USDJPY has bounced off support near the 108.00 major psychological level once more, creating a double bottom formation on the 1-hour time frame. Price is on its way to test the neckline at 109.75 and a break above this level could spur a reversal from...
USD The US dollar gave up ground on profit-taking and weak data on Friday. Industrial production and capacity utilization figures missed expectations while the preliminary UoM consumer sentiment index showed a decline in optimism. Meanwhile,...
USDCAD has been trading inside a descending channel on its 1-hour time frame and has just bounced off support. Another test of the resistance around the 1.3050-1.3100 levels could take place soon. The 100 SMA is below the 200 SMA so the path of least...
USD The US dollar regained ground against its counterparts despite weak economic data. Headline retail sales fell 0.3% instead of printing the projected 0.1% uptick while core retail sales were up 0.2% versus the projected 0.4% increase. Headline...
GBPNZD has been trending lower on its 1-hour time frame, with a descending trend line connecting the latest highs of price action. The pair bounced off the 2.1000 major psychological mark and might be due for a pullback to the falling resistance...
USD The US dollar had another mixed performance, as it gave up ground to the comdolls but was able to hold steady against the European currencies. There were no major reports out of the US economy yesterday while today has PPI and retail sales...
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...
