USDCAD was previously trading inside a rectangle pattern, which turned out to be a triple top reversal formation when price broke to the downside. The chart pattern is approximately 250 pips tall, so the resulting selloff could be of the same height. ...
USD The dollar has been on strong footing lately as Trump recently signed the tax bill into law. This would mean stronger business investment, consumer spending, and overall growth down the line, likely keeping tightening expectations in play....
GBPUSD has formed lower highs and higher lows recently, creating a symmetrical triangle pattern on its 1-hour time frame. Price is approaching the peak of the formation so a breakout could take place soon. The chart pattern spans around 200 pips so the...
USD The dollar had a mixed run as currency-specific factors were in play and US data also turned out mixed. The final GDP reading for Q3 was downgraded from 3.3% to 3.2% while initial jobless claims also printed weaker than expected results. On...
EURJPY recently broke to the upside of its descending channel visible on its 4-hour time frame. Price rallied close to the 135.00 handle before making a pullback and using the Fib tool shows the nearby support levels. In particular, the 38.2% Fib...
USD The dollar has been on strong footing as the focus was on the tax bill vote, which managed to clear its way through even with a few road bumps. President Trump could sign the bill into law anytime soon, which would provide a strong boost to...
USDCAD once again bounced off the top of its range on the 4-hour time frame and could be due for a move back down to support at 1.2675. Stochastic is heading south to show that sellers are on top of their game, but the oscillator is also dipping into...
USD The US dollar was advancing ahead of the tax bill vote as housing data turned out stronger than expected. Building permits dipped 1.4% but landed higher than expected at 1.30 million versus the 1.27 million forecast. The current account deficit...
EURAUD previously broke below the neckline of its head and shoulders pattern on the 1-hour time frame to signal a selloff. Price found support around the 1.5340 area and is now pulling back to the broken support near the 1.5500 handle. Applying...
USD The US dollar had a rocky start but managed to end overall positive against most of its counterparts. The NAHB housing market index jumped from 69 to 74 instead of just merely advancing to the consensus at 70. Lawmakers are set to vote on...
