A double bottom pattern can clearly be seen on the daily chart of AUD/NZD, indicating that the recent downtrend is coming to an end. The neckline of the formation is around the 1.0900 to 1.0930 levels, although stochastic is indicating that buying pressure...
USD Dollar pairs were mostly in consolidation last Friday, as data from the US economy came in mixed. The UoM consumer sentiment figure for April was revised higher to reflect more optimism in the economy while the flash services PMI for the same month...
AUD/USD is in a strong uptrend on its short-term and long-term time frames but it appears that buyers need to regain energy before pushing the pair higher. In the 4-hour chart, the Fibonacci retracement tool shows that the pullback could take place until...
USD The US economy released mixed economic reports in yesterday’s New York trading session, printing stronger than expected durable goods orders figures while showing a weak initial jobless claims reading. Headline durable goods orders increased b...
CAD/JPY is in a short-term uptrend, as seen on the channel connecting the highs and lows of price action on the 1-hour time frame. In fact, the pair just came off a test of the channel support and bounced but it is finding resistance at the 93.00 major...
USD Despite weaker than expected US economic data, the US dollar managed to score gains against most of its major currency counterparts. The flash manufacturing PMI for April fell from 55.5 to 55.4 while new home sales printed a bleak 387K figure instead...
AUD/USD has sold off because of the weak Australian CPI reading but this might merely spark a large correction for the pair’s ongoing uptrend. On the 4-hour time frame, a rising trend line can be drawn to connect the lows of the price since mid-January t...
USD The US dollar lost a bit of ground to some of its major counterparts in recent trading as risk sentiment improved in the markets. However, liquidity was still low and there were barely any big moves among dollar pairs. Data from the US was stronger...
USD/CAD recently broke below a rising trend line on its 4-hour time frame, thanks to weak US non-farm payrolls data and a downbeat FOMC meeting minutes release. However, the pair is showing signs of exhaustion from the selloff and may be ready to make...
USD Volatility is expected to pick up in today’s trading sessions, after the snoozer on Monday’s trading. Financial markets are reopening today and traders will return to their desks, leading to some movement among major pairs. US existing home sal...
