GBPAUD is moving inside an ascending channel connecting its highs and lows since mid-April. Price just bounced off the resistance and could be due for a test of support at the 1.7400 major psychological level. Using the Fib retracement tool on the latest...
USD The Greenback remained mostly supported by upbeat medium-tier US data and a bit of risk aversion. Fed official Rosengren reiterated his view that three more rate hikes seem reasonable this year and even though he's not a voting member, US markets...
NZDUSD has been trading inside what appears to be a falling wedge pattern on its daily chart. Price is currently testing support and seems to be pushing for a break lower, indicating that a steeper selloff is about to happen. Stochastic has made it out...
USD The dollar gained a bit of support even with a couple of weaker than expected medium-tier data. Final wholesale inventories ticked 0.2% higher instead of falling by 0.1% in March while the IBD/TIPP economic optimism index ticked lower on a weaker...
NZDUSD has formed lower highs and higher lows on its 1-hour chart, creating a symmetrical triangle pattern. Price just bounced off support and could be due for a move back to resistance. The 100 SMA is below the longer-term 200 SMA on this chart so the...
USD The US dollar regained ground as the Fed labor market conditions index saw an upgrade for the March report while traders turned their attention to Wall Street reform. The Treasury Committee headed by Mnuchin had a closed-door meeting to discuss...
NZDUSD could be in for a reversal from its selloff as the pair formed a double bottom pattern on its 1-hour chart. Price still has to test and breakout from the neckline at the .6960 level before confirming that an uptrend is in order. The chart pattern...
USD The Greenback didn't post much gains on Friday even after economic data turned out stronger than expected. The NFP report indicated a 211K increase in hiring versus the projected 194K figure. However, there were downward revisions to earlier reports....
USDCAD has been trading inside an ascending channel on its long-term time frames and is currently testing resistance. If this holds, price could make a correction to support and the nearby Fib levels. In particular, the 61.8% retracement level coincides...
USD The US dollar had a mixed performance as it gave back some of its post-FOMC gains to the European currencies but managed to stay afloat against the comdolls. Medium-tier reports such as the Q1 unit labor costs and productivity turned out stronger...
