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...
USD The US dollar was able to end the day strong even though data from the U.S. economy was mixed. The headline CPI fell short of the expected 0.1% uptick and printed a flat reading but the core CPI printed a better than expected 0.2% increase instead...
On its 1-hour time frame, GBP/USD is trending lower, after forming a double top reversal pattern on its 4-hour chart earlier this week. The pair has since broken below the neckline around 1.6350, confirming the potential selloff. Comments from BOE Governor...
USD The US dollar had one of its better days against the pound and the euro, as the low-yielding currency managed to put a lid on its recent losses. Data from the US, however, came in weaker than expected. The Empire State manufacturing index did post...
AUD/USD is testing a key support level at the moment, as the .8950 level is in line with the pair’s lows for the year. Stochastic is pointing up, indicating a potential bounce but fundamental factors are hinting at further losses for the Aussie. For o...
USD The Greenback barely reacted to weaker than expected PPI data on Friday, as it managed to hold on to its latest gains to the euro and the pound. Headline PPI showed a 0.1% decline while core PPI came in line with the consensus of a 0.1% increase....
