GBPUSD has been trending lower on the longer-term time frames and the recent rally offers an opportunity to short on a pullback. A descending trend line can be drawn to connect the latest highs of price action and the Fib tool shows potential resistance...
USD The US dollar gave up some of its wins when risk appetite improved in the market. Data from the US economy was actually stronger than expected, as the ISM manufacturing PMI rose from 48.2 to 49.5, outpacing the consensus at 48.5. The ADP non-farm...
EURJPY has been selling off recently but it seems that a reversal is about to take place. Price formed a double bottom pattern visible on its 1-hour chart, hinting that an uptrend might take place. Price failed in its last two attempts to break...
USD The US dollar wasn't able to establish a clear direction in recent sessions, as it simply reacted to other currencies' price action. Data from the US economy came in mostly weaker than expected, as the Chicago PMI fell from 55.6 to 47.6 while...
GBPAUD has been trending below a descending trend line on its 4-hour time frame and seems to be ready for a pullback. Price bounced off the 1.9300 area and might retrace to an area of interest near the trend line. Applying the Fib tool on...
USD The US dollar had a strong run on Friday, thanks to an upbeat GDP release. The preliminary reading showed an upward revision from 0.7% to 1.0% instead of being downgraded to 0.4% as expected. Personal spending and income both ticked...
AUDUSD has been trending higher in the past weeks, trading above an ascending channel on its 1-hour time frame. Price is currently testing the trend line support and might be due for a bounce or a break. A bearish flag appears to have formed right...
USD The US dollar gave up some ground to its higher-yielding peers as risk appetite improved yesterday. Data from the US came in mostly stronger than expected, with the headline durable goods orders showing a 4.9% rebound from the previous 3.0% decline...
GBPJPY has been trending lower across multiple time frames, moving below a descending trend line on its 4-hour forex chart. Price is currently pulling up to the resistance area and might be ready to resume its drop to the previous lows at 154.75. Using...
USD The US dollar was in a weak spot due to a pickup in risk appetite and weaker than expected US data. The flash services PMI fell from 53.2 to 49.8, its lowest reading in 28 months, versus the projected rise to 53.4. New home sales sank from 544K...
