GBPJPY could be in for a strong rally, as a reversal pattern can be seen on its 1-hour time frame. Price failed in its last two attempts to break below the 184.00 major psychological support and is testing the neckline resistance at the 186.00 handle....
USD The US dollar made a few wins and losses here and there, as the currency seemed to react to country-specific events. Data from the US economy came in weaker than expected, with both the Chicago PMI and pending home sales report falling short...
USDJPY has been moving sideways on the short-term time frames, still waiting for more catalysts to spur a trend in either direction. At the moment, price is approaching the top of its range around the 123.75 level. If this area continues to hold as resistance,...
USD The lack of top-tier data from the US and the low liquidity after Thanksgiving wasn't enough to stop the US dollar from rallying against its peers, as risk aversion seemed to take over the financial markets. Only the Chicago PMI and pending home...
NZDUSD has been on a selloff but it looks like a reversal may be in order. Price is forming an inverse head and shoulders pattern on its 4-hour time frame, with an upside break of the neckline at the .6600 handle likely to send the pair up by 200 pips...
USD The US dollar was mostly stuck in consolidation against its forex rivals since there were no reports out of the US economy. Traders are off on Thanksgiving holidays and might not be back until Monday's US trading session. There have been no reports...
USDJPY has been climbing recently but a reversal pattern just formed, indicating that a downtrend might be next. Price made a double top pattern on the 4-hour time frame and is currently testing the neckline at the 122.50 minor psychological level, with...
USD The US dollar chalked up another mixed forex performance, as economic reports were all over the place. The headline durable goods orders report showed an impressive 3.0% gain while the core version of the report simply came in line with expectations...
GBPAUD has sold off sharply recently, breaking below a significant support level around 2.1200 From there, the pair dipped to a low of 2.0715 before showing signs of a retracement. Using the Fib tool on the latest swing high and low on the 4-hour chart...
USD The US dollar functioned mostly as a counter currency in recent trading sessions, ending up with a mixed performance against its forex peers. Data from the US economy came in weaker than expected, as the CB consumer confidence index slumped from...
