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Daily Forex Signals

Daily forex signals

CAC 40 Double Tops at Channel Line

Talking Points CAC 40 carves a double top pattern Elliott Wave pattern could not push beyond the mid-line of the Elliott Wave channel Bears are activated on a move below channel support near 5200 The Elliott Wave pattern on CAC 40 is intriguing. CAC 40 appears to have finished the five wave impulse move at the Elliott Wave channel mid-line. This implies a weak market and is...

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AUD/USD Technical Forecast: Searching for a Bottom

The structure of the technical pattern for AUD/USD suggests the move towards higher levels is incomplete and may eventually reach .82 and possible .84. Do you struggle with your trading? This could be why. The Elliott Wave model we are following suggests the upward correction that began in September 2015 remains incomplete. According to Elliott Wave Theory, we are counting this pattern as a complex upward correction subdivided as w-x-y and built with Expanded Flat-Triangle-Zigzag. AUD...

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U.S. Dollar Sell-off Targets Initial Support

To receive Michael’s analysis directly via email, please SIGN UP HERE DXY testing confluence support- Focus is on a break below 94 Check out our 4Q projections in our Free DailyFX Trading Forecasts Join Michael for Live Weekly Strategy Webinars on Mondays at 12:30GMT DXY Daily Chart Technical Outlook: We’ve been tracking a long-term slope line dating back to 2011 and in last week’s...

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USD/JPY Rebound Unravels Amid Cautious Fed Rhetoric

Talking Points: – USD/JPY Rebound Unravels Amid Cautious Fed Rhetoric; U.S. CPI in Focus. – GBP/USD Vulnerable to Subdued U.K. Household Earnings. USD/JPY falls back from a fresh weekly-high (113.91) as Federal Reserve officials signal a more shallow path for the benchmark interest rate, and the pair may remain under pressure over the next 24-hours of trade as the U.S. Consumer Price Index (CPI) is expected to slow to...

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Gold Trades Mixed Based On Sentiment

Spot Gold: Retail trader data shows 79.9% of traders are net-long with the ratio of traders long to short at 3.98 to 1. The number of traders net-long is 1.1% higher than yesterday and 2.8% lower from last week, while the number of traders net-short is 14.5% higher than yesterday and 3.6% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long ...

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Euro May Rise as Net-Short Positions Increase

EURUSD: Retail trader data shows 32.5% of traders are net-long with the ratio of traders short to long at 2.08 to 1. The number of traders net-long is 3.7% higher than yesterday and 15.1% lower from last week, while the number of traders net-short is 11.7% higher than yesterday and 1.6% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders ...

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GBP/USD Volatility Expectations Rising, On the Brink of a Range-break

What’s inside: GBPUSD implied volatility on the rise in the past week Trading range over past five weeks at risk of breaking soon Break of trend-lines and 13000 to kick off next leg lower What drivers are expected to move markets through the end of the year? Check out the DailyFX Forecasts. In the table below, we’ve listed implied volatility (IV) levels for major USD-pairs looking out over the next one-week and one...

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Dovish ECB to Tame EUR/USD Rebound; NOV Opening Range Remains in Focus

Talking Points: – Dovish ECB to Tame EUR/USD Rebound; Monthly Range Remains in Focus. – GBP/USD Preserves Monthly Opening Range; Near-Term Outlook Hinges on U.K. CPI Report. EUR/USD extends the series of higher-lows from the previous week, with the pair coming up against the monthly-high (1.1690), but fresh comments from European Central Bank (ECB) officials may tame the near-term rebound in the single-currency as the Governing Council remains in ...

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Canadian Dollar Battles Headwinds Ahead of Inflation Release

Talking Points: Oil is underpinning the Loonie but US shale supply looms. Friday’s inflation data will steer the central bank’s monetary policy for the rest of the year. The October USD/CAD high may come back into play. Fundamental Forecast for CAD: Neutral We remain neutral on the Canadian Dollar but would look closely at buying USD/CAD if oil prices start to turn lower or if Friday’s inflation release ...

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Yuan Torn between Milestone Opening up, Private Investment Concern

Fundamental Forecast for CNH: Neutral The overcast of major trade conflicts is removed after Trump-Xi meeting, economic outlook improved. China announced milestone opening up in financial markets: limits on foreign firms are loosened. Private investment in fixed assets, which impacts the recovery pace, could drop further in October. When market volatility elevates, how to manage risks? Find out now! The Chinese Yuan (CNH) lost against all G10 currencies on a weekly ...

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