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Published on Sep 19, 2016
The
EUR/USD pair initially broke higher during the course of the session on
Monday, but gave back quite a bit of the gains in order to form a
likely shooting star. With this being the case, it appears that we are
trying to break down but I would be very quick to point out the fact
that there is a significant amount of support near the 1.1150 level. I
think if we can break below the 1.11 level, it might be an event that
could get the sellers involved. This of course should send this market
down towards the 1.10 level where I would anticipate even more support.
With this being the case, I am a seller on not only the breakdown, but
also short-term rallies that show signs of exhaustion as we had happened
during the session on Monday.
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USD/JPY and AUD/USD Forecast September 20, 2016
Published on Sep 19, 2016
The
US dollar fell during the course of the session on Monday, testing the
101.50 level. There is a lot of consolidative pressure in this market,
so having said that I believe that we’re going to see quite a bit of
choppiness. If we break down below the 101.50 level, I believe that
there is a massive amount of support at the 100 level. This is what I
believe is essentially the “line in the sand” when it comes to the Bank
of Japan, as they are starting to lose there sends the humor when it
comes to the value of the Japanese yen at the moment. With this being
the case, sooner or later we should get some type of supportive candle
or an impulsive candle to the upside that we can buy. In the meantime, I
think that buying short-term pullbacks and show signs of support might
be the way to go going forward.
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