AUDCAD is slowly trending higher on its 4-hour time frame, just having bounced off the bottom of the range at the .9300 major psychological level. A short-term double bottom pattern can be seen, indicating that further rallies towards the top of the...
USD The US dollar was in for a slow trading day, as banks were closed on Veterans' Day and there were no top-tier reports released. The preliminary UoM consumer sentiment index is due and a rise from 90.0 to 91.3 is eyed, with stronger than expected...
GBPAUD could be in for a long-term reversal, as a head and shoulders pattern has formed on its 4-hour forex chart. Price is on its way to test the neckline support at the 2.1200 area, with a downside break likely to confirm that a selloff is in order....
USD The US dollar gave up some of its recent gains when medium-tier data came in weaker than expected. Import prices slumped 0.5% in October versus the projected 0.1% dip while the September figure was revised to show a sharper 0.6% decline. Wholesale...
EURGBP is hovering at the bottom of its long-term range, ready to make a bounce off support or a breakdown depending on how data turns out. A bounce off the support at the .7050 area could lead to a rally back up to the .7400 levels or at least until...
USD The US dollar had a pretty quiet trading day, as traders calmed down from the NFP volatility. The currency managed to hold on to its lead against the euro and comdolls but weakened to the yen and pound. There were no major reports out of the US...
GBPAUD has been trending higher on its 4-hour chart, moving inside a rising channel visible on that time frame. Price just bounced off the channel support at 2.1150 and may be aiming for the top at 2.1800-2.1900. Price could still encounter a bit of...
USD The US dollar enjoyed a strong rally against its forex rivals on Friday, thanks to upbeat jobs data. The NFP report showed a 271K increase in hiring, much higher than the projected 179K figure and the previous 137K rise. This was enough to bring...
AUDUSD has broken below its mid-range area of interest and is now aiming for the bottom around the .6950 minor psychological level. A test of this support could yield either a bounce or a break, with technical indicators suggesting that bearish momentum...
USD The US dollar was much stronger across the board, thanks to hawkish remarks from Fed Chairperson Yellen and support from FOMC members Brainard and Dudley. Yellen said that a December rate hike is a "live possibility" if upcoming data meets...
