The ascending channel on Cable's daily time frame is still intact and price is heading towards the resistance around 1.3400. A countertrend opportunity could arise if reversal candlesticks form around this area. In that case, a move back to support at...

USD   The dollar gave up more ground to its counterparts as pending home sales turned out weaker than expected. The report printed a 0.8% decline versus the estimated 0.9% increase while the earlier figure was downgraded to show a 1.7% slide. Initial...

EURGBP continues to trend higher after breaking past a major range resistance visible on its longer-term charts. On the 1-hour time frame, it can be seen that the pair is moving inside an ascending channel formation and is testing support.  The...

USD   The dollar barely reacted to Fed head Yellen's testimony since she merely repeated their statements during the FOMC decision and reiterated that inflation is running below the committee's long-run objective. FOMC members Harker and Kashkari...

EURNZD appears to be pulling up from its dive with the recent strong bounce, but this might represent a mere correction from the long-term slide. Applying the Fib tool on the latest swing high and low shows potential pullback areas.  In particular,...

USD   The US dollar had a mixed run at the start of the week as weaker than expected durable goods orders kept gains limited. Headline durable goods orders fell 1.1% versus the projected 0.5% drop while the core reading had a 0.1% uptick versus...

AUDJPY recently formed a double bottom pattern on its daily time frame to signal that a reversal from the selloff is underway. Price just broke past the neckline around the 84.50 minor psychological level to confirm that bulls are charging.  The...

USD The US dollar was off to a weak start as economic reports turned out below expectations.  Headline durable goods orders fell 1.1% versus the projected 0.5% dip while the core reading showed a 0.1% uptick instead of the estimated 0.4% gain....

USDCHF has sold off recently but it could find strong support at a long-term range bottom around the .9500-.9550 levels.  A bounce off this area could lead to a move back to the resistance at 1.0400 or at least until the mid-channel area of interest...

USD The dollar was able to rake in some gains against most of its counterparts, except against the Kiwi and Loonie. The US CB leading index came up short at 0.3% versus the 0.4% consensus while the earlier reading was downgraded to 0.2%. Flash manufacturing...