During the session on Thursday, the EUR/USD pair bounced enough to show that there is indeed support at the uptrend line that had continued to push this market higher and form an ascending triangle on the longer-term charts.
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The EUR/GBP pair tried to rally initially during the course of the session on Thursday, but struggled at the 0.72 level and fell far enough to form a bit of a shooting star.
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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.
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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.
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Get the NZD/USD Forex signal for October 29, 2015 here.
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Get the AUD/USD Forex signal for October 29, 2015 here.
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Get the USD/JPY Forex signal for October 29, 2015 here.
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Get the USD/CAD Forex signal for October 29 2015 here.
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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.
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Get the EUR/USD Forex signal for October 29, 2015 here.
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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.
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The USD/CAD pair fell rather drastically during the course of the session on Wednesday, as the oil markets skyrocketed.
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