EURGBP has been moving in an ascending channel visible on its longer-term time frames and is just testing the resistance. Price seems to be making a correction from the uptrend at this point and applying the Fib tool on the latest swing high and...
USD The US dollar had a mixed performance as there were no major reports on deck. Today has the new home sales report and the Richmond manufacturing index on tap, although traders might be less sensitive to data as they stay on the lookout for more...
USDCAD was previously trading inside an ascending channel pattern before breaking lower to signal a reversal. Price hit a low of 1.2762 before pulling up and indicating that a retracement to the broken support area could be in order. Applying...
USD The US dollar was able to regain ground against its peers on Friday, despite the lack of top-tier data from the US economy. Risk aversion appears to have supported the safe-haven currency as reports of the Brexit process being triggered in April...
EURUSD is on an uptrend on its 4-hour time frame, moving above an ascending trend line and getting ready to test support. The Fib tool applied on the latest swing high and low shows that the 61.8% retracement level lines up with the trend line and an...
USD The US dollar was still mostly weaker against its peers and hawkish remarks from Fed officials weren't enough to spur gains. Reports such as initial jobless claims and Philly Fed index were also better than expected but forex traders still seem...
EURAUD has been declining on its 4-hour chart but a reversal pattern has formed, signaling a potential uptrend. Price has failed in its last two attempts to break below the 1.4500 major psychological support, creating a double bottom formation with the...
USD The US dollar gave up some of its recent gains when the FOMC minutes showed that the central bank is in no rush to hike interest rates. Most policymakers judged that it would be prudent to accumulate more data before tightening. Ahead of this, Fed...
GBPAUD has been trending lower on its 4-hour chart, moving below a descending trend line connecting the latest highs of price action. Price is starting to pull up from its recent dive and applying the Fib tool on the swing high and low reveals that the...
USD The US dollar was off to a weak start but soon made a rebound against most of its peers. Talk of potential rate hikes from Fed officials renewed dollar strength as traders are setting up for the release of the FOMC meeting minutes later today....
