AUD/USD has been undergoing heavy selling pressure, but it appears the pair has found support around the .9100 area. It could pull up for a quick retracement before the selloff resumes. Using the Fibonacci retracement tool on the 1-hour time frame shows...
USD The US dollar made a stellar recovery against its major counterparts in yesterday’s trading, pushing EUR/USD below the 1.3000 handle and USD/JPY above the 100.00 mark. There were no major reports released from the US yesterday, as risk aversion w...
NZD/USD has been moving sideways on its 1-hour time frame, as the pair found support around the .7720 level and resistance near .7830. The pair is currently moving closer to the bottom of the range and getting ready to test the support level. There...
USD The dollar was off to a good start for the week, as risk aversion remained in the markets for most of the Asian session. However, the U.S. ISM manufacturing PMI failed to impress market participants as it clocked in at 50.9. This was only slightly...
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...
