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Published on Sep 8, 2016
The
Euro climbed initially during the US dollar during the Thursday
session, but after the press conference by the European Central Bank,
the Euro sold off. This is mainly because it looks like the loose
monetary policy coming out of the ECB is going to continue, and
therefore it is showing a very dovish stance until at least March 2017.
This has put a lot of pressure on the Euro in general, and it makes
sense that we formed a massive shooting star. Because of the shooting
star, I now feel that the sellers are back in control of this pair, and
we should continue to go lower. I believe short-term rallies will end up
being selling opportunities as well, on initial signs of exhaustion.
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USD/JPY and AUD/USD Forecast
USD/JPY and AUD/USD Forecast
Published on Sep 8, 2016
The
USD/JPY pair initially fell during the day on Thursday, but turned gray
background form a fairly positive candle. As the US dollar continues to
climb, I believe that eventually we will break out and reach towards
the 104 level yet again. I think that the real barrier extends all the
way from there to the 105 level, so I do expect a fight. However, I also
believe that this market has a hard bottom in it, supplied by the Bank
of Japan of the psychologically significant 100 level. Every time this
market pulls back, I’m starting to think about buying a small position
and just simply adding to what I already have going on. Once we break
above the 105 level, I’m targeting the 107 level after that.
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