USD The dollar barely drew any support from upbeat leading jobs indicators. The Challenger job cuts report printed a 3.6% drop in layoffs, bringing the annual total of job cuts down to its lowest level since 1990. The ADP reading also beat expectations...
EURGBP is trending lower in a shallow descending channel visible on its 4-hour chart. Price is approaching the channel resistance at the .8950 minor psychological level and might be due for a bounce. The 100 SMA is below the longer-term 200 SMA...
USD The dollar was able to chalk up a winning day even after its shaky start this week as the FOMC minutes turned out less downbeat than expected. Several members confirmed that gradual rate hikes are in the cards, although many remained concerned...
GBPUSD is trending higher on its 4-hour chart and looks prime for a pullback to the ascending trend line. Applying the Fib tool on the latest swing low and high shows that this lines up with the 61.8% retracement level around the 1.3450 minor psychological...
USD The dollar was off to a shaky start as it simply picked up where it left off in 2017. Equities recorded a strong performance in anticipation of tax reform implementation, but the currency was more sensitive to policy biases and a fresh round...
USDJPY has formed lower highs and found support at the 112.00 area, creating what might be a descending triangle pattern. Price is currently testing support and might be due for a bounce back to resistance if it holds. Stochastic is pointing up...
USD US banks were still closed for New Year's Day and are set to reopen today. Only the final manufacturing PMI reading is due, though, and no changes from the initial 55.0 figure are eyed. Other potential catalysts include updates on the tax reform...
EURAUD has been trending lower on its 4-hour time frame since breaking below the neckline of a head and shoulders pattern. Price has bounced off support and is now nearing a test of the resistance around the 1.5400 levels.Applying the Fib tool on the...
USD The dollar was in a weak spot for the most part of the day as risk appetite was in play. Positive sentiment in relation to the tax reform package appears to have faded and traders are focused on the event risks. Also, data has been mostly...
AUDNZD has been trending lower, moving inside a descending channel on its 4-hour time frame. Price is currently testing the resistance and could be due for a drop to support. The 100 SMA is below the longer-term 200 SMA, confirming that the path...
