Daily Technical Analysis

GBP/USD Daily Forecast - 17 July

The 1.33 level above is massive resistance, and I think if we can break above that level we will continue to go higher, perhaps reaching towards 1.3350 level above, where we had seen a significant amount of selling pressure. I…

AUD/USD Daily Forecast - 17 July

The Australian dollar has rallied a bit during the day on Monday, showing signs of life again, but quite frankly I think there is a lot of resistance above. This is seen at the gap near the 0.7450 level, where I…

EUR/USD Daily Forecast - 10 July

EUR/USD gave up the pre-North America games falling below the 21-hr SMA at 1.760, where previously, EUR/USD has made a London session high of 1.1790. The single unit has scored a session low of 1.1740. From a technical perspective, EUR/USD…

GBP/USD Daily Forecast - 10 July

The GBP/USD pair fluctuated wildly on Monday as investors continued to react to political developments in the U.K. After advancing to its highest level since June 14 at 1.3360, the pair came under a heavy selling pressure after British PM…

AUD/USD Daily Forecast - 10 July

AUD/USD found some resistance a little above 0.7476 May 30 low near the 50-period simple moving avearge on the daily chart. The last AUD/USD 120-pip bull run was lead by some strength in gold (AUD is positively correlated to it)…

EUR/USD Daily Forecast - 6 July

EUR/USD had virtually no reaction following the release of the FOMC meeting minutes. EUR/USD has retraced 61.8% from daily low to high suggesting that some investors who missed the bull breakout in early Europe might be buying near those levels.

GBP/USD Daily Forecast - 6 July

The GBPUSD is steady at 1.3222 but has given up all the gains from earlier in the day and remains nearer the day lows. Technically, the fall did find support against a swing area in the 1.3203-16 area (see earlier…

AUD/USD Daily Forecast - 6 July

Following its another bounce off the 0.7360-55 horizontal-support, the AUDUSD again confronts a month-old descending trend-line, around 0.7395-0.7400, which if broken could trigger the pair’s recovery towards the 0.7420 and the 0.7445-50 resistances.

EUR/USD Daily Forecast - 5 July

Looking at a daily chart, EUR/USD continues consolidating in a familiar range since last month’s ECB monetary policy announcement. It is confined by resistance which is around 1.1718 (November/December 2017 lows) and support at 1.1507 which is also the 38.2%…

GBP/USD Daily Forecast - 5 July

GBP/USD is trading near its daily highs above the 1.3200 level. GBP/USD is trading in a small range as Independence Day in the US see limited volumes in the forex market. As a result, GBP/USD is unlikely to have a…

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