Yen bears came out in full force after the elections in Japan over the weekend, causing USD/JPY to break past the descending triangle resistance. This chart pattern is approximately a thousand pips tall so the resulting uptrend could last by the...
USD The US dollar held steady for the most part of the day as traders waited to find out how Trump's meeting with Yellen went. Reports still indicated that the President is leaning towards appointing Powell, who is considered a dovish option....
GBPAUD recently dropped below the descending triangle support at 1.6800, signaling that further losses are in the cards. Price bounced off the 1.6700 area and might be due for a correction to the broken support. Applying the Fibonacci retracement...
USD The US dollar was able to brush off downbeat housing market data as traders were already aware that these were skewed by the recent hurricanes. Also Fedspeak was more hawkish than usual, with members Kaplan and Dudley acknowledging the tightness...
EURAUD recently broke out of its symmetrical triangle formation on the daily time frame to indicate that bullish momentum is getting stronger. Price reached a high of 1.5246 before turning back down for a retest of the broken triangle resistance. ...
USD The US dollar managed to stay afloat thanks to mostly upbeat medium-tier data and positive Fed rhetoric. FOMC member Harker highlighted the tight labor market while Kaplan wrote about waiting to see if 2% inflation is achieved in the medium...
USDCAD previously broke below its ascending channel formation then pulled up for a retest, creating a head and shoulders pattern visible on the 4-hour time frame. Price has yet to complete the right shoulder and test the neckline around the 1.2450 minor...
USD The US dollar got a bit of reprieve when it was reported that Trump was impressed by his meeting with John Taylor, another potential candidate for Fed Chairmanship. He is also reportedly scheduled to meet with Yellen on Thursday. Data surprised...
EURUSD is in the process of forming a head and shoulders pattern on its daily time frame as it completes the right shoulder. The neckline is located at 1.1700 and a break below this support could send price down by around 400 pips or the same height...
USD The US dollar took a huge hit on Friday when economic data came in mostly weaker than expected. Headline inflation came in at 0.5% versus 0.6% while the core reading stood at 0.1% versus 0.2%. Retail sales data turned out mixed, with the headline...
