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...
EURJPY recently formed a reversal pattern on its 1-hour time frame, signaling that an uptrend might take place. Price just broke above the double bottom neckline at 125.00, confirming that further gains are in the cards. The 100 SMA is crossing above...
USD The US dollar gave up more ground against its peers when data came in weaker than expected. Initial jobless claims stood at 278K versus the expected 271K figure while both non-farm productivity and unit labor costs saw downgrades. The ISM non-manufacturing...
NZDUSD has slowly been trending higher, moving inside an ascending channel visible on its 1-hour time frame. Price just bounced off support and is making its way to the top for a potential test of resistance. If this ceiling holds, price could make its...
USD The US dollar weakened against most of its peers even though data from the US economy came in strong. Risk appetite came into play, leading traders out of the safe-haven dollar despite positive expectations for Friday's NFP. The ADP report...
