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...
GBPAUD has formed lower highs and higher lows on its daily time frame, creating a symmetrical triangle formation on the long-term chart. Price just bounced off the triangle resistance and could be due for another test of support. Stochastic is...
USD The US dollar failed to benefit from stronger than expected data as bulls seemed disappointed by the lack of hawkishness in the Fed statement. The FOMC kept rates on hold as expected and acknowledged that consumer and business sentiment have improved....
EURUSD continues to trend higher, moving inside an ascending channel on its 1-hour chart. Price just bounced off the resistance at 1.0800 and might be due for a test of support at 1.0700. The 100 SMA Is below the 200 SMA so the path of least resistance...
USD The US dollar tumbled against its counterparts when President Trump called out China and Japan for currency devaluation tactics. For some, this was also a form of jawboning for the dollar. To top it off, economic data came in mostly in the red,...
