EURJPY recently broke past the 130.00 major psychological level and zoomed to a high of 131.60 before going for a correction. Applying the Fibonacci retracement tool shows that the 38.2% level lines up with the area of interest, adding to its strength...
USD The US dollar rallied when Treasury Secretary Mnuchin reiterated that they have a detailed plan for tax reform set to be implemented before the end of the year. He also suggested that the debt ceiling deadline be moved forward to unlock funds...
GBPNZD has been trending higher and moving inside an ascending channel visible on its 4-hour chart. Price is currently testing the channel resistance around the 1.8000 major psychological handle and could be due for a dip to support near 1.7600. Stochastic...
USD The dollar got a strong boost from a flurry of upbeat reports and talks of tax reform from Trump. The preliminary GDP report saw an upgrade to 3% versus the projected revision from 2.6% to 2.7% while the ADP non-farm employment change reading...
USDCAD seems to be done with its selloff as price is forming a double bottom pattern on its 4-hour time frame. This classic reversal signal could be confirmed once price breaks past the neckline resistance at the 1.2800 level. The chart pattern...
USD The US dollar lost ground upon hearing news of North Korea's missile launch, worrying that a nuclear strike on Guam isn't far off. However, fears soon faded and equities rebounded, allowing the currency to recover as well. It also helped that...
GBPJPY recently broke below the bottom of its ascending triangle visible on the daily time frame, signaling that a long-term selloff is in order. Price appears to be pulling up for a correction to the broken support around the 144.00 levels. Applying...
USD The dollar dipped lower against its rivals at the start of the week as Hurricane Harvey weighed heavily on energy stocks and US equity indices. Data from the US also turned out weaker than expected as the goods trade deficit widened from $64...
EURCAD seems ready to go for a move higher as it formed an inverse head and shoulders pattern on its daily time frame. Price has yet to break past the neckline at the 1.5000 major psychological level before confirming the potential long-term climb. The...
USD The US dollar took a hit after the Jackson Hole speeches as Yellen expressed some concerns about inflation, downplaying hopes of a Fed rate hike in September. Headline durable goods orders came in weaker than expected at a 6.8% loss versus...
