CAD/JPY’s downtrend is still very much intact, as the falling trend line connecting the price’s highs is still holding on the 1-hour time frame.  The pair just made a couple of tests of the trend line earlier this week and it appears that it cou...

USD The US dollar struggled to hold its ground at the start of the week as the continued government shutdown discouraged traders from taking long dollar positions.  The consumer credit report came in better than expected and reflected stronger...

AUD/USD could be in for a decline today as the .9450 minor psychological level has been holding well as resistance so far. A drop could last until the recent support around the .9350 minor psychological level. The intraweek resistance is in line with...

USD The US dollar recovered some of its recent losses for the previous week on Friday, as risk aversion popped its head in the markets. It also helped that a lot of traders booked profits at the end of the week.  EUR/USD pulled back to the 1.3600...

GBP/USD suffered a sharp selloff on Friday but it appears that the longer-term uptrend is still intact, as evidenced by the rising channel on the 4-hour time frame. The pair is hovering around the middle of the channel around the 1.6050 minor psychological...

USD   The US dollar had a mixed day as it lost to the euro, franc, and yen but caught some gains against the Aussie, Kiwi, and pound.  Data form the US was also mixed, as the initial jobless claims printed a better than expected result but...

A double top pattern has formed on GBP/USD’s short term time frame, which means that a possible reversal from the current uptrend could happen. The pair is still holding steady above the neckline around 1.6175 but a breakdown might confirm that a selloff w...

USD The US dollar gave up its gains to its major counterparts, as the US government shutdown extended for another day.  It didn’t help that US data was weaker than expected, with the ADP private payrolls figure showing a 166K increase instead o...

AUD/JPY is making a reversal pattern on its 1-hour time frame, which means that the current downtrend could be turning. The pair has formed a double bottom formation on the 91.00 major psychological level but the neckline at the 92.50 minor psychological...

USD The U.S. dollar underwent a sharp selloff yesterday on the announcement of an official government shutdown.  However, the currency soon recouped its losses when the ISM manufacturing PMI came in better than expected. The reading climbed from...