GBPJPY has been trending lower on its 1-hour chart, moving inside a descending channel formation. Price is currently testing the resistance and could be due for a move back to support around 140.50. The 100 SMA is below the longer-term 200 SMA on this...
USD The dollar was barely able to establish a clear direction in recent trading as economic data came in mixed. The Chicago PMI surprised with a jump from 58.3 to 59.4, outpacing the consensus at 57.0 to reflect a much stronger pace of industry expansion....
NZDJPY has been moving sideways, bouncing off support around the 78.00 major psychological level and resistance at 78.85. Price just got rejected on its test of the resistance and could be setting its sights back on support. The 100 SMA is above the...
USD The US dollar scored a few gains when the core PCE price index printed a larger than expected 0.2% gain versus the projected 0.1% uptick. Personal income and spending both posted 0.4% gains as expected while the CB consumer confidence index for...
GBPNZD has sold off quite sharply recently but this dive could come to a halt as price nears an area of interest. Recall that the pair also broke past the neckline of a double bottom pattern, indicating that further gains are in the cards. Applying the...
USD The US dollar was barely moving in recent trading sessions as traders were out enjoying Memorial Day. There were no reports out of the US economy then while today has the core PCE price index, as well as personal spending and income data. The CB...
EURGBP has been trending lower on the daily time frame and is currently testing the resistance of its descending channel. If this keeps gains in check, price could head back down to support at the .8300 major psychological level. The 100 SMA is below...
USD The US dollar gained some support from mostly stronger than expected economic reports. In particular, its Q1 GDP reading was upgraded from 0.7% to 1.2% versus the 0.9% consensus, signaling that the "slowdown" in the period wasn't all that...
USDCAD has pulled back from its rally to the 1.3785 area to test the Fibonacci retracement levels visible on its daily chart. This lines up with a former resistance level at the 1.3400 area that might now hold as support. The 100 SMA is still above the...
USD The US dollar barely established a clear direction in recent trading sessions as medium-tier reports were mixed. Initial jobless claims landed at 234K from 233K, still lower than the 238K consensus. Preliminary wholesale inventories slid 0.3% instead...
