Forecasting

After a sharp rally today EUR/USD found some resistance at 1.1485, formed a spinning top candlestick at that level on the one-hour time-frame and bounced off from it. There may be a retracement towards 1.1400.

USD/CAD broke out above 1.3445 and continued moving to the upside. The pair remains very bullish and it will likely continue developing north towards 1.3600.

USD/CAD did reach 1.3600 and it remains quite bullish. Next week we will likely see a breakout above that level and then a further move to the upside.

USD/CAD is consolidating sideways around 1.2580 and it will likely continue doing so around the holidays before we finally see a new move to the upside, I think.

USD/CAD closed at 1.3600 before the holidays. Unless it forms a double top around that level we will likely see it continue moving to the upside once the market opens again.

GBP/JPY found some support at 140.25 and will likely continue consolidating sideways around that level. If it forms a double bottom there we may see a new move to the upside.

EUR/USD is back to testing the resistance at 1.1420 and the sideways consolidation clearly continues. I think we won't see any major changes by the end of the holidays.

NZD/USD is testing the support at 0.6700 after forming a shooting star candlestick at the resistance at 0.6970 on the weekly time-frame and bouncing off from it. Next target will probably be at 0.6600.

AUD/USD broke out below the last low at 0.7025 and continues moving to the downside. A breakout below 0.7000 will likely lead to a further depreciation towards 0.6870.

USD/CAD dropped sharply today and is currently at the support at 1.3540. The pair remains quite bearish and we may see it depreciate towards 1.3500.