USDJPY has been trending lower on the longer-term time frames but it looks like an upside breakout and reversal might be due. Price is making another test of the descending channel resistance on the daily time frame without even hitting the channel support...
USD The US dollar returned its recent wins when FOMC member Brainard expressed a stronger degree of caution in her testimony. She cited that there's a need to exercise prudence before hiking and that she'd rather wait for stronger evidence of a rebound...
GBPJPY has formed higher lows and lower highs on its 4-hour chart, creating a symmetrical triangle pattern. The pair is just coming off a test of the resistance and might be aiming for the bottom of the triangle around 132.50. However, the 100 SMA just...
USD The US dollar tossed and turned on Friday as traders tried to price in odds of a Fed rate hike for this month or December. There were no major reports out of the US economy then while today has only a speech by FOMC member Brainard lined up. Dovish...
EURGBP recently broke below its ascending channel support visible on the 4-hour time frame then dipped to a low of .8335. From there, price showed signs of a pullback and applying the Fib tool on the latest swing high and low shows that the 38.2%...
USD The US dollar regained ground against its peers when risk appetite weakened after the ECB statement. Data from the US came in better than expected at 259K versus the projected 264K reading while consumer credit rose to 17.7 billion USD. US wholesale...
GBPAUD recently broke above a descending trend line on its 4-hour time frame, indicating that price was in for a reversal from the downtrend. However, the pair found resistance at the 1.7700 major psychological mark and has started to make a pullback. ...
USD Dollar pairs relaxed in their ranges during the latest US session as medium-tier reports printed stronger than expected results. The JOLTS job openings report showed positive hiring momentum while the Beige Book acknowledged that several...
EURAUD failed to break past its double bottom neckline the other week but it still seems to be forming another reversal pattern on the 4-hour time frame. Price is still in the middle of completing its right shoulder on the inverse head and shoulders...
USD The US dollar resumed its slump when the ISM non-manufacturing report turned out weaker than expected. The index fell from 55.5 to 51.4 to show a slower pace of industry growth, lower than the estimated 55.4 reading. Also, the Fed's labor...
