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...
USDCAD has been trading in an ascending channel on its 4-hour time frame but might encounter resistance on this uptrend soon. Price is making its way towards the top of the channel at the 1.3200 major psychological level, which might hold as a short-term...
USD The lack of top-tier data from the US economy left the Greenback reacting to country-specific data. The US dollar advanced to the commodity currencies but was mostly weaker against the euro, pound, and franc as sentiment seemed to improve in that...
EURAUD has formed lower highs and found support at the 1.4500 major psychological level, creating an ascending triangle pattern on its daily time frame. Price appears to be bouncing off the support zone and could carry on with its climb depending on...
USD The US dollar got a boost from risk aversion in yesterday's sessions, thanks to the IMF's downgrades on global growth forecasts. Building permits and housing starts came in line with expectations. There are no reports due from the US economy today...
