area of interest at 166.50 then dipped to a low of 164.00 before pulling back. Using the Fib tool on the latest swing high and low shows that the 50% level…
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GBPAUD Breakdown and Pullback (Jan 20, 2016)
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GBPAUD5
GBPAUD had previously been consolidating inside a symmetrical triangle pattern on its 1-hour time frame before breaking lower. Price had dipped close to the 2.0400 major psychological support before showing signs of a retracement. Using the Fib tool on the latest swing high and low shows that the 50-61.8% levels line up with the broken…
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GBPAUD Symmetrical Triangle (Jan 19, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
GBPAUD3
GBPAUD has been forming lower highs and higher lows, creating a symmetrical triangle pattern on its 1-hour forex time frame. Top-tier events from the UK economy this week could determine which direction this pair might break out. As for technical indicators, the 100 SMA is still below the 200 SMA for now so the path…
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AUDUSD Daily Range Support  (Jan 13, 2016)
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160113_audusd 800
AUDUSD is currently bouncing off the bottom of its long-term range visible on the daily time frame, partly supported by the pickup in risk sentiment and stronger than expected data in China. The pair has found support at the .6950 minor psychological level and climbed back above .7000, possibly setting its sights on the top…
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EURUSD Short-Term Selloff Signal (Jan 12, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
160112_eurusd 800
EURUSD has been able to weather the market selloff pretty well in the past week, holding steady just above the 1.0850 minor psychological level even while other dollar pairs are plummeting. However, a short-term drop might be in the cards as a double top can be seen on the 1-hour time frame. The pair has…
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Forex Major Currencies Outlook (Jan 11, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USD The US dollar raked in some gains after seeing upbeat jobs data but was still in a weak spot against the European currencies and the Japanese yen. The economy added 292K jobs in December, higher than the projected 203K increase, while previous upward revisions added 50K in hiring gains. Average hourly earnings were flat,…
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NZDUSD Long-Term Reversal Signal (Jan 11, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
160111_nzdusd 2
NZDUSD has formed a double top pattern visible on its daily time frame, hinting that a longer-term selloff is in the cards. The chart pattern is approximately 400 pips in height so the pair could be in for the same amount in losses. Price has yet to break below the neckline of the formation around…
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USDCAD Retracement Setup (Jan 8, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USDCAD1
USDCAD has been breaking past one high after another in the past few days, as risk aversion and falling oil prices have weighed on the Canadian dollar. It seems that the pair has topped at around 1.4170 and may be ready for a pullback to an area of interest. Applying the Fib tool on the…
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EURUSD Retracement Setup (Jan 7, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
EURUSD1
EURUSD has been trending lower on the short-term time frames, with a potential retracement opportunity presenting itself on the 4-hour chart. Price previously broke below support around 1.0850-1.0900 before dipping close to the 1.0700 handle then pulling back. Using the Fibonacci retracement tool on the latest swing high and low shows that the 50-61.8% levels…
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GBPAUD Descending Channel (Jan 6, 2016)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
GBPAUD1
GBPAUD has been trending lower on its 4-hour time frame, moving inside a descending channel connecting the latest highs and lows of price action. Price just bounced off the bottom of the range and is now making its way to the top, which might continue to hold as resistance. For now, though, the 100 SMA…
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USDJPY Range Breakdown (Dec 10, 2015)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
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 (Nov 25, 2015)
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USD The US dollar functioned mostly as a counter currency in recent trading sessions, ending up with a mixed performance against its forex peers. Data from the US economy came in weaker than expected, as the CB consumer confidence index slumped from 99.1 to 90.4 in November and the Richmond manufacturing index indicated a drop…
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Forex Major Currencies Outlook (Nov 24, 2015)
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USD The US dollar still managed to dominate against its forex peers even with weaker than expected economic data. The flash manufacturing PMI for November showed a decline from 54.1 to 52.6, reflecting a slower pace of growth. Existing home sales fell from 5.55 million in September to 5.36 million in October. For today, the…
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Forex Major Currencies Outlook (Nov 23, 2015)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USD The US dollar rebounded against its forex rivals on Friday, recovering back to its weekly highs against most of its counterparts. There were no major reports out of the US then but FOMC members Dudley and Williams reaffirmed the idea of a December Fed rate hike. The Fed has an unscheduled announcement later today…
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Forex Major Currencies Outlook (Nov 20, 2015)
Profile photo of Kate Curtis - Forex.Today by Kate Curtis - Forex.Today
USD The US dollar continued to give up ground to its peers even though the FOMC minutes pretty much sealed the deal for a December liftoff. Profit-taking appears to be in play, as most of these rate hike expectations have been priced in for quite some time. Data from the US economy was actually better…
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