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...
NZDUSD has been trending lower since breaking below the neckline of a head and shoulders pattern. Price is also moving below a descending trend line connecting the highs since mid-September. A pullback to this trend line appears to be underway...
USD The US dollar took some hits during the New York session when rumors swirled that Senate would impose a one-year delay before implementing tax cuts. Medium-tier reports such as consumer credit and JOLTS job openings data turned out stronger than...
USDCAD continues to trend higher and is moving above an ascending trend line connecting the lows on the 4-hour time frame. Price looks prime for another correction and the 50% level lines up with the trend line support at 1.2700. The 100 SMA is...
USD The dollar was off to a good start but gave up its gains during the latter part of the London session and throughout the US session after FOMC member Dudley confirmed his retirement plans. He is one of the more hawkish members of the Fed so the...
GBPJPY was previously trending higher inside an ascending channel before breaking below support to signal a reversal. Price bounced off the 148.75 level before showing signs of pulling back to the broken support. Applying the Fibonacci retracement...
USD The US dollar dipped upon seeing downbeat NFP results but recovered before the week closed. Employment rose by 261K in October versus the estimated 312K gain, but the earlier figure was upgraded from -33K to +18K. The unemployment rate fell from...
EURAUD is trending higher and is moving inside an ascending channel on its 4-hour time frame. Price has just bounced off support and looks ready for a test of resistance at 1.5400-1.5450. The 100 SMA is above the longer-term 200 SMA so the path of least...
USD The dollar has gotten a boost from news that the House passed a budget resolution to allow the tax bill to clear Senate without achieving a supermajority. US advance GDP data for Q3 is due next and hopes are running high after the durable...
EURUSD broke below the neckline of its long-term head and shoulders pattern, confirming that a downtrend is underway. The chart pattern is approximately 400-500 pips tall so the resulting selloff could last by the same amount. The 100 SMA is still sufficiently...
