USDCAD has been trending lower, moving inside a descending channel pattern on its 4-hour time frame. Price is now making its way close to the channel support near the 1.2700-1.2750 and might be due for a bounce. If so, USDCAD could climb...
USD The US dollar had a quiet day as traders hesitated to take large positions with a Fed special closed meeting scheduled. No major announcements had been made, although Yellen has also had a meeting with President Obama and VP Biden to discuss...
GBPJPY has been trending lower on the longer-term time frames but it looks like a retracement is in order. Price bounced off the 151.50 minor psychological support and might be due for a pullback to the descending trend line connecting the latest...
USD The US dollar had a mixed performance but it was able to scrape in some gains before the end of the session. Data from the US economy was stronger than expected, as wholesale inventories shrank 0.5% versus the projected 0.2% decline. FOMC...
GBPUSD has formed a head and shoulders pattern on its 4-hour time frame, suggesting a potential reversal from the previous uptrend. Price is testing the neckline around the 1.4050-1.4100 levels and a break could be enough to confirm that a downtrend...
USD The US dollar was able to benefit from the run in risk aversion yesterday, advancing against most of its higher-yielding rivals except for the yen. Data from Japan has been better than expected, as initial jobless claims landed at 267K versus the...
EURJPY previously broke below a rising trend line support on the 4-hour time frame and might be due for a correction soon. Price is already nearing the previous lows at 122.00 and sellers might be waiting for a pullback to enter at a better price before...
USD The US dollar was weaker against its forex rivals even though the FOMC minutes showed a couple of votes to hike interest rates in March Fed policymakers are still wary of inflation trends but acknowledged the strength in employment and housing....
USDCAD has been trending lower, thanks to the recent rallies in oil prices. Price has formed lower highs and lower lows, creating a descending channel pattern on its 4-hour chart. The pair just recently tested the resistance and appears ready to head...
USD The US dollar had another mixed performance, as data from the economy came in mixed. The ISM non-manufacturing PMI beat expectations with a rise from 53.4 to 54.5, outpacing the consensus at 54.1. However, the trade balance showed a much wider deficit....
