The US dollar made a bit of a recovery to its forex counterparts in recent trading, as data from the US economy came in stronger than expected again.
EURGBP has been trading in a short-term uptrend for most of the month, as an ascending trend line can be drawn to connect its recent lows.
The US dollar continued to edge lower to most of its major counterparts as more and more traders have been booking profits off their long positions at the end of the month and quarter.
EURNZD’s recent downtrend might soon be over, as the pair formed a reversal pattern on its 4-hour chart.
The US dollar continued to weaken against most of its major counterparts, despite stronger than expected data from the US economy.
AUDUSD has been in a steady downtrend since December last year and has been trading below a descending trend line connecting its recent highs on the 4-hour chart.
The US dollar continued to lose ground against its forex counterparts, as risk appetite extended its stay in the financial markets.
NZDUSD has recently formed a double bottom pattern on its 4-hour time frame and seems to be confirming the potential reversal, as price has already broken above the neckline of the chart pattern at the .7600 major psychological resistance.
The US dollar was unable to shake off the downbeat vibes brought forth by the cautious FOMC statement, forcing the currency to end lower against most of its forexcounteparts for the week.
GBPUSD could be in for a reversal, as a double bottom pattern formed on its 1-hour forex chart.