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...
GBP/USD was rejected at the 1.6250 minor psychological resistance yesterday, as pound bulls need to gather more energy before pushing this pair higher. The pair could retrace to the 50% Fibonacci retracement level on the 1-hour time frame, as it is in...
USD The U.S. dollar experienced heavy selling pressure in yesterday’s trading, as the U.S. economy is currently facing a possible government shutdown. For now, lawmakers still haven’t come up with an agreement on how to implement spending cut...
USD/JPY has been trading inside a rising channel for quite some time but the range broke earlier this week. This suggests that a downtrend might be in the works, possibly after a quick retest of the broken support. On the 4-hour time frame, stochastic...
USD The US dollar lost ground on Friday, mostly because of the weak economic data and the prospect of a government shutdown. Lawmakers only have a few hours left to come up with a plan to avoid default, and it appears that Republicans and Democrats still...
USD/CHF just broke below the key .9100 handle on Friday’s dollar weakness, but the pair might be due for a quick pullback before heading any lower. The 1-hour chart shows that the former support at .9100 lines up with the 61.8% Fibonacci retracement l...
USD The US dollar lost some ground to most of its major counterparts yesterday, as bleak economic data convinced traders that a taper is not likely for this year. The US GDP reading was held steady at 2.5% for the second quarter instead of being...
