NZDUSD has formed a double top pattern visible on its daily time frame, hinting that a longer-term selloff is in the cards. The chart pattern is approximately 400 pips in height so the pair could be in for the same amount in losses. Price has yet to...
USD The US dollar gave back some of its wins to its rivals, particularly the European currencies, when US equities also tumbled on risk aversion. S&P 500 and Nasdaq closed roughly 3% lower for the day, as investors worried that higher borrowing costs...
USDCAD has been breaking past one high after another in the past few days, as risk aversion and falling oil prices have weighed on the Canadian dollar. It seems that the pair has topped at around 1.4170 and may be ready for a pullback to an area of interest....
USD The US dollar had a mixed performance as it advanced to the commodity currencies and pound but gave up ground to the yen and the euro. Data from the US economy was also mixed, with the ADP report printing strong results and the ISM non-manufacturing...
EURUSD has been trending lower on the short-term time frames, with a potential retracement opportunity presenting itself on the 4-hour chart. Price previously broke below support around 1.0850-1.0900 before dipping close to the 1.0700 handle then pulling...
USD The US dollar continued to rake in gains during Tuesday's trading sessions since risk aversion stayed in play. Data from the US economy was once again weaker than expected, with total vehicle sales declining from 18.2 million to 17.3 million in...
GBPAUD has been trending lower on its 4-hour time frame, moving inside a descending channel connecting the latest highs and lows of price action. Price just bounced off the bottom of the range and is now making its way to the top, which might continue...
USD The US dollar was able to draw support from the run in risk aversion although it paled in comparison to the Japanese yen. The ISM manufacturing PMI turned out to be a disappointment as the reading fell from 48.6 to 48.2 instead of improving to the...
NZDUSD has been trending lower on its weekly time frame, moving below a descending trend line connecting the latest highs of price action. Price is currently testing the downtrend line around the .6800 major psychological level and has confirmed a reversal...
USD The US dollar is on relatively strong footing this week, especially since the Fed recently started its rate hike cycle and data from the US came in mostly stronger than expected. The ISM manufacturing PMI is up for release today and a rise...
