A double bottom reversal pattern can clearly be seen on Cable’s 4-hour forex chart, indicating that a long-term rally might take place. Price is currently testing the neckline of the pattern around the 1.5000 major psychological resistance. An upside b...

USD The US dollar managed to recoup some of its recent losses as risk aversion extended its stay in the financial markets.  There have been no reports from the US economy then, leaving traders to focus on other news updates that affect overall...

USDCAD has been trading lower in the past few days, after breaking below support at the 1.2450 minor psychological level.  Since then, the pair has tested support at the 1.2100 major psychological level and showed signs of retracing. Using the Fibonacci...

USD The US dollar suffered a continuous selloff last week as weak data from the economy weighed on rate hike prospects.  There are no major reports lined up from the US this week, as traders could focus on market sentiment for direction. Last Friday,...

USDJPY has been consolidating tightly recently, as the pair even formed a long-term triangle formation on the daily chart.  The pair has created higher lows and found resistance at the 121.00 handle, forming an ascending triangle chart pattern....

USD The US dollar gave up more ground to its forex counterparts when data from the economy came in weaker than expected. Initial jobless claims came in at 294K, higher than the estimated 284K figure and the previous 282K reading. Building permits fell...

AUDCAD seems to be done with its downtrend as a reversal pattern can be seen on its 4-hour forex chart. The pair failed in its recent attempts to break below the 0.9500 major psychological support and could test the neckline of the double bottom formation...

USD The US dollar continued to give up more ground to its forex counterparts in recent trading as data from the economy still fell short of expectations.  The Empire State manufacturing index fell into negative territory, with the reading tumbling...

EURUSD has been selling off since the start of the month but it seems to be making a correction for the past few days.  Price has popped up from the 1.0500 area to the 1.0700 levels, which is close to the 38.2% Fibonacci retracement on the 1-hour...

USD The US dollar suffered a sharp selloff in recent trading after the country’s retail sales figures came in short of expectations.  Headline retail sales chalked up a 0.9% increase instead of the projected 1.1% gain while core retail sales s...