USD/JPY’s rally seems to be losing steam as the pair can’t seem to make a break above the 97.00 major psychological resistance Right now, USD/JPY is pulling back to the 95.00 area and looks ready to test the rising trend line on the 4-hour time frame. Not...
USD: Neutral Dollar pairs are stuck in consolidation so far as EUR/USD keeps testing the 1.2950 minor psychological resistance while GBP/USD is still moving sideways around the 1.5100 area. The recent FOMC statement seemed to be a non-event as...
The falling trend line on USD/CAD’s 1-hour time frame is holding for now but the pair is consolidating into what appears to be a symmetrical triangle. Traders are awaiting the results of the Canadian retail sales report, which is set for release d...
USD: Neutral Most dollar pairs could be in for a lot of tight consolidation during today’s trading sessions as traders sit on their hands prior to the FOMC monetary policy statement. Their most recent rate decision included a mention of potential t...
After Cypriot officials and the Troika unveiled a bailout proposal to save Cyprus’ troubled banks, the parliament rejected the plan since it involved a one-time tax levy on deposits. This prompted fears of a bank run in the country, which might do m...
USD: Bullish Weekend gaps on most dollar pairs seem to have been filled at the moment, except for the large one on EUR/USD. Risk is off in the markets at the moment as equities have been sliding and higher-yielding assets are selling off, suggesting...
After its strong rally towards the end of last week, GBP/USD consolidated tightly in a pennant formation during yesterday’s trading. This is most likely because traders are awaiting the release of top-tier British data within the week. For today, t...
USD: Bearish Several weekend gaps were made after the short squeeze took place last week as most major currency pairs opened right where they were prior to the profit-taking on Thursday and Friday. This presents an opportunity for weekend gaps...
EUR/USD made a huge gap down from the 1.3100 area to below 1.3000 over the weekend. The sudden rally that took place during the last two trading days of the previous week can be explained by a quick short squeeze as traders decided to book profits...
USD: Neutral The U.S. dollar lost a lot of ground to its major currency counterparts during yesterday’s trading as we saw a short squeeze, particularly for GBP/USD and EUR/USD. It seems that the selloffs are no longer able to carry on and most traders s...
