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Published on Sep 25, 2016
The
Euro initially fell during the day on Friday, but turned around to form
a slightly positive candle. By doing so, looks as if we are trying to
break the resistance that we’ve seen recently in the region of 1.1250 or
so. If we can get above there, we could reach towards the 1.1350 level,
but it would take quite a bit of momentum to get to that point. I think
once we do, and then will have to ask are questions, but at this point
in time I suspect that there is probably going to be an exhaustive
candle given enough time, and that we will more than likely end up
selling. After all, even though we have shown some positivity over the
last couple of days, you can almost make an argument for a bit of a
descending triangle this point. Ironically, this market seems to be
mimicking the WTI Crude Oil market.
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USD/JPY and AUD/USD Forecast September 26, 2017
Published on Sep 25, 2016
The
USD/JPY pair rallied a bit during the day on Friday, but we continue to
meander right around the 101 level. I believe that there is a massive
amount of support below though, so it’s only a matter of time before the
buyers get involved. I also recognize the 100 level as the “line in the
sand” that the Bank of Japan has placed in this market. Because of
this, it will be very difficult to start shorting at these low levels.
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