GBPJPY has formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame Price just bounced off the triangle support around the 155.50 minor psychological level and might be due for a test of resistance at 159.00-160.00....
USD The US dollar failed to establish a clear direction in recent trading sessions, as the lack of top-tier data left it sensitive to country-specific events. The Empire State manufacturing index fell from 9.6 to -9.0 instead of just dipping to 7.2....
EURGBP could be in for a longer-term selloff, as a head and shoulders pattern is being completed on the pair's daily time frame. Price is on its way to test the neckline around the .7750 minor psychological support and a break lower could confirm the...
USD The US dollar got a boost from risk aversion and stronger than expected reports on Friday. Headline consumer spending rose 1.3% instead of posting the projected 0.3% drop while core retail sales gained 0.8%. Preliminary UoM consumer sentiment...
USDJPY has been trending lower on its 4-hour chart, moving below a descending trend line connecting the latest highs of price action. The pair is currently stalling between the 50% and 61.8% Fibonacci retracement levels, which keep further gains...
USD The US dollar was in a weak spot in the earlier sessions but was able to get back in the game during the New York hours. Data from the US economy actually came in weaker than expected, with initial jobless claims landing at 294K and import prices...
EURJPY has formed lower highs and found support at 122.25, creating a descending triangle pattern on its 4-hour time frame. Price is currently testing the triangle resistance, still deciding whether to make a bounce or a break. The 100 SMA...
USD The US dollar gave up ground to its forex counterparts as there were no major reports to give it any support yesterday. Initial jobless claims and import prices data are up for release today, along with speeches from FOMC member Rosengren...
AUDUSD recently broke above a double bottom neckline, signaling that a long-term uptrend might take place. Price reached a high of .7830 before showing signs of a correction. Applying the Fibonacci retracement tool on the latest swing high and...
USD The US dollar gave up ground to the commodity currencies but was able to hold steady against the euro and the yen. Medium-tier reports from the US economy turned out stronger than expected, as JOLTS job openings gained while the NFIB Small...
