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...
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...
