The USD/JPY pair broke higher during the session again on Thursday, as we regained all the area that we pulled back from during the rally on Wednesday.
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Looking at the EUR/CAD pair, you can see that we tried to rally during the course of the session on Thursday, but struggled at the 1.45 level which of course is a large, round, psychologically significant number.
Looking at the WTI Crude Oil market, you can see that we went back and forth during the course of the session on Thursday. This was preceded by a massively bullish candle on Wednesday, and a hammer on Tuesday.
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Gold prices hit their lowest level since October 9 yesterday as investors continued to price in the increasing likelihood of a rate rise from the Federal Reserve as early as December.
Get the NZD/USD Forex signal for October 29, 2015 here.
Get the AUD/USD Forex signal for October 29, 2015 here.
Get the USD/JPY Forex signal for October 29, 2015 here.
Get the USD/CAD Forex signal for October 29 2015 here.
Get the Forex signal for the GBP/USD pair for October 29, 2015 here.
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Get the USD/CHF Forex signal for October 29 2015 here.
Get the EUR/USD Forex signal for October 29, 2015 here.
The EUR/USD pair fell significantly during the session on Wednesday as the markets reacted to the FOMC statement. However, I believe that breaking below this trend line is just the beginning of what the market is trying to do.
The USD/CAD pair fell rather drastically during the course of the session on Wednesday, as the oil markets skyrocketed.
The NZD/USD pair fell significantly on Wednesday but found enough support near the 0.66 level to bounce and form a nice-looking hammer. The hammer of course is a very bullish sign and probably one of the most positive candle sticks you can find.
The EUR/CAD pair fell significantly during the session on Wednesday, as we continue the downtrend formation. Recently, I have suggested that we have broken below a significant support level, and it now looks as if we are going to continue to the downside.