Forex Videos

Watch the latest analysis of the EUR/USD, AUD/USD Forex pairs for the August 24th in this video. EUR/USD — Thursday produced another bullish session and we formed a bit of a shooting star candlestick in the daily chart. There is some type of a channel possibly a rising wedge in this pair as seen in the daily chart. We have massive noise all the way upto 1.27 level. Because of this we are bearish of this pair. A break of the lows should have us falling. Whether or not we break this channel is a different story. Certainly a pullback is likely. As far as going long we need the 1.27 level to be taken out. AUD/USD — We have a trend line in the daily chart that has been tested. The thursday session was horrible. The 1.04 level looks supportive. If this level give away then we will see 1.03 immediately. This level was supportive previously. This trend line is not a major one. But it has been respected. We are here at a decision point. This pair needs to be watched. If 1.03 level gives away we will see the parity level in relatively short order. Poor Chinese economic numbers have been coming out and this ofcourse will weigh on the Australian dollar and that is one thing to keep in mind to why this maybe happening.