AUDJPY has recently broken the major resistance level at the 96.00 psychological handle a few weeks back and made a strong rally to the 98.75 area. However, price appears to be retreating as traders booked profits and sentiment appears to be turning...
USD The US dollar continued to advance against its forex counterparts as risk aversion hit the markets and favored the lower-yielding Greenback. There were no major reports released from the US yesterday, with only the consumer credit report on tap...
AUDUSD has been trading inside a rising channel on its 1-hour forex time frame for the past month, but it looks like a breakdown is happening. The pair is currently hovering around the channel bottom near the .9250 to .9300 psychological levels, with...
USD The US dollar had trouble sustaining its climb on Friday when the US NFP report came in weaker than expected. The economy added only 142K jobs in August versus the estimated 226K in hiring gains. Meanwhile, the jobless rate still managed to improve...
Reviewing the long-term price action of EURCAD indicates that the pair may be in the middle of a huge market correction, as the recent selloff is stalling at the 38.2% Fibonacci retracement level of the previous uptrend. At the same time, this retracement...
USD The Greenback cashed in plenty of gains to the euro and other currencies with dovish central banks, as risk aversion peeked back in the markets yesterday. Data from the US economy was mostly stronger than expected, adding to the appeal of the dollar....
USDJPY has staged strong gains in the past few days yet it appears to be stalling at a major resistance zone. Price is moving around the 105.50 area, which lines up with the previous year highs and a long-term support zone broken in the past years. This...
USD The US dollar edged slightly lower to its forex counterparts when the US economy printed a weaker than expected factory orders report. It showed a 10.5% gain versus the estimated 10.9% increase, although the previous month’s report was upgraded t...
AUD/CAD has been trading inside a range on its 1-hour time frame, finding support at the 1.0115 area and resistance at the 1.0215 level. Price has recently come off a test of the range support and appears ready to test resistance once more. Stochastic...
USD Data from the US economy came in mostly stronger than expected yesterday, although the dollar’s performance was mixed. The ISM manufacturing PMI showed a stronger than expected rise from 57.1 to 59.0, marking a faster pace of expansion in the i...
