EUR/USD has tested the 1.3000 major psychological level a few times already, forming a double bottom pattern on its 1-hour time frame.  However, the pair has yet to break above the neckline before confirming that a reversal is taking place. The...

USD The US dollar has a lot of major reports in line for the week, with the ISM manufacturing PMI, ISM non-manufacturing PMI, and NFP report due.  Last week, dollar demand was strong as most of the data came in stronger than expected. Another round...

China just printed its set of PMI figures from HSBC and the government in today’s Asian session, and both reports showed weaker performance in its manufacturing sector. The government figure fell from 50.8 to 50.1 while the HSBC final reading was revised d...

USD The US dollar dominated the day’s price action once more, as strong economic data boosted the currency against its counterparts.  The initial jobless claims printed better than expected results while the core PCE price index, which is considered t...

GBP/USD is still on a steady downtrend on its 1-hour time frame, as the pair is moving below a falling trend line connecting its recent highs for the month. The pair appears to have bounced off the 1.5200 major psychological support, but this might just...

USD The US dollar lost ground to some of its major counterparts in yesterday’s trading as the US Q1 2013 final GDP figure suffered a huge downward revision from 2.4% to just 1.8%.  This led market participants to worry that the US economy would d...

There’s a potential short-term retracement on EUR/USD’s 1-hour time frame which could come into play today.  There’s a falling trend line connecting the pair’s recent highs while the 50% Fib is in line with a former support around the 1.3070 area. A...

USD The US dollar had some trouble sustaining its gains recently, despite stronger than expected data from the US.  This may have been a result of an improvement in risk sentiment, which helped lift the higher-yielding currencies against the Greenback....

GBP/JPY is on a short-term downtrend based on its 1-hour time frame. The pair has made lower lows and lower highs, forming a falling channel. At the moment, GBP/JPY is in the middle of the channel on its way down. Stochastic is moving lower, although...

USD The US dollar had to take a breather from its recent rallies, as it ended the day mostly lower against its major counterparts.  There were no economic reports released from the United States then. For today, durable goods orders data, CB consumer...