GBPUSD has been forming higher lows and lower highs, creating a symmetrical triangle pattern on its 1-hour time frame. Price recently bounced off the triangle support and looks ready to make another test of resistance. The 100 SMA is below...
USD The US dollar had a volatile run during the actual FOMC statement as it initially rallied on an upbeat announcement but returned its recent gains and more when risk appetite picked up. FOMC members upgraded their economic assessment, particularly...
GBPJPY recently broke below support at the 139.00 major psychological level then dipped to the 136.00 area before pulling up. Applying the Fib tool on the latest swing high and low on the 4-hour time frame shows that the 50% level lines up with...
USD The US dollar was off to a weak start in the day but it managed to recoup its losses during the US session, thanks to upbeat data. The CB consumer confidence index was down from 97.4 to 97.3 but this was higher than the projected 95.6 figure. New...
USDCAD recently made an upside breakout from its symmetrical triangle pattern, signaling that buyers have taken control of price action. However, the rally was cut short at the 1.3200 area and a correction seems to be taking place. Applying the...
USD The US dollar was the big winner for the day, as it raked in gains across the board on risk aversion. Commodity prices have been on the decline while stock indices appear to have peaked since traders are taking profits ahead of this week's...
USDCAD formed lower highs and higher lows in the past few weeks since late May, creating a symmetrical triangle pattern on its 4-hour time frame. Price has broken above the triangle resistance, indicating that buyers are gaining the upper hand...
USD The US dollar was the king of pips on Friday as risk aversion returned and data from the US beat expectations. The flash manufacturing PMI rose from 51.3 to 52.9, higher than the consensus at 51.9. There are no major reports up for release...
USDJPY has been trending lower on its longer-term time frames, moving inside a descending channel on its daily time frame. Price is currently testing the channel resistance at the 106.50-107.00 area, which lines up with a former support level....
USD The US dollar gave up a bit of ground against its forex peers when risk appetite improved after the ECB statement. Still, the Greenback managed to rake in some gains against the Loonie. The Philly Fed index missed expectations as it fell from 4.7...
