GBPUSD had been trading below a descending trend line since mid-June but the pair recently broke to the upside. This signals that a reversal is in order, especially since price made a pullback to the broken trend line which now seems to be holding as...
USD The US dollar opened higher against most of its forex counterparts upon finding out that there has been no deal struck over the weekend between Greece and its creditors just yet. Data from the US was weaker than expected last Friday, as wholesale...
EURGBP is still on a downtrend but the pair is currently testing the top of the descending channel visible on its 4-hour time frame. If resistance around the top of the channel or .7200 holds, the pair could move back to the bottom at .7000 or...
USD The US dollar returned most of its recent gains in yesterday’s trading sessions when risk appetite started to improve. News that the Greek government is gearing up to submit a revised economic reform plan lowered the odds of a Grexit while t...
AUDUSD bounced off its recent lows as risk appetite returned to the markets in the past few trading sessions. The pair looks ready to retrace to the broken support at the .7600 major psychological level, which lines up with the 50% Fibonacci retracement...
USD The US dollar gave back some of its recent gains to its counterparts when the FOMC minutes contained no clear indication that the Fed was ready to hike in September. In fact, the minutes showed a lot of concern when it comes to Greece and...
NZDUSD has been on a strong downtrend in the past few weeks but price is pulling up to test a resistance level on its 1-hour time frame. Price is trading around the descending trend line connecting the recent highs and this resistance area lines...
USD The US dollar was able to benefit from risk-off flows once more, as the EU Summit resulted in an ultimatum for Greece to accept the bailout proposal or exit the euro zone. Apart from that, the selloff in the Chinese stock market has been weighing...
USDCHF is currently testing the resistance of the symmetrical triangle visible on its daily forex chart. Price is also encountering a ceiling around the moving averages, indicating that a selloff might take place. Stochastic is still moving up,...
USD The US dollar stayed supported at the start of the week after most of its currency counterparts were able to fill the gap from the weekend. Data from the US came in weaker than expected, as the ISM non-manufacturing PMI climbed from 55.7 to...
