USDJPY has been climbing recently but a reversal pattern just formed, indicating that a downtrend might be next. Price made a double top pattern on the 4-hour time frame and is currently testing the neckline at the 122.50 minor psychological level, with...
USD The US dollar chalked up another mixed forex performance, as economic reports were all over the place. The headline durable goods orders report showed an impressive 3.0% gain while the core version of the report simply came in line with expectations...
GBPAUD has sold off sharply recently, breaking below a significant support level around 2.1200 From there, the pair dipped to a low of 2.0715 before showing signs of a retracement. Using the Fib tool on the latest swing high and low on the 4-hour chart...
USD The US dollar functioned mostly as a counter currency in recent trading sessions, ending up with a mixed performance against its forex peers. Data from the US economy came in weaker than expected, as the CB consumer confidence index slumped from...
EURGBP appears to have made yet another bounce off the bottom of its long-term range Price tested the .7000 major psychological level recently and is staring to make its way higher. Stochastic is starting to head back up from the oversold area, indicating...
USD The US dollar still managed to dominate against its forex peers even with weaker than expected economic data. The flash manufacturing PMI for November showed a decline from 54.1 to 52.6, reflecting a slower pace of growth. Existing home sales fell...
AUDUSD has recently broken above the falling trend line visible on its 1-hour chart, indicating that a reversal is underway. Price is showing signs of pulling back to the broken resistance area and the 61.8% Fib at the .7100 handle might hold as support....
USD The US dollar rebounded against its forex rivals on Friday, recovering back to its weekly highs against most of its counterparts. There were no major reports out of the US then but FOMC members Dudley and Williams reaffirmed the idea of a...
GBPJPY has been moving on an uptrend on its 4-hour time frame, with an ascending channel connecting the latest highs and lows of price action. Price is currently testing the channel support at the 186.50 minor psychological level and might be due for...
USD The US dollar continued to give up ground to its peers even though the FOMC minutes pretty much sealed the deal for a December liftoff. Profit-taking appears to be in play, as most of these rate hike expectations have been priced in for quite some...
