The USD/CAD pair initially rose during the course of the session on Tuesday, but found enough resistance near the 1.3150 level to turn things back around and form a pretty significant looking shooting star.
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The USD/SEK pair fell rather hard during the course of the day on Tuesday, which is something that I’ve been waiting for. While the US dollar does seem to be favored in general, we are seeing quite a bit of volatility and a possible trend change against many currencies.
The GBP/AUD pair initially tried to rally during the course of the day on Tuesday, but found the 2.13 level to be a bit too resistive. Because of this, we ended up forming a relatively negative candle, one that looks a bit like a shooting star.
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Get the USD/CAD Forex signal for October 7, 2015 here.
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Gold resumed its rise on Tuesday, after taking a breather on Monday, as weakness in the dollar bolstered demand for the precious metal.
Get the NZD/USD Forex signal for October 6, 2015 here.
Get the AUD/USD Forex signal for October 6, 2015 here.
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Get the USD/JPY Forex signal for October 6, 2015 here.
Get the USD/CHF Forex signal for October 6, 2015 here.
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Gold prices ended Monday's session down $2.09 as investors took profits from a rally spurred by dreadful U.S. jobs data that pushed back expectations of an interest rate hike by the Federal Reserve to early 2016.
The EUR/USD pair initially tried to rally during the course of the day on Monday, but failed at the 1.13 level yet again. This just confirms what I have thought for some time, but this market really doesn’t know where to go yet.