USDCAD recently broke out of its range and reached the 1.3450 minor psychological resistance before pulling back down to the broken resistance. Applying the Fib tool on the latest swing low and high shows that the 38.2% level is close to the area of...
USD The US dollar was mostly confined to ranges at the start of the week but gave up ground to the yen on weaker bond yields. Economic data came in line with expectations as the ISM manufacturing PMI fell from 57.7 to 57.2 as expected. The sub-index...
USDCAD has been moving sideways on its 1-hour time frame, bouncing off support at the 1.3285 area and resistance at 1.3400. Price is currently testing the top of the range at the moment and if it holds as a ceiling, another drop to the range support...
USD The US dollar returned most of its recent gains to its forex counterparts as economic data turned out mixed. The core PCE price index was up 0.2% as expected while personal income rose by 0.4% as expected but personal spending was weaker at 0.1%....
EURJPY failed in its last few attempts to break past the 123.00 area, creating a double top formation on its 4-hour chart. Price has yet to break below the neckline at the 118.00 major psychological mark before confirming the longer-term drop. If that...
USD The US dollar regained a lot of ground after the final Q4 GDP reading was upgraded from 2.0% to 2.1% on stronger consumer spending and a couple more FOMC members supported the likelihood of seeing three rate hikes this year, allowing the Nasdaq to...
EURUSD has been selling off recently but it could be approaching a turning point as it nears the bottom of the longer-term ascending channel visible on the 4-hour time frame. Price could test support at the 1.0650 minor psychological level and bounce...
USD Dollar pairs were moving mostly sideways in the past few trading session as traders were on edge with the Brexit developments in Europe. Investors are also waiting for more clues from the Trump administration on their reform agenda. Data from the...
GBPJPY continues to trend lower and is moving inside a descending channel on its 4-hour chart. Price just bounced off support at the 137.50 minor psychological level and could be on its way for a test of resistance at the 139.00 major psychological mark....
USD The dollar was able to get back on its feet upon seeing mostly stronger than expected reports. The CB consumer confidence index rose from 116.1 to 125.6 - its highest reading in more than 16 years. The Richmond manufacturing index also turned out...
