There’s a potential retracement on EUR/USD’s 4-hour time frame prior to the release of US data in today’s New York session. The 38.2% Fib is in line with the 1.3200 major psychological resistance level and it was a former support. It could act a...
Dollar bulls kept charging until the end of the week, spurred by the Fed’s recent announcement regarding its plan to reduce bond purchases by the end of the year. There are no reports due from the United States today, which either suggests quiet t...
After breaking above the falling trend line on its 1-hour and 4-hour time frames, USD/CHF has made another signal that a reversal could take place. On its 4-hour time frame, the pair has made an inverse head and shoulders pattern, indicating that the...
USD The U.S. dollar continued its winning streak against its major currency rivals, as the U.S. data came in mostly better than consensus. Both Philly Fed index and the existing home sales report beat expectations, with the manufacturing index...
On its shorter-term time frame, USD/CAD has been consolidating, as though getting ready for a break in either direction. With today’s set of data from Canada, a strong breakout could be in the works. Canada is set to release its CPI and retail s...
USD The U.S. dollar was the king of the hill in yesterday’s trading as it rallied strongly against its major counterparts. The main reason for the bullish dollar sentiment was the Fed’s announcement during its latest monetary policy statement, whi...
USD The U.S. dollar had a mixed day in the markets, as it managed to rally against the commodity currencies and the yen but held steady against most European currencies. Only the trade balance was released from the U.S. yesterday and this came...
The uptrend of CAD/JPY still seems to be intact as the pair is testing the bottom of the ascending channel on the 4-hour time frame. This area is also around the 96.00 major psychological support. Stochastic has just moved out of the oversold region...
USD The U.S. dollar suffered a sharp selloff in yesterday’s trading when the ISM manufacturing PMI came in worse than expected. The actual figure showed a contractionary reading of 49.0, worse than the estimated decline from 50.7 to 50.6. Only t...
USD/JPY kept selling off in the past few trading days as the Nikkei stock index posted sharp declines. This was enough to push USD/JPY back down from the 103.75 area to 99.50. This level coincides with a former resistance level, right after the BOJ implemented...
