EURCAD is still moving inside its descending channel visible on the pair's 4-hour time frame.  Price is moving closer to the channel resistance around the 1.4450 minor psychological mark and 200 SMA.  The 100 SMA appears to be holding as near-term...

USD The US dollar returned some of its recent gains despite mixed data from the US. The trade balance showed a wider than expected deficit of $41.1 billion but the ISM non-manufacturing PMI showed a strong jump from 52.9 to 56.5. The FOMC minutes contained...

EURGBP has gradually been trending higher, moving above a rising trend line visible on its 1-hour time frame.  Price might be ready for a pullback towards the support around the .8500 major psychological mark as stochastic is heading south and showing...

USD The US dollar was a big winner in yesterday's London and US sessions thanks to the run in risk aversion.  Data from the US economy was actually weaker than expected, with factory orders down 1.0% versus the projected 0.8% drop, but traders...

EURGBP was recently consolidating inside a rising wedge formation then recently broke to the upside, indicating that buyers are gaining strength.  The chart pattern is approximately 400 pips tall so the resulting rally could last by the same number...

USD The US dollar was stuck in consolidation against most of its forex counterparts since US banks were closed for the Fourth of July holiday.  US factory orders data are up for release today and a 0.8% decline is eyed, following the previous 1.9%...

EURUSD recently broke below a rising trend line on its daily time frame, signaling that the uptrend is over.  Price dipped to a low of 1.0925 then showed signs of a pullback. Applying the Fib tool on the swing high and low shows that the 61.8% retracement...

USD The US dollar was mostly weaker than expected last Friday despite stronger than expected ISM manufacturing PMI data.  The reading jumped from 51.3 to 53.2 instead of holding steady, indicating a much faster pace of industry growth. However,...

AUDJPY recently broke below a long-term support area in its sharp dive to a low of 72.40 before pulling back up.  Applying the Fib tool on the latest swing high and low shows that this former support level lines up with the 61.8% Fibonacci retracement...

USD The US dollar regained a bit of ground in the latter part of the US session as data came in mostly stronger than expected. Initial jobless claims landed at 268K while the Chicago PMI showed a return to industry expansion. The reading jumped from...