GBPUSD was previously consolidating inside a symmetrical triangle pattern on its 1-hour time frame before price decided to go for an upside breakout. This signals that buyers are taking control of price action and are ready to push for more gains. The...
USD The US dollar managed to score gains against the comdolls on weaker oil prices and rate cut expectations. Data from the US economy was weaker than expected, as the ISM manufacturing PMI slipped from 53.2 to 52.6 versus the projected dip to 53.1....
EURJPY has been trending lower on its 1-hour time frame, moving inside a descending channel formation. Price seems to be finding support at the bottom of the channel and could be due for another test of resistance. Applying the Fib tool on the latest...
USD The US dollar gave up a lot of ground on Friday when its Q2 advanced GDP reading came in far below expectations. The report showed that the US economy grew by only 1.2% versus the projected 2.6% expansion, just slightly higher than the earlier 1.1%...
GBPJPY has been trending lower on its 1-hour time frame, moving inside a descending channel. Price is testing support at the 135.00 major psychological level, which could keep losses in check for now. If so, the pair could climb back up to the channel...
USD The US dollar regained ground against its forex peers as risk aversion returned to the financial markets. Data from the US economy was slightly weaker than expected as the initial jobless claims landed at 266K versus the 261K forecast. The...
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...
