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Published on Sep 3, 2016
The
EUR/USD pair broke higher during the course of the day on Friday,
clearing the 1.12 level at one point. However, we turn right back around
to form a very bearish looking candle after the jobs number, and as a
result I think that we are going to continue to see selling pressure
again and again. Because of this, the market could very well break down
from here, and reach down to the 1.11 level, and of course the 1.10
level below. On the other hand, if we can break above the top of the
candle that could be a very bullish sign. However, the one thing that I
think that will be the common factor in this market is that we are going
to chop back and forth and cause quite a few headaches for traders
around the world.
USD/JPY and AUD/USD Forecast
Published on Sep 3, 2016
The
USD/JPY pair initially tried to rally during the course of the session
but turn right back around to form a positive candle. In fact, we even
broke above the top of the shooting star from the previous session, so
having said that it’s likely that we will continue to go higher. The 105
level will more than likely offer quite a bit of resistance, and as a
result I think that it is going to be difficult to get above that level,
at least in the short-term. However, I think pullbacks will have buying
opportunities present themselves on short-term charts that show signs
of support. Once we do get above the 105 level, we should then reach
towards the 107 handle above.
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