AUDUSD has been in a steady downtrend since December last year and has been trading below a descending trend line connecting its recent highs on the 4-hour chart.  Price seems to have broken above the trend line recently though, indicating that...

USD The US dollar continued to lose ground against its forex counterparts, as risk appetite extended its stay in the financial markets.  Data from the US economy was weaker than expected, with existing home sales falling short of the estimated...

NZDUSD has recently formed a double bottom pattern on its 4-hour time frame and seems to be confirming the potential reversal, as price has already broken above the neckline of the chart pattern at the .7600 major psychological resistance.  At the...

USD The US dollar was unable to shake off the downbeat vibes brought forth by the cautious FOMC statement, forcing the currency to end lower against most of its forexcounteparts for the week.  There have been no major reports released from the...

GBPUSD could be in for a reversal, as a double bottom pattern formed on its 1-hour forex chart.  This could be a sign that the recent downtrend is already over as soon as price breaks past the neckline of the formation around the 1.5000 major psychological...

USD The US dollar made a bit of a recovery to most of its forex counterparts in recent trading, as traders realized that the Fed is still the only central bank moving closer to hiking interest rates.  Price action was no longer as volatile in the...

NZDUSD seems to be starting an uptrend on its short-term time frames, as the pair is creating an ascending trend channel on its 1-hour chart.  The short-term moving average has just crossed above the long-term moving average, suggesting that an...

USD The US dollar gave up a lot of ground as most market participants weren’t too convinced that the Fed is ready to hike in June.  Although the FOMC removed the “can be patient” phrase in discussing policy normalization, they also downgraded growt...

GBPUSD made a strong bounce during the FOMC statement, as dollar bulls were disappointed to find out that the Fed lowered their growth and inflation forecasts.  Although the statement no longer contained the “patient” wording in discussing policy nor...

EURJPY might be done with its recent downtrend, as a short-term reversal pattern formed on its 1-hour time frame.  A double bottom can be seen, with price currently testing the neckline of the formation. Moving averages have also narrowed, indicating...