Forex Technical Analysis
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Forex Technical Analysis
The EUR/USD pair shot higher during the session on Monday, testing the 1.13 level during the day. That being the case, the market looks very bullish all of a sudden, because the candle is so strong.
The USD/JPY pair fell pretty significantly during the Monday session, slicing back below the 125 handle. I have to admit I was a bit surprised at how deep the pullback went, but ultimately we are still well within the tolerance of the consolidation area.
The CAD/CHF pair is one that you probably don’t trade very often, but shouldn’t be afraid of doing so. After all, the Canadian dollar in the Swiss franc are both major currencies, and as a result they do tend to move fairly well in relation to the rest of the Forex markets.
The GBP/USD pair initially fell during the day on Monday, but as it approached the 1.52 level, we bounce significantly to head towards the 1.5350 level. With that being the case, the market looks like it is ready to continue to go higher as we closed out the day towards the top of the range.
The TRY/JPY pair is one of my favorite pairs to trade because of the large swap offered for going long. Ultimately, this is a market that a lot of “carry traders” prefer as there is plenty of money to be made while waiting for a move higher.
According to the analyzes of the USD/JPYand AUD/USD, trader profited using a binary options platform. Find out how here for June 8, 2015.
Check out the AUD/USD Forex signal for June 8, 2015 here.
Check out the USD/JPY Forex signal for June 8, 2015 here.
Check out the GBP/USD Forex signal for June 8, 2015 here.
Get the EUR/USD Forex signal for June 8, 2015 here.
Gold prices slipped for a third straight session on Friday as a solid U.S. payroll reading, coupled with strong growth in wages, eased concerns about the health of the world's biggest economy and revived flagging views that the Federal Reserve might consider raising interest rates as early as September.
The EUR/USD pair fell during the Friday session in reaction to a better than anticipated jobs number coming out of the United States. This of course has people thinking that perhaps the Federal Reserve will have to raise interest rates sooner rather than later.
For my money, this is probably one of the most interesting Forex pairs out there right now. After all, the 125 level is a major psychological resistance barrier, and the fact that we have broken up above it seems like a signal that the longer-term trend is going to continue to be to the upside.
Get the Forex forecast for some of the major currency pairs for the week of June 8, 2015 here.
Get the weekly Forex forecast using quant vs chart reading for the week of June 7, 2015 here.