GBP/USD is still on an uptrend, despite the sharp selloff that occurred recently. The pair has just bounced off the bottom of the rising channel on the 1-hour time frame as indicating potential rallies. Stochastic is moving out towards the overbought...
USD The US dollar’s movement was relatively subdued yesterday, as there were no major reports released from the US. The only data printed was the initial jobless claims report, which came in stronger than expected at 333K versus the estimate at 337K. H...
AUD/USD is testing a major support level, as seen on its daily time frame. The pair has previously bounced off the .8850 to .8900 area in the past but has formed a bearish flag right on that area. Data from China and Australia have mostly been weaker...
USD The US dollar gained ground against its major counterparts as the ADP employment report printed stronger than expected gains of 238K versus the estimate at 199K. In addition, the FOMC minutes showed that the Fed will proceed with a cautious taper...
The downtrend on USD/CHF may soon be over as the pair already closed above the falling trend line on its daily time frame. As you can see though, stochastic has reached the overbought zone, which means that buyers may be getting tired. However, the oscillator...
USD The US dollar enjoyed a bit of support, thanks to stronger than expected trade balance figures. The deficit shrank from a positively revised 39.3 billion USD to 34.3 billion USD instead of widening to 40.2 billion USD. This reflects stronger trade...
A double top has formed on EUR/USD’s 1-hour time frame and it seems that the pair has confirmed the potential selloff. It has broken below the neckline around the 1.3650 minor psychological level but is waiting for more selling momentum. Stochastic i...
USD The US dollar lost some of its shine in yesterday’s trading when the US ISM manufacturing PMI fell short of consensus. The actual figure dropped from 53.9 to 53.0 instead of improving to the estimated 54.6 reading. Factory orders, on the other h...
USD/JPY is still on a strong uptrend, as seen from the rising trend line connecting the lows of the price on the 4-hour time frame. At the moment, the pair is testing the trend line around the 104.00 major psychological handle. Stochastic has dipped...
USD Liquidity is expected to pick up today as more traders return to their trading desks. Over the weekend, Harvard economist Larry Summers spoke of the need to have fiscal stimulus for the US economy. He pointed out that this could spur full employment...
