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...
NZDUSD failed in its last two attempts to break below the .7150 minor psychological level, creating a double bottom formation visible on its 1-hour chart. Price has yet to break above the neckline around the .7250 level to confirm the reversal. ...
USD The US dollar was off to a good start but wound up retreating when the FOMC minutes were released. Even though policymakers judged that a rate hike is appropriate "fairly soon" they did specify that this hinges on whether or not incoming jobs and...
EURJPY is trending lower on its 4-hour chart, moving inside a descending channel connecting the latest highs and lows of price action. The pair is bouncing off support at the moment and may be due for a test of resistance. The 100 SMA is...
USD The US dollar was mostly stuck in consolidation against its peers as downbeat medium-tier data cast doubts on a March rate hike. The Markit flash manufacturing PMI fell from 55.0 to 54.3 versus the 54.7 consensus while the services PMI slid from...
