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Aussie Ready for a Breakout

The Aussie looks ready for a breakout. Look at our first chart below. The AUD/USD has been pushing against the resistance area around 0.7700-0.7800 for the past 12 months. We've now quoted at 0.7671 and we are again approaching this area. With each subsequent test the odds increase that the resistance will eventually be broken.
Where do we target in case of a breakout? The monthly ATR for this currency pair is now at 388 pips, as can be seen below. But this is high to low range. The open to clos…
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EURo Should Stablize in January

Europe's single currency could finally stabilize in January. On the weekly chart below we can see that the trend has been down. But the Stochastic Oscillator is flashing oversold level at only 10. This means that the downtrend could be on its last legs.
On our next chart below we see that the EUR/USD had a surge of buying as we trade close to support. This happened soon after prices hit a low of 1.0372, which is very close to the monthly low at 1.0352. A high of 1.0652 was hit during the frenzie…
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Singapore Dollar Will Return to Range-bound Trading

I expect to see the Singapore Dollar to return to range-bound trading and here's why. Despite the volatility during the past few weeks, this pair is still well inside the range seen since 2015, as can be seen on the chart below. We are now nearing the crucial resistance level at 1.4441. I don't think the pair will continue higher.
Look at the 8,3,3 Stochastic. It's flashing a value of over 80, signalling overbought market territory. The same can be seen on our next pic below, on the 4 Hour chart…
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fxsurprise8 avatar

My forecast is not doing so far with today's gains in the US Dollar. The USD/SGD is now trading at 1.4502, clearly above the crucial resistance at 1.4441.

Interesting that during most of the month the USD/SGD was trading range-bound, which can be seen by the small gains made compared to November.

Unfortunately for me, the pair seems to have stabilized in this congestion right above my forecasted price. Still, with the price just over 150 pips and 1 percent away from my forecast, all is not lost. I just need 1-2 days of weakness in the USD to 'turn a profit' here.

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Pace of Gains for USD/JPY Slowing

The pace of the gains in the USD/JPY has slowed. For the past two weeks, prices have been unable to break past 119. On Friday we got close when the currency pair rallied to a high of 118.77.
This may be a possible double top for the USD/JPY, a reversal pattern in technical analysis. Coupled with the slowing positive momentum, we may see a calm November for the pair, so I'm betting on prices staying more or less unchanged.
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