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...

NZDJPY has been edging higher recently, pulling up from its sharp dive. Using the Fib tool on the latest swing high and low on the daily time frame shows that price is currently testing the 50% retracement level, which lines up with a broken long-term...

USD The US dollar gave up some ground but managed to pare some of its losses as risk appetite stayed in the markets. Data from the US came in line with expectations, as the core PCE price index was up 0.2% as expected while personal spending rose 0.4%...

USDCAD has formed lower highs and higher lows, creating a symmetrical triangle pattern on its daily time frame. Price is just coming off a test of the triangle resistance and looks ready to make a test of support around the 1.2800 major psychological...

USD The US dollar regained a bit of ground in the past few hours as the recovery in risk appetite failed to gain much traction. The final US GDP reading for the first quarter of the year was upgraded from 0.8% to 1.1%, higher than the forecast at 1.0%....