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Published on Sep 7, 2016
The
EUR/USD pair initially tried to rally during the course of the session
on Wednesday, but turn right back around to form a shooting star. The
shooting star of course is a negative sign, and a break down below the
bottom of it will send this market lower. You should also be aware the
fact that the ECB has an interest rate announcement coming out today,
and that of course could be reason enough to move the market around
drastically as well. We can break above the top of the shooting star and
start buying, but that would be very bullish sign. Ultimately, at the
end of the day we should have a little bit more clarity when it comes to
the idea of the next longer-term move.
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USD/JPY and NZD/USD Forecast September 8, 2016
Published on Sep 7, 2016
The
US dollar initially fell during the course of the day on Wednesday, but
turn right back around at the 101 handle. By doing so and bouncing, we
ended up forming a bit of a hammer. The hammer of course is a bullish
sign and I believe that a break above the top of the hammer would be
reason enough to start going long. I think the market could then reach
towards the 103.50 level, and then possibly the 105 level above there.
If we can break above there, then the market reaches towards the 107.50
level. At this point, looks as if the pair is trying to find a bit of a
turnaround when it comes to the longer-term trend, and I believe that
the 100 level is still essentially the “line in the sand” when it comes
to the Bank of Japan.
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