EURGBP recently broke below the .7100 key support level, indicating that sellers are ready to push the pair lower. Price is pulling back to the broken support area which lines up with the 38.2% Fibonacci retracement level and might keep further...
USD The US dollar was off to a strong start this week, thanks to risk aversion stemming from the weekend events. Greece was unable to come up with an agreement with its creditors during their weekend meetings while China announced another round...
EURUSD finally broke out of its triangle consolidation pattern visible on longer-term time frames, signaling that the pair is ready for more declines. Price gapped down over the weekend and opened below the ascending triangle support. Stochastic...
USD The US dollar consolidated against most of its FX trading rivals in recent sessions, as data from the economy came in mixed. Personal spending came in better than expected with a 0.9% gain while the personal income figure fell short of expectations...
USDJPY is starting to move sideways on its 1-hour time frame, as resistance at the 124.25 level held. Price is now moving back to the bottom of the range near the 122.50 minor psychological support. Stochastic is starting to climb from the oversold area,...
USD The US dollar was able to advance against some of its counterparts yesterday but gave up most of its recent gains in today’s Asian trading session. As expected, the US Q1 GDP was upgraded from -0.7% to -0.2%, reflecting a smaller contraction t...
GBPAUD has been forming higher lows, creating an uptrend on its 4-hour time frame. In fact, an ascending trend line can be drawn to connect the latest lows and the pair is moving closer to test the rising support area. RSI is pointing down, suggesting...
USD The US dollar took advantage of the run in risk aversion earlier on in the day, as traders started to accept the idea that Greece might default on its loans. However, weaker than expected data from the US prevented the dollar from extending its...
EURAUD formed a double top pattern on its 4-hour chart recently, signaling that price is exhausted from its climb. The pair just broke below the neckline of the chart formation, confirming that a reversal is bound to take place. However, stochastic and...
USD The US dollar was able to recover in recent trading, as risk aversion seemed to be present in the markets. There have been no signs of a deal in the EU emergency meeting, which led traders to start accepting that a default might take place....
