FOREX Technical Analysis & Forecast for 26 Aug

Posted: August 25, 2015 in Forex

USD/CAD
The USD/CAD pair went back and forth during the course of the day on Monday, but more importantly formed a bit of a hammer. With this we believe that longer term trend will continue. Considering the oil markets continues to show softness, CAD will essentially go much higher.
GBP/USD
GBPUSD fell during the day on Monday, but turned back around and reached the 1.58 level. Thought the market is in up trend but we need to clear 1.58 level in order to long with this pair. And once it breaks this level, it is expected to got to the 1.59 level. We do not see potential for selling this market at all.
AUD/USD
The AUDUSD pair fell drastically on Monday. The support at 0.70 level turned things back and formed a hammer. The market is highly volatile so it is better to stay on the sidelines and wait for some profitable trading opportunities.
NZD/USD
NZDUSD fell on Monday reaching 0.6050 level. Later in the day the market closed at 0.65 level. If we get above 0.6750 then we are definitely buyers at that point of time. We do not see any potential for selling this market as we can see enough support.

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