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....
AUDNZD broke past the resistance around the 1.1000 major psychological level last month then zoomed up to the 1.1300 levels before showing signs of a pullback. Applying the Fib tool on the latest swing high and low on the daily time frame shows that...
USD The US dollar had a mixed performance as it functioned as a counter currency due to the lack of top-tier data. Factory orders turned out weaker than expected with a 1.7% decline versus the projected 1.5% fall while the labor market conditions index...
NZDUSD has slowly been trending higher, moving inside an ascending channel formation on its 4-hour chart. Price just bounced off the channel resistance at the .6950 minor psychological level and is due to test support at .6700-.6750 soon. This support...
USD The US dollar got a boost from stronger than expected NFP data last Friday, as the economy added 215K jobs versus the expected 206K increase. While the jobless rate rose from 4.9% to 5.0% this was mostly a result of a larger labor force participation...
