GBPUSD is trending lower and moving inside a descending channel on its 1-hour time frame. Price is currently testing the resistance and could be due for a drop to support soon. The 100 SMA is below the longer-term 200 SMA so the path of least resistance...
USD The US dollar took hits from downbeat CPI data, profit-taking during the FOMC statement, and Yellen's presser. Core CPI missed forecasts by posting a meager 0.1% uptick versus the estimated 0.2% gain. The FOMC statement was a bit more positive...
EURUSD is trending lower and moving inside a descending channel on its 1-hour time frame. Price is testing resistance after a sharp rally, so either a bounce or break could be due. The 100 SMA is below the longer-term 200 SMA to signal that the...
USD The US dollar crawled slowly higher, drawing support from positive FOMC expectations and more progress in tax reform. Senator Coryn suggested that they are making progress and could get the deal done before Christmas but Senator Rand signaled...
GBPAUD continues to trend higher, moving above an ascending trend line connecting the lows since early September. Price looks ready for another trend line test soon and this support area lines up with a former resistance around 1.7500. The 100...
USD The US dollar was off to a weak start for the day as risk appetite weighed on the safe-haven currency. However, rising US bond yields and positioning ahead of this week's events allowed the currency to recover later in the day. JOLTS job openings...
GBPJPY has formed higher highs and higher lows, creating a rising wedge pattern visible on its daily time frame. Price is approaching the peak of the chart pattern, so a breakout could take place sooner or later. The 100 SMA is above the longer-term...
USD The US dollar staged a good rally against most of its counterparts last week on tax reform progress and a bit of risk aversion. The US economy added 228K jobs in November according to the NFP report, higher than the projected 198K figure. Average...
USDCAD is still trading sideways, finding resistance at 1.2900 and bouncing off support at 1.2675 on the latest test. Price is now nearing the top of the range once more and technical indicators are signaling the resistance might hold. The 100 SMA is...
USD The US dollar stayed strongly supported for the most part of the day thanks, in part, to Congress' moves to avert a government shutdown. US equities also closed in the green. Data was mixed, with the Challenger job cuts report showing a 30.1%...
