Autochartist Forecast
The AUD/JPY, popular for its carry-trade status, is trending lower today as investors sell Australian Dollars and buy Japanese Yen. A carry-trade is a strategy typically used by traders to capitalize
0 comments The negativity within the EUR/USD has yet to take a break, forcing many traders to look towards strategies that present entry opportunities amidst such a strong downtrend. The Autochartist Retracemen
0 comments The USD/CAD has transitioned to a sideways market cycle after price action was rejected at the intraday double top between 1.0438 (R1) and 1.0430 (R2). This allowed the bears to shift intraday market
0 comments The GBP/USD’s daily chart has reached what could be a double bottom. With today’s test of the 1.4496 level, prices are once again trading near the May 7 low of 1.4476. These two levels might indi
2 comment The AUD/JPY is poised to test 83.00 once again following buyers being rejected at the resistance waiting between 84.75 (R1) and 84.50 (R2). The weakness of the AUD/JPY reflects the weakening of the A
0 comments The promise of a U.K. deficit reduction is one thing for sterling. But, politics is another. As David Cameron settles in Number Ten Downing Street it is clear the Conservatives will be able to deliver their plan for cutting public spending by GBP6 billion in the next year.
1 comment Many traders watch both the Gold market and the AUD/USD at the same, looking for correlations. This is because the AUD/USD is a "commodity currency," meaning that it tracks with certain commodity fut
0 comments When we follow up on the May 11 Daily Forex Update (specifically for the Three Point Extension Fibonacci pattern on the USD/CHF’s 30-minute chart), we see that the Triangle that has formed on the 6
0 comments All the European Union has done is postpone the inevitable. "Shock and awe" may well be the buzzwords associated with the EUR750 billion surprise package aimed at propping up the single currency.
0 comments The strong uptrend on the 30-minute USD/CHF chart formed a Three Point Extension thanks to the fact that prices exhausted at the D point, at 1.1120. As long as the high at the D point is not broken t
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