EURGBP continues to trade lower as it bounced off the descending channel resistance on its 4-hour time frame. Price could keep dropping until the channel support around .8650, which might provide a countertrend opportunity. Stochastic is already pulling...
USD The US dollar rebounded against most of its counterparts in recent sessions but analysts have doubts that it can hold on to its winnings. Data has been weaker than expected and FOMC officials have warned of the dangers of low inflation. Only initial...
EURUSD appears to be pulling back from its latest rally as price could correct to the ascending trend line or Fib levels on the daily time frame. The 50% retracement level is closest to the trend line around the 1.2150 minor psychological mark. The 100...
USD The US dollar was off to a good start but failed to hold on to most of its gains as risk appetite returned to the markets when equities recovered. Data was mixed, with the trade balance showing a wider deficit and the IBD/TIPP economic optimism...
GBPUSD recently broke past the resistance of a long-term ascending channel, indicating that a steeper climb may be underway. Price has since pulled back to the broken resistance, which is now holding as support and seeing a spinning top reversal candle....
USD The dollar was able to draw a bit of support from risk-off flows even as equities plummeted. The VIX posted one of its strongest single-day jumps while indices erased most of their gains for the year in what several analysts called a long-overdue...
EURJPY suffered a steep drop recently but is currently pausing at the bottom of its ascending channel on the 4-hour time frame. A bounce off this region could take price up to the resistance at 137.25-137.50. The 100 SMA is above the longer-term 200...
USD The US dollar staged a strong rally during the NFP release as the results came in better than expected. The economy added 200K jobs in January versus the estimated 181K increase while the December figure was upgraded to 160K. The unemployment...
USDCAD popped up from support around the 1.2250 minor psychological level to the 1.2400 area, which lines up with an area of interest. This could also serve as resistance of the new descending channel forming on the 4-hour time frame. Stochastic...
USD The dollar was in a weak spot once more and failed to draw a boost from upbeat economic data. The ISM manufacturing PMI fell from 59.7 to 59.1 to reflect a slower pace of industry growth, but the reading was better than the 58.7 consensus. However,...
