The rising channel on AUD/USD’s 1-hour forex chart is still holding and it appears the pair found resistance at the .9500 major psychological level, which lines up with the top of the channel. At the same time, stochastic is moving down from the overbought z...

USD The US dollar lost a lot of ground to its forex counterparts at the end of the month and quarter, despite mixed economic data. Pending home sales marked a 6.1% increase while Chicago PMI fell from 65.5 to 62.6, reflecting a weaker expansion in the...

The downtrend of EUR/AUD is still intact, as the pair is trading below a falling trend line on its 4-hour time frame. However, the upcoming events this week could be crucial in determining whether this trend will carry on or not. Price is testing the...

USD The US dollar had a strong run on Friday, as data from the US economy came in mostly better than expected and traders booked profits off their dollar short positions. The UoM consumer sentiment reading was revised up from 81.2 to 82.5 versus expectations...

GBP/AUD is consolidating inside a descending triangle pattern, showing a potential range play for short-term traders or a possible breakout and longer-term bias for swing traders. Price is just testing the top of the triangle with stochastic moving down...

USD The US dollar suffered huge losses to most of its major counterparts in recent trading, as the GDP reading was downgraded to show a 2.9% contraction. Recall that the GDP has already been downgraded from an initial positive reading to a 1.0% contraction...

USD/JPY has been consolidating inside a symmetrical triangle for almost an entire month, as traders are torn in picking a clear direction for this pair. However, the bleak US GDP release has resulted in a sharp downside break from triangle support and...

USD The US dollar had a mixed performance to its major counterparts in recent trading as it acted mostly as a counter currency. There were no major reports released from the US economy except for the CB consumer confidence and new home sales report,...

EUR/GBP is showing signs of pulling back to the retracement levels and trend line marked on the 4-hour time frame. As you can see, the 50% Fibonacci retracement level lines up with the .8050 minor psychological level, which might act as resistance for...

USD Although the US dollar had a volatile trading day, it was practically range-bound against most of its major forex counterparts. Data from the US was stronger than expected, as both the flash manufacturing PMI and existing home sales beat expectations....