USDCAD recently bounced off the bottom of the descending triangle on its 1-hour forex chart and is making its way to the top.  Price could test the resistance near the 1.2600 major psychological level and make its way back down. Stochastic is almost...

USD The US dollar had a sharp selloff after the minutes of the latest FOMC meeting were released.  As it turns out, the report was less hawkish than expected, as some policymakers expressed concerns about hiking rates too soon. The minutes also...

NZDUSD is moving inside a rising wedge pattern on its 1-hour forex chart and is currently testing the top of the range.  A bearish divergence can be seen, as price made higher highs while stochastic had lower highs, indicating that selling pressure...

USD The US dollar returned some of its recent gains as traders booked profits ahead of the Chinese New Year holidays.  Data from the US came in weaker than expected yesterday, with the Empire State manufacturing index falling from 10.0 to 7.8,...

EURUSD has been forming lower highs and higher lows, creating a triangle pattern on its 1-hour forex time frame.  At the moment, price is testing the top of the consolidation pattern and may be due for a move lower. Stochastic is heading down anyway,...

USD The US dollar regained ground when risk aversion returned to the financial markets after the Greek debt talks failed to produce a deal. There have been no reports released from the US then, as banks were on a President’s Day holiday. There are s...

EURGBP is moving inside a descending channel on its 1-hour time frame, indicating that the pair might be in for more losses.  At the moment, price is testing support at the mid-channel area of interest and may make its way down to the channel support....

USD The US dollar lost a lot of ground on Friday when risk appetite surged on the heels of improving geopolitical situations.  Data from the US economy was weaker than expected, as the preliminary consumer sentiment index from the University of...

USDCAD has formed lower highs and found support at the 1.2400 major psychological level, creating a descending triangle chart pattern on its 1-hour forex chart.  For now, price is hovering around the formation’s bottom, while stochastic is edging t...

USD The US dollar gave up a lot of ground when the economy saw weaker than expected retail sales figures for January, casting doubts on the Fed’s projected rate hike for the year.  Core retail sales fell by 0.9% versus the projected 0.4% drop w...