A double top pattern has formed on GBP/USD’s 4-hour time frame, indicating that the pair’s rally might soon be over. The pair seems to be testing the neckline around the 1.6300 major psychological support. The pattern is roughly 100 pips in height, whi...
USD It seems that nothing could stop the U.S. dollar from rallying yesterday when the US economy printed a better than expected retail sales report. Headline consumer spending increased by 0.7% while core retail sales showed a 0.4% increase. Not even...
NZD/JPY has been on a steady uptrend on its 1-hour time frame and might be ready to push higher, given the RBNZ’s hawkish rhetoric in their latest interest rate decision. Although the central bank kept interest rates unchanged, they did hint that they c...
USD The US dollar had a mixed performance against its major currency rivals in yesterday’s trading, as it rallied against the Australian dollar and pound but weakened against the yen, franc, and euro. There were no major economic reports released from t...
NZD/USD has been trading in a downtrend for the past few weeks but it appears that the pair is ready to break out. Earlier today, the RBNZ had its monetary policy statement and decided to keep interest rates unchanged at 2.50%. However, RBNZ Governor...
USD The US dollar was a big loser in yesterday’s trading, as risk appetite seemed to benefit most other major currencies. There were no major reports released from the US economy then, as traders took the opportunity to book profits at key support a...
GBP/JPY might be on its way to resume its climb, now that price has made higher lows while stochastic drew lower lows. The support at the pair’s previous week highs around 169.00 seems to be holding well. However, a deeper retracement could still be i...
USD The US dollar had a mixed trading day, as it lost ground to the pound and the euro but strengthened against the commodity currencies and the Japanese yen. Remarks from Fed officials were also mixed since Bullard hinted at a small taper because of...
EUR/CHF has been selling off very aggressively but the pair might be due for a strong bounce soon, as it is currently testing a long-term bottom around the 1.2200 major psychological level. Take note that this is 200 pips away from the SNB’s floor, w...
USD The US dollar had a topsy-turvy Friday during the NFP release as the actual figure came in better than expected at 203K, beating the consensus at 180K and pushing the jobless rate down to 7.0%. Consumer sentiment also came in much better than expected...
