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....
EURUSD has been consolidating inside a rising wedge pattern for the past few weeks and is recently showing signs of a breakdown. Price is trading below the 1.1300 handle and may be in for around 200 pips more in losses, which is the same height as the...
USD The US dollar regained a bit of ground against its rivals on Friday, as traders booked profits ahead of the weekend. There have been no economic reports released from the US economy then while today has the existing home sales data on tap....
EURCHF is trending higher on its 4-hour time frame, with price testing support at the bottom of the rising channel around the 1.0400 major psychological level. Stochastic is indicating oversold conditions and is starting to move higher, which suggests...
USD The US dollar regained ground against most of its forex rivals, except for the British pound, yesterday when data came in mostly stronger than expected. The headline and core CPI readings missed expectations, but the initial jobless claims,...
