AUDUSD has been trending higher lately, moving inside an ascending channel on its 1-hour time frame. Price is currently testing support at the .7100 major psychological level and might be due for a bounce to the top. The 100 SMA is above the longer-term...
USD The US dollar suffered another sharp selloff in yesterday's New York session when data from the economy came in below expectations. Initial jobless claims rose 285K versus the projected 279K increase while factory orders slumped 2.9%....
USDCAD has been selling off lately but it is closing in on the rising trend line visible on the daily time frame. Price could make a test of the 1.3500-1.3600 support area, which is in line with the 61.8% Fibonacci retracement level based on the...
USD The US dollar suffered a sharp selloff during the New York session as data came in mixed and Fed official Dudley said that the currency's appreciation might be damaging to the economy. The ADP non-farm employment change report indicated a...
EURGBP recently broke to the upside of its long-term range pattern visible on the daily time frame then zoomed up to the .7750 minor psychological level before showing signs of a pullback. Using the Fib tool on the swing high and low shows that...
USD The US dollar had a mixed performance in recent trading sessions, as it advanced to the commodity currencies but retreated to the yen and European currencies. There were no major reports out of the US then, leaving the Greenback to function...
EURUSD has been consolidating lately, forming higher lows and lower highs to create a symmetrical triangle pattern on its 4-hour time frame. Price is currently testing the top of the pattern, which might continue to hold as resistance. If...
USD The US dollar was weighed down by weak data and dovish Fed rhetoric. US personal spending was flat in December even while personal income rose by 0.3%. The core PCE price index also showed a flat reading instead of the estimated 0.1% increase....
EURGBP is in a consolidation pattern and is currently testing the bottom of a descending triangle formation visible on the 1-hour time frame. Price appears to be bouncing off support at the .7550 minor psychological mark and might be due for a...
USD The US dollar had a mixed performance as it advanced to the yen, euro, and pound but gave up ground to the commodity currencies. The US advanced GDP reading was slightly weaker than expected at 0.7% versus the projected 0.8% growth figure...
