USDJPY has been trending lower on its 1-hour time frame, moving inside a descending channel since the start of the year. Price is now testing the channel resistance and might be due for a drop back to support at 111.00. The 100 SMA is below...
USD The US dollar had another mixed performance as there were no major reports to provide any direction. Besides, US President Trump can't seem to make up his mind if he wants a strong or weak dollar. Initial jobless claims and final wholesale...
EURJPY is trending lower after recently breaking below its consolidation pattern with support at 121.00-121.50. Price is now moving inside a descending channel and testing support, possibly setting the stage for a pullback to the resistance. ...
USD The US dollar had a mixed performance as it merely reacted to country-specific events. Data from the economy turned out in line with expectations, with the trade deficit narrowing on stronger imports and exports and the JOLTS job openings...
USDCAD has formed lower highs and lower lows recently, creating a falling wedge chart pattern visible on the 4-hour chart. Price is currently testing the wedge resistance and may be due for a move back to support. If a breakout happens, the pair...
USD The US dollar tried to get back on its feet but ended mostly lower against its peers as equity indices closed in the red. The US labor market conditions index rose from an upgraded 0.6 reading to 1.3 to reflect sustained improvements, supporting...
GBPJPY indicated its intention to head further south by breaking below the head and shoulders neckline at 141.00. The chart pattern is approximately 300 pips tall so the resulting selloff could be of the same size. The 100 SMA has crossed...
USD The US dollar initially cheered stronger than expected NFP data but eventually resumed its slide to its peers. The headline reading showed a gain of 227K in hiring for January, higher than the consensus at 170K and the earlier 157K figure....
EURGBP seems to be tired from its dive as the pair failed in its last two attempts to break below the .8500 level. Price has now completed a double bottom formation and is testing the neckline at .8650. A break above this resistance could send...
USD The US dollar was able to take a break from its slide when traders started pricing in strong NFP results. The consensus is for a 170K gain in hiring but analysts seem to be looking forward to a reading above 200K which might reinforce the Fed's...
