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...
NZDJPY recently broke below support at the 79.50 minor psychological level then dipped to the 78.50 mark. Price pulled up from there and applying the Fibonacci retracement tool on the latest swing high and low on the 1-hour time frame shows that...
USD The dollar traded mostly sideways as traders are taking it easy ahead of Yellen's Jackson Hole speech. Medium-tier reports turned out weaker than expected, with existing home sales falling in line with the downbeat trend of earlier housing...
EURCAD is trending lower and is moving inside a short-term descending channel visible on the 1-hour chart. Price just bounced off the resistance and is making its way back to support at the 1.4700 handle. The 100 SMA is below the longer-term 200...
USD The dollar gave up some ground on speculations of a government shutdown as Trump threatened to trigger one unless he gets the funds to build the wall along the Mexican border. There have also been whispers of conflict among lawmakers that...
