AUDUSD is currently trending lower but looks prime for a correction to its descending channel visible on the 4-hour time frame. This is in line with the 200 SMA dynamic inflection point, but price is already testing the 100 SMA at the moment. The...
USD The US dollar slumped against its peers when the FOMC minutes focused mostly on weak inflation concerns. In particular, the transcript indicated that many participants worried that inflation would run below the 2% target much longer than expected,...
GBPUSD appears to have finally broke out of its consolidation pattern on the 4-hour chart. Price surged past the resistance of its descending triangle, indicating its intention to go for more gains. The chart pattern is approximately 900 pips tall...
USD The US dollar was weaker against its peers during the US session as traders reacted to Yellen's unease about inflation and brought bond yields down. Data was actually stronger than expected as existing home sales rose from 5.37M to 5.48M. The FOMC...
USDJPY is trending lower on its short-term time frames, moving inside a descending channel and currently testing resistance. This lines up with the 100 SMA and 50% Fibonacci retracement level, which appears to have held as resistance. The 100 SMA...
USD The US dollar was able to chalk up some gains to its counterparts despite lower liquidity during the shortened work week. The CB leading index came in stronger than expected with a 1.2% gain versus the projected 0.6% uptick. Existing home sales...
EURGBP has been trading sideways recently, finding resistance around the .9000 major psychological level and support near the .8750 minor psychological mark. Price has just bounced off the ceiling and is halfway through on its way to the floor. ...
USD The US dollar had a mixed run despite stronger than expected building permits and housing starts data released on Friday. Building starts jumped from 1.23M to 1.30M versus the consensus at 1.25M while housing starts rose from 1.14M to 1.29M....
USDJPY looks ready to trade sideways on its daily time frame as price has bounced off the resistance around 114.25. This could put the pair on track towards its range support at 108.50. The 100 SMA is still below the longer-term 200 SMA so...
USD The US dollar rallied then reversed as traders have been paying extra close attention to tax reform updates. Senators are gearing up to unveil their version of the tax bill today while Congress will vote on theirs next week. There have also...
