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...
GBP/USD has broken past the 1.6500 handle last December but failed to sustain its rallies until the start of this year. This suggests that a huge retracement might be in the cards, as the pair gathers more buying power. The 50% Fibonacci retracement...
USD The US dollar tried to extend its rallies against its major currency rivals but had trouble doing so because of weaker than expected US economic data. The existing home sales report showed a 4.90M reading instead of the estimated 5.04M figure and...
USD/CHF is still trending lower on its 4-hour time frame, despite the strong bounce seen after the FOMC interest rate statement. The pair has dipped to new yearly lows around the .8850 area and might be ready to test those lows again. There’s a falling t...
USD The US dollar got a strong boost from the FOMC’s decision to taper bond purchases by $10 billion starting January next year. The Fed cited strong improvements in the labor market as their main reason for reducing stimulus, but pointed out that i...
AUD/CAD seems prime for a large correction on its 1-hour time frame, as the pair has found support around its recent lows around .9450. The pair could pull up to any of the Fib levels marked, particularly the 61.8% level, which is in line with a former...
