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EURo to Resume Downtrend Trend

After several months of range-bound movement, the downtrend in the Euro resumed in October. The prospect for more ECB QE and on the other hand the coming rate hike in the States have pushed the pair down to the 1.1000 mark.
As we can see on the chart above, each retracement formed a flag pattern which then broke to the downside. This happened two times already and we're now coming up to the 3rd time. A break below the 1.1000 figure should help with the downward momentum as well.
But what about o…
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USD/DKK to Continue Range

The USD/DKK gained about 1.4 percent in October. We seem to have a nice momentum move higher right now. But on a long-term perspective the pair remains firmly in a range. We can see on the chart below that the Danish Krone has been in this range since the start of February.
Prices are currently situated right in the middle of that range. Furthermore, the rally has been losing steam, as we can see on the chart below. All of this leads me to believe that we wont see major changes in the USD/DKK ne…
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More Losses for the Swissy

October wasn't kind to the Swissy. The currency lost lost about 130 pips against the Dollar this month. We are currently quoted at 0.9876. We can see this surge in prices on the chart below.
I expect this trend to continue. But the question is where will it stop? We find important previous swings near the parity level (1.0000) as well as at 1.0127 and 1.0289. The Average Range in the pair has been over 400 pips. But keep in mind that this is high to low, not open to close. A more conservative me…
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Cable to Continue to Trade Flat

Cable ended the month higher by 300 pips. This surprising reversal of fortunes comes after the Dollar got hit with a slew of negative data. But let's look at the big picture. The weekly chart below shows that we've been range-bound for five months now, since the beginning of May. I expect this to continue going forward.
But where will the current momentum move higher stop? As we can see on the chart below, the GBP/USD is now running up against major resistance at 1.5500. This should put a damper…
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Japanese Yen to Lose More Ground

The Japanese Yen looks set for another leg of losses. In October the USD/JPY closed higher by 74 pips, a relatively small amount. But this doesn't tell the whole story. As we can see on the chart below the pair keeps pushing on the resistance area between the 121 round figure and the August high at 121.73.
With each new test the odds increase that we will eventually see a breakout higher. But where can that take us? Looking at the longer-term charts our target should be near this year's high at …
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Singapore Dollar to Stay Put

The rally in the USD/SGD seems to be finally over. In October the pair closed lower by a large 229 pips to 1.4010. As we can see on the picture below, the USD/SGD rolled over and the short-term trend is now down. But it's also visible that prices haven't made any headway in the past two weeks. In fact the Dollar seems to be gaining back some of that lost ground.
Why is this happening? Let's remind our readers of the long-term trend. On the weekly chart below we can see the large gains in this pa…
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More Range for the EUR/GBP

The EUR/GBP mostly stayed range-bound in October, although not without some volatile moves. First we rallied over 100 pips to a multi-month high of 0.7492. But from here we fell by almost 400 pips to a low of 0.7122. We are currently quoted at 0.7131. Confused? You should be.
But the picture isn't clearer even if we look further out. As we can see on the weekly chart below, the EUR/GBP has been range-bound for most of this year. I'm betting on this continuing to be the case and no major changes …
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Potential Reversal in the EUR/JPY

The EUR/JPY fell by a substantial 120 pips in October. But this was mainly due to increased QE by the ECB and no new QE by the Bank of Japan. These fundamental factors will likely change as these two Central Banks compete in who can ease more. On the technical front, the pair bounce of the 132.21 support level. We are currently quoted over 50 pips higher at 132.70.
Since our downside is capped, why not up? Well as we can see on the Weekly chart below the pair has been trading in a range since Ma…
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Islands Battle to End in a Tie

The AUD/NZD is not a big mover historically. The reason for this is simple. The two nations Australia and New Zealand do a lot of trade with each other. In addition, they both live off selling commodities and these tend to move together and in cycles. With the recent downturn in commodity prices, both currencies have lost a lot of ground against the majors. But against each other, there has been little movement this year. We opened 2015 at 1.0526 and we are currently quoted at 1.0525.
So we basi…
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More of the Same for the EUR/PLN

The EUR/PLN has traded range-bound for the past few years. Granted, we have since some wild swings. This year, in percentage terms, the swings from low to highs were around 9 percent. In j-forex you can find a neat tool called ''Percent Lines'' that you can use to quickly figure out how much the pair has moved from high to low or vice versa.
But ultimately the pair keeps coming back to that 4.25 figure. The range-bound movement is evident even on the 4 hour chart below. Again we got a lot of swi…
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