USDCAD recently broke out of a long-term descending triangle pattern to signal that an uptrend is underway. Price hit resistance around the 1.2900 mark and is starting a correction to the broken triangle resistance. Applying the Fib tool on the...
USD The US dollar caught a few gains against most of its counterparts as the US GDP was upgraded, Yellen sounded upbeat in her testimony, and the Senate version of the tax bill cleared a hurdle. However, there are still several risks that remain,...
EURGBP has been on the decline but could be due for a bounce once it tests the range support near the .8750 minor psychological level. Stochastic is on the move down to show that selling pressure is in play, but the oscillator is nearing oversold levels...
USD The US dollar was able to rake in gains versus most of its counterparts on strong data and Powell's confirmation as next Fed head. The US goods trade deficit widened but the Richmond manufacturing index and CB consumer confidence index both...
EURAUD previously broke past the resistance at 1.5600 then zoomed up to a high of 1.5696 before retreating. This could be a correction from the uptrend if the pair finds support at the Fib levels. The 50% retracement level already seems to be holding...
USD The US dollar was off to a rocky start as North Korean jitters and some dovish remarks from FOMC member Kashkari weighed on the currency. However, it drew support from stronger than expected new home sales at 685K versus expectations at 627K,...
EURUSD recently broke past the neckline of a complex inverse head and shoulders pattern visible on the 4-hour time frame. Price looks ready for a retest of the broken resistance around 1.1800-1.1850. This lines up with the 50% to 61.8% levels,...
USD The US dollar had a rough run during the Thanksgiving holidays as traders continued to adjust positions on account of the less upbeat outlook on inflation shared by Yellen and most of the FOMC members. Flash manufacturing and services PMIs also...
USDCAD has formed lower highs and found support around 1.2675, creating a descending triangle on its short-term time frames. Price has just bounced off the triangle bottom and is making its way back to the top around 1.2750-1.2775. The 100 SMA...
USD The US dollar chalked up another losing day as market participants continued to adjust their positions to account for the Fed's less upbeat inflation outlook. There were no reports out of the US economy yesterday as markets were closed for...
