EURGBP might be in for a reversal from its previous uptrend, as a head and shoulders pattern can be seen on its 4-hour chart. Price has yet to test the neckline support at the .7700 handle and break lower before confirming the potential downtrend....
USD The US dollar weakened yesterday as the ECB stimulus expansion brought risk appetite back to the financial markets. Only the initial jobless claims report was released from the US then and it showed a better than expected 259K reading versus the...
EURAUD previously broke below a double top pattern, signaling that a downtrend was in order. Price dipped to the 1.4467 low soon after before showing signs of a pullback after the ECB press conference. Using the Fibonacci retracement tool on the latest...
USD The US dollar got back on its feet in recent trading sessions, advancing to the European currencies and Japanese yen. It gave up some ground to the Aussie and Loonie but also rallied against the Kiwi after the RBNZ statement. There were no reports...
NZDUSD has been on an uptrend on its 4-hour chart but just recently bounced off the top of the rising channel. Price is now headed towards the bottom of the range at the .6600 major psychological level, which might still hold as support. This channel...
USD The US dollar regained ground in yesterday's trading session when risk aversion returned. Data from the US economy was weaker than expected, as the NFIB small business index fell from 93.9 to 92.9 to indicate weakening conditions. Wholesale inventories...
NZDUSD is trending higher but a countertrend opportunity is presenting itself now that the pair is testing the rising channel resistance. The top of the range at .6800 appears to have held as a ceiling, with a short-term double top pattern, and might...
USD The US dollar had another losing day, as there were no major reports to give it any support yesterday. FOMC officials Fischer and Brainard highlighted the pickup in inflation seen recently, citing that the outlook seems positive. However, the labor...
EURGBP has been rallying for the past few weeks but it looks like a large correction is underway. Price found resistance around the .7900 mark and is showing signs of a pullback to the area of interest at .7400. This area is somewhere between the 50%...
USD The US dollar gave up ground despite stronger than expected NFP data. The economy added 242K jobs in February versus the projected 195K increase while the previous reading was upgraded from 151K to 172. However, average hourly earnings fell...
