EURCAD has sold off sharply in August, but it looks like the pair is prime for retracement back to an area of interest. Price could pull up to the broken support area at the 1.4400-1.4450 psychological levels, which are close to the 38.2% Fibonacci retracement...
USD The US dollar recovered to most of its major counterparts in recent trading sessions, despite the lack of top-tier data from the US economy yesterday. US banks were closed in celebration of Labor Day then, with economic data releases set to resume...
NZDJPY has been trading in an uptrend, as a rising channel can be drawn on its recent price action. The pair is still making its way to the top of the channel, which might hold as near-term resistance. The top of the channel is at the 88.00 major psychological...
USD The US dollar regained ground on Friday, as traders booked profits at the end of the trading month and prior to the Labor Day holiday. Data from the US economy was mixed, with personal spending and income reports falling short of expectations and...
GBPCAD has been moving in a downtrend on its 4-hour time frame but appears to be finding support at the bottom of the rising channel. Price has bounced off the 1.8000 major psychological level and might rally up to the middle of the channel or the top....
USD The US dollar consolidated to most of its major forex counterparts recently, although it did enjoy a bit of support when the US GDP was upgraded from 4.0% to 4.2%. Initial jobless claims came in at 298K, closely in line with estimates and the previous...
GBPJPY has been on a downtrend, as a falling trend line can be drawn to connect the recent highs of price. The pair is finding resistance at the 172.00 major psychological level, which could continue to keep any gains in check. Further downside momentum...
USD The Greenback returned some of its recent forex wins since there were no major US reports to give it a boost yesterday. For today, US preliminary GDP and initial jobless claims are up for release. The GDP reading could be revised slightly lower...
After rallying strongly last week, it appears that USDJPY could be in for a reversal as a head and shoulders pattern can be seen on its 1-hour forex chart. Price is currently testing the neckline of the formation, still pending a breakdown and confirmation...
USD The US dollar had a mixed performance as it extended its gains to the euro and the pound but retreated to the Canadian dollar. Data from the US economy was mostly stronger than expected, with only the core durable goods orders figure coming in...
