AUDUSD has been moving higher in the past few days but it could be a large correction from the longer-term downtrend. Applying the Fibonacci retracement tool on the latest swing high and low shows that the 61.8% level lines up with an area of interest...
USD The US dollar lost ground on Friday as risk appetite stayed strong until the end of the week. Data from the US economy was mostly stronger than expected, with the headline PPI showing a flat reading instead of the projected 0.1% dip and the...
EURGBP is still moving sideways on its 1-hour forex chart, bouncing off support at the .7260 area and finding resistance at .7360. Price is on its way up to test the top of the range once more while stochastic is moving down from the overbought...
USD The US dollar gave up further ground in recent trading sessions, as risk appetite continued to improve. Data from the US came in mostly in line with expectations, with the initial jobless claims report showing a drop from 281K to 275K in unemployment...
The recent downtrend on GBPJPY might soon turn, as the pair formed an inverse head and shoulders reversal pattern on its 1-hour chart. Price is currently testing the neckline around the 186.50 minor psychological level and a break past the resistance...
USD The Greenback was in a weak spot in yesterday's trading sessions even though there were no major reports out of the US economy. Risk appetite appeared to improve, as higher-yielding currencies stayed supported. Initial jobless claims and import...
USDCAD has been moving sideways for quite some time, but the pair seems to have formed lower highs on the 1-hour time frame. Price is also finding support at the 1.3150 minor psychological level, creating a descending triangle pattern. The pair...
USD The US dollar returned its recent gains when US traders came back from their Labor Day holiday, possibly reacting to the bleak NFP release last Friday. Data from the US showed small improvements, with the NFIB small business index improving...
USDCAD has been moving sideways on its 1-hour forex chart, finding resistance at the 1.3310 level and support at 1.3160. The pair is on its way to test the range support and might be due for a bounce, as stochastic is already indicating oversold...
USD The US dollar chalked up small gains against its forex counterparts despite the lack of liquidity in yesterday's market. US traders were off on a Labor Day holiday and there were no reports from the US economy. For today, only low-tier reports...
