EURAUD has been trending lower on its daily time frame, moving below a descending trend line connecting the latest highs of price action. Price bounced off a low of 1.3625 and looks ready for a pullback to the falling resistance level. Applying...
USD The US dollar continued to rally against its counterparts as traders focused on Fed rate hike talks and the fact that Trump sounded more presidential in his recent testimony in front of Congress. Economic data was also mostly stronger than expected,...
GBPUSD bounced off the resistance at the 1.2650 minor psychological level and broke below the near-term consolidation support at 1.2400, confirming that sellers are taking over. Price is now making its way towards the long-term support at the 1.2100...
USD The US dollar was off to a weak start in the absence of upgrades in its Q4 GDP reading of 1.9% but soon recovered upon seeing stronger Chicago PMI and Richmond manufacturing index readings. Dollar traders appear to be holding out for Trump's...
AUDUSD recently broke below its ascending channel visible on the 1-hour and 4-hour time frames. Price has dipped to a low of .7635 before showing signs of a pullback. Applying the Fib tool on the swing high and low shows that the 50% retracement...
USD The US dollar initially sold off upon seeing mixed durable goods orders results and a sharp drop in pending home sales. Headline durable goods orders rose 1.8% versus the projected 1.6% rise while core durable goods orders fell 0.2% instead of increasing...
EURGBP has been trending lower, moving inside a descending channel connecting the latest highs and lows on the 4-hour time frame. Price is currently testing the resistance near the .8500 major psychological level and might be due for a move back towards...
USD The US dollar regained some ground against its peers on Friday as traders booked profits off their short positions earlier in the week. Besides, expectations for Trump's tax plan announcement are running high once more since he is scheduled to have...
GBPUSD sold off sharply last Friday but appears to be finding support at the bottom of its short-term range at the 1.2400 major psychological level. Stochastic is already indicating oversold conditions, which means that sellers are exhausted and that...
USD The US dollar chalked up another day of losses as traders are starting to get weary of waiting for Trump's "phenomenal" tax reform announcement. According to Treasury Secretary Mnuchin, it will take until 2018 or so before the impact of the...
