Forex And Comex Report - 24th Sept 2015

EUR/USD

EURUSD rallied during the day and slightly rose on Wednesday. It seems that the pair has changed its trend and is making a bullish candle. On the daily chart with the trend reversal we feel that the market will head up to 1.1295 level and once this level is cleared we can possibly reach near to 1.14 level. With no other thought, buyers have enter into this market and so the next daily candle will again be bullish.

GBP/USD

GBPUSD fell during the day slicing down to 1.5258 level. The pair is in the longer term down trend so we feel that we are still sellers in this market. The pair will touch 1.5180 level, but after that it may reverse and buyers can be seen in this market. If the major support of 1.5160 is broken then we can move much down to 1.49 level. The next daily candle is expected to change the current trend of the pair.

AUD/USD

AUDUSD fell during the day on Wednesday. The Australian Dollar is in the longer term down trend so we do not see potential for buying in this market at the moment. If we break down below 0.6900 level, the pair will make a new low and we may land to 0.67 or possible 0.66 level down there.

NZD/USD

NZDUSD rallied during the day, but we may get to see some major movements in the pair as the US market opens. New Zealand is in a longer term down trend and we are waiting for a candle that would break the major support of 0.6230 level. On this is cleared we can move down to 0.60 level and probably to 0.58 in the near future.