NZDUSD could be in for a long-term selloff as price formed a double top on its 4-hour time frame. The pair has yet to break below the neckline at the .7200 major psychological support to confirm the downtrend, which might last by around 220 pips...
USD The US dollar took hits against most of its counterparts when Trump announced his plans to impose higher tariffs on steel and aluminium as this sparked trade war fears. Data from the US was mostly better than expected, though, with the ISM...
GBPUSD broke below the bottom of its symmetrical triangle on the 1-hour time frame to signal that a downtrend is underway. Price is bouncing off the 1.3700 area, though, so a pullback might take place before the selloff gains traction. Applying the Fib...
USD The US dollar was able to take advantage of risk-off flows despite weaker than expected US data. Chicago PMI and pending home sales both disappointed while the preliminary GDP was downgraded from 2.6% to 2.5% in Q4 2017 as expected. US core...
USDCAD is forming another major reversal pattern, this time on its daily time frame. Price has yet to test the neckline around the 1.2900 major psychological level and break above it to confirm the potential uptrend. The chart pattern spans around 850...
USD Economic data from the US was mostly weaker than expected yesterday as durable goods orders data and the goods trade balance fell short of estimates. However, the dollar got a boost when new Fed Chairperson Powell gave his testimony and added a...
GBPUSD has formed lower highs and higher lows, creating a symmetrical triangle pattern on its 1-hour time frame. Price is currently testing support and might be due for a bounce soon. Stochastic is on the move up to signal that buyers are regaining the...
USD The US dollar was in a weak spot as equities started the week on a positive note and traders seem wary of a cautious tone from new Fed Chair Powell's testimony. US new home sales also came in weaker than expected with a surprise fall. CB consumer...
EURJPY is trending lower inside a descending channel pattern and is about to test the resistance. This lines up with the 200 SMA dynamic inflection point, which adds to its strength as resistance. The 100 SMA is below the longer-term 200 SMA to...
USD The dollar managed to stay supported throughout the previous week as Fed tightening expectations strengthened while risk aversion lingered in the markets. There were no reports out of the US economy on Friday but Fed officials had a few more positive...
